This document compares the role of entrepreneurship in the economic growth of India and China. It finds that both countries have experienced rapid economic development since liberalizing their economies in 1978 (China) and 1991 (India). This growth has been closely linked to rising entrepreneurial activity, as evidenced by the Global Entrepreneurship Monitor. While political and historical factors have shaped entrepreneurship differently in each country, the ability of institutions to adapt to a changing global business environment will be important for continued growth. China has transitioned from a centralized to market economy since joining the WTO, while India's democracy has a long history of entrepreneurship in certain communities that is now spreading more broadly.
Funding of small scale development agencies in nigeriaAlexander Decker
The document discusses funding of Industrial Development Centres (IDCs) in Nigeria. IDCs were established by the Federal Government to provide assistance to small-scale businesses. The study assessed whether 12 selected IDCs across Nigeria's four zones received adequate funding to carry out their roles from 1990-1999. The results showed that each IDC received less than 50% of its required funding during this period. For example, in the North Central/Western zone, the three IDCs combined received 54.21% of their total funding requirement. To address inadequate funding, the document recommends IDCs diversify their sources of funding.
Full thesis patrick onuorah - the role of small and medium sized enterprise...Jarchin Raj
This document summarizes a study on the role of small and medium enterprises (SMEs) in economic growth in Nigeria. The study surveyed 200 SMEs in Matori, Lagos state to understand their profitability, impact on employment and infrastructure, and relationship with financial institutions and technology. The results found that while SMEs are profitable, issues like inconsistent policies and poor infrastructure undermine their potential. SMEs employ many people but need more support to hire more. Financial institutions are attracted to areas with SMEs but loans have high interest rates. The study confirms SMEs' role in economic growth and recommends the government provide more support through infrastructure, financing, policies and technology to help SMEs maximize their
The document discusses entrepreneurship in India and its importance to the economy. It notes that small businesses are key to equitable economic growth as they fuel development and job creation. However, MSMEs still face challenges accessing funds due to their high risk profile. The document then provides an overview of entrepreneurship in India, contributions of small businesses to the economy, sources of funding, common challenges, and opportunities in the sector.
This document discusses conducting a PEST analysis to evaluate the environmental suitability for developing entrepreneurship in Bangladesh. It provides background on entrepreneurship in Bangladesh historically and currently. It outlines the scope of the study, reviews relevant literature on factors influencing entrepreneurship development. This includes discussing economic and non-economic factors, the social and economic background of Bangladesh, conditions for women entrepreneurs, and problems associated with entrepreneurship development. The document proposes using PEST analysis to evaluate the political, economic, social, and technological environment in Bangladesh to identify opportunities and challenges for growing entrepreneurship.
Entrepreneurs play a vital role in the economic development of a country. They mobilize capital from households to form capital goods for production. This leads to capital formation. Entrepreneurs also generate employment opportunities by setting up new business concerns, especially in labor-oriented industries. This improves living standards. Entrepreneurs encourage effective utilization of idle funds and natural resources in a country and promote balanced regional development by establishing businesses where resources and labor are available.
American Research Journal of Humanities & Social Science (ARJHSS) is a double blind peer reviewed, open access journal published by (ARJHSS).
The main objective of ARJHSS is to provide an intellectual platform for the international scholars. ARJHSS aims to promote interdisciplinary studies in Humanities & Social Science and become the leading journal in Humanities & Social Science in the world.
Role of Entrepreneur’s in Economic DevelopmentJaikumar Pandit
Entrepreneurs play a key role in economic development by creating wealth and jobs, promoting balanced regional growth, and increasing GDP and standards of living. They mobilize capital for new businesses, employ many workers, and locate in less developed areas to spur infrastructure growth there. Their businesses produce goods and services that contribute to national income and output, raising GDP and per capita income. Entrepreneurs also introduce new and improved products that enhance living standards and remove supply shortages. Their exports can expand markets while stabilizing revenue during domestic economic downturns. Community development through education and skills training is important to build a workforce that attracts new businesses and promotes long-term economic prosperity.
Funding of small scale development agencies in nigeriaAlexander Decker
The document discusses funding of Industrial Development Centres (IDCs) in Nigeria. IDCs were established by the Federal Government to provide assistance to small-scale businesses. The study assessed whether 12 selected IDCs across Nigeria's four zones received adequate funding to carry out their roles from 1990-1999. The results showed that each IDC received less than 50% of its required funding during this period. For example, in the North Central/Western zone, the three IDCs combined received 54.21% of their total funding requirement. To address inadequate funding, the document recommends IDCs diversify their sources of funding.
Full thesis patrick onuorah - the role of small and medium sized enterprise...Jarchin Raj
This document summarizes a study on the role of small and medium enterprises (SMEs) in economic growth in Nigeria. The study surveyed 200 SMEs in Matori, Lagos state to understand their profitability, impact on employment and infrastructure, and relationship with financial institutions and technology. The results found that while SMEs are profitable, issues like inconsistent policies and poor infrastructure undermine their potential. SMEs employ many people but need more support to hire more. Financial institutions are attracted to areas with SMEs but loans have high interest rates. The study confirms SMEs' role in economic growth and recommends the government provide more support through infrastructure, financing, policies and technology to help SMEs maximize their
The document discusses entrepreneurship in India and its importance to the economy. It notes that small businesses are key to equitable economic growth as they fuel development and job creation. However, MSMEs still face challenges accessing funds due to their high risk profile. The document then provides an overview of entrepreneurship in India, contributions of small businesses to the economy, sources of funding, common challenges, and opportunities in the sector.
This document discusses conducting a PEST analysis to evaluate the environmental suitability for developing entrepreneurship in Bangladesh. It provides background on entrepreneurship in Bangladesh historically and currently. It outlines the scope of the study, reviews relevant literature on factors influencing entrepreneurship development. This includes discussing economic and non-economic factors, the social and economic background of Bangladesh, conditions for women entrepreneurs, and problems associated with entrepreneurship development. The document proposes using PEST analysis to evaluate the political, economic, social, and technological environment in Bangladesh to identify opportunities and challenges for growing entrepreneurship.
Entrepreneurs play a vital role in the economic development of a country. They mobilize capital from households to form capital goods for production. This leads to capital formation. Entrepreneurs also generate employment opportunities by setting up new business concerns, especially in labor-oriented industries. This improves living standards. Entrepreneurs encourage effective utilization of idle funds and natural resources in a country and promote balanced regional development by establishing businesses where resources and labor are available.
American Research Journal of Humanities & Social Science (ARJHSS) is a double blind peer reviewed, open access journal published by (ARJHSS).
The main objective of ARJHSS is to provide an intellectual platform for the international scholars. ARJHSS aims to promote interdisciplinary studies in Humanities & Social Science and become the leading journal in Humanities & Social Science in the world.
Role of Entrepreneur’s in Economic DevelopmentJaikumar Pandit
Entrepreneurs play a key role in economic development by creating wealth and jobs, promoting balanced regional growth, and increasing GDP and standards of living. They mobilize capital for new businesses, employ many workers, and locate in less developed areas to spur infrastructure growth there. Their businesses produce goods and services that contribute to national income and output, raising GDP and per capita income. Entrepreneurs also introduce new and improved products that enhance living standards and remove supply shortages. Their exports can expand markets while stabilizing revenue during domestic economic downturns. Community development through education and skills training is important to build a workforce that attracts new businesses and promotes long-term economic prosperity.
Entrepreneurship provides numerous economic benefits to a country including increasing employment opportunities, creating new industries, and generating higher incomes. It allows for the utilization of local resources and human capital, leading to higher production, exports, and overall economic growth. Successful entrepreneurial activities can decrease social problems like crime and increase government tax revenue. This in turn can attract more tourism and foreign investment, creating a virtuous cycle of further job opportunities and economic stimulation.
Impact of globalization on small scale industries inAafaq Malik
The document discusses the impact of globalization on small scale industries in India. It notes that globalization and liberalization have led to increased competition for small industries from large foreign companies. This competition has negatively impacted small industries in India, with many being forced to close down due to cheaper imports. However, small industries remain important for India's economic growth by providing employment opportunities and equitable income distribution across the country. The document analyzes growth trends in small industries before and after liberalization to understand the effects of globalization.
Small and medium Enterprises (SMEs) play an important role in the modern economy; the research aims to identify the role of small and medium enterprises in the economic development in the Arab Republic of Egypt and identify the most important problems and obstacles facing these projects , The results show that, Egypt has 2.5 million small, medium and micro enterprises, representing 99% of the total non-agricultural projects, about 78% of these projects did not receive any banking facilities, The performance SMEs is very weak in terms of export to foreign markets. SMEs can contribute in the process of accelerating development because it does not require huge investments at the same time, and is able to increase employment and mobilize small individual savings, as well as help in the preparation of technical cadres. It also enables the development of exports, including the acquisition of foreign currency and thus improving the balance of payments of developing countries, in addition to their contribution to the formation of a balanced industrial sector that serves the national economy, However Small and medium enterprises in Egypt face many problems that limit the ability to develop them. This sector is still suffering from basic obstacles such as difficulty obtaining finance and guarantees, and many other difficulties related to the inappropriate business environment, laws and regulations, poor infrastructure and banking so that Egyptian government must put a clear approach and specific objectives for the development of these projects.
Promoting graduates’ interest in small business entrepreneurship in gboko loc...Alexander Decker
This document discusses promoting graduates' interest in small business entrepreneurship in Gboko Local Government Area of Benue State, Nigeria. It aims to determine this interest and the level of promotion for careers in small business. The study uses surveys of 30 graduates who participated in an entrepreneurship workshop. The findings show graduates are interested in businesses like fashion design, welding, and hairdressing. Establishing small businesses depends on factors like entrepreneurship training and access to startup capital. The document recommends the government create an enabling environment to encourage graduates to start their own small businesses.
The Role of Governments as Relationship Mediation Between Social Capital and ...inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
The Importance of Entrepreneurship and Information Technology for SMEs Strate...ijtsrd
The policy of developing the economic model of a country aims to stimulate all economic sectors to advance and develop into strengths on a regional and national scale. Micro, small and medium enterprises SMEs have become one of the most effective engines in developing economic market patterns in almost all countries and regions of the world. SMEs that contribute to this economic sector are the largest contributors to the pattern of advanced economies that drive competitive economic growth. SMEs actors have become the driving force of the economy and this must be recognized by the State in terms of their participation. The significant role of SMEs in the economies of world countries is very crucial in reviving and stabilizing and nourishing the global economy where their role will be seen in the conditions that SMEs fail or succeed in their journey. Basically, SMEs have little in having the driving capital of their business to develop and generally do not have much technical capability which causes them to be low in all circumstances and lack of access to develop capital for their future investment. In addition, the development of SMEs has become an important mechanism of how to develop economic growth, create jobs, and alleviate poverty from economic types. This article specifically discusses small scale entrepreneurshiphip and increases the use of information technology in the mission of supporting performance and competitive advantage. small business actors. The main purpose of this article is how to contribute positive thoughts to entrepreneurship or entrepreneurship in the use of entrepreneurial orientation, information technology in building strategic planning to support business performance and towards competitive advantage for entrepreneurship, especially SMEs. Lena Ellitan "The Importance of Entrepreneurship and Information Technology for SMEs Strategic Planning" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd42479.pdf Paper URL: https://www.ijtsrd.commanagement/new-venture-startup/42479/the-importance-of-entrepreneurship-and-information-technology-for-smes-strategic-planning/lena-ellitan
Impact of Globalization on Small Scale Industries in (1)Russel Shaik
Globalization has negatively impacted small-scale industries in India. Before globalization, small industries were an important part of the Indian economy, contributing significantly to output, exports, and employment with low investment and high job creation. However, since market liberalization in 1991, small industries have struggled with increased competition and a decline in the number of units, production, and employment. While globalization opens new opportunities, small industries must improve technology to survive intensified competition in the global market.
