Kuldip Maity

What a promising July it has been for us! On the very first day of the Tokyo Olympics 2020, weightlifter Saikhom Mirabai Chanu won a silver medal in the Women’s 49 kg and lifted all our spirits. In the same breath of optimism, C.A. Bhavani Devi became the first Indian representative in fencing in the history of the Olympics.

In the everyday world, India’s merchandise exports shot up by 47.34% to $32.46 billion in June, compared with June 2020. Union Minister Piyush Goyal affirmed that “Exports during April-June period are the highest-ever merchandise exports in a quarter in the history of India.”

While July gives us hope, there is talk of a third wave of the COVID-19 pandemic in August. But this time, let’s take a lesson from our past and be prepared to tackle it. Let’s make sure that our country stays safe and healthy to keep up the momentum of positivity.

Let’s do this for all the aspiring Mirabai Chanus or Bhavani Devis waiting to take to the tracks with a fresh mind and a healthy body. Let’s do this for our handloom industry, which celebrates its glorious legacy on August 7 every year.

Let’s do this for Kabita, who dreams of her tant sarees reaching the fashion capitals of the world in the spring-summer collections.

Tant sarees, light lengths of cotton fabric, have long been the pride of Bengali women on either side of the Ganga/Padma River. It is said that the fame of Jamdani tant adversely impacted the textile industry of Britain during the Industrial Revolution. The British attempted to reduce the production of such fine cotton fabrics to save their textile industry. Today, Unesco recognizes the Jamdani tant as an Intangible Cultural Heritage of Humanity.

Tant weaver Kabita Santra from Ningra village in Purba Barddhaman district hopes that her woven sarees will reach the global market as the pride of India. This aspiring MSME entrepreneur is one of the ambitious women customers supported by VFS in their journey towards entrepreneurial success and financial stability.

Mother of three, Kabita was employed as a tant weaver in a nearby village. Being in this industry for years, Kabita realized that her experience created the potential to start independently. Kabita set out on a journey as an entrepreneur with VFS, joining the JLG Anu.

Kabita launched her business with one loom. Her eldest son, a high school graduate, helped her get the raw material. After every week, Kabita’s husband takes the finished product for sale at the nearby haat or weekly market.

Years of experience and deft handiwork propelled her sales, and soon Kabita had four looms.

A VFS executive, as part of the company’s customer-connect program, called up Kabita. The cheery entrepreneur discussed her journey and her plans. She told us that, while the lockdown had impacted operations, her workshop has regained its productive vigour.

She spoke of her youngest child, her daughter, preparing for her first board exam, due next year. She spoke of her middle child, her son, preparing for higher studies.

Most importantly, she spoke of her dreams to export her sarees to Paris, New York and London.

Her ambition is clear: her sarees will someday bring hope for many women who aspire to be like her, waiting to realize their true potential.

Milkha Singh, in all his interviews, almost without fail, used to recount his pleasure in running. He used to race with trains barefooted. A child of partition, he grew up to be a legend with sheer grit.

But Milkha was no exception. Indian Olympic team has always been full of members who qualified to match the rigorous athletic standards that the Games demanded. And most of them couldn’t even afford the basic gear that their chosen event demanded of them to wear.

Take the case of Revathi Veeramani, for instance. Orphaned at 7, she was brought up by her grandmother. A daily wage earner, the grandmother had initially refused to allow Revathi to be trained, fearing it would cost her money that she couldn’t afford.

Part of the 4x400 meter Indian contingent, Revathi was spotted by her coach K. Kannan at a district level competition when she was 17. Kannan found it tough to convince Revathi’s grandmother that she had no need to worry about financing her training. And yes, Revathi too used to run barefoot. In fact, she used to find running shoes a challenge to her performance. She is now 23.

Or take the case of Mary Kom. Daughter of tenant farmers in Manipur, she won her place in the world of women’s boxing and is today a legend entirely of her own making.

Why shouldn’t we talk about Deepika Kumari in this context? Daughter of an auto-rickshaw driver, she couldn’t afford a proper archery set. She grew up using homemade bamboo bows and arrows. Her life as an archer started with Arjun Archery Academy. The real break came when she got a chance to join the Tata Archery Academy in Jamshedpur. She is now ranked world number one in archery.

Though Dola Banerjee, the 2007 world champion, had a reasonably comfortable life, brought up in Baranagar, in the northern suburb of Kolkata, she too had a middle-class upbringing. She went to a good school and trained at a local archery club.

The point to note here is that they shine as examples of how one can win against all challenges thrown by life, provided one is determined enough to reach one’s life goal.

