Page 85 - IT 402 v2.0 class 10
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y establishing the business entity entrepreneurs invest their own resources and attract capital from
investors and public. hey are known as ob creators. hey provide employability to a number of people.
his is why the government of India has taken initiatives such as Startup India to promote and support new
startups as they increase the growth in and per capita income and complete the need of consumers.
Entrepreneurs setting up new businesses and industrial units help with regional development by locating
in less developed areas. he growth of businesses in these areas simultaneously helps in the development
of infrastructure like roads stable electricity water supply schools hospitals drainage system convention
centre market etc.
MYTHS ABOUT ENTREPRENEURSHIP
e often hear the stories about entrepreneurs how great their life is and sometimes how bad they are
struggling. ntrepreneurship is a ourney and an entrepreneur has to go through many ups and downs.
here are many myths about entrepreneurship which blow up people who have thought of it.
ach entrepreneur looks into demand and then bring ideas. hey may take idea that is already in the
market and apply fresh new ideas to it.
Every business idea needs to be very unique and special: Each entrepreneur looks into demand and
then brings idea. hey may take idea that is already in the market and apply fresh new ideas to it.
Born Entrepreneurs: Many people assume that entrepreneurs are born not made. ut this is not true
entrepreneurship can be learned. It may be in the genes but it takes self-awareness and hard work to
develop the skills that entrepreneurs have.
Huge Money: It is not necessary that an individual needs a lot of capital to get a business up and
running. One can start it as small as he can and gradually can grow his business with proper planning
having business partners or by attracting investors.
Instant Profit: It is not always a cakewalk. Some companies are immediately successful but some may
take some time to reach there and make profit. ntrepreneurship is ust like a seesaw and there are
many ups and down.
Must to have a Good Idea: his concept is not entirely false but it is misleading. It is important to have
a good idea but factors like having a plan for the execution talent leadership and communication are
important too.
Luxuries Future: Growth of a company helps to outsource or recruit employees for the works but
there will always be certain responsibilities that an individual needs to work on. hen the business
is rapidly growing an entrepreneur devotes more time to the business for future aspects.
Only Young: One definitely does not have to be young to be a successful entrepreneur. In fact it has
been found that older adults are more involved into entrepreneurship. It is for all ages.
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