Entrepreneurship has been on the rise as a global phenomenon much before India began becoming sensitive to the development of entrepreneurship. However the awareness towards the path of entrepreneurship is now picking up a quick pace in our own country. India, today, is being viewed as one of the countries that are par excellence with the rest of the Asian countries as far as growing entrepreneurship is concerned.
Following a growing trend over the past few years, various colleges have been seeing a few graduates opt out of the placement rat race. They chose, instead, to set out on their own, diving into the sea of destiny with their own start-ups and innovative business ideas.
The question raised is as to what wave has struck the growing youth today that they prefer experimenting their startup ideas over a job worth a huge bank balance.
The answer seems a little obvious.
It’s no surprise that the uncertainty of employment, growth in confidence of the youth of India towards non conformity to taking up job and newer policies being introduced by the government towards encouragement of micro or small business development are the supports for the budding entrepreneurs today.
The varying market today has given a boost to the lack of confidence in the jobs offered at campus interviews. Moreover the students have a fire burning which help them in taking the risks offered by new startup opportunities. The desktop job running at the count of the clock seems a little boring to the youth today.
The greatest truth highlighting itself today is that the family trend of carrying on a single profession is losing foundation. Even a service man’s son is ready to give his business a try. The mental state of people is no longer locked to the thought: what if the business fails?”
This is a huge change in the right direction. The government today seems to be showing a green card to the growing business options. The venture capital (VC) in India, until about three years ago, was not as strong as a funding source and financing was entirely debt-oriented. But that is now changing as both China’s and India’s strong VC industries are expected to continue their rapid growth and development as they capitalize on strong GDP growth, growing domestic consumption and a dynamic entrepreneurial ecosystem.
Entrepreneurship has gained greater significance at global level under changing economic scenario. 2014 budget seems to have brought a huge gift for all the startups struggling to make a place in the market today. 10,000 crore startup fund for new businesses carved a smile on the face of all the budding entrepreneurs. All in all, the global economy in general and Indian economy in particular is poised for accelerated growth driven by entrepreneurship.