But determination is not enough. Even Arjuna needed Dronacharya. So did the flying Sikh. Milkha Singh is quoted to have said something to the effect that to succeed, the role of coach is important. “… You can achieve anything in life. It depends on how desperate you are to achieve it.” This was one of his famous refrains that invariably were followed by the stress on the role of a coach.

Revathi, when she was spotted at 17, lacked the finesse to reach her current status. Neither did she achieve what she ought to have had achieved given her talent at that age. She needed K. Kannan to bring that out of her. She needed to be trained to wield the talent into an instrument of success.

From the Flying Sikh to Revathi, the history of Indian achievers cannot just be counted with the number of medals. It has been a trail of challenging the odds that life throws at us. It has been a story of Dronacharyas and Arjunas. It has been a story of teachers with empathy and students who were willing to give their all, unconditionally, at the asking of their coachers. It has been a story of willingness and determination to rise above one’s own station to achieve with the inherited talent.

It has been a saga that needs to be emulated in the various aspects of our lives, even in business, especially in microfinance.

The story of the Olympics is not about winning. It’s about competing with fairness and bringing out the best of the endowed talent and being humane. Let us wish the Indian contingent our best, and may the best win.

While the microfinance industry strives to recover from the financial burden of the COVID-19 pandemic, many questions are being raised on the viability of microfinance as a tool for empowering women. I am writing this blog for those asking the question.

This blog will not contain any facts or news. Those can be found on the internet. Along with my thoughts and opinions, this blog will talk about the experiences of women who have based their lives on financial stability and educated financial outlook thanks to microfinance. The commitment to work hard for their dreams was the first step for each of them.

Since the first lockdown in March 2020, VFS has kept connected with its customers. The lockdowns have hurt the global economy severely, and our aspiring MSME entrepreneurs were not left unharmed. They went through everything, from decreased turnover to negative turnover and more. Yet, the one thing that keeps them afloat is their perseverance, the willpower to stand up again after being knocked down. To channelize the energy, we held several customer awareness sessions when the lockdown eased. VFS executives have been trained to think like entrepreneurs and on how to make informed decisions. This helped them educate, inform and motivate the women customers effectively. Our executives became their think tanks, advising and guiding the budding entrepreneurs in the right direction.

Sujata Ghosh has been one of our esteemed microfinance beneficiaries.

A mother of three, Sujata was a homemaker. Her social identity was that of a mother and a wife of a factory labourer. She aspired to be an entrepreneur, but as a Class 8 dropout, she was unsure how to get started. It was her determination to become one that took her to the nearest VFS branch.

Thus began the journey of Sujata Ghosh, business owner.

The spacious room at the back of her home has become her workshop. Sujata’s day is spent producing chhena or cottage cheese, curd and paneer—from boiling milk to curdling, from setting to straining. Her husband, now fully engaged in the business, fetches the milk and delivers the products. Their three daughters want to complete their education and then expand the operations.

Sales decreased during the lockdown, but Sujata weathered the storm. VFS’s financial education helped her plan and restructure her resources and operations. With the support of her husband and counsel from VFS executives, Sujata developed strategies to curb the damage. In the meantime, she also used the downtime to examine the strengths and shortcomings of her business.

Sujata reflects on how everything she has today appears to be a dream. Everyone in her neighbourhood, as well as her distant family, had taken her ambitions lightly. They never imagined that the timid and unassuming woman could become an ambitious entrepreneur. Now, they are proud to be acquainted with her.

Microfinance, like any other institution, has been facing challenges. There is little doubt that we are on the verge of a rebound, and we may see a significant improvement. Enterprising women like Sujata are responsible for our success. Many of our formerly unbanked customers are now successful business owners. Microfinance was a tool for them to become self-reliant and get empowered. They are role models for their children and other women who wish to escape the darkness of poverty and enter the world of financial security.

Yesterday should serve as a reminder to improve today, and today is an opportunity to improve tomorrow. Our greatest mistake is in assuming that our present comfort will be sustained by previous efforts. We lose sight of the fact that this is a never-ending process. The only way to keep the boat afloat is to make steady and consistent efforts in the right direction.

The COVID-19 pandemic hit us just as we thought nothing could go wrong with the world. The time has come for everyone to work together and adhere to the strict protocol specified by the government for the greater good to check the pandemic.

Owners of small businesses need some empathy and compassion. While we groan about the lockdown, let us not forget that we have the luxury to groan. Many people do not even have the privilege.

When we speak with our customers, we notice two things in common.

First, all of them have managed to keep their boats afloat in their unique ways. I’ve always believed that Indian women can fight adversity and turn any situation to their advantage. With the current situation, I was proven correct.

Second, our women customers, as well as anyone who wishes to live life to the fullest, have been praying for the pandemic to end. It is hard to focus on business when the threat of a highly contagious virus looms over one’s head.

