ISLAMABAD - The Islamabad Chamber of Commerce and Industry (ICCI) in collaboration with Smeda has organised a seminar on “Small Business Startups” to create awareness in youngsters and aspiring entrepreneurs about initiating a small or new business successfully.

On the occasion, Smeda Regional Business Coordinator Asghar Nasar said that his organisation was working to stimulate SME led economic growth through supporting an enabling business environment, enhancing access of business development services to SMEs and capacity building of SME sector entrepreneurs. He said the seminar was a part of the initiatives to foster entrepreneurship culture in the country.

Areeb Masood Khan of COMSATS University being the resource person gave a detailed presentation to the audience covering various aspects of starting a small business startup. He explained in detail the matters related to preparing for business startup, aiming for business finance, coping with legal aspects and preparing business strategy and developing a business plan.

The participants highlighted lack of capital and financing, lack of venture capitalists, complicated & lengthy business registration processes, over-regulation of businesses, lack of required information & guidance and lack of supportive government policies for entrepreneurs as major hurdles for starting small business startups and urged that the government should address these issues to foster an ecosystem for entrepreneurship in the country.

ICCI Senior Vice President Muhammad Naveed said that Pakistan was a country of young talent and the government should take policy measures to encourage youth towards entrepreneurship that was the best approach to cope with the issues of unemployment and poverty. ICCI Vice President Nisar Mirza highlighted the initiatives that ICCI was planning to encourage youngsters towards entrepreneurship so that instead of job seekers, they could become entrepreneurs and job creators for others. He said ICCI was working to establish an Incubation Centre to facilitate the growth of business startups.

He said the chamber would further strengthen its Women Business Growth Centre to support the women entrepreneurs through capacity building and trainings. He assured that ICCI would continue to work with Smeda for facilitating the growth of small businesses and SMEs.