《•》Is upgrading the college youth towards Entrepreneurship is important? :-🌐👩🏻‍💼👨🏻‍💼🎓🏣《•》

Published in

The Early Bird’s Club

9 min readAug 3, 2021

📌Basically, the studying of entrepreneurship and its various activities had always been recorded since the early centuries, and thus, entrepreneurs are basically considered as the main pillars on which the whole societies are built.

Thus, entrepreneurship has been considered as one of the main resources which need to be developed by many of the developing countries in order to perform and compete with other business rivals in the globalizing market economy. According to a certain report in 2005 by the Commission of European Communities, it has been said that entrepreneurship is very important for the upcoming youth and it plays a vital role for the younger generations in order to do further social development by increasing the job opportunities and consequently economic development. In certain developing economies, the promotion of entrepreneurs and entrepreneurship has become a basic priority for governments, financial institutions, and academic institutions and it is believed that such amount of growth was only made possible through the efforts of the governments, institutions, and individuals who responded in order to set up their business platforms. In many of the developing countries, the Government sectors have emphasized mainly the importance of giving a full boost for making the business proposition for the entrepreneurship platform in order to attract customers support in certain ways such as allowing the government policies in order to do favorable promotion of their entrepreneurial activity, allowing the financial support in full availability and also setting up of both academic as well as an institutional support system for the entrepreneurship growth. Thus, India has also experienced and suffered many of the difficult situations starting up from different businesses, and handling the pressures of entrepreneurship in the growing of the initial stages which allowed the people from taking up entrepreneurship as a means for livelihood. Granting of license and business policies and controls and taxations had also been cited as one of the major business hurdles in the setting up and running of new entrepreneurship platforms. Thus, entrepreneurship had been encouraged in India by the systematic attempts for the removal of state-imposed structural and regulatory blocking systems and many of the progressive governments had allowed it to make it easier for the entrepreneurs to set up their own business platforms.

The growth of Bangalore and Hyderabad as the main entrepreneur hubs for the business organizations that have been engaged in the Information Technology business was basically the direct outcome through the government’s support in the form of tax holidays for the start-ups and sector-region based for starting new business ventures. But with the help of the Reserve Bank of India has allowed many of the banks for considering easier lending platforms to small and new businesses and thus, lowering borrowing rates from their banks has also made it worthwhile for the entrepreneurs who are running their profitable businesses. Therefore, the full support system and development of certain entrepreneurial activities by the various institutions basically allowed a business formation for setting up their training institutions for many of the young entrepreneurs. Several institutions across the countries such as the US, Singapore, the UK, Japan, Germany, and India have also set up special entrepreneur cells to support the ‘technopreneurs’ and other innovators and such institutions have allowed the basic management of knowing and understanding of starting and running any businesses or industries and also allowed incubation for the new businesses until they are sustained themselves. Many of the Asian countries have allowed shifting from being the sole caretaker of its people in order to become a business partner and resource provider for certain businesses by investing in the education of its youth and helping for the starting business enterprises through the incubation support by their government and its agencies, direct banks for providing easier lending support, easier funding from new SME development funds, market development by networking of SME with the bigger firms, transferring of new technologies to the SME on a favorable basis and provision of information services to the SME by government agencies.

So, is it necessary for allowing the college youth towards Entrepreneurship platforms?

I think in today's new z-generation, young entrepreneurs play a vital or important role for every youngster who basically wanted to become something in their life and allow themselves to start their own new business platforms or create new working environments for themselves and become their own boss or leader and bring new innovation and changes in their country’s economy. But it also depends on the teenager's positive mindset, planning, or eagerness to do it who are willing to build up their own businesses or wanted to do pursuing of their college degrees and then, started looking for new jobs or take responsibility for their parent's business. It totally depends on the youngster's mind whether they wanted to go for entrepreneurship or not and whether they would take the risks for reaching out to their business goals. Many small youngsters and college students in today's global platform had taken certain steps for taking up certain risks and learn from those sudden mistakes whether they had failed or not. It doesn’t matter whether the children had failed in the first attempt in starting their own businesses but the main thing is that at such a young age, they had basically taken such a stronger step and they would basically learn something from their mistakes and start working on it again and again unless they perform well in their targeted business goals and become the young entrepreneurs. If you are a new youngster or a college student who is willing to become one of the new young entrepreneurs, then, don't be afraid to take sudden risks and start working on goals without listening to societies’ sudden talks and learn and face your business consequences.

Emerging of Youth Entrepreneur in India.

