Small and Medium Enterprise Development Authority (Smeda) has established "Women Business Incubation Center" (WBIC) at Lahore for nurturing and supporting Women Owned or Managed Businesses.
Project Director WBIC, Ms. Aisha Amjad stated that business incubation is a dynamic process of business enterprise development. Incubators nurture young firms (from start-ups to maximum of 5-year-old enterprise), helping them to survive and grow during the start up and expansion period (movement from home-based offices to commercial place) when they are most vulnerable. Incubators provide hands-on management assistance, planning business growth, exploring new opportunities, legal considerations, managing finance, and orchestrated exposure to critical business support services. They also offer entrepreneurial firms shared office services, access to equipment, flexible leases and expandable space all under one roof.
The Incubator centers have world-wide have made an important contribution to promoting economic growth, stimulating industrial development, creating jobs and boosting growth in particular regions, she added.
According to Economic Census of Pakistan- Preliminary Report by Federal Bureau of Statistics, there are 70,658 women owned businesses operating across Pakistan. This represents 3 percent of total enterprises in Pakistan. It is estimated that most of the women owned businesses fall within the category of SMEs. Statistics revealed that the corporate structure of their businesses. The level of women participating in enterprise development currently is around 16 percent, reason being availability of their limited resources topped by lack of confidence to invest in infrastructural facilities. Mostly, women in business venture into setting-up their business facility once the clientele is defined and their cash cycle becomes manageable.
In order to bridge this gap, government of Pakistan has given Smeda the task of setting of First Women Business Incubation Center (WBIC)- a step toward promoting Women Entrepreneurship- a one window especially catering to their business needs. This center will address the WE specific development needs along with providing then secure space to nurture there business. Hence, it would not only provide physical facility but also impart business management training to existing and new entrepreneurs.
According to Smeda sources, Women Business incubation Center (WBIC) will provide 'hands-on support' not 'life support' to women entrepreneurs (our clients). Women Entrepreneurs (WEs) will be offered to rent office space for establishing presence in the market (expanding from home based business to commercial office), or starting their business with promising business plan or looking for an opportunity to market their products through display center at nominal charges along with access to instant business management solutions. In total, 35 ladies will be selected to utilise Women Business Incubation Center. It is expected with the establishment of this Center around 1000 WEs will be getting direct or indirect assistance through WBIC in a period of 3 years.
The major goal of this project is to help women to develop their business skills that will enable them to compete effectively in today's marketplace.
BROADLY SPEAKING ITS OBJECTIVES ARE MENTIONED BELOW:
-- To provide secure office facility for Women Entrepreneurs
-- Providing them business support services
-- To provide a platform for networking
-- Exploring new business opportunities; sources explained that the space which will be allocated for women to set up their independent offices. The Women Entrepreneurs (WEs) will be selected on the basis of their business concept/business plan, educational background and leadership quality preferably Ladies working in Services Sector or Non-Traditional items. This rented office areas within the center could be used by start-ups and existing Women Entrepreneurs for maximum period of 2 years. The main objective is to empower and build the capacity of Women Entrepreneurs upto this period and by that time these ladies should be able to operate independently the daily activities of business.
These offices will be rented for a maximum of 2 years to an individual with the prior contract arrangement of incubation premises utilisation and exit strategy. To minimise the misuse of WBIC facility, it will be binding under contract for ladies to show at least 5 percent growth in their business or having developed a sound contract with buyers/suppliers otherwise the full cost of the area utilised will be charged upon her/ them at the end of incubation tenure.
These offices are fully equipped with Wireless Internet System, telephone line (charged to users as per actual cost monthly), desk, chairs and AC. The ladies renting WBIC facility will be given preference to participate in training programs organised by WBIC.
Display Center facility has 10 small units for which a fee will be charged to meet the maintenance expenses. Therefore, variety of products produced by ladies would be displayed in that facility. These ladies will be given advice on quality management, product designing and development for further enhancement and marketability of their products. This display facility will be available for WEs at Rs 2,500 per week per stall to cover operational cost of managing display center. Ideally each WE can at maximum Utilise the Display facility starting from 1 week to 6 weeks. After a gap of 6 months she may apply again. This way more ladies will be given chance to participate.
Incubation center will be providing guidance to clients on various business management techniques, business planning, opportunities for managing financial issues, enterprise development, marketing, product development, team-building and also specialist areas (eg sector knowledge).
Apart from services offered by WBIC manager, experts/ consultants will be hired to give specialised services to WEs at nominal fee. These consultants would be in field of Legal, Marketing, Financial, Accounting, Product Development/Designing, Quality Control, and BDS on need basis. These consultants will be visiting WBIC on regular basis so that they are easily accessible for ladies utilising WBIC facilities.
Smeda already has a web portal dedicated for WEs that is Women Information Network www.win.org. This provides up to date information on WEs issues and agencies working for economic empowerment of women. This portal will be a cyber information repository for women entrepreneurs in Pakistan. And other features will be added in that web portal.
Smeda helpdesk will also be established in WBIC for delivering specially designed products for women entrepreneur development. In addition to this, Business advisory services of Smeda will be delivered through this desk such as business plans, pre-feasibility studies, marketing plans and training programmes for Women Entrepreneurs skill development and enhancement.
This incubation center will have one training hall with sitting capacity of 30 40 persons. The training room will have (10) PC units placed which can be used by WEs being tenants at WBiC or general walk-ins for web-surfing, re-align with international trends and networks. In addition to this include library section having useful information for business development, growth, and latest issues.
Further center will have one meeting room (with sitting capacity of 8 persons). These rooms will be available for meeting and training program purposes for WEs with prior approval/booking. These facilities can be used by walk-ins and ladies present in the incubation center however, fee will be charged from Women Entrepreneurs.