Two local women entrepreneurs: Daring to be different
Although Sri Lankan entrepreneurs have gradually grown in the country during the past few decades, very few women have joined this sector except for some who have dared to beat all odds and venture into businesses hitherto dominated by males. What drives women to take such risks and ventures into business is a case in point.
Ramya Weerakoon
The monthly meeting of the Sunday Times Business Club members held at the Kingsbury Hotel in Colombo last week dealt exhaustively with issues relating to women entrepreneurs in Sri Lanka and how two prominent businesswomen were able to surmount problems and become successful in their ventures. The duo, representing different generations of business – more than 30 years apart – shared their success, hardships and challenges on the way.
Ramya Weerakoon, Chairperson of Ramya Holdings (Pvt) Ltd and a past Chairperson of the Women’s Chamber of Industries and Commerce, addressing the audience unfolded her indomitable spirit to become successful in her business despite being a young widow with a daughter way back in 1971, when her husband an army officer had to sacrifice his life. However, when she gave birth to her second daughter she had to think seriously to plan her future. This was a turning point in her life when she embarked into batik business on a commercial level. “I embarked into export market in 1976 following a visit to a trade fair in Frankfurt, Germany which gave me lot of hopes although I was a novice at that time. Later I ventured into different lines of businesses.”
However, it was in 1988 when she went into the apparel industry having closed down the batik factory in 1983. Having ventured into the apparel business she has provided direct employment to 5000 employees and to 10,000 indirect workers. “We contribute to the country’s upliftment where we have factories in the outstations and have developed those areas by providing education to people. We also provide free meals and accommodation to those who work in our urban factories.”
She said she underwent many hardships in life at the outset but looked at all challenges as opportunities.
While Ms. Weerakoon will be soon celebrating 30 years of being in business, her toughest task over the years has been in the state approval process in setting up businesses.
Yasisurie Kiribandara
Despite the odds often against her, she was adamant in pursuing her goals, saying that she never bribed any official although it took time to get a job done.
She also pointed out that the level of public sector officials 30 years ago and now has changed drastically. “Then officials took decisions and didn’t wait for the politicians. Today officials are reluctant to take decisions,” she said, adding that the process has slowed down considerably.
Ms. Weerakoon said there is another project in the pipeline with a large mixed development investment in the property sector but she is yet to gain approval citing this example as one of many of the constraints she has faced in the approval process.
“We are also in horticulture business and have a tissue culture facility. We are also in the hospitality business as well with a bungalow at Ambewela with a vegetable garden and with strawberries.”
Yasisurie Kiribandara, Head Designer/Founder Yasisurie Pvt Ltd, a fashion designer by profession, said having worked in the corporate sector for some time she decided to set up her own business having gathered knowledge and procrastinating for a while as it happens to most people, she said.
She ventured into business in 2014 with Rs. 400,000 that her mother gave. “We were at the lowest point in our lives with our father passing away,” Ms. Kiribandara said adding that when she launched her fashion show she had no inkling of what she was doing but managed to win an award later.
“I was so focused on clothing on display that I was unaware that I had won an award one day until my friends began yelling at me.” She said the award she won propelled her to go forward. “Suddenly I had orders and people wanted to come and buy clothes from me. I did not have a proper set up such as infrastructure but started business from our home having recruited one person.”
Ms. Kiribandara never walked into a bank to get a loan to start the business but had an investor who invested a large sum of money in her business. She also realised over a period of time that being a fashion designer in Sri Lanka could not be sustained for long. Therefore she launched a company that produces high end premium products. “We export to Dubai and on a small scale to the US. In 2016 I was chosen to represent Sri Lanka at the Global Entrepreneurship abroad that provided me with knowledge and know-how on how social entrepreneurs work.” She said instead of building factories she tied up with small scale entrepreneurs who came under her flagship. “As a woman entrepreneur I believe in working with people,” she noted.