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All About ENTREPRENEURSHIP

When we talk about career prospects we generally talks about chances of getting a job or how our education can help us to absorb into a good job. Ultimately we are job seeker, but today we will talk about how we can become a job provider not a job seeker. Entrepreneurship is a popularly discuss subject and trend in recent times. Wikipedia has defined Entrepreneurship as the process of designing, launching and running a new business, which is more often than not, initially a small business, offering a product, process or service for sale or hire. And those people who create these businesses are known as entrepreneurs. There are two types of entrepreneurs, one is social entrepreneur another one is business entrepreneur. Social entrepreneur mainly focus on working with society or for social welfare where business entrepreneur is about doing profit making business. Here we will focus on business entrepreneurship.

Why entrepreneurship: The rising numbers of unemployment is the main cause of concern for a person and for the country today. Many a time, it is heard that people are not getting job as par their qualification and expectations. Most of our people think of getting a government job as a permanent solution to their life. But the numbers of available government job is much smaller than the numbers of qualified youth. Next option is getting a job in private sectors, but these days the numbers of jobs are getting saturated in private sectors. And therefore, entrepreneurship is taking a big push among the youth and government is also encouraging it. By becoming an entrepreneur one can become their own boss, can have flexible working hours and do the things of own interest.

Who can become an entrepreneur: Officially there are no specific qualifications required to become an entrepreneur. But ability to understand the rules-regulation and the law of the land, idea of managing accounts and having managerial & leadership skills can help one to start business venture. Any dedicated person with willingness to achieve goal and who can face challenges in life are eligible for this.

Few Common steps to start entrepreneurship:
1) Find out your area of interest.
2) Make a feasibility study in terms of financial resource, human resource and raw material resources (if any required) available with you.
3) List down the potential/ target customers.
4) Find out if there are any government schemes/ programs where you can get financial and knowledge support.
5) List out the possible challenges/ risk and list of possible competitors.
6) Make a chart of activity plan and assign time duration against each activity.
7) Meet and interact with some Entrepreneurs (Successful and failure both).

When one plan for entrepreneurship, one can make a replication of another’s business model/ product / services which is running successfully in another location or one can do it in innovative way which may be first of its kind.

Government Institution and initiatives where you can get and assistance-
1. Indian Institute of Entrepreneurs (http://iie.nic.in/) Guwahati
2. Ministry of skill development and Entrepreneurship (www.skilldevelopment.gov.in)
3. Department of Industry and Commerce Centre (https://diccassam.com/diccassam/)
4. Small Industrial Development Bank of India, Guwahati (www.sidbi.in)
5. MSME development institute, Guwahati (http://sisiguwahati.gov.in/)
6. Start UP India (http://startupindia.gov.in/): All Start-ups who have been incorporated or registered within past five years from the effective date of this are eligible to participate in this scheme. Simple online registration can help you to get financial assistance.
7. Stand UP India (www.standupmitra.in) : This facilitates to get loan up to rupees one crore to the SC/ST or women borrower per bank.
8. Micro Units Development and Refinance Agency Bank or MUDRA bank (www.mudra.org.in/) with a mission of the government ‘to create an inclusive, sustainable and value based entrepreneurial culture, in collaboration with our partner institutions in achieving economic success and financial security’.

Jagriti Yatra- Building India through enterprise: This is a 15 days train journey starts in Mumbai and ends in Mumbai covering 11 cities across the country which is organised every year in the month of December carrying around 450 likeminded youth from different part of the world to meet different successful entrepreneurs of the country with an aim to develop an entrepreneurship attitude among the youth by a not for profit organization. I have once joined this journey in 2013, where we met and interacted with around 15 entrepreneurs including Sachin Bansal of Flipcart in Bengaluru, Angshu Gupta of Goonj in Delhi, R. Madhaban, an mechanical engineer turned farmer from Chennai, Bunkar Roy of Barefoot college in Rajasthan are few of them. One can search these successful people’s story. This journey is an icebreaking journey and can open the door of entrepreneurship and to build a network of upcoming and existing entrepreneurs. To join this journey one need to apply though their website (http://www.jagritiyatra.com/) and need to write some essays for getting selected. Once you are selected, you need to pay a fee of about Rs. 50, 000 as the cost of the tour, but there is also scope of getting sponsorship to avoid the payment of fees.

Finally, there is a saying that ‘there is no short cut way of successes, therefore a hard working person with proper planning & vision can only achieve the success. Never doubt on your ability that- you cannot do it, see the world around you, people like you are only doing it. If you really work hard and with a ready to face challenges, success is guaranteed.

(The Article has already published in Assam Tribune News Paper in two parts on 7th August and 14th August 2017)

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