Patience, hard work shows her success
 

by Irangika Range

If somebody wants to achieve something, even though it may take patience, and hard work, there is no doubt that one will do it.

Engaging in home-based businesses such as growing mushroom, manufacturing chewing gum and designing batiks as a 13-year-old school girl, her dream was to reach the top in the business.

Indira Kulatilake, today has achieved many accolades in her business life as the Chairperson of Exchange and Finance Investments Ltd, EFI Travels and Tours (Pvt) Ltd and the Managing Director of the Universal Labels (Pvt) Ltd.

"Although I came from a business family background, I got involved in the business after I married Bertie Kulatilake in 1971.

At that time the export of garments had just started and my husband and I thought it was the right time to start supplying accessories for the garment trade. We had our family property to set up the factory. It was the emergence of the Unitag Industries Ltd in 1980. While my husband continued his job as a Refrigeration Engineer in the Elephant House, I took training and started the label weaving industry.

Label weaving was a new technology to Sri Lanka at that time and I had only two weeks to train under a Japanese expert to set up the machines.

Starting with four people and two looms, the company grew step by step and she could save Rs. one million in the very first year. My husband could only help me after work so I had to manage the whole day getting orders, getting the designs done and producing, delivering and keeping accounts. It was really hard work because sometimes, I got up early morning at 3 a.m. to prepare machines to concentrate the designing of labels since productivity was the only way to the export market. Gradually they increased their employees to 20.

Her husband was also fully involved in the business. They were very keen to update technology always. The shuttle rooms were developed to the needle rooms and finally into fully computerised label looms.

She said that upgrading machinery has always improved the quality of labels. In 1995, they invested money to promote technology and to repair looms. The company changed its name as a Universal Labels (Pvt) Ltd. and registered under the BOI.

At the start they had power cuts which resulted in some of the computers being burnt out. "We couldn't pay the bank loan and our bank even didn't help us by re-structuring. The bank kept compounding the repayment that we could never actually pay up.

Finally the bank decided to foreclose and published the sale notice in the newspapers.

They appealed to the Supreme Court. In the two years the appeal has been heard at the courts while the productivity has been processed steadily in the factory. Finally the judgment was in their favour. They were asked to pay Rs. 7 million immediately and the balance in instalments within the next 5 years. We had saved up almost Rs. five million so it was not too difficult to find the balance.

She said that she has learnt never to be disappointed or be afraid.

I always think I can do it and I will do it in the best possible way. I always believe that if somebody wants to be a successful entrepreneur he/she should have two or three options. If one is disappointed when something does not work, there is another way, which is open for you always.

Entrepreneurs should be brave, innovative, keeping courage and being humble and should move forward against any obstacle and reach the goals set for ourselves. Expanding the business, the company purchased more efficient and latest label machines investing Rs. 23 million from Singapore and these machines will be set up at the factory by December.

Exchange and Finance Investments Ltd is her family business and after her father's death in 1969 her brother took over the company.

But he also passed away in 1989 and all responsibilities came to her.

Having gained experience for last 25 years, she wanted to improve her business in an appropriate way under a strong partnership.

Today, The Exchange and Finance Investment Ltd is a member company of the Hemas Group having General Sales Agent for Alitalia and Kenya Airways.

Now she is in the process of handing the business to her children.

Most of her free time she plays the organ which gives her much pleasure. Presently her elder son, Roshantha is involved with Universal Labels (Pvt) Ltd, while the younger son Shanil works at the Exchange and Financial Investments Ltd.

"I wanted to invest in the travel and tour industry which develops rapidly in all over the world. The EFI Travels and Tours (Pvt) Ltd was set up in 1997. Today all these businesses are running successfully and they have over 80 employees at the Universal Labels (PVT) equipping state of the art facilities while ISO-9002 has been awarded to the company in 2004.

It is not easy to keep the balance in working as a businesswoman, wife and mother in this busy world. I was so fortunate that I could manage my time in working at home and in the office. My husband and children are very supportive in giving me enough courage. We always worked on our concept and shared the successes and disappointments.

Indira has also been working in an honorary capacity as a Board Member in the Women Chamber of Industry and Commerce since 1998.

She was elected as a chairperson in 2001. "I have been involved in Women in business and bi-annual award ceremonies to recognise women in micro, small, medium and large enterprises.

After the tsunami, they initiated the programme called 'Woman Back to Business' which provided equipment and machinery to help affected women restart their businesses. The programme is going on successfully at the moment with funds.

With her wealth of experience, she advises any woman who wants to start a business to make a plan and do a feasibility study. 'Be committed, focused and make trust to your work', she said.

Achieving many goals in her career, she was honoured as a leading woman entrepreneur in the World in 2003 which was awarded by the Star Group in the USA and it was the first time a Sri Lankan woman has obtained this award.

She has also been selected as one of the best businesswomen among best 50 women in the world.