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Tanks and policy
EFINANCE- A SIMPLE WAY TO ENTREPRENEURSHIP DEVELOPMENT : 2014 The path for any start up without healthy financial background is very narrow and difficult. If we go back to analyse the youth population of India especially in non-metros and smaller cities, most of them don't have sound financial background and most of them who have, there is lack of documentation. EFINANCE- A SIMPLE WAY TO ENTREPRENEURSHIP DEVELOPMENT Practically, SME sector has always been a the next priority for the Government of India. A country reaching 1.5 billion population with 65 percent of them being in the category of 18-35 needs to fulfill the requirement of SMEs.The system has been so lethargic that there is reluctance to start a business. EFINANCE- A SIMPLE WAY TO ENTREPRENEURSHIP DEVELOPMENT The pace with which the developing world was expected to grow has been nullified in the last decade. Especially the South Asian countries being the prism of the so called development. EFINANCE- A SIMPLE WAY TO ENTREPRENEURSHIP DEVELOPMENT A simple road to catalyzed Development for the Developing world. The pace with which the developing world was expected to grow has been nullified in the last decade. Especially the South Asian countries being the prism of the so called development. Development primarily sees the GDP growth, Per Capita Income etc. EFINANCE- A SIMPLE WAY TO ENTREPRENEURSHIP DEVELOPMENT I read somewhere that the Big business houses provide employment to the majority of the population. And, that's why the Government, ThinkTanks and policy
EFINANCE- A SIMPLE WAY TO ENTREPRENEURSHIP DEVELOPMENT : 2014 The path for any start up without healthy financial background is very narrow and difficult. If we go back to analyse the youth population of India especially in non-metros and smaller cities, most of them don't have sound financial background and most of them who have, there is lack of documentation. EFINANCE- A SIMPLE WAY TO ENTREPRENEURSHIP DEVELOPMENT Practically, SME sector has always been a the next priority for the Government of India. A country reaching 1.5 billion population with 65 percent of them being in the category of 18-35 needs to fulfill the requirement of SMEs.The system has been so lethargic that there is reluctance to start a business. EFINANCE- A SIMPLE WAY TO ENTREPRENEURSHIP DEVELOPMENT The pace with which the developing world was expected to grow has been nullified in the last decade. Especially the South Asian countries being the prism of the so called development. EFINANCE- A SIMPLE WAY TO ENTREPRENEURSHIP DEVELOPMENT A simple road to catalyzed Development for the Developing world. The pace with which the developing world was expected to grow has been nullified in the last decade. Especially the South Asian countries being the prism of the so called development. Development primarily sees the GDP growth, Per Capita Income etc. EFINANCE- A SIMPLE WAY TO ENTREPRENEURSHIP DEVELOPMENT I read somewhere that the Big business houses provide employment to the majority of the population. And, that's why the Government, ThinkTanks and policy
EFINANCE- A SIMPLE WAY TO ENTREPRENEURSHIP DEVELOPMENT : 2014 The path for any start up without healthy financial background is very narrow and difficult. If we go back to analyse the youth population of India especially in non-metros and smaller cities, most of them don't have sound financial background and most of them who have, there is lack of documentation. EFINANCE- A SIMPLE WAY TO ENTREPRENEURSHIP DEVELOPMENT Practically, SME sector has always been a the next priority for the Government of India. A country reaching 1.5 billion population with 65 percent of them being in the category of 18-35 needs to fulfill the requirement of SMEs.The system has been so lethargic that there is reluctance to start a business. EFINANCE- A SIMPLE WAY TO ENTREPRENEURSHIP DEVELOPMENT The pace with which the developing world was expected to grow has been nullified in the last decade. Especially the South Asian countries being the prism of the so called development. EFINANCE- A SIMPLE WAY TO ENTREPRENEURSHIP DEVELOPMENT THURSDAY, JANUARY 16, 2014 STATE VENTURE CAPITAL FUND REQUIRED The path for any start up without healthy financial background is very narrow and difficult. If we go back to analyse the youth population of India especially in non-metros and smaller cities, most of them don't have sound financial background and most of them who have, there is lack of documentation. The passion is there, the inclination is there but it lacks the financial backup. This becomes the reason for fear of failure, lack of proper set-up and ecosystem for Entrepreneurship becomes weaker. Bank has been the main source of funding in India for new enterprises, and the start up culture is becoming mature in India in last 4-5 years. Banks have special criteria for funding a project, where they don't prefer funding a service sector project. And India has most of the start up in the service sector to serve its 1.5 billion population. Normally, a bank can't fund in the first three years of business without any mortgage or collateral. This becomes a problem for new enterprises and start ups. And, hence risk of start up failure is increases due to lack of funding support even when innovation, high opportunity cost is there. Indian States should create Venture Capital Fund to meet at least the seed capital for new enterprises, start ups, innovative business models. This will encourage the start up culture in the state especially with large youth population. This will provide a hand holding for start ups and provide enough motivation to the younger generations in the country. If India has to meet its required growth (I am using required to show the minimum growth to meet 1.5 billion population whose imports are very high, and system not so robust and efficient) it has to start SVCF. The earlier its done, the better thegrowth rate.
