India is facing a crisis in which the statistics revealed about the last three months unemployment rate which has been the highest recently. And now the focus has been entirely shifted to creating entrepreneurs. It seems like that there are conditions prevailing for budding entrepreneurs but still seem that there are less number of entrepreneurs in India. Even there are some corporate, who are providing skills, seed funding, market linkages etc .
In this economy there is ABUNDANCE OF TALENT, BUT FEAR OF FAILURE AMONG THE YOUTHS. We got to know that 81% of fresh talent exists around us who have the skills and required knowledge to start a business. Now, they don’t only require the knowledge but also risk taking attitude should be there in people which lacks in a certain percentage of the folks. This attitude is what keeps people from taking risk and putting their ideas into reality. And even COVID situation or financial crisis situation added fuel to the fire.
Through the latest, it is to be confirmed that till now India has the lowest number of entrepreneurs, only 5%, and in their comparison 23% population in the US, 17% in Brazil and 8% in China are entrepreneurs.
LACK OF EXPOSURE AND AGENCY– with our work we know that there are less opportunities and exposure and due to that we could not put our talent to use like we can now. And as per the GEM report, due to the excess news of violence, and lack of physical and digital safety, have increased the fear among them to go for on-ground experiences which will help them to gain skills and build real life key capabilities. But due to all these things and not going out still keeps the number low in terms of budding entrepreneurs.
HOW CAN WE INCREASE THE UPTAKE OF THE ENTREPRENEURSHIP FROM THE GROUND-UP?
Not having the rights to avail government schemes and hierarchical rights and many foundational rights leads to low capacity and risk taking for the entrepreneurs and once having them can lead them to have increased level to high their potentials and even can make them smart enough to take decisions.
Young people should make their habits to sit with smart people to adapt their habits and know how things work. Even at points they should be involved in the decision making process so as to make them understand and make the point of decision making.
Entrepreneurs are not born- they are made. That is through their experiences and mindset.
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