Young entrepreneurs facing challenges in business | Printed edition


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By Buhushika Kumaraga

Being a young entrepreneur has its challenges nowadays and this week Mirror Magazine reached out to several such entrepreneurs who managed to meet these challenges and continue with their business.

From fluffy cushions to artful ornaments and sparkling jewelery to chic shoes and bags, Ashmini Perera specializes in the art of selling stunning home decor and accessories. He runs two Instagram pages based on his two companies called @homedecor.sl and @pretty.in.accessories. With an eye for creative fashion and home decor, she started her own companies focused on the same niches. She maintains a close relationship with her clients to understand and fulfill their needs and requirements. Its products are mainly imported from the USA, Singapore and Canada.

Import bans meant compliance with higher taxes and longer customs clearance times. “It was a tense and difficult situation for every aspect of the business because of the current situation. I have to find alternative methods to ensure the best and fastest service.” In addition, Ashmini was forced to limit the import of a certain number of items due to price fluctuations in relation to the exchange rate. But despite the challenges, she still remains passionate about providing her customers with the most charming home decor and accessories at a reasonable price and plans to expand her line to cosmetics and maybe even launch her own website. There isn’t an anime fan in Sri Lanka who hasn’t heard of Yamato One. Their shop in Jana Jaya City is a paradise for fans of Naruto, Dragon Ball, Attack on Titan and many other Japanese manga and anime. Clinton de Krester started this business as an event vendor in 2016 and opened a store in 2018, and since then their store has become a favorite place for anime fans. Their products include figures, posters, clothing, plastic models and accessories imported directly from the home of anime, Japan and several other Asian countries. With the import ban, it became difficult not only to import products as before, but also to pay suppliers abroad. A spokesperson for the store said: “Most small business owners face the same struggle and hardship because it’s out of anyone’s control.”

TecRoot is a place that has won over the gaming and tech lovers crowd with elegantly designed audio and gadget devices from brands like PlayStation, Xbox, Nintendo, Razer, Sennheiser, AudioEngine, Bang & Olufsen, Bose and many more imported from Asia, Middle East and Europe. TecRoot was founded by Safwan Mansoor and Aman Imthiyaz. Safwan is an Oracle certified ERP consultant, entrepreneur and professional gamer and Aman is a professional creative designer with marketing experience and together they started their store in 2018 in Bambalapitiya to be a hub for all audio and gaming needs. With the import ban in place, it has become challenging to meet the timely demands of customers by officially releasing devices. “We also sourced certain products right after the official worldwide release so that users can join the hype. Now, fulfilling this request is not possible.” With their market research team working day and night to find solutions to this unexpected hurdle, they have started taking pre-orders for certain products so they can get them once the bans are lifted. They have also taken alternative avenues such as games and audio-related subscription plans.

To meet the current challenges, they educate and raise awareness among customers to understand the increase in value of the products they currently own instead of upgrading to the latest products. They are currently exploring alternative payment options and perfecting their delivery services, and hope to find ways to introduce and educate young tech enthusiasts about a wide range of brands and products that will not only entertain them, but also inspire them to innovate.

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