Business Ideas for Beginners How to Start Small Business
Everyone wants to do something that gives them chance 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 number of risk and has its own advantages also. But the charm of being a master of you is always above any other form of work. To start your own venture you have to decide on many things. Making a choice of the right project is a difficult decision for an entrepreneur and is an imperative decision. To start a business of your own you need to understand the environment to set up an enterprise of you own. The small scale enterprise sector is a dynamic and vibrant segment of the Indian Economy.
Startup India Stand up
Our Prime Minister unveiled a 19-point action plan for start-up enterprises in India. Highlighting the importance of the Standup India Scheme, Hon’ble Prime minister said that the job seeker has to become a job creator. Prime Minister announced that the initiative envisages loans to at least two aspiring entrepreneurs from the Scheduled Castes, Scheduled Tribes, and Women categories. It was also announced that the loan shall be in the ten lakh to one crore rupee range.
A startup India hub will be created as a single point of contact for the entire startup ecosystem to enable knowledge exchange and access to funding.
Scope of entrepreneurship development in India
In India there is a dearth of quality people in industry, which demands high level of entrepreneurship development programme throughout the country for the growth of Indian economy.
The scope of entrepreneurship development in country like India is tremendous. Especially since there is widespread concern that the acceleration in GDP growth in the post reforms period has not been accompanied by a commensurate expansion in employment. Results of the 57th round of the National Sample Survey Organization (NSSO) show that unemployment figures in 2001-02 were as high as 8.9 million. Incidentally, one million more Indian joined the rank of the unemployed between 2000-01 & 2001-02. The rising unemployment rate (9.2% 2004 est.) in India has resulted in growing frustration among the youth. In addition there is always problem of underemployment. As a result, increasing the entrepreneurial activities in the country is the only solace. Incidentally, both the reports prepared by Planning Commission to generate employment opportunities for 10 crore people over the next ten years have strongly recommended self-employment as a way-out for teaming unemployed youth.
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