What Leads Indian Youth to Become Entrepreneurs
India is land, which is rich with not only culture, minerals but talents. Anywhere you go, any country, there will be one Indian doing the most crucial job. There is no shortage of talent in India and the entrepreneurial revolution has sky rocketed in showcasing these skills in larger picture and in universal platform.
A study by the market research firm Zinnov said, India, which is home to about 4.88 crore small and medium business ( SMB )s provides employment to 81.16 million individuals and is all set to become the largest SME nation globally.
Micro enterprises account for 95% of total SMBs, small & medium put together hold the remaining 5% share and 55% of SMBs are located out of urban cities whereas 45% are situated in rural areas.
Technavio has released a new market research report on the global SMB and SME NAS market, which is expected to generate revenues of $18 billion between 2016 and 2020. The report also read that global SMB and SME NAS market is set to grow at a CAGR of 33% by 2020.
Here are the reasons that are driving Indian youth to become Entrepreneurs:
Indian youth basically the students post their higher education do not get the right opportunity to showcase their talents. They get disheartened when they willingly try to implement their ideas due to negligence by the seniors or due to office politics.
These youth have found new platform to bring out those suppressed ideas and ignored talents through entrepreneurship, by opening a business venture of their own. They go to any limit to make their mark in the big world of entrepreneurs.
Study reveals that a certain number of students get the opportunity to get into IITs, IIMs and other good colleges, but the equally talented students happen to get rejected for mere marks or due to lack of sufficient money.
These students who have been rejected by the circumstances have been accepted wholeheartedly by the entrepreneur world. One can witness that there are entrepreneurs, businessmen who have not even succeeded in finishing their basic education but are successful in running their business.
There are ups and downs in life as well as in business but those who dare to move ahead, they only succeed.
The Indian youth is not scared of taking any risks in business or life. The Indian youth is confident and trusts its instincts. The budding entrepreneurs take pride in standing tall against the big brands or big players in the market, they are determined to follow their heart and use their mind in doing the best, and they can for their business.
Growing Unemployment Rates:
There are limited employment opportunities for the Indian youth, even though some are too good yet fail to save their seat in best companies, moreover the ones who could not fetch the cutoff marks, they have been offer the opportunity to start their own ventures in whatever field they want to pursue their career on.
Even the government has come forward to help the youth tackle with unemployment problem and provide opportunities for them. There are international players who are keen to invest in these budding domestic players.
Indian education system asks the students to mug up and fetch marks rather than developing the skills or polishing the edges of the students, which is why many students who skillful fail to deliver the desired result.
Skill development sector has provided the platform for these skillful students to polish their skills and start a venture of their own.