In recent years, many young people have been migrating abroad in search of employment and better life prospects. They blame the unstable government and falling economy at home, which offer no opportunities. Despite this trend, there is still hope for those who wish to succeed locally. A new chapter is being written by those who choose to return home, equipped with skills, savings, and a burning desire to make a difference at their own place. According to the news report published in this daily, a returnee from South Korea has transformed his rural community through innovative agribusiness. After seven years abroad, earning a substantial income, he returned to Nepal only to face the harsh realities of unemployment.

However, he pivoted, channelling his overseas earnings and newfound skills into commercial cultivation. What began as a personal venture, has now become a collective endeavour, with the formation of a 20-member farmers' group. The scale of investment has exceeded Rs. 40 million. This shows the potential of returnee-led enterprises to inject capital into rural economies. The group has planned to establish a processing centre for papaya juice production, leveraging a public-private partnership model. This approach demonstrates how returnees can bridge the gap between primary agriculture and add value in the uplifting of economic diversification.

This is not just about economic growth. It is about reversing the trend of brain drain, about progress of the nation that doesn't just export labour but creates job opportunities within the community. It also tapped a global network of Nepali expertise and channelled it towards national development. The ripple effects could be profound. Every successful returnee entrepreneur becomes a hope for others abroad, contemplating their own return and following suit. They become role models for youth, showing that one does not need to leave their country to make a buck.

Their entrepreneurial spirit and innovative ideas contribute to the growth of the startup ecosystem in Nepal. Nevertheless, it requires an urgent need for systemic reforms to create a more conducive environment for startups and small businesses. Also, a multifaceted approach is essential. Educational institutions must play a pivotal role in fostering an entrepreneurial mindset from the grassroots level. The private sector, particularly established businesses, should step up as mentor and potential investor in these emerging ventures.

The government has a Returnee Entrepreneurship Programme to create employment opportunities and to harness the knowledge, skills, and capital of the returnees. But the government's initiatives often fall short of addressing the multifaceted needs of these returnee entrepreneurs. Financial support and skill development programmes are commendable, but they must be complemented by comprehensive support systems. In order to enhance the ecosystem, it is essential to streamline business registration processes, establish robust mentorship networks, and foster industry-academia partnerships.

The government should also focus on a holistic approach, including improvements in infrastructure, education, healthcare, and good governance, to provide an encouraging environment for returnees to explore something new. The success of returnee businesspersons could be the inspiration that propels the nation towards sustainable and inclusive growth. It is a time for all the stakeholders —government, private sector, and civil society — to come together in supporting the economic ventures of the returnees, thereby contributing to build a resilient economy. Their successful enterprises also serve to debunk a misleading saying: the grass is always greener on the other side of the fence.

Published on: 7 August 2024 | The Rising Nepal