National Institution for Quality and Reliability (NIQR) conducted a one-day Workshop on “FINANCIAL LITERACY for MSMEs” on 22nd February at Hotel Radha Regent, Chennai.
The genesis of this workshop came from the two panel discussions organised by NIQR last November and December.
"The entrepreneurs work hard to ensure production and marketing but they know little about the financials which are the keys to their profitability; they depend on the advice of the accountant and auditors. This workshop was designed to provide them an in-sight into managing the financial part of their business".
It was a wonderful sight having 75+ delegates, mostly CEOs and CFOs of MSMEs, attending the workshop for the whole day and also be interactive for the entire session.
CA Dr. Gopal Krishna Raju, Partner of M/s K. Gopal Rao & Co,
Dr. E. Bhaskaran, DGM (Schemes), TANSIDCO MSME Department, Government of Tamil Nadu and
Mr. S. Rajasekaran, National President, NIQR were the faculties.
Dr. V. Swaminathan, Senior National Vice President, NIQR presided over the inaugural function and called on the participants to be more interactive and benefit from the sessions.
Mr. V. Raghavan, National Treasurer, NIQR spoke about the evolution and need for the workshop in the present financial scenario. He summarised how the national Executive Committee analysed the feedback from the participants of the two Panel Discussions conducted in November and December last year and decided to organise this intensive workshop on ‘FINANCIAL LITERACY’ as a free one for all the MSMEs who are facing some difficult times now and as a gesture for their support to NIQR over the last three decades.
Mr. VSV. Chezhiyan, ECM of NIQR Chennai Branch had collected the requirements of various stakeholders for the last one month and presented them in his own pleasant Tamil language as a customers’ representative.
Mr. C V Gowri Sankar, National Secretary, NIQR introduced the speakers to the audience.
Dr. Raju, in his own unique style of delivery made the audience feel at home and gave meaningful replies to the seven questions raised at the beginning of the session by the Customer's representative, Mr. Chezhiyan. He was very crisp and clear in his response to the various questions raised by participants, namely
Mr. Muthukumar, Mr. Asokan, Mr. Ramesh, Mr. Pandiyan, Mr. Arvind, Mr. Sivanesan,
Mr. PR Mohan and Mr. Baskar and made them content. He was even kept busy during lunch with other participants.
The post-lunch session (normally a difficult one) was made lively by Dr. Bhaskaran, who reeled off scheme after scheme like Kutralam falls; he was also very clear in telling the basics of many schemes - making some wonder how they have not known them so far; and to the demand of many, he was kind enough to share his entire presentation. For want of time, both his explanations of schemes and Q&A have to be shortened. Still he was kind enough to answer the questions raised by Mr. Ashok, Mr. Muthukumar, Mr. Ashokan and Mr. Chandrakumar.
The last session by Mr. S. Rajasekaran was very meaningful but also lively; with practical situations and possible solutions for real problems faced by entrepreneurs; his analysis of financial situations of a few countries and what Indian entrepreneurs can/should do was appreciated by all.
The takeaways from the workshop included