Youth entrepreneurship opportunities

Youth entrepreneurship opportunities may be found in the District Industries Centres (DIC), entrepreneurship training programmes, government organizations concerned with small industries, government micro small medium enterprises (MSMEs) organizations, Khadi Village Industries Commission (KVIC), National Small Industries Corporation (NSIC), NSIC Marketing Intelligence Services, Office of the Development Commissioner Small Scale Industries. There are various schemes of banks that may allow for youth entrepreneurship opportunities. Youth entrepreneurship opportunities may be found by participating in bank msme meets, bank women entrepreneurs meet etc. Youth entrepreneurship opportunities may also be found in the marketing of raw material itself like for example marketing rough granite blocks (which can be marketed internally or for export purposes), raw handicraft tussar silk etc. Banks hold town hall meetings for entrepreneurship development. Reserve Bank of India has a mandate that all banks should give 40 per cent of the total lending to priority sector like for micro small enterprises loan etc. For bank loan if the project project proposal has not been approved by banks then one can go to Reserve Bank of India concerned department.

From the Entrepreneur Development Programme  (EDP) training  youth may get to know about District Industries Centre (DIC) which may be the first place for the youth to visit. From there youth may start for their industry. You may get to know about the various industries suitable and existing locally and in the state so that you can choose an industry, you get the help to know the various locations for your industry, you get to know about the places to visit to find the locations of  raw material availability, market, help in preparing the project proposal for your industry, get Small Scale Industry (SSI) certification, help for subsidy application, help from DIC and Director of Industries to know the various government schemes for buying small scale industry products. So the office of the District Industries Centre is an an adviser throughout. 

In the msme meet, women entrepreneurs meet etc which is organized by banks from time to time, youth can participate with their queries in these meets and get solutions for their queries and may understand more about the viability of their chosen business.

Youth entrepreneurship questionnaire

Fill this questionnaire to see if you have the skills of an entrepreneur.

Q1. Are entrepreneurs intelligent?

A. YES
B. NO

Q2. Are entrepreneurs honest?

A. YES
B. NO

Q3. Are entrepreneurs hard working?

A. YES
B. NO

Q4. Are entrepreneurs dynamic, have big dreams and highly motivated? They think they can do it.

A. YES
B. NO

Q5. Although they are new, can an entrepreneur calculate and decide on the spot what to do or what not to do ?

A. YES
B. NO

Q6. Do entrepreneurs have the courage to take risks?

A. YES
B. NO

Q7. Do you think an entrepreneur knows what is best for his/her business?

A. He should implement only his decisions
B. He should allow family members to decide and implement their views

Q8. Is time important in the success of an entrepreneur?

A. YES
B. NO

Q9. Is the project proposal a direct reflection of the entrepreneur's business and the entrepreneur?

A. YES
B. NO

Q10. Bank loan- Is it the entrepreneur himself or herself  who takes away the loan?

A. YES
B. NO

Q11. When an entrepreneur chooses a business he chooses depending upon

A. The money he/she can invest
B. His/her first time as an entrepreneur
C. His/her experience
D, Profit
E. His/her technical know-how
F. Risks
G. A,B,C,D,E,F

 Q12. When an entrepreneur chooses a location, the entrepreneur looks for it's suitability depending on being a men or women entrepreneur?

A. YES
B. NO

Q13. The location suitability is dependent upon

A. The electricity supply
B. Raw material supply
C. Market

A. a (YES)/ b(NO)
B. a(YES)/b(NO)
C. a(YES)/b(NO)
D. A(a), B(a)&C(a)

 Q14. Is repayment of loan an integral part of an entrepreneur?

A. YES
B. NO

Q15. When an entrepreneur chooses machinery, he/she chooses it depending upon

A. Capital
B. First time as an entrepreneur

A. a(YES)/b(NO)
B. a(YES)/b(NO)
C. A(a) &B(a)

Q16. When an entrepreneur is going for a trial production, the laborers sents him/her a message to increase their wages. What should the entrepreneur do?

A. Bow down to them
B. Should not bow down to them

Q17. Does an entrepreneur need continuous supply of raw material?

A. YES
B. NO

Q18. As an entrepreneur how will you asses your competition?

A. Brand
B. Demand and Supply
C. A & B

Q19. Is the trend of market important?

A. YES
B. NO

Q20. If there is government dealings then

A. Risk is less
B. Risk is same
C. Risk is less or same


Q21. If there is private dealings then

A. Risk is more
B. Risk is same
C. Risk is more or same

Q22. An entrepreneur must depend only on one large market or must have many other alternatives with him /her also?