Role of Finance and Organizational Climate on Entrepreneurial Development amo...ijtsrd
Entrepreneurship is a key driver of economic growth and economic development. It is also a medium through which unemployment can be reduced and innovation can be promoted. It is a fact to say that entrepreneurship is a panacea for poverty reduction and eradication which is one of the cardinal eight point agenda of Millennium Development Goals. Entrepreneurship is seen as a key vehicle for employment creation, creation of economic wealth, and an essential means of enhancing the innovation dynamics in the local, regional and national economies Chris 2010 . Entrepreneurship provides a satisfying and rewarding working life, provides a flexible lifestyle and considerable business autonomy. It is becoming an increasingly important career option for unemployed people, secondary school and university graduates. At the national level, entrepreneurial activity contributes to economic growth and economic development Chris 2010 . Many researchers have written extensively on entrepreneurship and its effectiveness to the development of any given economy. Akanni 2008 further opined that the experiences of developed economies in relation to the roles played by entrepreneurship buttresses the fact that the significance of entrepreneurship cannot be overemphasize particularly among developing countries. In order to highlight its importance in relation to the growth and development of a given economy, entrepreneurship has been variously referred to as "source of economic growth". This is because entrepreneurial activities have been found to be capable of making positive impact on the economy of a nation and the quality of life of the people Adejumo, 2000 . Ojo Adeshina Akinwumi | Abifarin Olusola Michael | Dr. Okoklie Emmanuel Azuka "Role of Finance and Organizational Climate on Entrepreneurial Development among Selected Residents" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-4 , June 2020, URL: https://www.ijtsrd.com/papers/ijtsrd30297.pdf Paper Url :https://www.ijtsrd.com/other-scientific-research-area/other/30297/role-of-finance-and-organizational-climate-on-entrepreneurial-development-among-selected-residents/ojo-adeshina-akinwumi
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
The Journal will bring together leading researchers, engineers and scientists in the domain of interest from around the world. Topics of interest for submission include, but are not limited to
Since the mid-1980s, sustainable development has been generally used but got predominance
when it became progressively fashionable to use it as a way of reacting to global environmental concerns,
biophysical issues, fairness, equity and distribution. The issue of sustainable development has been a growing
concern to both the government
Development of small and medium enterprises in a developing country indnesian...Kacung Abdullah
This document discusses small and medium enterprises (SMEs) in Indonesia. It finds that SMEs make up over 99% of businesses and employ over 96% of the workforce. However, they face significant constraints, especially lack of access to financing. While women entrepreneurs are increasing, they still only represent about 29% of SMEs due to factors like education levels, household responsibilities, and cultural norms. SMEs also have low innovation capabilities due to challenges such as lack of skills and capital. The development of SMEs in Indonesia is important but continues to be hampered by barriers.
This document discusses saving, investment, and resource mobilization for economic planning in India. It covers:
1) The definitions and importance of saving and investment for economic growth. High saving and investment rates can help break out of the "vicious cycle" of poverty, while low rates trap economies.
2) Trends showing India's saving and investment rates have been relatively low, along with factors contributing to this like population growth and consumerism. Suggestions to increase rates include expanding banking and reducing non-development spending.
3) The various sources and components of financing India's Five-Year Plans, including budgetary resources, deficit financing, and external financing from abroad. Maintaining a balance between development
Capital formation is the process of increasing a country's capital assets through investing in productive infrastructure and equipment. This promotes economic development by raising productivity, technological progress, and standards of living. In developing countries, capital formation relies on both domestic and external resources. Domestically, capital comes from voluntary savings, involuntary savings (e.g. taxes), government borrowing, and utilizing idle resources. Externally, foreign economic assistance such as loans and grants are important sources of capital that help bridge savings gaps, increase employment and productivity, and provide access to new technologies. While necessary, capital alone is not sufficient for development - other factors like education, government effectiveness, and social attitudes also significantly influence economic progress.
1. The document discusses the meaning, need, and factors affecting entrepreneurship. It defines entrepreneurship as the process of designing, launching, and running a new business to generate profit, while bearing risks.
2. The need for entrepreneurship includes job creation, innovation, community development, integration of outsiders, and enhancing standards of living. Economic factors like capital, labor, raw materials, market, and infrastructure influence entrepreneurial development.
3. Social factors such as caste, family system, and values & beliefs also impact entrepreneurship by shaping people's basic norms and behaviors.
This document discusses entrepreneurs as the creative force in the economy and how governments can help or hinder them. It defines entrepreneurship and notes that entrepreneurs drive innovation and economic growth. However, they face challenges from business environment factors like government policies. The document examines how the Nigerian government has implemented programs to support entrepreneurs through training and loans to foster job creation and economic development, but still presents hindrances such as high interest rates and lack of basic infrastructure. It concludes that while support is given, more must be done to reduce barriers facing entrepreneurs.
The role of entrepreneurship in economic developmentAlexander Decker
This document discusses the role of entrepreneurship and small and medium enterprises (SMEs) in economic development in Nigeria. It provides definitions and theoretical frameworks of entrepreneurship. A study was conducted of 100 SMEs randomly selected across Nigeria to identify challenges they face. Major findings include that SMEs play significant roles in economic growth but have performed below expectations in Nigeria due to problems such as poor management skills, lack of infrastructure, and unstable government policies. The document argues that developing managerial capacity is important for strengthening SMEs and their contributions to the Nigerian economy.
Role of entrepreneurship in national economic developmentAmit Gupta
This document discusses the role of entrepreneurship in economic growth in India and China. It provides background on the recent economic development of both countries since liberalizing their economies in 1978 (China) and 1991 (India). Entrepreneurial activity has played a key role in the manufacturing and services sectors that have driven growth. While political and historical factors have influenced entrepreneurship development differently in each country, both still face challenges like corruption and bureaucracy that hamper business. The ability of institutions to adapt to changing global business conditions will be important for continued economic progress.
Significance of entrepreneur in economic developmentmehakarora305
The document discusses the concept of entrepreneurship. It defines an entrepreneur as an individual who takes initiative to establish a business and works on their own risk. Entrepreneurs are key figures in economic growth who coordinate various factors of production, take risks, and innovate through new combinations. The document outlines different types of entrepreneurs and the functions they perform such as organizing, managing risk, innovating, and making decisions. Entrepreneurship is important for economic development as it generates employment, income, and innovation.
This document discusses entrepreneurship and economic development. It defines economic growth as an increase in a nation's output over time, while economic development refers to progressive socioeconomic changes that ensure social justice. Growth alone is not sufficient; development must lead to equity, opportunities, and human enrichment. The document examines different views of entrepreneurs as economic agents who take risks and create new combinations. It explores how entrepreneurs drive growth by exploring opportunities, converting ideas into businesses, and combining factors of production to create new products and services. Their work generates employment, income, taxes, wealth, productivity, output, and exports. Entrepreneurship is creating value through recognizing opportunities and managing associated risks through innovative and creative means.
Entrepreneurship provides numerous economic benefits to a country including increasing employment opportunities, creating new industries, and generating higher incomes. It allows for the utilization of local resources and human capital, leading to higher production, exports, and overall economic growth. Successful entrepreneurial activities can decrease social problems like crime and increase government tax revenue. This in turn can attract more tourism and foreign investment, creating a virtuous cycle of further job opportunities and economic stimulation.
Impact of globalization on small scale industries inAafaq Malik
The document discusses the impact of globalization on small scale industries in India. It notes that globalization and liberalization have led to increased competition for small industries from large foreign companies. This competition has negatively impacted small industries in India, with many being forced to close down due to cheaper imports. However, small industries remain important for India's economic growth by providing employment opportunities and equitable income distribution across the country. The document analyzes growth trends in small industries before and after liberalization to understand the effects of globalization.
Small and medium Enterprises (SMEs) play an important role in the modern economy; the research aims to identify the role of small and medium enterprises in the economic development in the Arab Republic of Egypt and identify the most important problems and obstacles facing these projects , The results show that, Egypt has 2.5 million small, medium and micro enterprises, representing 99% of the total non-agricultural projects, about 78% of these projects did not receive any banking facilities, The performance SMEs is very weak in terms of export to foreign markets. SMEs can contribute in the process of accelerating development because it does not require huge investments at the same time, and is able to increase employment and mobilize small individual savings, as well as help in the preparation of technical cadres. It also enables the development of exports, including the acquisition of foreign currency and thus improving the balance of payments of developing countries, in addition to their contribution to the formation of a balanced industrial sector that serves the national economy, However Small and medium enterprises in Egypt face many problems that limit the ability to develop them. This sector is still suffering from basic obstacles such as difficulty obtaining finance and guarantees, and many other difficulties related to the inappropriate business environment, laws and regulations, poor infrastructure and banking so that Egyptian government must put a clear approach and specific objectives for the development of these projects.
Promoting graduates’ interest in small business entrepreneurship in gboko loc...Alexander Decker
This document discusses promoting graduates' interest in small business entrepreneurship in Gboko Local Government Area of Benue State, Nigeria. It aims to determine this interest and the level of promotion for careers in small business. The study uses surveys of 30 graduates who participated in an entrepreneurship workshop. The findings show graduates are interested in businesses like fashion design, welding, and hairdressing. Establishing small businesses depends on factors like entrepreneurship training and access to startup capital. The document recommends the government create an enabling environment to encourage graduates to start their own small businesses.
The Role of Governments as Relationship Mediation Between Social Capital and ...inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
The Importance of Entrepreneurship and Information Technology for SMEs Strate...ijtsrd
The policy of developing the economic model of a country aims to stimulate all economic sectors to advance and develop into strengths on a regional and national scale. Micro, small and medium enterprises SMEs have become one of the most effective engines in developing economic market patterns in almost all countries and regions of the world. SMEs that contribute to this economic sector are the largest contributors to the pattern of advanced economies that drive competitive economic growth. SMEs actors have become the driving force of the economy and this must be recognized by the State in terms of their participation. The significant role of SMEs in the economies of world countries is very crucial in reviving and stabilizing and nourishing the global economy where their role will be seen in the conditions that SMEs fail or succeed in their journey. Basically, SMEs have little in having the driving capital of their business to develop and generally do not have much technical capability which causes them to be low in all circumstances and lack of access to develop capital for their future investment. In addition, the development of SMEs has become an important mechanism of how to develop economic growth, create jobs, and alleviate poverty from economic types. This article specifically discusses small scale entrepreneurshiphip and increases the use of information technology in the mission of supporting performance and competitive advantage. small business actors. The main purpose of this article is how to contribute positive thoughts to entrepreneurship or entrepreneurship in the use of entrepreneurial orientation, information technology in building strategic planning to support business performance and towards competitive advantage for entrepreneurship, especially SMEs. Lena Ellitan "The Importance of Entrepreneurship and Information Technology for SMEs Strategic Planning" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd42479.pdf Paper URL: https://www.ijtsrd.commanagement/new-venture-startup/42479/the-importance-of-entrepreneurship-and-information-technology-for-smes-strategic-planning/lena-ellitan
Impact of Globalization on Small Scale Industries in (1)Russel Shaik
Globalization has negatively impacted small-scale industries in India. Before globalization, small industries were an important part of the Indian economy, contributing significantly to output, exports, and employment with low investment and high job creation. However, since market liberalization in 1991, small industries have struggled with increased competition and a decline in the number of units, production, and employment. While globalization opens new opportunities, small industries must improve technology to survive intensified competition in the global market.
