Entrepreneurship And Entrepreneurship

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Concepts of Entrepreneur & Entrepreneurship In general, one can define startup as a business that has recently set up and has a comparitively faster rate of growth. The reason to faster growth rate is the goal to successfully meet the requirements of a market. This is possible by the development of a product or a service business model capable of catering to the market needs. Government of India defines startup as ,“an entity, incorporated or registered in India not prior to seven years (for biotechnology startups, not prior to ten years) with annual turnover not exceeding Rs. 25 crore in the previous financial year.” One can define startup as a business venture that has recently entered into the market. Consider a start up to be at an early…show more content…
When it is about successfully running a business venture, entrepreneurs follow a completely different approach of handling uncertainity and risk. These individuals are so efficient at development and maintainance of relationships with suppliers, employees, customers, and various other stakeholders who assist in carrying out the business operations. These entrepreneurs successfullly develop harmonious relations with their staff and never rely on formal hierarchy. Entrepreneurs have an ability to make unique and special relationship within their network that helps them in the financial endeavours. Not just this, entreprenuers develop extraordinary strategies, aimed at bringing expected results. Also, these individuals help in effective decision making. Considering the special characteristics of entrepreneurs, following are some of them that can efficiently help in new ventures and…show more content…
Setting up new ventures can significantly help in removing the disparities that arise with the region among people. Not just this, one can never ignore the added benefits of health, road transportation, entertainment, and education. Thus the establishment of various business ventures in backward region brings along a series of benefits such as balanced regional development. For example, PC Mustafa, an entrepreneur employed people belonging to the rural areas. Mustafa’s company had prepared the batter for idli and dosa and on every request ID Fresh and many families in Southern India purchased it. It was in the year 2015, that his company had networth of Rs.

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