Within a span of five years since joining the Confederation of Nepalese Industries Young Entrepreneurs Forum (CNIYEF) as a member, Prachi Agrawal has become its president. Agrawal has a Master’s degree in finance and marketing from the University of Strathclyde, United Kingdom besides having completed a course in interior designing from Dubai. She is the Executive Director and Interior Consultant of k-concepts and Kunal Living Décor, one of the leaders in modern furnishing, furniture and interior design which has been behind numerous successful commercial, residential and hotel projects across Nepal.
Agrawal says that involvement with CNIYEF allows young business leaders to come together on one platform and share their ideas and experiences. She adds that forums like these prepare young business leaders to take on the mantle in the future. In this issue of Business 360, she talks about her pick of favourite brands and what she has learnt from some of them.
Top 4 apps that you use the most
Blinkist (online book), Kindle (online book), LinkedIn (social marketing), Wion (for news)
3 destinations within Nepal you want to travel to
Jomsom, Lumbini and Everest Base Camp
Women-run businesses you think deserve accolades
Latika Golyan – Made in Nepal
Roli Mital Jalan – Kreative Nepa
Monica Agrawal – Friendly Toys
A startup business that you think will ace later
Sastodeal, Made in Nepal, Doctors on Call
An entrepreneur who inspires you
My father, Ramesh Kumar Bhangar, is one person who really inspires me to try out new things. Then it would definitely be Elon Musk and Ratan Tata for their drive and vision.
A non-profit business you would want to contribute to
I would love to contribute to Unnati Foundation which deals with issues related to mental health, which is becoming a major health problem these days.
3 brands that you have learnt something from
Apple: They don’t compete, they just grow.
Amul Butter: I love the way they promote their brand.
Tata: It is the way they have grown from being a salt to software conglomerate that amazes me.
The best work advice you have received
My father always keeps telling me not to leave any work half-way through; we have to take it to a conclusive end.
How can one support local businesses
The first thing is to provide a business-friendly environment. Local businesses must be provided necessary support whether it be infrastructure or sharing ideas and knowledge. Moreover, for those who are just starting out proper mentoring should be provided.
Two Nepali companies whose PR are spot on
Ncell and Daraz
Three things patrons can do to promote local businesses
Friendly and conducive environment
Advice to aspiring entrepreneurs
One has to be motivated and give all they have to make sure that they finish what they have started. Running a business in not an easy task whether it be a small one or a big enterprise in any sector. There will always be times that are rough but one has to be able to tide over those situations.
Startups are important for a country like Nepal because…
Startups are important for not only Nepal but every country because you are first and foremost retaining talent within the country. We should retain talent and nurture them. The other aspect is that when startups open then not only do you have more economic activities in the country but you also create more job opportunities.
- ‘I think most women run businesses deserve to be supported’
- ‘We should give preference to local businesses’
- ‘Treat everyone the way you want to be treated’
- ‘Instead of CTRL C and CTRL V type of business we should try something new’