Role of Finance and Organizational Climate on Entrepreneurial Development amo...ijtsrd
Entrepreneurship is a key driver of economic growth and economic development. It is also a medium through which unemployment can be reduced and innovation can be promoted. It is a fact to say that entrepreneurship is a panacea for poverty reduction and eradication which is one of the cardinal eight point agenda of Millennium Development Goals. Entrepreneurship is seen as a key vehicle for employment creation, creation of economic wealth, and an essential means of enhancing the innovation dynamics in the local, regional and national economies Chris 2010 . Entrepreneurship provides a satisfying and rewarding working life, provides a flexible lifestyle and considerable business autonomy. It is becoming an increasingly important career option for unemployed people, secondary school and university graduates. At the national level, entrepreneurial activity contributes to economic growth and economic development Chris 2010 . Many researchers have written extensively on entrepreneurship and its effectiveness to the development of any given economy. Akanni 2008 further opined that the experiences of developed economies in relation to the roles played by entrepreneurship buttresses the fact that the significance of entrepreneurship cannot be overemphasize particularly among developing countries. In order to highlight its importance in relation to the growth and development of a given economy, entrepreneurship has been variously referred to as "source of economic growth". This is because entrepreneurial activities have been found to be capable of making positive impact on the economy of a nation and the quality of life of the people Adejumo, 2000 . Ojo Adeshina Akinwumi | Abifarin Olusola Michael | Dr. Okoklie Emmanuel Azuka "Role of Finance and Organizational Climate on Entrepreneurial Development among Selected Residents" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-4 | Issue-4 , June 2020, URL: https://www.ijtsrd.com/papers/ijtsrd30297.pdf Paper Url :https://www.ijtsrd.com/other-scientific-research-area/other/30297/role-of-finance-and-organizational-climate-on-entrepreneurial-development-among-selected-residents/ojo-adeshina-akinwumi
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
The Journal will bring together leading researchers, engineers and scientists in the domain of interest from around the world. Topics of interest for submission include, but are not limited to
Since the mid-1980s, sustainable development has been generally used but got predominance
when it became progressively fashionable to use it as a way of reacting to global environmental concerns,
biophysical issues, fairness, equity and distribution. The issue of sustainable development has been a growing
concern to both the government
Development of small and medium enterprises in a developing country indnesian...Kacung Abdullah
This document discusses small and medium enterprises (SMEs) in Indonesia. It finds that SMEs make up over 99% of businesses and employ over 96% of the workforce. However, they face significant constraints, especially lack of access to financing. While women entrepreneurs are increasing, they still only represent about 29% of SMEs due to factors like education levels, household responsibilities, and cultural norms. SMEs also have low innovation capabilities due to challenges such as lack of skills and capital. The development of SMEs in Indonesia is important but continues to be hampered by barriers.
This document discusses saving, investment, and resource mobilization for economic planning in India. It covers:
1) The definitions and importance of saving and investment for economic growth. High saving and investment rates can help break out of the "vicious cycle" of poverty, while low rates trap economies.
2) Trends showing India's saving and investment rates have been relatively low, along with factors contributing to this like population growth and consumerism. Suggestions to increase rates include expanding banking and reducing non-development spending.
3) The various sources and components of financing India's Five-Year Plans, including budgetary resources, deficit financing, and external financing from abroad. Maintaining a balance between development
Capital formation is the process of increasing a country's capital assets through investing in productive infrastructure and equipment. This promotes economic development by raising productivity, technological progress, and standards of living. In developing countries, capital formation relies on both domestic and external resources. Domestically, capital comes from voluntary savings, involuntary savings (e.g. taxes), government borrowing, and utilizing idle resources. Externally, foreign economic assistance such as loans and grants are important sources of capital that help bridge savings gaps, increase employment and productivity, and provide access to new technologies. While necessary, capital alone is not sufficient for development - other factors like education, government effectiveness, and social attitudes also significantly influence economic progress.
1. The document discusses the meaning, need, and factors affecting entrepreneurship. It defines entrepreneurship as the process of designing, launching, and running a new business to generate profit, while bearing risks.
2. The need for entrepreneurship includes job creation, innovation, community development, integration of outsiders, and enhancing standards of living. Economic factors like capital, labor, raw materials, market, and infrastructure influence entrepreneurial development.
3. Social factors such as caste, family system, and values & beliefs also impact entrepreneurship by shaping people's basic norms and behaviors.
This document discusses entrepreneurs as the creative force in the economy and how governments can help or hinder them. It defines entrepreneurship and notes that entrepreneurs drive innovation and economic growth. However, they face challenges from business environment factors like government policies. The document examines how the Nigerian government has implemented programs to support entrepreneurs through training and loans to foster job creation and economic development, but still presents hindrances such as high interest rates and lack of basic infrastructure. It concludes that while support is given, more must be done to reduce barriers facing entrepreneurs.
The role of entrepreneurship in economic developmentAlexander Decker
This document discusses the role of entrepreneurship and small and medium enterprises (SMEs) in economic development in Nigeria. It provides definitions and theoretical frameworks of entrepreneurship. A study was conducted of 100 SMEs randomly selected across Nigeria to identify challenges they face. Major findings include that SMEs play significant roles in economic growth but have performed below expectations in Nigeria due to problems such as poor management skills, lack of infrastructure, and unstable government policies. The document argues that developing managerial capacity is important for strengthening SMEs and their contributions to the Nigerian economy.
Role of entrepreneurship in national economic developmentAmit Gupta
This document discusses the role of entrepreneurship in economic growth in India and China. It provides background on the recent economic development of both countries since liberalizing their economies in 1978 (China) and 1991 (India). Entrepreneurial activity has played a key role in the manufacturing and services sectors that have driven growth. While political and historical factors have influenced entrepreneurship development differently in each country, both still face challenges like corruption and bureaucracy that hamper business. The ability of institutions to adapt to changing global business conditions will be important for continued economic progress.
Significance of entrepreneur in economic developmentmehakarora305
The document discusses the concept of entrepreneurship. It defines an entrepreneur as an individual who takes initiative to establish a business and works on their own risk. Entrepreneurs are key figures in economic growth who coordinate various factors of production, take risks, and innovate through new combinations. The document outlines different types of entrepreneurs and the functions they perform such as organizing, managing risk, innovating, and making decisions. Entrepreneurship is important for economic development as it generates employment, income, and innovation.
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The document discusses entrepreneurship and introduces key concepts:
1) Entrepreneurship is creating something new of value by devoting time and effort while accepting risks and potential rewards.
2) An entrepreneur actively starts and leads their own business to grow and prosper by recognizing opportunities and managing resources.
3) Entrepreneurship can lead to innovation, job creation, and economic growth through organizing resources and creating new products/services.
This powerpoint presentation defines entrepreneurship and discusses its history and modern applications. It begins by defining an entrepreneur as someone who organizes and manages a business while taking on financial risk. It notes that agricultural students have been involved in entrepreneurship since the early 20th century through programs like raising livestock and growing crops. Today, agricultural entrepreneurship can involve many diverse activities beyond farming like custom harvesting or operating a small engine repair service. The presentation concludes by discussing characteristics of successful entrepreneurs and different types like social and lifestyle entrepreneurs.
The Impact on of Entrepreneurial and small business on Economic Growth of Ni...adeyinka adekunle
This document is a project submitted by Odebunmi Adekunle Timothy to the National Open University of Nigeria in partial fulfillment of the requirements for a Bachelor of Science degree in Entrepreneurial and Business Management. The project examines the impact of entrepreneurship and small businesses on Nigeria's economic growth.
It begins with an introduction and statement of the problem. It then reviews relevant literature on entrepreneurship, small businesses, and their role in economic development. The study uses primary data collected through questionnaires and interviews with small business owners in Ibadan. Statistical analysis is conducted to test various hypotheses about the relationship between entrepreneurship, small businesses, and economic growth in Nigeria. The findings suggest that small businesses play an
The document discusses entrepreneurship and the entrepreneurial process. It defines entrepreneurship as taking risks to create new value through time and effort. The key functions of entrepreneurs are innovation, risk taking, and organizing new businesses. The stages of the entrepreneurial process include opportunity analysis, planning, acquiring funding, implementing plans, and growing the business. A business plan is also essential, outlining the industry, product/services, marketing, finances, and risks of the new venture.
Impact of Entrepreneurship on National Development in JamaicaStephen Jones
This document discusses the impact of entrepreneurship on national development in Jamaica. It defines entrepreneurship and national development. Entrepreneurship is developing and managing a business to make a profit, while national development improves social welfare through education, healthcare, infrastructure, etc. Positive impacts of entrepreneurship in Jamaica include job creation, regional development, improved standards of living, and overall growth. However, wastage and depletion of resources can also occur. Sociocultural and political/economic factors shape entrepreneurship as well. On balance, entrepreneurs benefit economies through job creation, competition, poverty reduction, and more, though inefficiencies sometimes happen.
The document discusses entrepreneurship, defining it as starting a new business and taking on the associated risks. It notes that entrepreneurs risk more than employees but also have more potential for reward. The pros of entrepreneurship are listed as making your own rules, enjoying your work, creating wealth, and helping your community, while the cons include potential business failure, unexpected obstacles, and financial insecurity early on. Successful entrepreneurs like Thomas Edison, P.T. Barnum, and Steve Jobs are mentioned. Characteristics of entrepreneurs like courage, creativity, and determination are also outlined.
Part One of Entrepreneurship Lecture Notes on Students Enterprise Club at www.studentsenterpriseclub.com.
This is a Study guide for intending Entrepreneurs.
Entrepreneurship and economic developmentAima Buttar
The document defines entrepreneurs and entrepreneurship. It discusses the role of entrepreneurs in economic development through job creation, employment, and skills development. It also mentions that entrepreneurs promote capital formation, create large-scale employment, help reduce economic inequality, and improve standards of living. The document then discusses different training methods for employees, both on-the-job and off-the-job. It also outlines the process of creativity, including problem recognition, immersion, incubation, insight, and verification. Finally, it briefly discusses the Japanese experience with entrepreneurship and concludes that the development of entrepreneurship is influenced by various environmental factors.
The document discusses economic growth and entrepreneurship in Pakistan. It outlines Pakistan's growth experience, current growth strategy, and proposes a new growth strategy focused on consensus building, governance reforms, security, and leveraging Pakistan's strategic potential in areas like transit and logistics. Charts show Pakistan has lower investment and savings rates than regional peers. Infrastructure and institutions also lag countries like Malaysia and Thailand, representing challenges to growth. A new strategy aims to address these issues.
