EMN
Dimapur, April 9
Business Association of Nagas (BAN) has appealed to Naga political groups to exempt tax to local entrepreneurs who have been struggling to succeed in business, and pointed out that 80 percent of the failed entrepreneurs in the state has blamed ‘illegal taxation’ as the reason for their failures. Expressing serious concern over the pressure of running and managing the business, BAN media cell in a press release, said that most of the registered genuine local entrepreneurs were running business without support from government nor were they given any protection in case of any unfortunate event.
As per the records, BAN highlighted that an estimate of 10-20 percent of the business run by local entrepreneurs closes down within two years, 40-50 percent shuts down within 5 years time, while more than 70 percent has been reportedly recorded "out of business" after "being in business" for more than 5 years.
Stating that it was hard for local business community to survive and run business in the State, BAN said that the success of a business establishment can be ascertained only if it can sustain and passed on to the next responsible generation with a well accumulated profits either in terms of stocks or financial deposits.
"More than 90 percent of Naga business persons is yet to see and experience such success. In fact, a lot of young Naga entrepreneurs' worry is how to keep the business going for the current month. Not even the year. That is the irony of our business community today", Ban said.
BAN also reaffirmed its commitment and responsibility towards strengthening and encouraging the genuine Naga entrepreneurs around the globe to take strong stand of creating a new Nagaland by building a firm economic foundation working harder as ever before.
Meanwhile, BAN also urged government-run departments, various companies and citizens to make firm commitment of buying goods and products from dealers, showrooms, vendors and managed by genuine Naga entrepreneurs.