A. YES
B. NO

The answers to the above questions are given below:

Q1. A
Q2. A
Q3. A
Q4. A
Q5. A
Q6. A
Q7. A
Q8. A
Q9. A
Q10. A
Q11. G
Q12. A
Q13. D
Q14. A
Q15. C
Q16. B
Q17. A
Q18. C
Q19. A
Q20.C
Q21.C
Q22. A

How entrepreneurs control risk

Entrepreneurship is taking risk.

Banks look for capital investment from entrepreneurs. They give loan to sound industries for which the demand is stable. Banks invests in entrepreneurs and protect themselves from risks by taking mortgage or collateral security from entrepreneurs and that could be a fixed deposit, land etc. They also ask for a guarantor for the loan amount.

Sometimes the entrepreneurs also invests their own money in the ventures apart from taking bank loan partly. But there is no mechanism to protect the entrepreneurs from the risks of loosing their entire business because of non-repayment of bank loan.

When the entrepreneur starts a business they think that he/she has ensured everything but if the machinery is delivered and found defective and the entrepreneurs waits for the replacement or rectification, or if the entrepreneurs procures raw material at a higher cost for the production, or if the market condition has changed due to delay in production, and if the time for repayment of loan has begun and the moratorium period or the holiday period given by bank to the entrepreneurs before starting the recovery of bank loans is over, then the entrepreneurs are not able to meet the repayment of loan on time. There is piling of interests on loan amount. There is financial burden on entrepreneurs and a fear of loosing everything.

The government give subsidy as an incentive to entrepreneurs which is more for women entrepreneurs and less for male entrepreurs. The entrepreneurs need time to adjust and gain experience. Where there is no provision of government subsidy then there could be government incentives and if the government subsidy or incentive is disbursed directly to banks during the first year or so to meet the installments dues/non-repayment of bank loan then the entrepreneurs get time and can protect their business from risks and may be able to save their industries from becoming sick. This may be for help to entrepreneurs and especially for those entrepreneurs who due to no fault of theirs own come late into production. This may also become an incentive for many youth to become entrepreneurs.

UNDP and other UN organizations can work with the government to create financial incentives to make many new successful entrepreneurs.

According to a financial  institution, after completion of every work the bank releases a certain amount of the loan amount. Similarly, the government can also simultaneously schedule release the subsidy stage by stage in the same proportion as the bank to reduce the burden on entrepreneurs and burden on banks. Subsidy should be released within a time frame so that the industry does not become sick. It should be a time bound subsidy not only for women entrepreneurs but for all youth entrepreneurs. Reserve Bank of India can work together with the government to formulate the subsidy scheme.

According to another financial institution in this situation, malafide activities may occur. Subsidy should always be given towards the end.  The culture of an entrepreneurship business is always taking a risk and if that kind of subsidy is provided then non-genuine players will emerge. If there is no risk factor then what is the use of becoming an entrepreneur. An entrepreneur enters a business with confidence and risk taking ability.

#entrepreneursrisk Entrepreneurs and businesses can comment through the comment box.

Entrepreneur marketplace for sustainable development

A market for selling and buying small industry products.
Government can provide a marketplace where small scale entrepreneurs can showcase or sell their products. A marketplace where all of the small entrepreneurs may gather at one place to showcase or sell their products on a particular day weekly. Sometimes it is stipulated that the Government also buy from small scale entrepreneurs. They can also be present in this marketplace to give a chance to all entrepreneurs and buy from these small industries present there so as to give a fair chance to all. A ringing of a bell at a particular time may start the market business every week. Every entrepreneur can have a table and chair and wear a badge representing their particular industry so that it is easy for consumers to look for them for their particular products. All industries locally may be present there or participate on a rotation basis every week. Volunteers or company heads or the representatives can represent the companies there. Government can create ads for this marketplace on TV, radio, newspapers and through other channels to create awareness about this marketplace so that many consumers and sellers get to know and participate in this marketplace. When a small entrepreneur sets up a business he generally thinks of a local market to survive. So the Government may organize this marketplace in  district level in a state. This may help create a brand for every industry in the district. For those suppliers who cannot supply the required quantity or have excess demand in the marketplace may also buy from the nearest suppliers locally or from another district and so entrepreneurs may develop business with each other also. There may be networking, market and growth of business.

Government and small industry associations may work together to create such market place for small entrepreneurs. 

