Mariwala's advice to entrepreneurs: don't depend on govt,

Homegrown consumer goods major Marico's chairman Harsh Mariwala on Thursday advised entrepreneurs to identify new growth opportunities instead of instead of depending on the government for everything. The corporate doyen, who spends most of his time and resources on philanthropy and CSR running three not-for-profit ventures now, also advises corporate leaders to focus on their core business areas and be more compliant with regulations.

The comments are pertinent amidst many members of India Inc have gone belly up due to bad practices on one hand and frenetic expansion by many of them into unrelated business segments taking the entire groups down. "We expect too much from the government. The lesser the involvement of the government, it is better. We have to identify our own opportunities," Mariwala told reporters on the sidelines of an entrepreneurs conclave organised by his Ascent Foundation.

Stating that there is no dearth of funds for good projects, Mariwala said, "we should not depend on the government for everything. There are many funders for good projects. If you have a good project, you will get enough cash for sure". Explaining his mantra for being successful, Mariwala, who runs his foundations with his own personal wealth, said, "I try to make myself redundant. I am not abdicating but delegating responsibility to my efficient workforce. Moreover, I try to do things in highly compliant manner in terms of governance and therefore, I am not worried." Citing the example of the ongoing crisis at the Zee Group--where the promoter was forced to sell as much as 95 percent of his holding in group companies on the back of mounting debt, Mariwala said, "I am very clear that we have to focus on our core business and unlike many industrialists when there is surplus resources, they invest either in real estate or on land. I will never do that.

"I will only look at what is our core business and concentrate on that rather than trying to do too many unnecessary things that can put you back, as we have seen with so many organisations like the Zee Group." Meanwhile, a study by the Ascent Foundation and Mariwala Health Initiative on entrepreneurial well-being, and released at the conclave pointed out that managing and monitoring finances, workforce management and persistent fear of failure are leading to many entrepreneurs to call it quits. "Mental health and well-being is a critical challenge that has come under the spotlight with a number of organisations realising its value. The question of prime importance today is about the pressure building on the leaders of the organisations," Mariwala said.

"Majority of the around 190 participants in the study have said they experienced anxiety, confusion, irritability and frustration sometimes during their entrepreneurial journey," Mariwala Health Initiative director Rajvi Mariwala said..

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