The document defines an entrepreneur as someone who takes risks to introduce new business, technology, or production methods. While entrepreneurs may sometimes copy others' success, they organize resources to contribute to economic development. The document then discusses the history of entrepreneurship in Bengal/Bangladesh, including the impact of European traders and the industrial revolution. It notes how entrepreneurship declined under British rule but has grown since the 1990s in small and medium businesses. The document concludes by outlining the entrepreneurial development cycle, including stimulatory, support, and sustaining activities needed for small and medium enterprises.

2.  “One who is ready to take risk and
play the role of an innovator in the
field of new business, introduction
of technology and production
methods and effectively organize
human resources and agents of
production and contribute
meaningfully to the socio-economic
development of the society.”

3. An entrepreneur may not always
be an ‘innovator’ but an
‘imitator’ who would be tempted
to copy the success stories of
others.

4.  Work for others-climb up the
ladder, or
 Take risk and become an
entrepreneur

5.  It is precondition for sustained
economic development of a
country.

6.  Have motivation to initiate new
ventures using-knowledge,
experience, money, management
capability and take risk.

7.  Francois Bernier: (1625-1688) French
Physician traveled to Bengal.
 Saw traders in Bengal export through
land and sea-sugar, salt, rice, silk,
cotton, jewelry, ivory to as far away
place as Arabia and Iran
 Ship building was a major industry

8.  Money lending was a big business (Gopinath
Seth, Ramkrishna seth, Laxmikanth Seth,
Shovaram Basak, Umichand, Jagath Set)
 European traders came and the local traders
faced uneven competition from them.
 The effect of English Industrial Revolution of
18th
. Century.
 From export of finished products we started
exporting raw materials to feed the I/R

9.  Pauperization of Bengal began
 Successive famines made capital
accumulation impossible
 Bengal economy gradually passed on
to the English traders and
entrepreneurs. The existing small
industries and businesses just broke
down.

10.  The growth of feudalism brought
about a change in the social
fabric of Bengal.

11.  Partition brought displacement of people.
 What even entrepreneurship developed it
happened in WB.
 Jamindari System (feudalism) was
abolished in 1950.
 Some now had capital from the
compensation paid to them by the
government.

12.  1955: First five year plan of Pakistan.
 New financial institution (IFC, HBFC,
RRFC, ADFC, ADB, IDB) created.
 The local Bengali potential
entrepreneurs did not get much
assistance from them.
 Entrepreneurship was concentrated
amongst the non-Bengalis of WP.

13.  New countries inherit new
problems.
 Problem
1. Rehabilitation
2. Reconstruction
3. Administration
4. International Relations
5. Economic Management

14. 1972-75
 Nationalization
 Abandoned Property-from shops
to factories
 Political and Labour unrest

15. 1975-81
 Revision of investment policy
 Black money whitening
 De-Nationalization

16. 1981-90
 New Policy:
1. Involvement of Private Sector
2. Public sector focus on basic
and heavy industries

17. 1990s+
Beginning of a new entrepreneurial
era
New opportunities discovered, mostly
in small and medium scale

-Poultry farming
 -Cattle rearing -Furniture
 -Nursery -Horticulture
 -Service -Cane work
 -Embroidery -Tailoring
 -Food preservation -Small scale
engineering
 -Fishing -Glass blowing
 -Printing -Non traditional
(alligator
farm, mushroom,
bamboo, ceramic

18. Facilitator of new entrepreneurial
era
 General awareness
 Public mobility
 Informed and educated
generation
 Demonstration Effect
 Change in attitude from being an
employee to an employer
 ‘Can do it’ generation.

19. Problems faced by entrepreneurs
 Absence of proper policy decision
 Lack of proper financial support
 Lack of awareness of incentives provided
by the government
 Lack of campaign about areas of
entrepreneurship
 Lack of proper training facilities of
entrepreneurs
 Lack of integrated package
assistance/stimulating, support and
sustaining activities needed for SMEs
(Entrepreneurial Development Cycle.)

20. Entrepreneurial Development Cycle
Stimulatory
 Entrepreneurial education
 Publicity for entrepreneurial
opportunities
 Identification of potential entrepreneurs
 Motivational training for new
entrepreneurs
 Identifying areas of operation
 Making available techno-eco
information
 Organizing entrepreneurial forum

21. Entrepreneurial Development
Cycle (Contd)
Support
 Registration of unit with govt. agencies
 Arranging finance
 Providing utilities, land etc.
 Guiding procurement of equipments
 Guiding sourcing of raw materials
 Granting tax relief
 Offering management consultancy
 Help marketing products

22. Entrepreneurial Development
Cycle (Contd)
Sustaining
 Help modernization
 Help expansion through diversification
 Additional financing
 Facilitating quality testing
 Help re-engineer products or services
 Help find additional market

23. Any Questions?Any Questions?
Copyright © by Houghton Mifflin Company. All rights reserved. 9–23

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