Impetus to Entrepreneurship is the need of Time!
| Education Jagat - 17 Mar 2018

Entrepreneurship is the activity of setting up a business taking on financial risks in the hope of profit. It is increasingly being recognized as a promising solution in most of the countries. It is being promoted actively by the Govt., Society and various supporting agencies. Entrepreneurship in any society is a sign of progress. If endorsed enthusiastically, it can help sustain growing economies; integrate unemployed individuals into the workforce besides leading to overall development of society 
     The United States and China are leading with the number of billionaires on earth and those are mostly concerned with the big business empires. US has found billionaires in Bill Gates, Warren Buffet, Steve Jobs to Google’s Sergy Brin and Larry Page to Face Book Cofounder, Mark Zuckerberg and many more who are the front runners of  innovation and entrepreneurial spirit. There are inspiring stories in other countries too covering different domains of business. India is home to ever increasing number of inspirational entrepreneurs. Inspiring stories of Dhiru Bai Ambani, Karsanbhai Patel, Azim Premji, Narayana Murthy etc. have been a greater source of belief for many to start the entrepreneurial journey. The need of the day is to create many more stars from the younger generation to try their hands at entrepreneurship.
   Creating an environment that significantly promotes entrepreneurship calls for effective strategy implementation and involvement at all levels. It requires effective contributions from Government, industry, political, social as well as educational sectors. The policies at all levels need to provide opportunities as well as all possible assistance. Moreover, a right kind of environment is needed to give further impetus to entrepreneurship. Policy regulations will need to engage the business, banking, educational and other sectors to be able to deliver improved and definitive steps to encourage and aid entrepreneurship. Industry as a part of social responsibility can create a very strong platform to help develop the youth and give them the support and guidance. Schools, Colleges and Universities have a greater role in this moment as there is little or no focus on developing entrepreneurial skills and spirit. Through proper linkages with the industry they should not only design the course but they should increase more practical trainings to build the business confidence. 
     Top Educational Institutions as IIM’s, IIT’s and emerging Universities like UPES, ITM, Sharda, Amity, SRM,  VIT etc. have been successful with their incubation centers which have led to the significant development of entrepreneurs. Colleges and Universities must start such incubation centers which will facilitate entrepreneurs from idea generation to execution with required assistance and support.  
   Advancements in information and technology nowadays have made it possible to take small business initiatives to greater levels and with fewer resources. Moreover, most business areas are highly impacted by the technology be it Marketing, HR, Supply Chain, Logistics, etc. For example, telecom penetration in India overtaking banking penetration by leveraging technology has paved ways for smart and economical solutions in the financial services sector. These huge opportunities offered by the IT advancements can give birth to cheap yet innovative and effective solutions related to human beings. 
  Growing and developing the next generation of entrepreneurs is vital for our survival and prosperity.

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