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at 1:35 AM
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SATURDAY, DECEMBER 21, 2013 INDIA REQUIRES START UP DRIVE I read somewhere that the Big business houses provide employment to the majority of the population. And, that's why the Government, Think Tanks and policy makers has never given the required thrust to Start ups. A country which requires small innovation in maximum process it follows to reach the last Indian, has to give the due stress to Start Ups. The mindset of the country can only changed by a Revolution for Start ups in the Country. While talking to many Angel investors and Venture Capitalists, it came out that certain cities in India are on their priority list and they cant move out of that their domain. Seeing the trends and choice of investors and VCs, the Administration that is the Government Agencies should take the initiative for a Start Up drive. It can start with following: 1. A SINGLE PLATFORM to register All the aspiring start Ups: It should carry all the details of Why, How, Where, When and by Whom the Start Up has been initiated. It should carry all the background, the vision, the mentors if available. 2. The support they require, their competitors, the growth project the Team is expecting and help they require. 3. Linkage and Network that has been provided by different individuals, organizations (Government or Non-Government). 4. A state level Chain of Start Up Analyzing Team across the Country, Funding Agencies their criteria of selection, Loans facility from Banks, support from Government etc. 5. A quarterly or yearly showcase of different start ups from Corresponding Chapters with growth statistics and projections. 6. New innovative models from experts, opportunities keeping in mind the socio-economic problem that the start up can solve. 7. A central monitoring committee to steadfast all the chapters and merge all reports to present it semi-annually for IMPACT ASSESSMENT. 8. A training drive at all the chapters in different states across the country regarding Business Plan mentoring, presentations, pitching in front of the investors, marketing and other support. 9. A dynamic board of Mentors to help start ups choose from the list and get specialized mentorship via the relevant Chapter. There can be much more modification and addition to this thoughts, but it has started working in a developing State in India.Posted by Unknown
at 3:31 AM
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FOR A NEW START UP
Some of the insights that has been generated globally for a New Start Up- 1. START WITH A PROBLEM, NOT JUST AN IDEA:Ideas are "free floating" — and most will never create a business value unless they solve a fundamental problem. Instead, start with a problem that is either unworkable, unavoidable, urgent or under served — or some combination of the four. Unworkable or unavoidable problems can spell big opportunity. When a problem is unworkable, find the person who could get fired if it isn't fixed — that person will be highly motivated to buy your solution. Unavoidable problems — such as accounting, regulation or even aging — will similarly give you a built-in set of potential customers. 2. NON-URGENT PROBLEMS WON'T BE A PRIORITY FOR POTENTIAL CUSTOMERS. "You have to have something that's in their top three priorities" to get a potential customer's attention. Most large enterprises also budget a year in advance, so your solution can't mean a net increase in cost for the company — so it needs to save money for another area in the business. 3. IN CONSUMER BUSINESS, NOT ALL NEEDS ARE BLATANT OR CRITICAL. Obvious critical needs can be the basis for huge businesses, of course. But latent needs — in which a consumer doesn't know they need it until after they've had it (example of Facebook) — can be powerful too. So can "aspirational" needs, such as nice clothing; a person aspires to fit into a certain sphere, so they're willing to buy the clothes regardless of other factors. 4. DON'T JUST AIM FOR "FASTER, BETTER, CHEAPER." That typically represents just an incremental change, and it will only be a matter of time before another company does it faster, better or cheaper than can do it. Instead, aim for breakthrough changes, 5. IF YOU'RE GOING TO PICK A FIGHT, PICK A BIG FIGHT. It's often just as much effort to go after a small fight as a big one. Disruptive innovation shouldn't have disruptive adoption. If it's too hard to adopt an innovation, it may never happen. 6. PURSUE SOMETHING YOU BELIEVE IN. The best value propositions are developed by people who are uniquely suited to tackle the problem. It has been observed that unlikely people find great business success through their passionfor the work.