This document discusses the role of entrepreneurship in economic development. It defines entrepreneurship as setting up a business or becoming self-employed. Entrepreneurs play key roles in economic development by promoting capital formation, creating employment opportunities, and stimulating balanced regional growth. They help increase gross national product, per capita income, and standards of living. Entrepreneurs also induce backward and forward linkages between industries and facilitate overall economic development. The conclusion states that entrepreneurship development depends on factors like the economic, social, political, and cultural environment.
This document discusses entrepreneurship development as a common course for BCom/BBA students at the University of Calicut School of Distance Education. It covers topics such as the evolution of the concept of entrepreneur, definitions of entrepreneur and entrepreneurship, characteristics of entrepreneurs, risks involved in entrepreneurship, barriers to entrepreneurship, and factors affecting entrepreneurial growth. The document provides an overview of key concepts in entrepreneurship development.
Types of Business & Business Ownerships/ Choosing Your teen based businessJeronicaLogan
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A theory of efficiency for managing the marketing executives in nigerian banksAlexander Decker
This document summarizes a study examining efficiency in managing marketing executives in Nigerian banks. The study was examined through the lenses of Kaizen theory (continuous improvement) and efficiency theory. A survey of 303 marketing executives from Nigerian banks found that management plays a key role in identifying and implementing efficiency improvements. The document recommends adopting a "3H grand strategy" to improve the heads, hearts, and hands of management and marketing executives by enhancing their knowledge, attitudes, and tools.
Entrepreneurs are innovative, open-minded, energetic, creative, motivated, visionary, imaginative, pro-active individuals who are not afraid of taking risks. These entrepreneurial qualities can benefit society. The document discusses how entrepreneurship can be useful for society by highlighting positive traits of entrepreneurs.
The document summarizes a seminar presentation about the role of entrepreneurship in economic development. It defines an entrepreneur as someone who creates an enterprise and discusses why someone should become an entrepreneur, including being your own boss and having personal satisfaction. It then lists features of successful entrepreneurs like creativity and risk-taking. Finally, it discusses the role of entrepreneurship in economic development, such as capital formation, improving living standards, and generating employment.
Sino Indian Economic Relations Competition And Partnership[1]GAUTAM MURTHY
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This document summarizes sectoral foreign direct investment (FDI) inflows to India from April 2000 to December 2010. It finds that the services sector attracted the most FDI, totaling $106,992 crores, followed by computer software and hardware with $44,611 crores. The top ten sectors that received FDI inflows were services, computer software and hardware, telecommunications, housing and real estate, construction activities, power, automobile industry, metallurgical industries, petroleum and natural gas, and chemicals. These top ten sectors accounted for approximately 70% of total FDI inflows to India during this period.
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- The largest sources of FDI for India are Mauritius, Singapore, the US, and the UK. However, FDI flows to India are still lower than China.
- Key sectors receiving FDI are services, software/hardware, telecom, real estate, and power. However, FDI is concentrated in a few states and regions like Mumbai and Delhi.
This document summarizes a paper presented at an international conference on technology and business management regarding foreign direct investment (FDI) in India. It provides background on the role of FDI in economic development and India's liberal FDI policies. It then analyzes FDI inflows to India by country and sector from 2007-2010. The top three source countries were Mauritius, Singapore, and the US, accounting for over 60% of total inflows. The top three sectors by FDI were services, computer software and hardware, and telecommunications, with services receiving the largest share at 21% of total FDI. The document concludes by discussing the growth and opportunities in several major sectors that have attracted significant FDI to India
Economic Growth of Information Technology (It) Industry on the Indian Economyijcnes
Information Technology (IT) is an important emerging sector of the Indian Economy. IT in India is an industry comprising of two noteworthy segments IT administrations and business process outsourcing (BPO).The segment has expanded its commitment to Indias GDP from 1.2% in 1998 to 9.3% in 2015. According to NASSCOM, the segment amassed incomes of US$147 billion out of 2015, with send out income remaining at US$99 billion and household income at US$48 billion, developing by more than 13%.Indias present Prime Minister Narendra Modi has begun a venture called �DIGITAL INDIA i.e., Computerized India to help secure IT a position both inside and outside of India. The IT sector has served as a fertile ground for the growth of a new entrepreneurial class with innovative corporate practices and has been instrumental in reversing the brain drain, raising Indias brand equity and attracting foreign direct investment (FDI) leading to other associated benefits. The Size of this sector has increased at a tremendous rate of 35% per year during the last 10 years. This Paper examines the India�s growth in IT industry and also studied the impact of IT on the Indian Economy.
Sinoindianeconomicrelationscompetitionandpartnership1 1224309877426672-9OSMANIA UNIVERSITY
China and India have experienced rapid economic growth in recent decades but have taken different paths. China has grown faster through higher investment rates, exports, and infrastructure spending while India's growth has been more equitable but slower. Both countries face issues of sustainability, inequality, and need to address agriculture and employment. While China has stronger manufacturing and infrastructure and India has advantages in services, both see opportunities in trading with each other and facing competition. Overall the countries share similarities in their large populations and economies but have taken different political and economic approaches.
Foreign Direct Investment in Retail: Myths and RealitiesAnurag Anand
This document summarizes a research paper on foreign direct investment (FDI) in India's retail sector. It discusses myths and realities of allowing FDI in multi-brand retail. The paper reviews literature on the relationship between FDI and economic growth. It aims to examine the impacts of FDI in retail on farmers and rural development. The methodology uses secondary data sources. Key findings are that FDI in retail could benefit farmers through higher prices and rural infrastructure development. It may also create jobs and opportunities for small businesses. However, some small retailers could be negatively impacted.
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International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
An analytical study of fdi in india (2000 2015)Abhishek vyas
Foreign Direct investment plays a very important role
in the development of the nation. Sometimes domestically
available capital is inadequate for the purpose of overall
development of the country. Foreign capital is seen as a way of
filling in gaps between domestic savings and investment. India
can attract much larger foreign investments than it has done in
the past. The present study has focused on the trends of FDI
Flow in India during 2000-01 to 2014-15 (up to June, 2015).
The study also highlights country wise approvals of FDI
inflows to India and the FDI inflows in different sector for the
period April 2000 to June 2015. The study based on Secondary
data which have been collected through reports of the Ministry of
Commerce and Industry, Department of Industrial Promotion and
Policy, Government of India,
This document discusses foreign direct investment (FDI) in India, particularly in the retail sector. It provides an overview of the history of FDI policy in India and reviews economic literature on the impacts of FDI. While FDI can potentially bring benefits like capital, technology, and efficiency, studies have found mixed results on its actual impacts. Some studies have found FDI has negatively impacted growth in developing countries by crowding out local firms or draining capital through profit repatriation. Overall, the literature suggests FDI's effects depend on factors like the sector and whether a country achieves a minimum threshold of human capital. Studies on India have also found limited positive impacts of FDI on growth, exports, and productivity
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The document discusses trends in foreign direct investment (FDI) in India. It analyzes literature on the economic impacts of FDI and summarizes India's policies toward FDI over time. Key points include:
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2) India initially had restrictive FDI policies but began liberalizing in the 1990s, allowing greater foreign equity ownership and automatic approvals in many sectors.
3) Actual FDI inflows to India have increased steadily since 1991 reforms, though growth has been slower than some other countries. In recent years India has gained a
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India has seen significant economic growth since gaining independence in 1947, transforming from a primarily agricultural economy to one with heavy industry, transportation, and telecommunications. However, India still faces issues with infrastructure, as nearly 25% of Indians lack access to electricity and road connectivity in rural areas remains limited. The government has implemented various five-year plans to boost economic development and infrastructure spending. While trade deficits have fluctuated, India has maintained strong economic ties with partners like the US, UK, and Germany through imports and exports.
Foreign Direct Investment (Influx) from different nations and its impact on E...IJSRP Journal
In these research paper researchers examines emerging economic as well as implications on overall economic development and growth of Indian economic globalization. The paper focuses on the main motives of the Influx Foreign Direct Investment (IFDI) by the MNEs and its economic implications on the Indian economy. The originality of the study lies in its analysis of the overall investment pattern of MNEs companies and the nature of their global operations in a view to invest in India. Furthermore researchers explore the contribution of Service Sector that is one of highly demanded sectors towards economic development and growth of India through FDI in the current economic scenario in India.
The International Journal of Emerging Markets indicates that emerging markets such as Brazil, Russia, India, China and South Africa account for 20% of the world’s GDP and two-thirds of world’s population. With the IT market improving, technological advancement resulted. This has led to India having a vast pool of resources that are highly skilled.
This document provides an introduction and background to a dissertation analyzing India's Vision 2020 plan set forth by the country's Planning Commission. The dissertation will examine India's current economic status and growth engines to determine if achieving the goals of Vision 2020 by the target year of 2020 is realistic. Key points discussed include:
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- The Vision 2020 plan's identification of education, technology, communication, and market opening as important growth engines.
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http://www.oifc.in/oppinindia.asp India's economy is on the fulcrum of an ever increasing growth curve. With positive indicators such as a stable 8-9 per cent annual growth, rising foreign exchange reserves of close to US$ 180 billion, a booming capital market with the popular "Sensex" index topping the majestic 14,000 mark, the Government estimated FDI flow of US$ 12 billion in this fiscal and a more than 35 per cent surge in exports, it is easy to understand why India is a leading destination for foreign investment.
The October edition of the Newsletter outlines the Indian priorities and the road ahead for the G20; provides brief information on the happenings at the World Bank, Asian Development Bank (ADB), International Finance Corporation (IFC), World Trade Organization (WTO), International Trade Centre (ITC) and highlights the key remarks made by the Minister of State for External Affairs at the 8th IBSA Trilateral Ministerial Commission Meeting.
1) Global value chains have become dominant in world trade, with the production of goods fragmented across countries based on available skills and costs.
2) While firms drive participation in global value chains, government policies play a role in creating an enabling environment for firms.
3) India's integration in global value chains peaked in 2008 but has declined since, however increased participation could significantly boost India's GDP and exports. Deeper involvement in manufacturing value chains may help India become a $5 trillion economy by 2024.
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Bangalore-based CSR consulting startup leverages technology to resolve pain points in the CSR life cycle through a collaborative digital platform. The platform enables corporate CSR players to discover, fulfill, and engage with NGOs for effective strategy formulation and efficient implementation. The platform acts as an end-to-end, cloud-based digital marketplace. The startup offers CSR consulting, NGO evaluation, proposal preparation, project monitoring, impact assessment, statutory compliance training, and addresses challenges of time-consuming NGO selection, inability to track project performance, and working with multiple NGOs simultaneously.
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This document summarizes the key challenges facing higher education in India, with a focus on management education. It discusses how the goals of higher education need to balance factors like preparing students for the job market while also developing critical thinking. It outlines issues like low enrollment rates, lack of access for disadvantaged groups, outdated regulations, shortage of quality faculty, and underfunding. Private institutions have grown but need better regulation. Overall, expansion of the system is needed while ensuring quality and inclusion to meet India's growing needs and achieve sustainable development.
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1. EXCEL International Journal of Multidisciplinary Management Studies
Vol.2 Issue 4, April 2012, ISSN 2249 8834
Online available at http://zenithresearch.org.in/
ROLE OF ENTREPRENEURSHIP IN NATIONAL ECONOMIC GROWTH
A COMPARATIVE ANALYSIS OF INDIA & CHINA
PROF. AMIT GUPTA*
*Doctoral Student,
National School of Leadership,
Pune, India.
