Starting your own business is one of the few remaining paths to wealth. Everyone wants to do something that gives them chance to earn more money and it is possible by becoming an entrepreneur. Hundreds of thousands of people start their own businesses every year, and untold more dream about the possibility of becoming their own bosses. While entrepreneurship has its many potential rewards, it also carries unique challenges. Entrepreneurship is one of the critical decisions to be made and it involves number of risk and has its own advantages also. But the charm of being a master of you is always above any other form of work. To start your own venture you have to decide on many things. Making a choice of the right project is a difficult decision for an entrepreneur and is an imperative decision. For the reason that rest of the challenges for setting up a business is based on the type of the product and fund to invest. It is necessary for the entrepreneur to have qualities like ability to plan, maintain good public relation, reasonable risk taking capacity and of course have adequate financial resources.
Startup India Stand up
A startup India hub will be created as a single point of contact for the entire startup ecosystem to enable knowledge exchange and access to funding. Startup India campaign is based on an action plan aimed at promoting bank financing for start-up ventures to boost entrepreneurship and encourage startups with jobs creation.
Startup India is a flagship initiative of the Government of India, intended to build a strong ecosystem for nurturing innovation and Startups in the country. This will drive sustainable economic growth and generate large scale employment opportunities. The Government, through this initiative aims to empower Startups to grow through innovation and design.
What is Startup India offering to the Entrepreneurs?
Stand up India backed up by Department of Financial Services (DFS) intents to bring up Women and SC/ST entrepreneurs. They have planned to support 2.5 lakh borrowers with Bank loans (with at least 2 borrowers in both the category per branch) which can be returned up to seven years.
PM announced that âThere will be no income tax on startupsâ profits for three yearsâ
PM plans to reduce the involvement of state government in the startups so that entrepreneurs can enjoy freedom.
No tax would be charged on any startup up to three years from the day of its establishment once it has been approved by Incubator.
The first step towards setting up an industry is the identification of product and feasible product line after a thorough study of the market for the product, its demand and supply position, peoples changing attitudes, competition in the line, method of distribution etc. In both developed and developing countries, the Government is turning to small and medium scale industries and entrepreneurs, as a means of economic development and a veritable means of solving problems. It is a seedbed of innovations, inventions and employment. You do not need to be a genius to run a successful small business, but you do need some help. And that is exactly what this book is, a guide into the stimulating world of small business ownership and management.
Some of the fundamentals of the book are aluminum fabrications, bed sheet with pillow covers set, computer key boards (membrane type), cotton lycra (spandex) knitted wears, infant garments, leather travelling bag, nickel alloy wires, rotogravure printing, rotogravure printing, modem, mustard oil, jackfruit products, electronic weighing scales, crimped wire connectors etc.
The economic environment is going to be more and more responsive to enterprising activities and tremendous potential is likely to enhance for the devolvement of small scale sector at all level of investment. This book provide technical assistance and special guidance to the entrepreneurs in identifying profitable projects to be started with in Rs. 35,00,000. The book contains processes, project profiles, raw material and machinery list with the addresses of their suppliers. The book is very helpful for entrepreneurs, consultants, institutional libraries etc.
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