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A study on the attitude of graduated youths towards entrepreneurship

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Entrepreneurship is the development of a business from the ground up — coming up with an idea and turning it into a profitable business. But while the definition of entrepreneurship may be simple, its execution is much more difficult. "Entrepreneurship is the journey of opportunity exploration and risk management to create value for profit and/or social good. Gottlieb said that an entrepreneur is someone who can take any idea, whether it be a product and/or service, and have the skill set, will and courage to take extreme risk to do whatever it takes to turn that concept into reality and not only bring it to market, but make it a viable product and/or service that people want or need. Entrepreneurship has become an everyday buzzword. Policymakers, economists, academics and even university students are talking about it. Seminars, conferences and workshops are being organized every year across the world which emphasized on the importance of entrepreneurship to country, society as well as individual This, in turn, has increasingly made entrepreneurship emerged as one of the most popular research domain in academic circles to study on the importance and contributions of entrepreneurship (Lee, Chang et al. 2005)[10].Courses in entrepreneurship are also becoming a popular at college and university levels (Brown 1999)[11]. Although there are no specific traits of an entrepreneur but there are certain characteristics that most successful entrepreneurs possess, Ability to plan
• Communication Skills
• Marketing skills
• Basic Management Skills
• Interpersonal Skills
• Leadership Skills
Successful entrepreneurs are those who always learn from their failures; who always tried to solve problems; tried to strength their weakness and make sure that this is what we actually want. They are the risk taker and it is the prime motive that should be developed in the students. Students are the forth comer who can become an entrepreneur.
By this study we trying to know the attitude of graduated youths towards entrepreneurship, who completed their graduation and post-graduation in different groups. So I collected the data from 107 graduated and post graduated youths in different discipline such as Management, Commerce, Science, Engineering and other disciplines in Idukki District.

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A study on the attitude of graduated youths towards entrepreneurship

