The CEO Network breakfast meet

Amidst the unstable weather conditions and natural disasters prevailing in most parts of the country, on 31 October 2012, many CEOs gathered at 8 Degrees, Cinnamon Lakeside, to partake in the CEO Network.

The CEO Network is a newly-formed brand under which McQuire Rens & Jones, Cinnamon Lakeside, and ART Television have come together to organise a series of breakfast meetings for leaders in the corporate world, which include chairmen, CEOs, and directors of top companies in Sri Lanka.

Following a sumptuous buffet breakfast, distinguished business leader K. Ravindran (Ravi, to most), Managing Director of Print Care Plc and the first Sri Lankan to become International Director of Rotary International, delivered a very informative talk on ‘Entrepreneurship in South Asia – The Commitment and Obligation’.

He spoke of his own experience as an entrepreneur and on entrepreneurship in South Asia. He explained that what is an accepted norm for people trying to set up business in the Western world is a struggle for us.

As an example, he explained situations of the total lack of capital and financial innovation and that most start-up companies lacked the necessary capital to start their own business. With underdeveloped capital markets, entrepreneurs in South Asian economies often use informal sources of finance to crystallise their ideas.

In contrast, he explained that in the Western world there are investors who are looking to back such entrepreneurs. There are specialised companies interested in investing in such innovative start-ups. They also have a vibrant IPO system to take companies public and which serves as an excellent exit mechanism for promoters or venture capitalists. There is also an active mergers and acquisition culture.

He also spoke at length on other issues confronting entrepreneurs in South Asia, giving examples of fickle and populist Government policies and a constant backtracking on commitments previously made, poor infrastructure with acute shortages in power, the dearth of educated labour, steep swings in both interest rates and exchange rates, and a high degree of corruption and graft.

His view was that successful entrepreneurs all had some voluntary assistance or other from sources who themselves were not looking for repayment of their kindness and thus the need for our successful entrepreneurs to make use of their skills to support other deserving people. He said that’s the only way to repay the debts incurred when they built their business or enterprise

Nalin Jayasuriya, Managing Director & CEO of McQuire Rens & Jones, welcomed the invitees and after a brief description of the event and the professional services undertaken by McQuire, introduced Ravindran. The Project Lead and Master of Ceremonies was Akitha Kulasena, who handles overseas and local projects for McQuire.

The CEO Network is held every other month and is an invitee-only event. Breakfast is open at 7:30 a.m. and the Guest Speaker presents from 8:20 a.m. to 8:50 a.m., followed by a Q&A session. By 9 a.m. or 9:15 a.m., the attendees get back to their respective organisations.

ART television will telecast this edition of the CEO Network breakfast meetings on 17 November at 7 p.m. with a repeat program on 24 at 12 noon.