Google blogger business

One can say, that, Google can provide self-employment opportunities or business through Google "Make money with your blog" options.

If you are not aware of digital marketing or digital marketing campaigns, then there is a possibility that you may have missed out the Google "Make money with your blog" opportunities. The web designers and the Google bloggers may utilize this to earn money.

 For becoming Google bloggers, you do not have to spend anything to own a blog. You have to just create  posts, that is, write original content for the posts. You can write in your name or under pseodonym.

Google says, "To start using Blogger, simply sign in with your Google account. (If you use Gmail, Google Groups, or orkut, you already have an account.) If you don't have a Google Account yet, you can create one now".

 Google says, "Below is a list of the options for making money from your blog's traffic:

• Enabling AdSense on your blog
• Enable Affiliate ads in your blog posts
• Monetization with other services

 Blogger provides a simple way for you to make money with your blog. You can make money with your blog by enabling AdSense . AdSense is Google's content-targeted advertising program. If you use AdSense, relevant ads will automatically be shown based on what your posts are about. For example, if you blog about baseball, you might see ads for "Major League Baseball memorabilia" next to your post. If you blog about painting you might see ads for "Art Supplies". Ads will not appear on your blog until your application has been approved. The Earnings tab in Blogger makes it easy to enable AdSense ads on your blog".

If you have time to spare to write on the topic you love, you can start with Google Blogger and when you become eligible for becoming Google AdSense publisher, your earnings may start. You only have to invest on a device and on internet connection or else you can use the services of a cybercafe in your area and may become self-employed or bring business for yourselves through Google "Make money with your blog". This may result in poverty reduction and achieve one of the mdgs of United Nations. Google can look into the implementation of "Make money with your blog" so as to make a contribution to the society. NGOs and institutes working for the development and training can also train the individuals on blogging skills and making money.

Small entrepreneurs and business men who do not have a website of their own can utilize the Google Blogger for their web presence, add more customers and do internet marketing of their products.

Corporate Social Responsibility and entrepreneurship

One benefit of volunteering is gaining skills in an interested field and Corporate Social Responsibility is Corporate giving for the betterment of the community.

Banks are comfortable in giving loans for soft industries to women entrepreneurs. Women entrepreneurs go with the project proposals to banks. The project proposal is interpreted by banks as the business acumen of women entrepreneurs. Sometimes women entrepreneurs go from one bank to another bank for bank loan, making themselves, more knowledgeable in this process about the industry, to convince the next bank and take bank loan.

There are various government schemes for imparting training in entrepreneur development.

Corporate can take the responsibility for the development of young women entrepreneurs, as one of their CSR initiatives. Corporate can take young women as volunteers in their company, so that they acquire the practical skill sets to successfully set up and run an industry of their choice, so that it is easy for banks to also invest in them for an industry, which may not be considered as a soft industry by bank.

The women volunteer, there, can learn about the raw material, manpower, market, money and management which are essentials for an industry, to become successful entrepreneurs.

The women volunteer there will learn the source of raw material, how much raw material is required, how to ensure the constant supply of raw material, number of labourers required, male and female labour cost, number of staff required, staff salary, factory space required, number of machinery required, type of machines required that is automatic or manual machines, cost of machines, who are the suppliers of machines, the production technology used, how much production is made per day, how much unit is sold per day, packaging required, kind of transportation to be used, who are the purchaser of the goods, how much money is required for the day to day production, the best location suited for that industry, how to price a piece, what profit should be added i.e. profit making, gain knowledge about the competitors in that industry, who are there in this business and who may come up in the future, how to make a brand of a company, management of the staff etc. They will learn and can command the technical know-how of an industry. They learn all the dos and don'ts of an industry, in that company, so as to become successful women entrepreneurs. In addition, they may develop contacts with the suppliers of raw material, build market connections, develop networking opportunities with others in the business and there they acquire the skills of writing their own project proposals. They also get an opportunity to know whether that industry is suitable for them or not. The women volunteer if they run into trouble in the course of their business may also take help of the corporate in the successful running of their industry.They are now more experienced, more confident, more knowledgeable and can now approach the banks with a solid proposal for approval by banks.The corporate support to women volunteers may add more credibility for the women in the eyes of the bank to consider the women for bank loans.

The UN organizations like UNV/UNDP and the corporate can collaborate and develop the practical skills of an entrepreneur in women that may result in empowerment of women, gender equality and in the making of many more successful women entrepreneurs. This may lead to poverty reduction and achieving the mdgs of the United Nations.

youth entrepreneurship ideas

Grandeur Industries at msmemart.com says, "Raw material (the traditional handicrafts) and the market for traditional handicraft products can become an incentive to make large number of new entrepreneurs.

