India has given many successful entrepreneurs to the world, but that count is very less. Our young India needs more and more local entrepreneurs to get rid of MNC's which are currently ruling the financial structure of our country. Below I have given some problems faced by young Indian techies when they want to start a venture.
Most Indians are basically from middle class families. In majority of cases they dont get much wealth from their parents. Their education is the only way for them to earn bread and butter. This is the real situation of most of the Indian youth. In that a less proportion of youth somehow manage to finish off their engineering and become engineers. But we have to think from where did they get the investment for their education. Because nowadays in India education has become a big business and unreachable for poor people. To make education reachable to all category of people government has taken many major steps, one among them is providing education loans to the students who take up the professional courses. Advantage of this facility is that even a poor student who cant provide any surety can also get a loan from nationalized banks for his education with less interest rates. But after his education he has to return that loan. If a student does engineering in India at the present situation he needs minimum 4 lakhs. So if he takes that much amount of money as loan before starting the career itself ,they will be having this responsibility or in simple words pressure of clearing the bank loan which stops them from thinking about entrepreneurship and forces them to go for job.
Apart from these financial problems ,there are many other reasons such as social problem. Usually if nobody in the family has given a try to entrepreneurship, then if an young man wants to give a try, whole family trys to stop him from doing that because they know it has risk and they dont want their boy to take the risk. In addition to this problem in a middle class family if a guy has brothers and sisters usually he will be having responsibility of eduction, marriage of his siblings which makes him to stay away from entrepreneurship because in a case his business strategy fails then he will be in big trouble. Starting to earn as early as possible in the career is the aim of most of the youth, they want to become independent also.
Another problem is related to strategies they make for their ventures. the major problem is getting initial investment is very difficult. even though if one is successful in getting initial investment his planning may be not efficient enough. Most of the young entrepreneurs are not aware of incubation centers which are in action in various metropolitan cities. The goal of these incubation centers is to provide guidance to the people who want to establish their own ventures. Incubation centers analyze your strategies, they predict its market feasibility and give you appropriate guidance. You can also expect financial assistance from incubation centers. These centers if they find your plans really interesting will also invest in your venture and take profit shares. But according experts most of the youth begin there ventures by getting inspired from someone , they wont be having a plan B also and inspiration remains for short time which leads to failure. So before establishing any venture try to take the training from incubation centers.
Apart from these financial problems ,there are many other reasons such as social problem. Usually if nobody in the family has given a try to entrepreneurship, then if an young man wants to give a try, whole family trys to stop him from doing that because they know it has risk and they dont want their boy to take the risk. In addition to this problem in a middle class family if a guy has brothers and sisters usually he will be having responsibility of eduction, marriage of his siblings which makes him to stay away from entrepreneurship because in a case his business strategy fails then he will be in big trouble. Starting to earn as early as possible in the career is the aim of most of the youth, they want to become independent also.
Another problem is related to strategies they make for their ventures. the major problem is getting initial investment is very difficult. even though if one is successful in getting initial investment his planning may be not efficient enough. Most of the young entrepreneurs are not aware of incubation centers which are in action in various metropolitan cities. The goal of these incubation centers is to provide guidance to the people who want to establish their own ventures. Incubation centers analyze your strategies, they predict its market feasibility and give you appropriate guidance. You can also expect financial assistance from incubation centers. These centers if they find your plans really interesting will also invest in your venture and take profit shares. But according experts most of the youth begin there ventures by getting inspired from someone , they wont be having a plan B also and inspiration remains for short time which leads to failure. So before establishing any venture try to take the training from incubation centers.
Indian youth is an ocean full of innovations it has been proved by many successful Indian entrepreneurs and those innovative ideas need support from family, society as well as from government. So this is it about entrepreneurship and Indian youth, i will come back to you soon with another brand new interesting article till then just wait...
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