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at 3:16 AM
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WEDNESDAY, SEPTEMBER 4, 2013 BOOST SMES (SMALL MEDIUM ENTERPRISES) TO ACHIEVE HIGHER GROWTH RATE. Practically, SME sector has always been a the next priority for the Government of India. A country reaching 1.5 billion population with 65 percent of them being in the category of 18-35 needs to fulfill the requirement of SMEs.The system has been so lethargic that there is reluctance to start a business. An individual in Indian context, also has an opportunity cost, however low it is. This opportunity cost is responsible to fulfill his or her family dreams, social obligations as far as Indian socio-environment is concerned.On an average if an individual start a business or want to start a venture, he has to gather information and research data about the offerings, he has to take necessary approvals, biggest challenge will Finance and then marketing capabilities. The zonal disparity in enterprising capability is often overlooked by the respective state Governments. The state don't have data about number of individuals entering entrepreneurship and the project cost of the executed project. In developed world, we have data regarding new startups, their executed project cost, funding provided and is made public. Just see www.startuploans.co.uk , a Govt. of UK initiative and we can see where we are.Posted by Unknown
at 5:47 AM
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MONDAY, JUNE 24, 2013 A SIMPLE ROAD TO CATALYZED DEVELOPMENT FOR THE DEVELOPING WORLD. The pace with which the developing world was expected to grow has been nullified in the last decade. Especially the South Asian countries being the prism of the so called development. Development primarily sees the GDP growth, Per Capita Income etc. Take for example India which was expected to overtake China in growth between 2020 and 2030 is far from meeting the expectation. Senior Economists Prof. Amartya Sen has already added credibility to the point. The reason for these south Asian countries not meeting the growth expectation has been the lack of Entrepreneurship Activity, its proper road map, execution body, performance indicators etc. None of the developing has Ministry for Entrepreneurship or even if they have created it is not functional.I don't understand why these countries and their strategists don't understand that the only way they can grow organically is through making their people enterprising. They should start making their people aware about the opportunities and importance of entrepreneurship and the contribution that it makes in country's development. If we take India's development story, it is much more concentrated now on its inner problems, rather than making a road map for entrepreneurship development. They don't have ministry for development, no performance indicators and no data on entrepreneurs created/ year. The entry process is slow, no advisory service culture available, finance has always been a problem because of lack of proper presentation of the proposal, and the exit process slower among other Asian countries. All these barriers make the population especially the youth in case of India reluctant towards business start up. Most of them want a job safer, comfortable, good if it is a government job as the work load is comparatively very low. Africa on the other side in spite of its lack of exposure to the outer world taking its guard in making people enterprising. And now the innovations is following the trajectory. If the ROAD MAP for Entrepreneurship Development to create more entrepreneurs/year is not defined very soon I think the developing nations especially India-The second most populated will only subtract to the growth of the world economy. Lack of enterprising skills, lack of smooth process for entrepreneurship leads to lack of confidence, lack of innovations, lack of competence, which leads dependency and hence to poverty. Hope we have a Ministry for Entrepreneurs in developing countries especially India; a country which has the highest number of workload from younger generation.This ministry should be an autonomous body free from country's internal problems. The ministry will declare quarterly report indicators about Entrepreneur Development, Smoothness in the process etc. A single and fast window for new start ups, complete lists of advisors, financers, approvals/licences, schemes etc. Hope for the Best with finger crossed!!!
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