ABSTRACT
Both India and China have made rapid strides in economic development in terms of GDP and per
capita income ever since their respective liberalization era in 1978 (China) and 1991 (India), this
impressive growth in manufacturing (China) and services (India) is inextricably linked to the
level and type of entrepreneurial activity as seen from the reports of GEM (Global
Entrepreneurship monitor). Countries with similar per capita GDP tend to exhibit similar levels
of entrepreneurial activity, while significant differences exist across countries with different per
capita GDP levels.
While political systems and history of independence and social revolutions have left an
everlasting mark on development of entrepreneurship in both India and China, the ability of
institutions in the political, financial, educational and social framework to learn and unlearn from
the lessons of free market developed economies is of great significance in the constantly
changing business landscape fuelled by global imbalances, trade liberalization, financial markets
integration and of course the information explosion unleashed by the internet and wireless
connectivity.
It is significant that China has evolved from the clutches of centralized government economy to
relative market economy culminating in their joining the WTO in 2001. India with its pluralistic
democracy has always had a history of entrepreneurship limited to certain communities like the
Marwaris and Parsis who more recently have been upstaged post 1991 liberalization by
entrepreneurs of all hues who have capitalized on the opportunities thrown open by
globalization, like the first generation Bhartis, Ambanis, Ranbaxy, not to forget more modern
professional entrepreneurs like N.R.Narayana Murthy, Azeem Premji et al who have taken
advantage of the knowledge economy and labour arbitrage opportunities thrown up by www.zenithresearch.org.in
demographic discrepancies and made India a force to reckon with in the software services
outsourcing space. The issue now is can they really scale it up and move up the value chain by
breaking the nexus between revenue/profitability growth and manpower growth to address
challenges of talent shortage and employability of significantly large numbers in relatively short
span of time.
______________________________________________________________________________
86
2. EXCEL International Journal of Multidisciplinary Management Studies
Vol.2 Issue 4, April 2012, ISSN 2249 8834
Online available at http://zenithresearch.org.in/
INTRODUCITON
OBJECTIVES OF THE STUDY
1. This study primarily tries to analyze the basic contribution of entrepreneurship to national
economic growth and development, with particular reference to the two emerging powers India
and China who have followed somewhat different paths towards similar objectives of reconciling
growth with sustainability and equity.
2. Other issues examined are the impact of cultural and demographic factors on the
entrepreneurial spirit and the business/government policies and intellectual environment
facilitating or creating barriers to unleashing the full potential of private individuals and
institutions in both countries.
METHODOLOGY OF THE STUDY
This research has been based entirely on secondary data sources, which were subject related. The
sources used were books, journals, newspapers, reports and websites.
LIMITATIONS OF THE STUDY
Like any other research paper, time was a constraint. More literature review could have been
done with a broader time span. Also more recent data, in certain areas would have helped to
analyze better.
SCOPE FOR FURTHER RESEARCH
Entrepreneurship and its effect on growth as well as the environment, socio-cultural factors and
the effects on social entrepreneurship can be studied in detail across a diverse country like India
as also the various provinces of China.
Further research is also possible in finding the changes in levels of entrepreneurial activity which
can impact the per capita GDP. Another off-shoot would be researching on the time lag for
improving the entrepreneurial activity and whether this has any impact/correlation to increasing
per capita GDP.
INDIA & CHINA COMPARED www.zenithresearch.org.in
It is a matter of continuous debate that China has basically grown based on accumulation of
resources whereas India has shown significantly better returns on capital and efficiency in
managing its resources. While this may be true, what is of significance is that post independence
of India (1947) and China (1949), both started as economically backward, centrally planned
agrarian economy and then went on to open up significantly in 1978 ( China) and 1991 ( India).
Both had issues of corruption and bureaucratic red tapism which continue to hamper general
business and trade. While China has basically been FDI led with little local entrepreneurial
activity (at least till 2001-02), the Chinese save and invest more in their economy (almost twice
that of India). The share of gross domestic investment in GDP is 41 % in China compared to
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22.8% in India. The Chinese are more open to international trade and export share of GDP is
twice that of India. (See Table 1 for details).
TABLE 1: SHARE OF GDI IN GDP
China 1982 1992 2001 2002
GDP (US$ billions) 221.5 454.6 1,167.1 1,232.7
Gross domestic investment/GDP (%) 33.2 36.2 38.5 41.0
Exports of goods & services/GDP (%) 8.9 19.5 25.5 29.5
Gross domestic savings/GDP (%) 34.8 37.7 40.9 44.0
India
GDP (US$ billions) 194.8 244.2 478.5 510.2
Gross domestic investment/GDP (%) 21.7 23.8 22.3 22.8
Exports of goods & services/GDP (%) 6.1 9.0 13.5 15.2
Gross domestic savings/GDP (%) 18.3 21.8 23.5 24.2
Source : Paper titled ―China’s Political economy‖, Lynette Ong, Australian national University
A more compelling reason to account for India's slower growth is the flows of foreign direct
investment (FDI). As shown in the diagram below, the amount of FDI into India is only a small
fraction of that into China. Of course, any statistics, especially those reported by communist
cadres who are rewarded for economic performance of their localities, should be taken with a
grain of salt. As frequently pointed out, China's FDI figures are likely to be exaggerated by
"round-tripping" - domestic capital disguised as foreign investment (passed through Hong Kong) www.zenithresearch.org.in
to qualify for special investment incentives reserved for foreigners. India's FDI figures, however,
may be understated because they exclude foreigners' reinvested profits, the proceeds of foreign
stock market listings, intra-company loans, and so forth. This may not be a simple issue of
whether India is able to attract foreign investment but more connected with Government policy
in a multi party democracy with its pressures of push and pull from different constituencies as we
have seen in the recent SEZ development, a policy which has been so successfully implemented
by China quite some time back on a far larger scale and size to become ― factories to the world‖.
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Source : Paper titled ―China’s Political economy‖, Lynette Ong, Australian national University
India’s growth has been far more organic and home grown ( hence sustainable?) than the FDI led
Chinese growth story ( substitute for domestic entrepreneurship), further backed by the width,
depth and increasing sophistication of India’s financial markets, functioning judiciary ( never
mind the pile up of cases!), protection of property, intellectual property rights, English led
education system, institutions of excellence like IIT’s, IIM’s, IISc,etc who given the right
support and ecosystem can churn out the best of talent as can be seen from the history of Silicon
Valley where Indians are a mainstay in technology led innovations and contributed a great deal
to India software revolution.
Last but not the least, the attitude towards failure has changed significantly across the globe,
more so in closed societies like India and China where the ―fear of failure‖ and lowering of
social status was a major hindrance and barrier to entrepreneurship. Stories abound about fathers
not giving the hand of their daughters to prospective grooms who are businessmen and hence not
very reliable or socially mobile. Much of this has changed in the last decade or so, primarily on www.zenithresearch.org.in
account of more global exposure and integration, and more importantly due to
institutionalization of the entrepreneurial process in form of venture capitalists, angel investors,
business incubators to make the survival process more sustainable and add credibility to the
wealth and job creation activity in developing countries, to pull them out of the poverty trap and
march towards a economic powerhouse status as predicted by Goldman Sachs BRIC report.
The picture would be incomplete without touching the latest developments in social
entrepreneurship, made popular by the progenitor of microfinance, Mr Mohammed Yunus of
Grameen Bank, Bangladesh starting from the first few dollars given to Sufia Begum in 1974.
The debatable issue is of course whether this is leading to creation of productive enterprises or
only distribution of largesse on behalf of the super rich of the globe.
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WHAT IS ENTREPRENEURSHIP?
Entrepreneurship is the practice of starting new organization, particularly new businesses
generally in response to identified opportunities. Entrepreneurship is often a difficult
undertaking, as a majority of new businesses fail. Entrepreneurial activities are substantially
different depending on the type of organization that is being started. Entrepreneurship ranges in
scale from solo projects (even involving the entrepreneur only part-time) to major undertakings
creating many job opportunities. Many "high-profile"entrepreneurial ventures seek venture
capital or angel funding in order to raise capital to build the business. Many kinds of
organizations now exist to support would-be entrepreneurs, including specialized government
agencies, business incubators, science parks, and some NGOs.
LITERATURE SURVEY
David McClelland (1961) described the entrepreneur as primarily motivated by an overwhelming
need for achievement and strong urge to build.
Collins and Moore (1970) studied 150 entrepreneurs and concluded that they are tough,
pragmatic people driven by needs of independence and achievement. they seldom are willing to
submit to authority.
Bird (1992) sees entrepreneurs as mercurial, that is, prone to insights, brainstorms, deceptions,
ingeniousness and resourcefulness. they are cunning, opportunistic, creative, and unsentimental.
Busenitz and Barney (1997) claim entrepreneurs are prone to overconfidence and over
generalisations.
Cole (1959) found there are four types of entrepreneur: the innovator, the calculating inventor,
the over-optimistic promoter, and the organisation builder. These types are not related to the
personality but to the type of opportunity the entrepreneur faces.
Burton W. Folsom distinguishes between what he calls a political entrepreneur and a market
entrepreneur. The political entrepreneur uses political influences to gain income through
subsidies, protectionism, government-granted monopoly, government contracts, or other such
favorable arrangements with government(s) (crony capitalism and corporate welfare). The
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market entrepreneur operates without special favors from government.
CHARACTERISTICS OF ENTREPRENEURSHIP
The entrepreneur has an enthusiastic vision, the driving force of an enterprise.
The entrepreneur's vision is usually supported by an interlocked collection of specific
ideas not available to the marketplace.
The overall blueprint to realize the vision is clear; however details may be incomplete,
flexible, and evolving.
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The entrepreneur promotes the vision with enthusiastic passion.
With persistence and determination, the entrepreneur develops strategies to change the
vision into reality.
The entrepreneur takes the initial responsibility to cause a vision to become a success.
Entrepreneurs take prudent risks. They assess costs, market/customer needs and persuade
others to join and help.
An entrepreneur is usually a positive thinker and a decision maker.
Types of entrepreneurship:
Basically two types of entrepreneurship are defined as follows:
A. OPPORTUNITY ENTREPRENEURSHIP: Those motivated by identified business
opportunities in an evolving economic landscape and exploit the perceived opportunity.
B. NECESSITY ENTREPRENEURSHIP: They are pushed into this because all other
options of work are absent or unsatisfactory. Table 2 (Refer to Annexure) from GEM
2006 report show global trends which are quite self explanatory.
MORE LITERATURE REVIEW
A World Bank report on ―Doing Business‖ (2005-06) states that:
Entrepreneurs in South Asia face large regulatory obstacles to doing business.
A standard company in India pays 81% of commercial profits in taxes
In India only 8 million workers have formal jobs in the private sector in a country of over
1 billion people and a workforce of 458 million.
In another study of World Bank on ―Entrepreneurship‖, Klapper (2006) two indicators have been
analyzed. One is Business density which is defined as the number of registered firms as a % of www.zenithresearch.org.in
the active population within the age group of 15-64 years. Another is the Entry rate which has
been defined as the number of new firms registered in a particular year as a percentage of the
total registered firms.
The entry rate can be considered as one of the key indicators of entrepreneurship. In the survey
conducted during the period 1990-2003 across 95 countries across the globe, entry rate was
found to be less than 5% in India as compared to 20% in Germany, New Zealand and U.K.
