Page 128 - IT-802_class_12
P. 128

Traditional businesses require a huge investment for their machinery, infrastructure, products, staff, etc., while a startup
        is financed by its founders until the business is able to sustain itself and make more profits than what was invested.
        Most commonly, they aim at making profits (with some exceptions) and are not concerned whether they affect their
        customers’ lives. For example, a local grocery owner focuses solely on making a profit, while an entrepreneur always
        thinks about how his business can affect his customers’ lives or solve a particular problem.
        These days, we hear a lot about startups being founded. These startups can be related to the fields of food, textiles,
        clothing, health, education, technology, etc. Let us understand more about startups.

        Ð ÐA  startup  can  be  launched  with  a  small  investment.  These  days,  most  startup  ideas  involve  technology  or
           technology-driven ideas. For example, most food businesses are now using online services for food ordering and
           delivery. They can do business with their customers and partner with other restaurants and services with the help
           of good apps and websites.

        Ð ÐStartups seek investments in a different way than the majority of small businesses. They primarily rely on capital
           from angel investors or venture capital firms, whereas small businesses primarily rely on grants and government
           loans. Many Indian startups have received capital from global investors in recent years.

        Ð ÐStartups are known for their innovative and creative ideas. However, they also prefer to seek advice from other
           experts and mentors. Most entrepreneurs who want to start their own businesses join various local groups, social
           media groups, and even global groups to get advice and knowledge for their ventures.

        РГStartup India” is the Government of India’s flagship initiative aimed at creating an ecosystem for the growth of startup
           businesses in India. These policies were developed by the states. If they meet the criteria, new startups in India can
           benefit from regulatory and tax benefits, capital gain exemption, and government funding under this scheme.
          4.6 BARRIERS To ENTREPRENEURSHIP

        What exactly is a barrier? A barrier is an obstacle that prevents something from happening. Life is full of hurdles. When
        a baby bird hatches from an egg, it faces numerous challenges as it learns to fly. Every step it takes is a challenge. But it
        eventually learns to fly.
        Similarly, a business venture is inherently risky. Something that is dangerous is referred to as a ‘risk.’

        So,  while  embarking  on  the  entrepreneurial  journey,  entrepreneurs  face  numerous  challenges  and  risks,  such  as
        financial issues, employment issues, various work-related issues, and so on.
        Faced with challenges at the start of one’s entrepreneurial journey, a person may indeed be disappointed and unable
        to achieve their goals. Have you ever noticed that when there is bad weather, such as thunder and rain, weak trees fall
        on the roads, preventing vehicles from passing? As a result, the fallen tree here acts as a barrier or obstacle, preventing
        vehicles from reaching their destination.
        Have  you  ever  considered  what  obstacles  an  entrepreneur  might  face  while  running  their  business?  It  would  be
        fantastic if you went around your neighbourhood looking for aspiring entrepreneurs and talked to them about their
        challenges. After speaking with the entrepreneurs, you will understand the extent of the challenges they face on their
        path to success. Challenges could include a lack of funds or knowledge, as well as a variety of other obstacles. Let us
        look at some of the most common barriers:

        What do you believe are the obstacles that entrepreneurs may face while running their businesses? Find out by
        speaking with some local business owners nearby. After speaking with the entrepreneurs, you would have realised that
        they face numerous obstacles on their path to success. There are various barriers that can prevent one from pursuing
        one’s passion for entrepreneurship, whether it is a lack of knowledge or a lack of funding. Here are a few of the most
        common barriers.


          126   Touchpad Information Technology-XII
   123   124   125   126   127   128   129   130   131   132   133