Burgeoning Online Business Networks In Manipur
By: Seram Neken
“Increasing corruption and bribery in recruitments for government jobs has indirectly influenced young people to jump to options for joining online network businesses. Many desperate job aspirants who have lost bribes to corrupt bosses do not scare to invest money for online earning.”
Lack of employment opportunities in both public and private sectors coupled with growing number of smart hi-tech guys, absence of work culture among the people, desire for quick and easy earning and increasing internet use among the youths have led to faster growth of online financial networking businesses in Manipur during the past few years. Numerous financial opportunities either fraud or genuine have penetrated into Manipur through the internet. Such multi-level marketing opportunities enthuse thousands of smart young people to work hard and earn huge amounts from these pyramid-structure businesses with the object of becoming quick millionaires. Of course, success in this endeavour needs unique qualities of convincing people along with skills of internet use. Thousands of wealthy people have invested lakhs of rupees so as to double or triple their wealth in just a few months. Although these opportunities may supposedly belittle the employment burden on the state, there is inherent risk in following most of these networks which can belie the high hopes of many in the state.
Internet has amazingly reduced all geographical and cultural barriers thereby realizing the much-talked about concept of Global Village. It provides a number of business opportunities to the present generation. Few among them are authentic while many are false traps which are setup by extra-ordinarily skilled technocrats. Although many frauds are reported recently, individuals still haven’t yet ended their venture in the new business opportunities. Networks of such types encourage people to invest money by promising huge returns in short period, and also to continuously lengthen the chain and widen the pyramid structure so as to earn from so-called binaries and sponsoring pay-outs. The schemes are so attractive that an average person who attentively listens to it will surely join the chain in haste and begin investing his wealth. The enthusiasm is so high that one does not scare to risk.
There are positive social and economic impacts of these burgeoning online businesses on Manipur society. It increases the internet use among people thereby widening their exposure to the global businesses. As such businesses need smartness, marketing and communication skills, and hi-tech banking skills, growth of online networks certainly benefited many educated youths in improving their talents. It has helped mould an amazing hi-tech generation by imbibing knowledge on tele-conferencing, internet banking, wire transfer and so on. As there is less employment opportunities for educated people in the state, such dealings have helped reduce the amount of unemployment burden in Manipur. Increasing corruption and bribery in recruitments for government jobs has indirectly influenced young people to jump to options for joining online businesses. Many desperate job aspirants who have lost bribes to corrupt bosses do not scare to put money for online earning. Businessmen and contractors are reportedly the highest investors apart from political leaders who stealthily accumulate their wealth for use during elections. Moreover, if any of the schemes is genuine and able to effect real pay-outs, the beneficiaries of the state will surely be richer in no time. The networking business also increases people-to-people contact, positive thinking, smartness, love and co-operation among the participating groups creating an environment of peaceful co-existence and big hopes.
Network marketing comprises of demerits as well. Individuals are fooled by these online ventures many a time. Huge loses have been reported in the past. When the company turns out to be fake and fraudulent, lots of money is lost and it creates enmity among the beneficiaries. While the terms and conditions which they present to one might be very attractive, there’s also some thing harmful as one may be cheated at the end. The state’s economy will face a sharp downfall. Educated youths will be compelled to indulge in fraudulent practices in future. The heavy in-flow of quick and easy earning opportunities creates a tendency where people hesitate to put real labour for earning income. In spite of working hard, they begin to vie for anything new on the internet so as to be on top and benefited the most. It keeps the work culture at bay.
Thousands of so-called pyramid schemes invade the anxious people with beautiful turnovers quick and easy. In such programmes, the incomes of those distributors at the top and the profits to the sponsoring corporations certainly come from a continuous influx of new investors at the bottom. Viewed superficially in terms of company profits and the wealth of an elite group at the pinnacle of the industry, the model can appear viable to the uninformed people, just as all pyramid schemes do before they collapse or are exposed by authorities.
Internet is a sea filled with opportunities and fooling in online is also not new. Blindly following the chains and investing huge amounts may sometimes lead to desperation. Study and enquiry on the authenticity of the offer is a must. If one comes across any pessimistic reviews relating to that business, then the offer may be rejected immediately. At the same time, the state government or any related agency may pay some intellectual attention to these escalating online investment businesses and make the general people aware of the dangers and benefits of the same. Otherwise, the trend will lead to a great loss to the state.