However, the average entry rate is 7-8% across developing countries.
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Business density was found to vary across country income groups and range from less than 1%
in low-income countries to 10% in high income countries.
Barriers to starting a business are negatively correlated with business density and entry rate. The
lesser the procedures required to start a business, greater the number of registered firms and
higher the entry rate. (Refer to Table 16 of Annexure for further details)
There is also a relationship with total firm registrations being higher in countries with a small
informal sector.
In connection to the last finding we have concluded that SMEs are being increasingly recognized
as an essential driving force for economic growth in developing countries. These SMEs are
flexible to respond quickly to market changes and opportunities to develop specialized product
niches and absorb rapid technological innovations provided they get the right guidance, training,
are made aware with right policy environment and greater access to financial services. So SMEs
in turn can create substantial capital and jobs at a local level thereby raining the local standards
of living.
Women have been playing an increasing role in this sector especially in developing countries.
One of the reasons being the socio-cultural environment as in India, where women (especially in
the rural areas) tend to take charge of the income-generation modes and turn out to be better
planners and decision makers than the men folk. In India, we should not forget to mention
Dhirubhai Ambani filling tanks at a petrol station in Aden, going from loan officer to loan
officer, himself carrying bolts of textile, for loans of a few lakhs, eventually constructs a giant,
the Reliance we see today. Mammen Mappillai who, together with his wife, begins by selling
balloons, and then creates MRF. Seven housewives begin Lijjat Papad with 80 borrowed Rupees
— today 40,000 women out of their homes have taken its turnover to Rs 300 crores. The
dabbawallahs of Mumbai reach two lakh tiffin carriers from homes to offices and back using just
public transport and pavements; the convenience that the roadside thelawallah brings to the
customer — they are also entrepreneurs all the way. After all, they have become case studies in
foreign B-schools.
China has been successful in lifting millions of people out of poverty in less than 3 decades as a
result of governmental reforms and private sector development. DFID (U.K.) has been working
in China since 1999 for reducing poverty. One of its projects ―Start & Improve your business‖
project started in 2004 aimed at providing entrepreneurial training to the Chinese. The ―Private www.zenithresearch.org.in
Enterprise Partnership for China‖ project was launched in 2001. This aimed at reducing the
problems faced by SMEs like limited access to financial services, underdeveloped policies, lack
of knowledge and risk management techniques. The ―SME Support System‖ project started in
2005 is promoting private sector development through China’s law on promoting SME and
closing the gaps in this policy. This is an institutionalized form of the TVE (Town & Village
Enterprises) revolution that contributed to the growth of China in 1980s and 1990s that have
outrun both state-owned and foreign invested companies.
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Source: Unleashing Entrepreneurship: Making Business work for the Poor
http://www.undp.org.mk www.zenithresearch.org.in
OVERVIEW AND IMPACT OF ENTREPRENEURIAL ACTIVITIES ON NATIONAL
ECONOMIC GROWTH
A study of the conceptual model as developed by Global Entrepreneurship Monitor clearly
brings into focus the systematic relationship between per capita GDP levels, entrepreneurial
activity levels ( TEA-Total entrepreneurial activity) by various kinds of businesses like early
stage entrepreneurs and established business owners as also differences and similarities between
high income and middle income countries along with framework conditions necessary to
facilitate and support entrepreneurship among various kinds of enterprises as shown below.
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GEM CONCEPTUAL MODEL
Entrepreneurial Level of National
framework entrepreneurial economic
conditions in activity in the growth of
the country country the country
A detailed framework of the Total Process (Table 3), elaboration of General National Framework
conditions (Table 4) and elaboration of Entrepreneurial framework conditions (Table 5) may be
referred to from the Annexure.
Comparing the two economic powers India and China based on the above general framework
conditions, the competitiveness of China lies in greater openness to external trade and excellent
infrastructure. The stranglehold of the centralized command in form of Communist party is of
course a double edged sword resulting in short term implementation with single minded
determination, possibly a the cost of long term strategies which is a subject of much larger
debate.
The Indian economy scores on the depth, sophistication, liquidity of financial institutions, higher
levels of technology/ R&D absorption especially in IT, software services, pharmaceuticals and
biotechnology led by excellent higher educational institutions like IIT’s / IISc, etc, global
management skills and a good regulatory and legal system with fair rule of law (by and large at
least compared to China) especially on the fronts of intellectual property and property rights.
Physical infrastructure is a sore point with all kinds of entrepreneurs and so is the levels of
reliability with social infrastructure and utilities like power, water which lead to excessive usage
of capital for similar scale of operations compared to western counterparts thus eroding
competitiveness on global stage. However this showing dramatic improvements in most urban
areas and needs to be in sync with economic growth rates projected over the 11 th five year plan
and beyond.
Compared to developed western world of course, both the Asian giants have a long way to go www.zenithresearch.org.in
with respect to labour policies flexibility, growth of financial institutions so as to allocate capital
more efficiently ( instead of distorted subsidies and vested interests), foreign exchange controls
and convertibility regime, marketing and accounting services of global quality, consumer
sophistication, widespread communication facilities and overall institutionalization of all
facilitating government support factors besides breaking down the corruption and bureaucratic
bottlenecks existing across the spectrum of formal and informal institutions.
One other aspect of the analysis of economic sectoral activities clearly shows the following
trends:
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In both ―early stage‖ and ―established business ownership‖ the ―business services‖ sector
is predominant in high income countries.
The middle income countries lead in ―consumer oriented‖ industries in both types of
entrepreneurial activity, mainly due to demographic reasons and growing market
opportunities based on rising disposal incomes and low base of consumption in value
added products and services.
As far as ―transformation‖ (construction/manufacturing/transportation/distribution) and
―extractive‖ (extraction of products from natural environment) sectors are concerned both
groups of countries are somewhat similar in trends.
(Please refer to Table 6 of Annexure)
CULTURAL/ DEMOGRAPHIC FACTORS IMPACTING ENTREPRENEURIAL
ACTIVITIES
The entrepreneurial demographics of age, gender, work status, education, income and
perceptions are all significant socio-economic factors in a person’s decision to start a business.
Both India and China have been subjected to social behaviour systems that condemn profit
seeking and advocates group orientation, conformity and respect for authority.
However the East Asian economic miracles driven largely by diasporas of overseas Chinese
entrepreneurs focused on values of persistence, diligence, thrift and family as strong supporting
factors for entrepreneurial development.
Some important entrepreneurial values like creativity, innovation and flexibility were lacking in
Chinese value systems and thus cultural barriers to entrepreneurship. There has been a
historically low social status of entrepreneurs in China, influenced also by political ideology and
degree of openness to foreign values. This value system incidentally is very similar to Indian
value systems and leads to the most important characteristic barrier which is the ―fear of failure”
and not being resilient enough to take on challenges and changing with the dynamic business
environment.
In China, quitting one’s job at an SOE means sacrificing not only a stable income, but also www.zenithresearch.org.in
significant fringe benefits such as housing and hence one needs to be more risk-loving than
counterparts elsewhere to overcome environmental barriers. Situation is very similar in India
with respect to the public sector vis-à-vis private sector which has of late broken down to a large
extent due to MNC influence and less stranglehold of political ideology as compared to Chinese
regulated economy and also due to other business environment factors that we will discuss in the
next section.
Some unique characteristics to entrepreneurs in China are political nimbleness and interpersonal
harmony. Historically, China has been unpredictable. For example, Deng opened the doors to
economic freedom, but also ruthlessness cracked down on demonstrators in Tiananmen Square.
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Liquidity is a valued intangible asset of Chinese entrepreneurs and back-up plans, dual
citizenship, low capital-requirement start ups allow for desired liquidity for overseas Chinese
entrepreneurs in countries like Indonesia, Malaysia and Singapore.
Hard work and liquidity are factors Chinese entrepreneurs use to hedge for unpredictable
environment. Additionally, interpersonal harmony and guanxi are important factors for reducing
risk. Roughly translated ― guanxi‖ means connections and affiliations and implicit in this is
corruption, bribery and ― under the table‖ activities for licenses and Government approvals, very
similar to the license-permit Raj prevailing in India till a few years back and to some extent even
today in regulated sectors.
The management structure of entrepreneurships in India and China were largely family
controlled till the knowledge economy dawned and professionalized the environment with free
access to capital based on merit and innovation.
With accelerating reform and increased exposure to the West, values in these countries are also
changing. Perceptions of entrepreneurs are improving, and people are rushing to ―xiahai‖ (This
phrase literally means go into the sea. Figuratively it means get rich by working in the private or
foreign sectors).
ATTITUDES TOWARD FAILURE/SUCCESS
As everyone knows, many individuals in China have been successful in developing businesses
because the government cannot offer enough job opportunities. Their primary goal is to earn
money and sustain their basic living conditions. But from the middle of the 1990s, with the rising
standard of living, increasing numbers of people set up new ventures not only to sustain their
lives or to make more money but also for self-development. According to a survey of 201 private
entrepreneurs in Hunan province, conducted by the Hunan Association of Business and
Commerce and the Department of Hunan Unification, 41.79 percent of entrepreneurs there set up
an enterprise to improve their living conditions, 16.91 percent to sustain their basic living
standards, 18.41 percent to realize their self-value, 15.9 percent to contribute to society, 4.48
percent to apply their specialties and 2.49 percent for other purposes. With more people engaged
in business for purposes besides earning money, the criteria for judging whether an entrepreneur
is successful or not depends not only on the money he/she has made, although money is the most
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important item. Employees hired by private enterprises are seeking not only a higher income but
also to realize their self-value and have a free and fair working atmosphere, which is more
common in high-tech private firms. But private enterprises cannot offer the same social security
benefits as state-owned enterprises, including medical care, retirement pensions and even
unemployment benefits (for the government denied the phenomenon of unemployment for a long
time). Employees in private enterprises have higher mobility and a greater awareness of risk than
employees in the state-owned units (including in the collective-owned units). Layoffs,
resignations and a different kind of relationship between employers and employees are widely
accepted. If dismissed, the employee is able to accept this result quietly and willing to try and
find other opportunities by him/herself. On the other hand, the entrepreneur also realizes that his
firm, if poorly managed or if the product is rejected by the marketplace will become bankrupt,
and he is also able to accept the fact and to try to find another new way to salvage his business.
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Regarding the attitudes of the people toward entrepreneurial failure, Chinese believe that it is
natural and unavoidable since there are a great many storms in the ―market ocean‖ and it is
impossible to avoid drinking ocean water occasionally. So even when someone is a failure in the
market ocean, while he/she does ―go up the seaboard,‖ people look up to him/her, like to talk
with him/her and hope that he/she will be able to re-launch the enterprise in the near future.
Similar attitudinal shifts have taken place in India since the mid nineties with more educated
professionals willing to take calculated risks and backed by better access to capital from venture
capitalists and private equity , besides improved institutional support from Government and
others like Wadhwani Foundation’s NEN ( National Entrepreneurship Network), NSRCEL (
N.S.Raghavan Centre for Entrepreneurial learning), Entrepreneurship centres at IIT’s/IISc/IIM’s
and various other Government schemes mainly targeting small and micro enterprises to boost
employment and take the load off public and Government sectors who have an increasingly
lesser role to play in a market economy, other than improving the ecosystem and facilitating
entrepreneurship.