Very few people know about the market for traditional handicrafts so very few people venture into this business and when many people will know about the market (these organizations) many would venture into this business.

The market for traditional handicraft product can popularize itself through Entrepreneur Development Training Programme (EDP) and in many other various ways to reach out to youth.

The organizations conducting Entrepreneur Development Training Programme (EDP) can invite the handicraft buyers to speak in their training program so that the youth get an opportunity to know about this market and so many future entrepreneurs may venture into this business."

The idea above is for the general youth.  If the youth gets to know about these handicraft buyers, many youth may venture into the handicraft business. All the previous posts in this blog may also help the youth in handicraft business. There may be poverty reduction and achievement of mdgs of United Nations.

Grandeur Industries also says, " Grandeur Industries is conducting a online demand and supply meetup international event festival from 2nd July onwards for all who wants to become entrepreneurs and for the business growth of  other entrepreneurs.

This event will provide you with an opportunity to gain knowledge about the requirements of your business, if they can be met and for you to choose the best business.

We can use the symbols " and # to search and develop business online.

You can use these symbols " and # to type in your demand and supply of raw material, market etc in your social ;post and discover each other online.

For eg; type "#demandgranitetiles". Similarly, you can type for what you supply. For example: "#supply granite tiles". You can search and the search engine can help you discover each other to start your business. More examples are:
"#demandtraditionalhandicrafts" or "#supplytraditionalhandicrafts
"#demandlimestone" or "#supplylimestone"
"#demandtruck" or "#supplytruck" and etc.

Venue: Online
Type your demand or supply of your materials etc on your social post like Google plus etc and on our Send Enquiry Now or Contact Now Form or simply on our Send Enquiry Now or Contact Now Form. Can visit msmemart/grandeurindustries for more information on this event.

Advantages:
This is a place where you can experiment for various businesses to decide the best one for you. A place for business solutions for new entrepreneurs."

The UN organizations and the NGOs working for the entrepreneurs can use this platform. It may make many entrepreneurs.

They may take this information to the handicraft artisans also and make it possible for them to participate in this event to supply their products for example #supplyhandicraftwoodenpaintedtoys and etc handicraft items.

This way both the youth and the artisans meet online and develop handicraft business.

This event may bring less struggle for entrepreneurs, with specific reference to first generation and new entrepreneurs. This may also result in poverty reduction and attainment of one of the mdgs of United Nations.

Pricing handicrafts

The artisans form a society and work under that banner. There are many of them, for example, there may be around two hundred artisans or so in a society, each entrusted with a particular kind of work, to make a finished handicraft product. For example, in the making of traditional handicraft garden umbrella, a group of artisans is involved in cutting and stitching the cloth, another group is involved in cutting the motifs of elephants, flowers etc, another group is involved in stitching the mirrors on the cloth, another group is involved in stitching the ready hand crafted garden umbrella cloth on the umbrella sticks and etc work, to meet the demand of the number of garden umbrellas ordered and to be supplied to the corporation or individuals. There is bulk production, as per the orders.

For pricing of handicraft products, women entrepreneurs, have to understand what is required in the manufacturing of that handicraft product. For that, women entrepreneurs, should visit artisans manufacturing homes/villages. They can find many artisans living in urban areas as well as in rural areas. Women entrepreneurs, should also visit state handicrafts training centres. There they can see the manufacturing process of the handicraft products, the raw material required, and days taken to complete a piece. There they can learn the cost of the raw materials required to make a piece. Also they can talk to the officers of the state training handicraft centres, to understand more about the costing of a handicraft product and the artisan's cost in making a single piece, so that they can price their own products. If they are given permission, they can join these training centres to learn the manufacturing of the handicraft products they are interested in and they may also get a certificate, if such a provision is there. This gives a fair idea, to women entrepreneurs, to how to, price, a handicraft product. Artisans societies have printed letter heads and they can see on their letter heads what the artisans charge for a single piece of handicraft product that they supply to the corporation and private organizations and they use these letter heads for the release of the payments on a particular order from the corporation and others. Women entrepreneurs must see that. Women entrepreneurs, can buy similar products from them, at the same price, to compete in the handicraft markets. There are chances, that after receiving repeated orders, the artisans may try to increase the price of their products, so women entrepreneurs, have to handle that.