The entrepreneur business in India is thriving as compared to that ten years ago. There is a lot of activity happening in this field. Following are some of the observations on entrepreneurial activities in the country.
- Launching a new venture is no longer looked down by people:
- Proliferation of forums indicate strong levels of entrepreneurial activity:
- New generation has more propensity to take risks.
- Government has become more responsive and efficient:
- Entrepreneur still need to learn more skills:
- Investors are still conservative:
- Costly advertising and PR activities in e-commerce start up area:
- Technological reach is still limited to a few people:
Instead, now it is appreciated, if someone starts his own venture. It is a huge change from earlier days when doing something on your own was considered a wrong decision.
Groups on internet, social networking website, various networking seminars provide an easy way to understand the trends on entrepreneurship. Proliferation of such groups has helped the cause of entrepreneurship.
Younger generation, being more than ever connected and internet aware. is taking risks like never before and charting out the new paths.
It takes less than thirty days to register and operate a private limited company, unthinkable some years back. Every step can be done online making it very easy for entrepreneurs
Many entrepreneurial decisions are taken at the spur of the moment without much foresight to planning, finances and execution. Entrepreneurs need skill enhancements before they dirty their feet. Without some of the required skills, they fail and lose money.
Investors still don’t open up their wallet easily. The more riskier the project, the farther they are from them. The unrealistic targets and time lines set up by the investors impedes slow and steady progress of the enterprises. Long term funds for project ranging up to twenty years needs to be created.
A start up needs more PR than is normal. It is quite costly for an entrepreneur to do large scale advertising on his own. A discussion group on advising entrepreneurs on effective advertising and PR needs to be set up.
Though India is a leader in mobile revolution, internet penetration is still low. Lack of awareness about internet and various applications of it, is impeding the growth of a huge market.