The proliferation of domestic and foreign media and returning of non resident Indians from
Silicon Valley to establish their own ventures as well as fund start ups have highlighted
entrepreneurship and given a much needed respectability which hitherto was not there among
middle class educated India, since profit seeking was considered to be anathema and only meant
for the uneducated or political class with no other options. Thus there has been a gradual shift
from necessity entrepreneurship to opportunity entrepreneurship and far less fear of failure since
de-risking is a strategic imperative which is taken care of by more educated and aware
entrepreneurial classes.
Adequacy of social and cultural norms for entrepreneurship in India is below the global average
as an integrated measure of various parameters. (Refer to Table 7 of Annexure)
BUSINESS ENVIRONMENT FOR ENTREPRENEURIAL ACTIVITIES
CHINA
After the Cultural Revolution, with China’s economy in ruins and facing a crisis of legitimacy,
Deng launched the ―Four Modernizations‖ reform in 1978 to stimulate economic growth. The
first step was de-collectivisation of agriculture creating the ―township and village enterprises‖
(TVEs). By 1990 TVEs accounted for 20% of China’s gross output. These enterprises were not www.zenithresearch.org.in
state owned unlike SOE but collectively owned under local governments. Managers of TVEs
demonstrated many entrepreneurial characteristics, choosing the product line, funding, labour,
raw materials and distribution channels and reacted to prices and costs in pursuit of profits. Thus
TVEs can be seen as the beginnings of modern Chinese entrepreneurship.
By late 1980’s there was a change of policy and surge towards the private sector. The central
government’s recognition of waste and inefficiency generated by SOEs motivated individuals to
move into entrepreneurship and SOEs have been forcefully shrunk in late 90’s. The state run
sector was contracting at least 3 million workers a year while fifty million join the work force
per year. SOEs are also encouraging employees to pursue advanced degrees. While this is
socially uplifting, a problem exists with employing these students after they graduate, hence it
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was obvious that the Chinese system of ― iron rice bowl‖ ( lifetime employment with housing
etc) was no longer a reliable method of survival and growth.
Private entrepreneurship started with very small scale activities in retail and services, businesses
known as getihu, referred to as self-employed with low social status that were excluded from the
state system.
The next wave was from the MNC/FDI dominated growth drivers and the foreign educated
Chinese returning to China, especially in Internet sector, backed by venture capitalists from
USA.
All these entrepreneurial activities are subject to unpublished regulations ( neibu) and the
caprices of courts who often have retired military persons as judges. Access to resources like
funding, labour, technology has to be overcome since bank loans remain rare. Though venture
capital is in early growth phase, entrepreneurs in China are not accustomed to idea of writing
business plans and approaching VC’s, especially since it might mean giving up equity control.
INDIA
The ecosystem in India has undergone a radical change since the days of Nehruvian socialism
and theory of public sector occupying ―commanding heights of the economy‖. Much water has
flowed since the 1991 liberalization on issues of privatization, foreign investments both in terms
of equity and portfolio investments and venture capital seeking good business plans to fund after
their successes in Europe, USA and Israel and partly in China. Of course this has been limited to
sectors like clean technologies and communication start ups in Web 2.0 space, as is the trend
globally. VC’s seem to be more concerned with the health of the planet and how better to
communicate for business and personal reasons, nanotechnology and medical devices as the next
frontier for returns on investment.
However some of the basic factors of financial support to new firms (state funding), government
programs and policies, education systems and infrastructure, R&D/technology transfer, taxation
and accounting/professional services have played a stellar role in facilitating and encouraging
entrepreneurship at all levels of society across regional disparities and without discrimination on
grounds of gender, caste, sex, etc. Refer to Table 8, 9,10,11,12,13,14,15, & 16 of Annexure
which give a good indication of the status of these parameters with respect to global averages
and show the way forward. www.zenithresearch.org.in
RESEARCH FINDINGS & CONCLUSIONS
While the study has limitations in terms of more concrete quantitative and qualitative data
regarding the Chinese entrepreneurial dynamics and more recent advances taking place in the
Indian economy could be incorporated in a more exhaustive paper, what is clearly evident is
summarized below:
a. Both the economies are growing at an increasing speed with an immense contribution
from the entrepreneurial class who are being supported and facilitated with dynamic
improvements taking place in the ecosystem for entrepreneurial activity.
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b. There is a conclusive and systematic relationship between per capita GDP and
entrepreneurial activity as measured by TEA (total entrepreneurial activity) as per Global
Entrepreneurship Monitor reports which compare the differences in entrepreneurial
activity between different sets of countries and their correlation with GDP levels.
c. What needs to be further analyzed is what changes in levels of entrepreneurial activity
can impact the per capita GDP and also what would be the time lag between improving
the entrepreneurial activity and resulting increase in per capita GDP. This kind of detailed
analysis would give more accurate quantitative tools for policy makers to support and
facilitate entrepreneurship and allocate financial resources with more certainty of cause
and effect relationship.
d. Social and cultural value systems undoubtedly play a critical role in catalyzing
entrepreneurship activities and more university/ institutions of excellence should initiate
entrepreneurship cells, business incubators and entrepreneur-in-residence programs to
drive growth and employment through faster technology transfer and robust R&D
activities.
e. The Government and financial / legal systems have a major role in deepening the access
to capital, providing subsidies to emerging clean technologies which are globally
imperative to improve the health of the citizens and communication/networking across
borders and ensuring the rule of law to reconcile the twin objectives of growth with
equity along-with sustainability as the cornerstone of development in the global market
economy.
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Knowledge @ Wharton; http://www. knowledge.wharton.upenn.edu
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http://www.bhide.net/publications
http://www.martinhaemmig.com www.zenithresearch.org.in
Development of Private Entrepreneurship in China-Process, Problems and Countermeasures by
Yinqiu Liu, Senior Research Fellow and Professor of Economics at the Chinese Academy of
Social Sciences.
http://www.worldbank.org
Global Entrepreneurship Monitor Report: India Report 2001 and Global Report 2006, Babson
College US and London Business School; http://www.gemconsortium.org
The Indus Entrepreneurs ( TiE); http://www.tie.org
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Asia Society,New York; http://www.asiasociety.com
http://www.ifc.org; International Finance Corporation
VentureOne ; http://www.ventureone.com
PWC; http://www.pwcglobal.com
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TSJ Media
KPMG Reports, http://www.kpmg.com
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http://www.mckinsey.com; Mckinsey Global Institute
Nishith Desai Associates; http://www.nishithdesai.com
Mira Kamdar: Praise for Planet India: How the Fastest-Growing Democracy is
Transforming America and the World AT Kearney; http://www.atkearney.com
― Everyday Entrepreneurs‖ by Aruna Bhargava
The High Performance Entrepreneur by Subroto Bagchi ; Founder of Mindtree
Consulting,Bangalore
NSRCEL, N.S.Raghavan Centre for Entrepreneurship learning.
IIM,Bangalore;http://www.iimb.ernet.in
IIT, Delhi,Mumbai, Chennai; http://www.iitd.ac.in; http://www.iitm.ac.in
Goldman Sachs, http://www.gs.com
http://www.altassets.com
American Venture Capital Journal; http://www.americanventuremagazine.com www.zenithresearch.org.in
Ernst & Young, http://www.ey.com; 2006 VC Insights Report
Boston Consulting Group, http://www.bcg.com; 2006 Global VC Report
Planning Commission of India; http://www.planningcommissionindia.nic.in
NCAER, http://www.ncaer.com, National Centre of Applied Economic Research
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CMIE, http://www.cmie.com, Centre for Monitoring of Indian Economy
Wadhwani Foundation, NEN, http://www.nenonline.org
Harvard Business School, http://www.hbs.edu; HBS Working Knowledge
2006 Global Venture Capital Report; http://www.deloitte.com
World Economic Outlook: IMF; http://www.imf.org
Bank for International Settlements: http://www.bis.org
International Labour Organization; http://www.ilo.org
United Nations:http://www.un.org
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ANNEXURE
TABLE 2
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Source : Global Entrepreneurship Monitor Report 2006
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TABLE 3: GEM CONCEPTUAL MODEL: THE TOTAL PROCESS
Major
established
General National Firms
Framework
conditions
National
Micro, Economic
Small & Growth
Social, cultural, medium GDP
political context Firms
Jobs
Entrepreneurial Entrepreneurial
Framework Opportunities Business
conditions Churning
Entrepreneurial
capacity
Source : Global Entrepreneurship Monitor Report 2006
TABLE 4: GEM CONCEPTUAL MODEL : ELABORATION OF GENERAL
FRAMEWORK CONDITIONS
Major
General National Framework established
Conditions Firms
Openness (external Trade)
Social,
Government (extent, Role)
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cultural, National
political Financial Markets (efficiency) Economic
context Technology, R&D (level, Growth
intensity) GDP
Infrastructure (efficiency) Jobs
Management (Skills)
Labor Markets (Flexibility) Micro,
Institutions (unbiased rule of Small &
Law) medium
Firms
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Source : Global Entrepreneurship Monitor Report 2006
TABLE 5: GEM CONCEPTUAL MODEL : ELABORATION OF
ENTREPRENEURIAL FRAMEWORK CONDITIONS
Entrepreneurial
Entrepreneurial Framework Opportunities
Conditions
Financial Support
Social, National
Government Policies
cultural, Business Economic
political Government programs Growth
