ENTREPRENEURSHIP IN KASHMIR
Concept of Entrepreneurship.
Entrepreneurship in the ability and inclination to evolve, organize and start a business venture along with any of its uncertainities with an view to make profit. Entrepreneur is defined as an individual who has ability and vision to administer, establish and succeed in a start up alongwith risk involved in it to succeed. They are often known as a source of new idea in market place wherein they replace old existing system or business practices with new one. To have a successful startup entrepreneurs must have characteristics like ability to take risk, innovations, vision and leadership quality, open-mindness and flexibility.
Types of Entrepreneurship.
Small business entrepreneurship is the concept of starting a business without converting it into a large conglomerate. They invest their own money and don’t have outside investors. For eg single-location restaurant, grocery shop or retail shop for hand made goods.Scalable Startup are companies with unique idea wherein it believes in innovating with unique product & service and continue growing company as time move on. They at times depends on investors and large amount of capital to grow their business.Large company entrepreneurship is an off shoot of large existing company. These entrepreneurship are business division of existing company well placed to branch into different sectors & also involved in new technology.Social Entrepreneurship is for benefit of society and people. It aims at helping communities & environment via their product, services and are not profit driven.
Entrepreneurship in Kashmir.
The JKEDI-Jammu & Kashmir Entrepreneurship Development Institute established in 1997 & effective with effect from 2004 has created a wide network in state with aim to provide support and training to people with a host of services of research and training for entrepreneurial skills like development programmes, orientation programme, awareness programme, consultancy and information. The JKEDI has over the years flourished entrepreneurship development significantly in the state by acting like a pillar and conducting all the programmes in the state, through which it is providing training of entrepreneurial skills among people thus generating employment opportunity in state.The success stories of entrepreneurship clearly shows various budding store owner getting employed and starting their own stores in the region through Himayat Scheme and financial support provided by JKEDI. The JKEDI has signed memorandum on 19th Feb 2021 with WE Hub (Women Entrepreneurship Hub) to boost the entrepreneurship cell and encourage female entrepreneurs to come forward and kick-start their own ventures.Success stories of above scheme includes entrepreneurs like Shaheena Akhtar an award winning entrepreneurs with JKEDI and today is one of the leading business woman. On International Woman day, JKEDI, inaugurated the Entrepreneurship Development Program (EDP) as part of the Tejaswani (The Radiant) livelihood scheme, a unique endeavor of mission youth to empower young women and enable them to become self-reliant.
Benefits of Entrepreneurship
Entrepreneurship would significantly contribute in economic development of the state, with new business & new markets. Entrepreneurship increases competition and boost productivity. For innovative individuals it gives an opportunity to align their core values & career with profound fulfilling experience.“Passion resourcefulness, willingness and strong determination to succeed make an entrepreneur successful.”