Here, I take a moment of your time to urge you to wear a mask, keep your hands sanitised, and follow physical distancing. Vaccinated or not, following these steps strictly will help us avoid getting COVID-19 or spreading it. Vaccination will protect us from falling severely ill if we do happen to catch COVID-19.

Let’s follow the protocol for the owner of the small clothing store, for the doctor who has been working under tremendous pressure for over a year, for our local grocer. Let’s do this for our women entrepreneurs, who have been patiently waiting to get back to their entrepreneurial journey in full capacity.

Let’s do this for Chhayna.

Chhayna Sekh, the owner of a small unit in Bardhaman, is one of our illustrious customers. Her husband’s transport business came to a halt a year ago when the government ordered a lockdown across the country to prevent the spread of COVID-19. He was the sole breadwinner for the family of five. Their two daughters had just finished their Class 10 board exams. Her son was in Class 8. While the rest of the family was losing their minds over how to get through the chaos, Chhayna brainstormed ideas to get her family out of their predicament.

She had just applied for a loan from Village Financial Services to put up a small unit in her courtyard.

Chhayna had always wanted to do something on her own. Raising three children, household chores, and assisting her husband in managing his trucks had kept her busy. Just as she was gathering the courage and capital to launch her entrepreneurial career, she faced a hurdle that no one in the world had anticipated.

The lockdown was a significant setback that had to be overcome, and she did so. Every day, with consistent efforts. From Day 1, when many people were worrying, Chhayyna began work on her unit. She planned to launch her business as soon as the lockdown was lifted, with all health protocols in place.

Her courtyard had turned into a hive of activity. Many of her new employees were migrant labourers who had lost their jobs in some big city and had returned home penniless. Chhayna’s courtyard had become a newfound haven for them. One small business became a driving force in the lives of many.

When VFS headquarters called Chhayna, it was another busy day, with around 50 employees making and packaging products to be shipped to wholesalers. The proud entrepreneur was working on a large contract while planning her daughter’s wedding.

Toss a coin. That’s opportunities and setbacks in front of your eyes.

While the global economy suffered a significant setback since the beginning of 2020, when the COVID-19 pandemic turned life upside down, numerous people across the world have discovered ways to capitalise on the lockdown imposed by governments and come up with innovative ideas.

People with a strong business spirit found a way to keep the flame burning. For them, it was a watershed point in their lives and careers.

One of the things that have propelled this enterprising spirit has been social networking. People of all ages and genders found a way to earn and establish themselves. People found a way to interact without having to travel, thanks to blogs and vlogs. The world of technology has surely changed the way people think about their employment options and business chances.

Many people questioned Fatema Begum’s decision to add a business to their existing transport business. Fatema, on the other hand, was tenacious. She desired to contribute to the household income in some way. Fatema, a mother of two, was a homemaker. Her husband owned a car rental business.

Every day, after her teenage son went to school and her husband went to work, Fatema was left behind with her young daughter. Her day and energies would be consumed with caring for the household and her daughter. Even though life was generally rewarding, Fatema felt a void. A void created by a strong desire to achieve something, start her own business and become financially self-reliant.

This ambition led Fatema, like hundreds of customers, to the Ariadaha branch of Village Financial Services. Soon, armed with a loan, she had started a grocery. She stocked the shop with products ranging from packaged food to bottled cold drinks. Her son helped with setting it up and arranging the products on display. Her husband helped her get in touch with dealers and distributors of the products she stocked. Her little daughter did the most important job: she kept her motivated with her cheerfulness.

All of this occurred before March 2020.

Fatema was in her shop when the lockdown was declared. Her husband arrived and informed her of his situation. He would have to garage his fleet of cars till the lockdown lasted. Fatema exhaled a breath of relief. At least one source of revenue was not disrupted. Her shop!

Fatema realised that it wasn’t just the money she made from her shop that provided her peace of mind. It was also a protective shield around her family. People who had mocked her idea to open a shop suddenly regretted it. They saw the value of having a backup plan, a second source of income that provides security.

Adhering to all COVID-19 requirements, Fatema and her son created chalk circles in front of her shop to preserve the physical distance between her customers. She kept one hand-sanitiser near the door. Every time a customer came in, she asked them to sanitise. If a customer was not wearing a mask properly, she would instantly ask them to do so. Meanwhile, her husband took command of the household, keeping an eye on their son’s online lessons and their daughter’s playtime.

Fatema’s shop is still as bustling as it was two years ago when she first opened it. She expresses her gratitude to the Almighty for providing her with the courage to pursue her aspirations. Fatema’s success was not purely coincidental. Her venture turned a setback into an opportunity.