Everyone wants to do something that gives themchance to earn more money and it is possible by becoming an entrepreneur.Starting your own business is one of the few remaining paths to wealth.Entrepreneurship is one of the critical decisions to be made and it involves numberof risk and has its own advantages also. But the charm of being a master of youis always above any other form of work. To start your own venture you have todecide on many things. Making a choice of the right project is a difficultdecision for an entrepreneur and is an imperative decision. To start a businessof your own you need to understand the environment to set up an enterprise ofyou own. The small scale enterprise sector is a dynamic and vibrant segment ofthe Indian Economy.
Startup India Stand up
Our Prime Minister unveiled a 19-point action planfor start-up enterprises in India. Highlighting the importance of the StandupIndia Scheme, Hon’ble Prime minister said that the job seeker has to become ajob creator. Prime Minister announced that the initiative envisages loans to atleast two aspiring entrepreneurs from the Scheduled Castes, Scheduled Tribes,and Women categories. It was also announced that the loan shall be in the tenlakh to one crore rupee range.
A startup India hub will be created as a singlepoint of contact for the entire startup ecosystem to enable knowledge exchangeand access to funding.
Scope ofentrepreneurship development in India
In India there is a dearth of quality people inindustry, which demands high level of entrepreneurship development programmethroughout the country for the growth of Indian economy.
The scope of entrepreneurship development incountry like India is tremendous. Especially since there is widespread concernthat the acceleration in GDP growth in the post reforms period has not beenaccompanied by a commensurate expansion in employment. Results of the 57thround of the National Sample Survey Organization (NSSO) show that unemploymentfigures in 2001-02 were as high as 8.9 million. Incidentally, one million moreIndian joined the rank of the unemployed between 2000-01 & 2001-02. Therising unemployment rate (9.2% 2004 est.) in India has resulted in growingfrustration among the youth. In addition there is always problem ofunderemployment. As a result, increasing the entrepreneurial activities in thecountry is the only solace. Incidentally, both the reports prepared by PlanningCommission to generate employment opportunities for 10 crore people over thenext ten years have strongly recommended self-employment as a way-out forteaming unemployed youth.