Education and Training Churning
context GDP
R&D transfer Jobs
Commercial Infrastructure
Internal market openness
Physical Infrastructure Entrepreneurial
Cultural, Social Norms capacity
Source : Source : Global Entrepreneurship Monitor Report 2006
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TABLE 6
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Source : Source : Global Entrepreneurship Monitor Report 2006
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Table 7: Adequacy of Social and Cultural Norms (2001)
Scale : 1- Completely false INDIA INDIA LOWEST HIGHEST AVERAGE
5 - Completely true 2000 2001 GEM 2001
Entrepreneurship is a
respected way to get rich 3.44 3.33 2.27 4.68 3.4
Japan USA
Entrepreneurship is a good
career choice for most 2.81 2.24 2.17 4.31 2.99
Finland Israel
Respect / status for successful
entrepreneurs 4.14 3.69 2.56 4.61 3.54
Australia USA
Media reports many stories of
successful entrepreneurs N.A. 3.79 2.77 4.2 3.55
Norway Israel
People think that only the
unemployed start new firms 2.92 3.24 2.58 4.44 3.45
Brazil Israel
AVERAGE 3.43 3.26 2.87 4.45 3.38
Sweden USA
Source : Global Entrepreneurship Monitor Report , India Report 2001
Table 8: Financial Support to New Firms (2001)
Scale : 1- Completely false INDIA INDIA LOWEST HIGHEST AVERAGE
5 - Completely true 2000 2001 GEM 2001
Equity funds for new/growing
firms available 1.69 3.14 2.18 4.17 3.17
Argentine USA
Debt funds for new/growing firms
available 2.03 3.54 1.82 4.19 3.05
Argentine USA
Public subsidies promote
startups 3.23 3.14 1.39 4.16 3.13
Argentina Germany
Private individuals are an
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important source of funds 3.36 3.23 1.93 4.62 3.26
Brazil USA
VCs are an important source of
funds 2.89 3.22 1.87 4.57 3.21
Italy USA
IPOs are an important source of
funds 3.38 N.A. 1.21 4.19 3.22
Argentina Germany
AVERAGE 3.19 3.18 1.99 4.3 3.08
Argentina USA
Source : Global Entrepreneurship Monitor Report , India Report 2001
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Table 9: Government Policy on New Firms (2001)
Scale : 1- Completely false INDIA INDIA LOWEST HIGHEST AVERAGE
5 - Completely true 2000 2001 GEM 2001
Government Policy favours
new firms 2.34 2.06 1.38 3.04 2.26
Argentina USA
New firms receive support from
the national government 2.78 2.58 1.26 3.78 2.93
Argentina UK
New firms receive support from
the local government 2.91 2.75 1.45 3.58 2.94
Argentina Finland
New firms get permits/licenses
in about a week 1.17 1.36 1.12 3.24 1.90
Argentina Singapore
Amount of taxes not a burden
for new/growth firm 2.55 2.47 1.35 3.70 2.36
Argentina Ireland
Government regulations are
predictable/consistent 2.66 2.56 1.24 4.11 2.59
Argentina Singapore
AVERAGE 2.40 2.30 1.30 3.45 2.50
Argentina Ireland
Source : Global Entrepreneurship Monitor Report , India Report 2001
Table 10: Government Programs for New Firms (2001)
Scale : 1- Completely false INDIA INDIA LOWEST HIGHEST AVERAGE
5 - Completely true 2000 2001 GEM 2001
Government provides one stop
service to new firm 1.80 2.20 1.21 3.42 2.33
Argentina Singapore
Science parks / incubators help
start up of firm 2.57 2.67 1.79 3.97 3.09
Argentina France
New firm programs of the
government are adequate 2.86 2.47 1.35 4.31 3.01
Argentina Germany www.zenithresearch.org.in
Government personnel are
competent/effective 2.14 2.19 1.48 3.43 2.54
Argentina Ireland
Anybody needing new firm
assistance can find it 2.03 1.83 1.33 3.53 2.40
Argentina Germany
AVERAGE 2.28 2.27 1.43 3.57 2.67
Argentina Germany
Source : Global Entrepreneurship Monitor Report , India Report 2001
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Table 11: Entreprenuerial capacity and the Education System (2001)
Scale : 1- Completely false INDIA INDIA LOWEST HIGHEST AVERAGE
5 - Completely true 2000 2001 GEM 2001
Education system encourages
self reliance 1.69 1.92 1.56 2.94 2.21
Portugal USA
Education system,/economic
market infrastructure adequate 1.58 1.72 1.47 2.59 1.99
Portugal Ireland
Education system gives attention
to entrepreneurship 1.36 1.64 1.28 2.32 1.76
Portugal Ireland
College/university
entrepreneurship course are
adequate 2.22 2.06 1.64 3.24 2.52
Portugal Singapore
Business/management
education is world-class 3.44 3.33 2.03 3.97 2.98
Japan Spain
AVERAGE 2.06 2.13 1.65 2.84 2.29
Portugal Singapore
Source : Global Entrepreneurship Monitor Report , India Report 2001
Table 12: Research & Development Transfer (2001)
Scale : 1- Completely false INDIA INDIA LOWEST HIGHEST AVERAGE
5 - Completely true 2000 2001 GEM 2001
Technology transfer between
universities and firms is
effective 2.14 2.00 1.73 3.24 2.43
Italy USA
New firms have good access
to R&D 2.03 2.24 1.67 3.00 2.20
S. Africa Belgium
New firms cannot afford new
technologies 4.06 2.31 1.72 3.18 2.33
Mexico Belgium www.zenithresearch.org.in
Adequate government
subsidies for new firm R&D 2.58 2.33 1.44 3.28 2.50
Argentina France
World class R&D technology
available in at least one sector 2.78 3.11 1.73 4.16 3.15
Argentina France
AVERAGE 2.72 2.40 1.87 3.26 2.52
Argentina Belgium
Source : Global Entrepreneurship Monitor Report , India Report 2001
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Table 13: Commercial, Legal & professional Infrastructure (2001)
Scale : 1- Completely false INDIA INDIA LOWEST HIGHEST AVERAGE
5 - Completely true 2000 2001 GEM 2001
Adequacy of suppliers / sub
contractors for new firms 3.80 3.14 2.08 4.42 3.38
Japan USA
Suppliers / sub contractors
cost is affordable by new firms 2.11 2.97 3.51 2.88 2.84
Japan Spain
Easy for new firms to get
quality suppliers/sub
contractors 1.80 3.03 1.84 3.77 3.01
Japan Belgium
New firms get good
legal/accountancy services 3.36 2.64 2.22 3.36 2.59
Japan USA
New firms get good banking
service 3.03 3.65 1.43 4.11 3.19
Japan USA
AVERAGE 3.26 3.27 1.94 3.91 3.16
Japan USA
Source : Global Entrepreneurship Monitor Report , India Report 2001
Table 14: Market Openness and Ease of entry(2001)
Scale : 1- Completely false INDIA INDIA LOWEST HIGHEST AVERAGE
5 - Completely true 2000 2001 GEM 2001
Dynamism of consumer market 2.80 3.46 2.02 4.11 2.88
Norway S. Korea
Dynamism of business market 2.52 2.97 2.21 3.71 2.84
Norway S. Korea
Barriers to market entry are too
high 3.20 2.68 2.13 3.64 2.78
S. Africa USA
New firms can afford to enter
new markets 1.69 2.64 2.10 3.36 2.59
S. Africa USA www.zenithresearch.org.in
Established firms don’t block
market entry 1.49 2.62 1.97 3.80 2.77
Japan Italy
Anti-trust regulation is well
enforced 1.49 1.97 1.67 3.58 2.82
New
Argentina Zealand
AVERAGE 3.14 2.72 2.38 3.33 2.78
S. Africa USA
Source : Global Entrepreneurship Monitor Report , India Report 2001
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Table 15 : Adequacy of Physical Infrastructure (2001)
Scale : 1- Completely false INDIA INDIA LOWEST HIGHEST AVERAGE
5 - Completely true 2000 2001 GEM 2001
Physical Infrastructure good for
new/growing firms 2.28 2.20 2.20 4.58 3.35
India Singapore
Cheap communication access
for new/growing firms 3.31 3.49 2.67 4.47 3.62
Hungary Germany
New/growing firms get
communication access in
about a week 2.25 2.74 2.00 4.50 3.55
Spain Singapore
New/growing firms can afford
the utility costs 3.31 2.64 2.22 2.69 2.59
Japan Singapore
New/growing firms get utility
access in about a month 2.51 2.64 2.64 4.63 3.75
India Singapore
AVERAGE 2.73 2.90 2.90 4.46 3.66
India Singapore
Source : Global Entrepreneurship Monitor Report , India Report 2001
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Table 16 : Ease of starting business
Economy CHINA INDIA
Year 2003 2004 2005 2006 2003 2004 2005 2006
.. .. 108 93 .. .. 138 134
Ease of Doing Business Rank
Starting a Business
Rank .. .. 141 128 .. .. 102 88
13 13 13 13 11 11 11 11
Procedures (number)
Time (days) 48 48 48 35 89 89 71 35
17.8 15.9 13.6 9.3 53.4 49.5 62 73.7
Cost (% of income per capita)
1,236.50 1,104.20 946.7 213.1 0 0 0 0
Min. capital (% of income per
capita)
Dealing with Licenses
Rank .. .. 151 153 .. .. 154 155
Procedures (number) .. .. 28 29 .. .. 20 20
Time (days) .. .. 359 367 .. .. 270 270
.. .. 101.1 84 .. .. 678.5 606
Cost (% of income per capita)
Employing Workers
Rank .. .. 77 78 .. .. 113 112
11 11 11 11 33 33 33 33
Difficulty of Hiring Index
20 20 20 20 20 20 20 20
Rigidity of Hours Index
Difficulty of Firing Index 40 40 40 40 70 70 70 70
23 23 24 24 41 41 41 41
Rigidity of Employment Index
.. .. 44.5 44 .. .. 16.8 16.8
Nonwage labor cost (% of
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salary)
91 91 91 91 55.9 55.9 55.9 55.9
Firing costs (weeks of wages)
Registering Property
Rank .. .. 21 21 .. .. 108 110
.. 3 3 3 .. 6 6 6
Procedures (number)
Time (days) .. 32 32 32 .. 62 62 62
.. 3.1 3.1 3.1 .. 13.1 7.9 7.8
Cost (% of property value)
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Economy CHINA INDIA
Year 2003 2004 2005 2006 2003 2004 2005 2006
Getting Credit
Rank .. .. 117 101 .. .. 96 65
Legal Rights Index .. 2 2 2 .. 4 4 5
.. .. 3 4 .. .. 2 3
Credit Information Index
Public registry coverage .. .. 0.4 10.2 .. .. 0 0
(% adults)
Private bureau coverage .. .. 0 0 .. .. 1.7 6.1
(% adults)
Protecting Investors
Rank .. .. 114 83 .. .. 33 33
Disclosure Index .. .. 10 10 .. .. 7 7
.. .. 1 1 .. .. 4 4
Director Liability Index
.. .. 2 4 .. .. 7 7
Shareholder Suits Index
Investor Protection .. .. 4.3 5 .. .. 6 6
Index
Paying Taxes
Rank .. .. 169 168 .. .. 159 158
Payments (number) .. .. 48 48 .. .. 59 59
Time (hours) .. .. 872 872 .. .. 264 264
Profit tax (%) .. .. .. 17.7 .. .. .. 14.3
Labor tax and .. .. .. 51 .. .. .. 19.4
contributions (%)
Other taxes (%) .. .. .. 8.3 .. .. .. 47.4
.. .. 77.4 77.1 .. .. 95.2 81.1
Total tax rate (% profit)
Trading Across Borders
Rank .. .. 35 38 .. .. 139 139
Documents for export
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.. .. 6 6 .. .. 10 10
(number)
.. .. 20 18 .. .. 36 27
Time for export (days)
Cost to export (US$ per .. .. 335 335 .. .. 863 864
container)
Documents for import .. .. 11 12 .. .. 15 15
(number)
.. .. 24 22 .. .. 43 41
Time for import (days)
Cost to import (US$ per .. .. 375 375 .. .. 1,244 1,244
container)
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Economy CHINA INDIA
Year 2003 2004 2005 2006 2003 2004 2005 2006
Enforcing Contracts
Rank .. .. 59 63 .. .. 173 173
Procedures 31 31 31 31 56 56 56 56
(number)
Time (days) 292 292 292 292 1,440 1,420 1,420 1,420
26.8 26.8 26.8 26.8 35.7 35.7 35.7 35.7
Cost (% of debt)
Closing a Business
Rank .. .. 69 75 .. .. 128 133
Time (years) 2.4 2.4 2.4 2.4 11.3 10 10 10
Cost (% of 22 22 22 22 9 9 9 9
estate)
Recovery rate 31.7 31.7 31.5 31.5 10.6 12.2 12.8 13
(cents on the
dollar)
Economy Characteristics
GNI per capita .. .. 1,290 1,740 .. .. 620 720
(US$)
.. .. 13.1 .. .. .. 23.1 ..
Informal economy
estimate (% GNP)
Population .. .. 1,290,000,000 1,304,500,000 .. .. 1,060,000,000 1,094,583,000
Source : Doing Business – The World Bank Group Report
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