Srinagar, July 06: Start-ups of more than hundred young Entrepreneurs across Kashmir valley are on verge of closure as their establishments remained shut since from a year post August 2019 when the state was bifurcated into two Union Territories followed by Lockdown in March 2020 amid Covid-19.
Since August 5, 2019, when Kashmir valley was under the giant communication blockade of several months, hardwork of many budding and dynamic Entrepreneurs from various areas who had started their business spooled as every single unit remained shut since from last one year and have decided to close their units as they are now not even able pay back the loan amount taken from various banks for their start-ups.
Various Entrepreneurs said that first it was the giant communication shutdown including internet blockade and now the Covid lockdown which hit their business units worstly even though they are now not in a condition to pay back the liabilities which ultimately led to the closure of all such units.
“It has now been more than a year since August 2019 that we are not even able to open up our shops again due to constant hartals, shutdowns, communication blockades and now this lockdown has shattered all my dreams of becoming a successful business woman Entrepreneur,” Shah Asia, a local entrepreneurs who runs a ladies boutique at Qamarwari told news agency Kashmir News Bureau.
She further said, “After the huge communication blockade which lasted nearly for about seven months we were not able to get back our daily customers and while we were just trying to recover the loss this lockdown vanished all our hopes and this time we are on verge of closure.”
Another young Entrepreneur said, “I have taken a loan amount of Rs 5.lakh from EDI to start my business unit and also started uploading photos of clothes, shoes, and bags on Instagram and WhatsApp which helped me a lot as I developed a clientele and started catering to them and my business was flourishing as the client who liked our collection also visited our business unit for shopping purpose.
But before I could think of expanding my business, unfortunately, I had to wind it up because of the closure of the internet service in Kashmir following the scrapping of the state’s special status and its bifurcation into two union territories and till now only. 2g service has been restored which is of no use at all and we are now about to close our units as I am not now even able to pay back the loan amount.”
Many such dynamic Entrepreneurs who depend on the internet to transact their business have also been affected badly as only 2g internet services have been restored across Kashmir valley after the huge blockade of seven months and that too is not as fruitful as it should be.