As Traders Are Losing Hope, Welfare Policies Can Infuse Winning Mindset!

Mr. Anil Soni (President Vyapar Mandal Hamirpur) with Shree Bandaru Dattatreya (Governor Himachal Pradesh)

His excellency, Shree Bandaru Dattatreya, our current Governor of Himachal Pradesh is one of the rare gems of democracy who has a lengthy period of experience as Lok Sabha member & union minister, he devoted most of his life for the welfare of the common man.

I have had the good fortune of knowing Shri Bandaru Dattatreya ji and had a very surreal and heartwarming meeting with him recently. I also got the rare opportunity to have an in-depth conversation with the Shree Dattatreya ji on all things ‘non-political’ as well as vyapar mandal matters.

Shree Bandaru Dattatreya (Governor Himachal Pradesh)

There have been many decision by the govt which have impact on businesses like:- Demonetisation, Goods and Service Tax (GST), Bharat Interface for Money (BHIM), Jan Dhan Yojana, Real Estate Regulation and Development Act (RERA Act), Startup India Action Plan, Pradhan Mantri Mudra Loan Book Yojana, UDAAN Yojana etc.

As far as common businessman is concerned there are still many prospect areas where voice is yet to be heard. Most small businesses believe that the government should care more about businesses like theirs.

Well, as recovery continues, small business owners are significantly more optimistic about their future situation and have become more positive about the future and during this time I felt two important matters could be discussed with the honourable governor; and I got the assurance for consideration of the same.

1. There should be a Businessmen Welfare Trust who supports families left behind due to the death of a leading member, tragedy or any other calamity.

2. Taxpayers should be allowed to spend part of their income tax as corporate social responsibility.

I shall go into detail with the above two points:

1. Welfare trust for Business community is need of the hour

Small sector businesses are estimated to be at 42.50 million, registered & unregistered together. A staggering 95% of the total industrial units in the country. SME & Employment opportunity: Employs about 106 million, 40% of India's workforce. Next only to the agricultural sector.

Retail shops and small businesses are not only playing a crucial role in providing large employment opportunities at comparatively lower capital cost than large industries but also help in industrialization of rural & backward areas, thereby, reducing regional imbalances, assuring more equitable distribution of national income and wealth.

Therefore we must have a welfare trust to help & support needy families of businessmen.

2. Let’s allow taxpayers to decide to some extent where they want to spend their tax money

To earn money for oneself is something everyone aspires for. However, to earn money to work for society at large and pushing this aspiration to strive for progress is noble in its own way and if a common businessman is allowed to spend part of his income tax for his own society then what’s wrong with that.

Infact, not only it will promote brotherhood among society but will also endorse following:

a) Providing Your Business with a Conscience and a True Motive

As soon as you make social welfare a part of your mission, it will be infused in all your operations and business transactions. Each plan and strategy will fulfil your normal goals as well as the extra-welfare goals. This way, your business has a conscience and a true motive, not just a superficial motive of maximising profits.

b) Aligning Your Staff Towards Social Welfare

Perhaps the easiest step to becoming a more socially aware entity, your brand must ensure that your personnel is in tune with your new initiatives and projects. This will fall in place almost automatically, as nowadays, the workforce is looking to be satisfied not only professionally through work, but also intrinsically and morally.

c) Social Media and Marketing

If you’re a business that is doing their part in social welfare, and truly giving back, why not spread the message? An important part about corporate social responsibility is sharing all the steps you as a business are taking. This is done to make people aware of your initiative and more importantly, influence other organisations to take some progressive steps as well!

d) Consumer-Centric Social Welfare

The best part about socially progressive companies would be to enjoy a larger market share. In the current market, consumers are more likely to engage with companies that have a larger social welfare motive and goal.

e) Encourage faith to the community

Having your business aligned to a few specific causes truly makes progress, and assures faith to the community that you are truly giving back.

Besides these points, which are centered towards your business truly benefitting from taking up social causes, is the moral conscience aspect that we as human beings cannot ignore. As a being of the world, we take more than we can ever give back. Corporate Social Responsibility is justified as our way of compensating the environment what we take from it.

Giving back to the community truly replenishes your soul, and leaves behind a legacy far greater than any extent of profit can award your business.

Written By: Anil Soni