India’s honorable Prime Minister Shri Narendra Modi has allowed the Ministry for the Skill Development and Entrepreneurship with the vision for harnessing the power of youth entrepreneurs by making them skilled and empowering them by not only becoming self-employed but also creating job opportunities for others also. On certain research statistics, 54% of the Indian population are under the age of 35, and close to 15 million basically enters the workforce every year and the only way through which many job opportunities can be created for such a huge population, continuously by creating a working environment for the entrepreneurship and innovation. With the help of the young innovative minds around them and government and industry initiatives that are allowing to promote innovation and entrepreneurship, India will become soon much topper in the global entrepreneurship platforms. Certain market-oriented reforms, and initiatives like Make in India, Digital India, Mudra Yojana, Atal Innovation Mission, 59-minute loan, Stand up India and Start-Up India had been encouraging aspiring and ambitious young Indians and the number of incubators has allowed an increase of 40% startups every year in India. Apart from technological and advanced innovation-based entrepreneurship, the Indian Government has equally supported large-scale entrepreneurship based on continuous innovation. The Ministry has also undertaken responsibility and taken strategic planning efforts in order to promote entrepreneurship and provide the necessary support to skilled younger candidates who are interested in starting their own enterprises.

Some of the younger entrepreneurs in India who has changed the business scenario:-

a) Ritesh Aggarwal( Founder and CEO of Oyo Rooms).

b) Deepanjali Dalmia( Founder and CEO of Heyday Care).

c) Ranveer Allahbadia( YouTuber of BeerBiceps, fitness coach, social media influencer, and internet personality).

d) Tilak Mehta( Founder of PapersNparcels).

e) Kavita Shukla( Inventor of Freshpaper and Founder and CEO of The Freshglow ).

f) Akshay Ruparelia( Founder of Doorsteps, a UK-based online estate agent).

Importance for Youth Entrepreneurship for younger individuals:-

Improvement of Valuable Skills:: Sometimes, formal education does not allow us to develop certain skills and talents in the right way and thus, we spend many years improving our skills that are not much value for our success at all. Thus, youth entrepreneurship helps youngsters to improve their soft skills and communication skills which are important for our business success, and other than that, you would learn to organize your working time, allowing yourself to be creative, improving your self-discipline, etc. Several youth entrepreneurship programs allow young entrepreneurs for developing their basic skills and knowledge in various sectors.

Getting Independency:: Maximum people do not learn certain important things for the whole of their life to live independently and thus, many of their lives depend upon their boss, parents, job, the economic situation in the country, etc and they do not have the right opportunity for making decisions on their own hand. Youth entrepreneurship allows you to change your life completely by allowing them to make their own decisions, organize their own working time, and being financially independent of their parents.

Doing what you Love:: The learning process should be innovative in order to learn new things which can be fun and interesting. We basically study those subjects that our teachers tell us to learn and much average kid does not have any interests in most of the lessons in school or colleges. The importance of youth entrepreneurship has become a huge role for young entrepreneurs and it basically provides a different working environment for the younger students for working properly within their own ideas, thoughts, and strategic planning and having the full motivation and positive mindset to reach their goals.

Getting out of your comfort zone:: Majority of the younger entrepreneurs stays in their comfort zone for the whole of their life in order to prevent their risks or ignoring their business consequences. Many youngsters do not learn from school that how much important their happiness and success are in order to take risks in order to perform well and reach their goals by working hard and giving their best in the business. Youth entrepreneurship allows making them feel ready for something like that they are striving for in order to improve all areas of their life by getting support from their mentors related to goal setting, productivity, mindset, body, taking risks, etc.

Self-Awareness and Confidence:: Young entrepreneurs who are working on what they love to do and taking risks in order to achieve their goals will basically allow them to improve their personality and mentality in order to face their competitors in the global market. Many of the kids around the world do not recognize their skills and abilities which makes them think they are useless and unworthy. Always remember that every individual in this world has at least one talent which makes them different from the others and if you are an average person, then you are still a talented person. Whenever any young entrepreneurs achieve their first goal, they would definitely start respecting and loving themselves who they are and their potential skills and efforts which allowed them to do huge changes in their economy.

Thus, young entrepreneurs have allowed young individuals for developing new skills and experiences and promote innovation and resilience in the business youth. As young entrepreneurs are particularly taking responsibility for new economic opportunities and trends, they would be able to create a better future and be able to bring new innovative changes all around the world.

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《•》Is upgrading the college youth towards Entrepreneurship is important? :-🌐👩🏻‍💼👨🏻‍💼🎓🏣《•》

Written by Dona Ghosh Dastidar