Canisius College Students in Free Enterprise (SIFE) and Rich Products Corporation recently partnered to help local businessman Kaji Sunwar bring a taste of home to the growing population of Bhutanese/Nepali refugees on Buffalo’s West Side. Sunwar opened Sagarmatha Groceries earlier this year. A grand opening celebration is planned at Sagarmatha Groceries, 489 Grant Street, tomorrow (April 28) at Noon.
Rich’s sponsored SIFE’s Classroom and Community Partnership for Economic Development (CACPED) Program, with a $30,000 loan to be used as a student-managed micro-loan initiative for small business start-ups across Buffalo’s West Side community. It was through CACPED’s Refugee Economic Development Initiative that SIFE students identified Kaji Sunwar as a community leader and businessman able to launch a business in an area that needs revitalization. SIFE loaned the total amount of Rich’s gift to Sunwar.
The students worked closely alongside Sunwar, one of the first 60,000 Bhutanese Nepali refugees permitted to resettle in the United States in 2008. The city’s West Side, Black Rock and Riverside sections are now home to nearly 2,000 Bhutanese Nepali immigrants.
Under the guidance of Patricia A. Hutton, PhD, professor of economics and finance and SIFE’s advisor, the students wrote a business plan for the grocery store. Students conducted market research to determine the general company description, inventory, services and pricing strategy. They examined startup expenses, equipment costs, staff budgets, and capital resources. The students also assisted with store set-up, marketing and advertising.
“Through the program, we are not only helping the community, we are giving our SIFE students the tools they need to successfully launch and run their own businesses,” said Hutton. “The students interact with Kaji every week and act as leaders through their strategic thinking and general knowledge. This is tremendous experience for our students.”
“We’re pleased to support Canisius SIFE as they strive to use sound business practices and instruction to educate, improve, and empower our local West Side community,” said Howard Rich, vice president of community relations. “More than 65 years ago, Rich’s began as a small business on the West Side. Over the years, through hard work and the support of our own mentors, our company has grown into a global enterprise. We are thrilled for the opportunity to give back to the community that has supported us.” To read more, click here.
