What is Entrepreneurship?? Entrepreneurship is the implementation of an individuals talent in the resources in which he is available with; and expanding these resources in the future so that one can get individual as well as general i.e. social success.Who is an Entrepreneur?? An individual who organizes and operates a business or businesses, taking on financial risk to do so.
Importance of Entrepreneurship• Central to the development of economy• The micro and small enterprises (MSEs) constitute over 90% of total enterprises in most of the economies.• Employment generation.• MSE sector accounts for about 39% of the manufacturing output and around 33% of the total export of the India.
Phases of Entrepreneurship• There are broadly three phases of entrepreneurship1. The Beginning2. The Journey3. The New Beginning ( Yes, It’s Not the Destination )
Qualities of an Entrepreneur• Disciplined• Confidence• Open Minded• Self Starter• Competitive• Creativity• Determination• Strong people skills• Strong work ethic• Passion• And many more…
Entrepreneurship in India• India is ninth in the Global Entrepreneurship Monitor (GEM) survey of entrepreneurial countries• It is highest among 28 countries in Necessity based entrepreneurship, while 5th from the lowest in opportunity based entrepreneurship.• Entrepreneurship in India is basically necessity based. Number of individuals taking entrepreneurship as a career choice is much lower as compared to forced entrepreneurs