Starting their own venture and taking the route of being an entrepreneur is usually not an option that many Indian youths opt for, while in the western countries, individuals prefer starting their own business ventures instead of opting for a job. It is not that Indian youths don’t have the required skills, intelligence, and risk-taking abilities, but it is more about the Indian culture as a whole. From the school academics, up until the higher education, a person is never guided towards starting his/her own venture.
There are various different reasons that form the root cause of people wanting to do the job in MNCs, without even giving a thought to starting up their own business. I personally believe that it is a really great option to start with a franchise business in India as it requires little or no investment while giving out great returns.
In my opinion, the reason why people in India usually shy away from starting their own business are:
Usually, an individual in western cities is made to start working at the early age of 16. The youths are made to start earning and support their own expenses. But in contrast to that, the youths in India are supported by parents up until they get a decent job. The result is that the individual does not even think of earning till the age of 20 and don’t give serious thought to their careers.
Society is another factor that limits the opportunities for the youth in India. Discrimination based on caste and creed is a major factor and even the work is differentiated based on that. Since the early days, the individuals’ dream of working for MNCs and working small-time jobs as a waiter or a hospitality staff is not considered as a viable option because it is considered way below their status. In all the individuals don’t want to leave their comfort zone and the society doesn’t encourage innovation and entrepreneurship as well.
The Indian youths are already in the mid-20s when they complete their academics and get a promising job. It is when the pressure of the family starts to kick in for the marriage. The result is that the individuals don’t have the time to explore their talent and thus get stuck in fulfilling the expectations of their parents instead of choosing the path for themselves that can help them to grow as an entrepreneur.
There is a lot of bias on the basis of sex. Mostly, the women are not considered fit for opting a career in entrepreneurship, and they have to fight their way out at every step. There are many of the different initiatives that are working in the direction to empower women and generate a workplace that favors women. One such initiative is Silver Stag that aims to develop a safe and secure work environment for women and also help them through every step in getting started with their own business. It promotes franchise business without investment in India to make it easier to get started on the path of being an entrepreneur.
Education plays a major role in shaping the career path of every individual. At every corner, while people are in the schools and colleges, they are told how important it is to get the job in MNCs and the top-level companies. A little or no focus and guidance is provided towards starting a business and thus the individuals have no idea where to start when the time comes.
These are a few of the different reasons that I believe are making a hurdle for the youths and stopping them from opting for a career as an entrepreneur. In my opinion, there is a need to develop a proper infrastructure and to educate the youth to start their own business ventures.
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