Wednesday, 23 March 2016

Entrepreneur hardships

  • Women entrepreneurs may have to manage their family as well as work thus reducing the time that they may have utilized to work for the growth of their industry/businesses
  • To meet more money requirement as against the expected expenses
  •  Labour exploitation - Labourers may try to exploit the woman entrepreneur may be to meet their unnecessary demands or  else they may stop the work especially if there is manual operation in the industry and the entrepreneur is dependent on labour production
  • When a woman entrepreneur is new, then giving money to persons trusting them (both known and unknown persons)  to get some work done for the business/industry and the person may give the hope of doing the work but exactly doing the opposite of not doing the work and also not giving back the money can be a hardship to bear in the business
  • When a woman entrepreneur is new and  the entrepreneur has been convinced by the manufacturer/supplier of machine to send the qualified technical person to the site to install the machine but at the time of installation of the machinery if the manufacturer or supplier of the machine only gives the print of the foundation lay out  and does not send the engineer or technical person to the site especially if it is in the most backward area to install the machine, then the woman entrepreneur may have to run around, waste money and time to search for the technical person to install the machinery at the site. The woman entrepreneur may feel harassed. 
  • In some cases,the entrepreneur can not rest until and unless quality goods from the factory site have reached the destination on time and the buyer is satisfied to give more orders
  • If the entrepreneur has been dependent on a large single market, and if the orders are not there due to change in the market demand then the entrepreneur may go through marketing hardship
  • When a bank loan installment is unpaid and the interests accrue and the financial institution official's visits continue then the entrepreneur goes through anxiety of legal action and money hardship.

Saturday, 12 March 2016

Philately business

According to the interaction with people in philately business, philately items business that could be possible is:

There are stamp collectors who purchase stamps, exchange the stamps amongst them, and buy and sell them amongst themselves also. There are stamps on different subjects like on flowers, endangered species, etc. When new stamps are issued then after sometime few of the stamps may become rare also. The stamps which are available in the post office counter are general stamps.

There is advantage in philatelic business that a stamp which is for Rs 5/- cannot be sold less than Rs 5/- but it will always sell only in higher amount. It is a good way of investment. When a person will start collecting the stamps then only the person can understand this. There are 45 pieces in one sheet which is costing Rs 225/- only. Sometimes, some stamps that are released then after 2-4 days of its release it may cost Rs 1000/- also like "swach bharat" stamp. These stamps become rare stamps. There was a Gandhiji stamp which was for Rs 10/- in 1948 but  today it's price is Rs 3 lakhs. The stamps become rare after 100 years.

In a year, stamps to the value of Rs 500/- to Rs 600/ are released so a person is investing only Rs 500/- in a year which is affordable. From January to March four stamps have been released and the value of four stamps is Rs 20/- only  that is each stamp is for Rs 5/- only. So investment is less, and there is no chance of selling the stamp for less than Rs 5/- and so there is no worry.

Stamps items are purchased for use and also for show that is to keep in the drawing room. There are brass letterbox which are made in Moradabad which is famous for brass work are good show pieces. Philately is a old hobby. In the year 1752, there were brass stamp of one anna and today there are only two pieces of it- one is in Bhopal, India and the other piece is in Britain and they are worth crores of rupees. It is in philatelist collection. There are philatelic exhibition, where the stamps are exchanged, and buying and selling of the stamps occur. The exhibition occurs once in every district. World Philatelic exhibition was also organized in India in which philatelist from all over the world had participated for exchange and for buying and selling of the stamps. If a person has a full series stamp collection he has a better chance that is the demand for his stamps increases. Today, in some of the English medium schools in India, there are philatelic clubs.

Prints of Stamps are being used in designing handbags, paper bags, jute bags and rexine bags. There are photo frames with stamps on wild flowers of India, festivals of India etc. There are booklets which contains stamps of 60s and 70s and something about that is mentioned in the booklet. There are philatelic calendars. Prints of stamp are being used in designing of T shirts and coffee mugs. There are greeting cards also. Stamps are sold. Some are used ones, some are new ones and the value depend on the freshness of the stamps also.

If there could be growth of micro and small businesses in philately and if post office can give a platform to display the items of micro and small business owners in philately so that buying and selling occurs then many may become self employed and there will be poverty reduction.

Sunday, 6 March 2016

Entrepreneur notebook

Entrepreneur's notebook is a notebook where entrepreneurs can keep the information about their business. When the entrepreneur is setting up his/her industry then for example when the construction work for the office building is going on then the supervisor who is supervising the work gives a daily report to the entrepreneur like how much work is completed on that day, the expenditure made on that day, the materials to be purchased the next day, the transportation cost to be met to bring the material to the factory site next day, number of labourers already engaged and how many more are required to be engaged the next day, technical person required etc. He is asking for money to buy those things and arrange for the transportation of the goods to the factory site, and give daily wages to the labourers.

The entrepreneur's note book is really a handy and efficient tool that can be used to note down the daily expenditure made on labourers and material and to keep a daily report on the work completed, the next day expenditure on material and labourers required so that day to day progress is there in the note book and the entrepreneur can refer to those daily notes to see as to how well the money is being utilized in setting up the industry. In addition, visits of the financial institutions officials and representatives of the supplier of the machine date wise along with their names could be maintained in the notebook and the date of the delivery of the machine could also be there in the note book. The delivery date of the machine in the note book will help the entrepreneur in visualizing how many days are left in the moratorium period/holiday period (moratorium period is given by the financial institution to the entrepreneur to settle down before the start of the repayment of loan) to be over before the start of repayment of loan. The money deposited as security money with the Electricity Board and the date on which it was deposited could be maintained in the notebook for fast reference. The date on which the electricity connection was given if it is there in the notebook to refer then that would help the entrepreneurs to know how much time they are taking for production and if it is delayed production then how much delayed it is (delayed production is loss of money) to keep the entrepreneurs on their toes. How much payment has been made to the raw material supplier etc if it is there in the notebook then this will help the entrepreneur to remember it at a glance in times of doubt.

The note book can contain the entrepreneurs scheduled meetings with the different stakeholders/partners, and weekly plans - so that it is easy for entrepreneurs to compare the profits and losses inside the business and the improvements made and to be followed and the talk with the buyers if it is there in the notebook then that would help the entrepreneur in remembering what they said and the next step to prepare.