An entrepreneur can be any individual who creates a new business from an idea and simultaneously bears all the risks and rewards associated with it. An entrepreneur is a starter, an initiator, a challenger, and a driver too. He may create a new business or revive an old business. Most entrepreneurs are driven by a passion to achieve something and in India; we need such passionate people who have all the energy to pursue their goals with age being on their side. The path of an entrepreneur is full of obstacles but leads to a destination that is worth all these hurdles. India with a high rate of unemployment needs such passionate and enterprising people who will not only employ themselves but provide employment to many more people thus helping the government to overcome this obstacle of unemployment.
India, a culturally diverse country with several different ethnicities and an enormous population base, consists of different people with innovative thinking and wide intellectual skills. India’s economy is growing and we hope in the next few years the growth figure touches double-digit. Entrepreneurs are needed as they can bring growth and create job opportunities for the masses. Entrepreneurial skills need to be nurtured in our academic curriculum where stress should be on skill set rather than stereotyped run-of-the-mill courses which only make one educated but not employable. Each year, lakhs of managers graduate from B-schools, Universities both Government and Private, but hardly very few want to be entrepreneurs as risk-taking is not easy because we are brought up that way. An entrepreneur has managerial skills, risk-taking skills, and innovations skills. Specific to India, more entrepreneurs are needed to capture the rising possibilities of business development.
Promoting Entrepreneurship is also very essential for the governments so that the burden of job creation does not fall entirely on them. With 65% of India’s population falling in the bracket of age 25 to 35 one can understand that the need for entrepreneurs is a top priority. Govt. cannot employ all this population. The private sector will have to chip in and entrepreneurs with small setups can employ a large population. More entrepreneurs in any society are an indication that it is moving from developing to developed. They are the blue-eyed boys of our economy, irrespective of gender. Anyone can become a manager with a few degrees, but not everyone has the skill to initiate a new business. India needs more entrepreneurs because they have their imagination, are willing to take the risk to achieve their goals and they also know when to take decisions. Entrepreneurs bring innovation, new ideas which make life simpler, huge Venture capitalists waiting to invest, fill gaps in the growth and development of the economy, and bring healthy competition. In the past decade, our youth has taken this challenge of entrepreneurial setups with various start-ups being launched.
The best part is the graduates from the best B schools and engineering institutes after passing out and gaining some experience are taking a plunge and setting up their ventures. Such entrepreneurs are a combination of youth, passion, intellect, innovation, and determination to succeed. These start-ups are not only in the contemporary domains but new and untapped areas like the agrarian sector, products related to environment protection, the concept of three “R” of waste management, etc. The best part of this recent trend of entrepreneurial setups is that capital investment is not very huge which may deter an individual. Many such successful entrepreneurial ventures have inspired a large number of youngsters who were under the notion that any venture requires a huge investment. Moreover, the government policies have also started encouraging such startups and hence the youth is taking a plunge and in turn giving employment to themselves and others and thereby helping the government by reducing the expectations of job creation from their end. The ideology amongst the denizens of the country is changing. Now the youth wants the concept of “being master of their own” rather than searching for “a master for themselves”. This is an encouraging trend for a progressive country like India.
– Dhruv Sharma