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Subject category: Entrepreneurship
Authors:
Pooja Darda (MIT World Peace University); Varsha Nerlekar (MIT World Peace University)
Published in:
2018
Length:
8 pages
Data source:
Field research

Abstract

Pooja Tiwari (Pooja), a homemaker, started a business and registered the company by the name 'Celebration Candles', after attending candle making workshop. Celebration Candles offers wide variety of candles for various purposes like corporate gifting, event decors, interior decoration for home and hotels, meditation centers and many others. By participating in various exhibitions in Mumbai, Pune and Nagpur, Celebration Candles has developed a good network in local market. Having improved on packaging and getting registered on Indiamart, Just Dial and various other wholesalers' websites, Celebration Candles became a recognized name in the candle business and the distribution was further expanded to Goa, Nagpur, Mumbai and Hyderabad. However, rise in threat of substitutes from China, increase in the cost of raw materials and rise in competition was leading to uncertain future for Celebration Candles. The losses were accumulating due to rising expenses and increasing competition. Pooja was worried about the future of her venture and was struggling to find ways to make it profitable. This case intends to discuss the challenges faced by entrepreneurs in SME sector due to increasing competition, dumping of cheap electrical substitutes by China and rising raw material costs. The case further discusses about the important steps to be taken while establishing a business so as to ensure the success.

Topics

Celebration candles growth challenges; SME sector entrepreneurship challenges; Successful business establishment; SWOT analysis for a business; Growth strategy analysis; Capturing domestic market; Capturing international market; New business establishment
Location:
Size:
Small
Other setting(s):
2018

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