Date post: | 14-Apr-2017 |
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Small Business & Entrepreneurship |
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Challenges and Opportunities for future Entrepreneurs.
TANYA SINGH
TYBBM
What is entrepreneurship?
Entrepreneurship is the development of a business from the ground up or coming up with an idea and turning it into a profitable business.
Entrepreneurship types
Small Business
Scalable Startups
Large Company Social
Does age matter?
Jamsedhji Tata Deepinder goyal Richa kar Farrhad acidwalla TATA GROUPS ZOMATO ZIVAME Rockstah Media AGE: 29year 29years 33years 21 years
Startups are getting easier but not entrepreneurship!!!
More access to information
Techniques to mitigate our risk
Easy availability of finance
Cost of entry for a startup is at an all-time low
How challenging can it be? Developing the Vision and Business Idea:
Identifying a problem seeing an opportunity in the problem Coming up with a solution Forging the opportunity into a business idea Integrating the solution into a business plan.
Poor market research: Understanding your potential market.
Detailed business plan: Helps us to figure out exactly how the business will run and the
expenses that will be incurred and the estimated revenue generation
Raising Capital for Startup: Convincing investors about something that does not exist
How challenging can it be? Developing a business team: a business team is needed to cover up or compliment the
weaknesses of the entrepreneur.
Unforeseen challenges: Unexpected law suits, Inconsistent government policy, unpaid bills and taxes etc.
Competition: Formulation of suitable measures to deal with new competition.
Keeping Up With Industrial Changes and Trends: The only thing constant is change! This makes it difficult to find effective solutions.
Opportunities Fresh water industry: water efficient agriculture or fresh water production
Urbanisation: Compact green and smart cities ,Rural growth initiatives.
Fitness and wellness industry: It is estimated to grow to Rs 1,00,000 crore by 2015
App Market: By 2017 it is expected that mobile apps will generate $77 billion worth of revenue.
Software Industry: Annual growth rate of 30 per cent in India.
Opportunities Business Consulting: Help drafting the business plans, strategies, marketing
campaigns etc to the entrepreneurs
Media: Digital advertising and gaming records growth rates of close to 40 per cent annually
Tourism: new forms such as rural, medical and eco tourism.
Food processing industry: With a vision to utilize the large food production in India this industry is given due importance.
Baby Products: It expected to grow significantly at around 17 percent in terms of revenue by 2019 annually.
“Build your own dreams, or someone else will hire you to build theirs” – A.P.J Abdul kalam
Thankyou!