Business Development and Handover (BDH) - A Case of Spiritual Finance*

Business Development and Handover (BDH) – A Case of Spiritual Finance

Mrs. Kamlesh Dwivedi (Kamlesh) and Mr. P. N. Dwivedi (Dwivedi) had returned to their native village in the district Shahjahanpur (Uttar Pradesh), India after around five decades. Dwivedi had served the Income Tax Department of India, and had retired from the post of Income Tax Officer in 2004.

The couple had agricultural land of approximately 50 bighas (28.5 acres) which was quite enough for earning a livelihood for a small family. For a peaceful and easy life in their advance years, the duo decided to spend their rest of the life in the village.

The couple was disappointed that the village was more or less same, as they had seen it 50 years back. As far as development was concerned, only one bitumen road was available, which was also full of potholes.....................

Dilemma

Although the Dwivedis desired to use their hard-earned savings for social work, but they were concerned whether the donated money would be genuinely used for welfare or will it be misused. The other question was if they should donate their hard-earned money to the NGOs or religious groups or should they themselves use money for the welfare of the village...........

Happy Moment

Ultimately, in January 2012, she started the business of creating readymade garments with two women, under the brand name Triveni Garments. In first year, she invested 30,000 and gained profit of INR3,000 only, but the next year they gained entry and identity in the market. In year 2013, more women joined her group and they earned a profit of approximately INR5000..........

Business Development and Handover (BDH) – A Case of Spiritual Finance

Synopsis

Donating huge sums to the charitable trusts/organizations for social welfare has always been a tradition in India, after their retirement or fulfilling family liabilities, etc. However, was the donated money used for the a cause or was it misused for irrelevant miscellaneous purposes? Mrs. Kamlesh Dwivedi (Kamlesh) and Mr. P. N. Dwivedi (Dwivedi) settled in their village in the district Shahjahanpur (U.P) after retirement. Many charitable institutions approached her and her husband with a request for donating some amount for social welfare. The couple, especially Kamlesh decided to invest the money for establishing a Kidswear readymade garment firm at a small level by engaging unemployed women of the village. Kamlesh managed the establishment successfully and when it started generating profit, she handed the business over to the women of village. Kamlesh called the money invested for developing this small business as ‘Spiritual Finance’, a virtuous method to help unemployed people especially in developing nations like India

Kamlesh was in dilemma that:

• • How should she convince the women to join the group for new business?
• • How should she manage the finances for the new business without any financial burden on any group member?

.......................................

......................................