  1. 1. A STUDY ON THE ATTITUDE OF GRADUATED YOUTHS TOWARDS ENTREPRENEURSHIP Dissertation submitted to the Mahatma Gandhi University, Kottayam in partial fulfilment of the requirement for the degree of MASTER OF COMMERCE Submitted By VAIRAKUMAR R [Reg. No. 150011017541] Under the guidance of Mr. TOMY THOMAS, M.Com. M.Phil. Assistant Professor, Research & PG Department of Commerce RESEARCH & PG DEPARTMENT OF COMMERCE MARIAN COLLEGE KUTTIKKANAM Affiliated to Mahatma Gandhi University, Kottayam Kuttikkanam P.O., Peerumedu, Kerala - 685531 2017
  2. 2. DECLARATION I VAIRAKUMAR R [Reg. No. 150011017541] a bonafide student of Marian College Kuttikkanam, do hereby declare that the project entitled “A STUDY ON THE ATTITUDE OF GRADUATED YOUTHS TOWARDS ENTREPRENEURSHIP” has been prepared by me under the guidance of Mr. Tomy Thomas, Asst. Professor at Marian College Kuttikkanam, in partial fulfilment of the requirement for the award of the degree in Master of Commerce under MG University Kottayam. I also declare that this project report has not been submitted in full as in partial to any other University as Institution at any time for the award of any Degree or Diploma. VAIRAKUMAR R Kuttikkanam Date:
  3. 3. CERTIFICATE This is to certify that the dissertation entitled “A STUDY ON THE ATTITUDE OF GRADUATED YOUTHS TOWARDS ENTREPRENEURSHIP” is a bonafide piece of research work carried out by VAIRAKUMAR R [Reg. No. 150011017541] under my supervision and guidance in partial fulfilment of the requirements for the award of the Degree of Master of Commerce. He is permitted to submit the dissertation to Mahatma Gandhi University Kottayam. Mr. TOMY THOMAS Asst. Professor, Research & PG Department of Commerce Marian College Kuttikkanam Counter Signed By Dr. CHACKOCHAN J NJAVALLIL M.Com. M.Phil. Ph.D. M.Com. Programme Head Marian College Kuttikkanam Kuttikkanam Date:
  4. 4. ACKNOWLEDGEMENT First and foremost, praises and thanks to God, the Almighty, for his showers of blessings throughout my project endeavour to complete the work successfully. I take this opportunity to express my profound gratitude and deep regards to my guide, Mr. Tomy Thomas, M.Com. M.Phil. (Asst. Professor, Research & PG Department of Commerce), Marian College Kuttikkanam for his exemplary guidance, monitoring and constant encouragement throughout the course of this project. The blessing, help and guidance given by him carried me a long way in the journey of life on which I am about to embark. Without his supervision and constant help this dissertation would not have been possible. I also take this opportunity to express a deep sense of gratitude to Rev.Fr. Dr Roy Abraham Principal, Marian College Kuttikkanam for his encouragement and help in completing this task through various stages. I would like to express our deepest appreciation to Dr. Chackochan J. Njavallil, Head of the M Com Programme, Marian College Kuttikkanam who has shown the attitude and substance of a genius and for his constant support and facilitation throughout this project work. I am obliged to express my thanks to all the Teachers of PG Department of Commerce, Marian College Kuttikkanam for their valuable suggestions and help during the course of this project. I feel proud to record my gratitude to my Parents for their love, prayers, caring, and keen interest shown to complete this project. VAIRAKUMAR R Kuttikkanam Date:
  5. 5. CONTENTS Chapter Title Page No: Chapter-I Introduction 1-3 Chapter-II Review of Literature & Theoretical Framework 6-31 Chapter-III Data analysis and Interpretation 33-60 Chapter-IV Findings, Suggestions and Conclusion 62-66 Bibliography 67 Appendix 70-72
  6. 6. LIST OF TABLES Table No Table Page No 3.1 Gender of the Respondents. 33 3.2 Qualification of the respondents. 34 3.3 Department of the respondents. 35 3.4 Awareness of respondents about the business. 36 3.5 Interest of the respondents to commence a new business. 37 3.6 Type of business operation respondents would like to commence. 38 3.7 Form of business 39 3.8 Opinion of respondents about that the entrepreneurship-safest career path in future. 40 3.9.1 Awareness of the respondents about business law 41 3.9.2 Awareness of the respondents about the corporate law 42 3.9.3 Awareness of the respondents about the tax law and practices 43 3.10 Barriers and difficulties faced by the respondents to commence a new business 44 3.11.1 to 3.11.6 Barriers and difficulties faced by the respondents to commence a new business (Lake of capital) 45-50 3.12 Respondents awareness about the procedures to commence a new business 51 3.13.1 to 3.13.4 factors that can influence the respondents to commence business (family) 52-55 3.14 Source of capital (finance) for the business 56 3.15 Awareness about the Govt. Policies, rules and regulations of start-ups and business 57 3.16 Destination preference of the respondents to commence a new business 58 3.17 Respondents expectations from the central and state Govt. 59 3.18 Concessions expected by the respondents from the central and state govt. to commence a business. 60
  7. 7. LIST OF FIGURES Figure No Table Page No 3.1 Gender of the Respondents. 33 3.2 Qualification of the respondents. 34 3.3 Department of the respondents. 35 3.4 Awareness of respondents about the business. 36 3.5 Interest of the respondents to commence a new business. 37 3.6 Type of business operation respondents would like to commence. 38 3.7 Form of business 39 3.8 Opinion of respondents about that the entrepreneurship-safest career path in future. 40 3.9.1 Awareness of the respondents about business law 41 3.9.2 Awareness of the respondents about the corporate law 42 3.9.3 Awareness of the respondents about the tax law and practices 43 3.10 Barriers and difficulties faced by the respondents to commence a new business 44 3.11.1 to 3.11.6 Barriers and difficulties faced by the respondents to commence a new business (Lake of capital) 45-50 3.12 Respondents awareness about the procedures to commence a new business 51 3.13.1 to 3.13.4 factors that can influence the respondents to commence business (family) 52-55 3.14 Source of capital (finance) for the business 56 3.15 Awareness about the Govt. Policies, rules and regulations of start-ups and business 57 3.16 Destination preference of the respondents to commence a new business 58 3.17 Respondents expectations from the central and state Govt. 59 3.18 Concessions expected by the respondents from the central and state govt. to commence a business. 60
  8. 8. CHAPTER- I INTRODUCTION
  9. 9. 1 I. INTRODUCTION Entrepreneurship is the development of a business from the ground up — coming up with an idea and turning it into a profitable business. But while the definition of entrepreneurship may be simple, its execution is much more difficult. "Entrepreneurship is the journey of opportunity exploration and risk management to create value for profit and/or social good. Gottlieb said that an entrepreneur is someone who can take any idea, whether it be a product and/or service, and have the skill set, will and courage to take extreme risk to do whatever it takes to turn that concept into reality and not only bring it to market, but make it a viable product and/or service that people want or need. Entrepreneurship has become an everyday buzzword. Policymakers, economists, academics and even university students are talking about it. Seminars, conferences and workshops are being organized every year across the world which emphasized on the importance of entrepreneurship to country, society as well as individual This, in turn, has increasingly made entrepreneurship emerged as one of the most popular research domain in academic circles to study on the importance and contributions of entrepreneurship (Lee, Chang et al. 2005)[10].Courses in entrepreneurship are also becoming a popular at college and university levels (Brown 1999)[11]. Although there are no specific traits of an entrepreneur but there are certain characteristics that most successful entrepreneurs possess, Ability to plan  Communication Skills  Marketing skills  Basic Management Skills  Interpersonal Skills  Leadership Skills Successful entrepreneurs are those who always learn from their failures; who always tried to solve problems; tried to strength their weakness and make sure that this is what we actually want. They are the risk taker and it is the prime motive that should be developed in the students. Students are the forth comer who can become an entrepreneur. By this study we trying to know the attitude of graduated youths towards entrepreneurship, who completed their graduation and post-graduation in different groups. So I collected the data from 107 graduated and post graduated youths in different discipline such as Management, Commerce, Science, Engineering and other disciplines in Idukki District. SIGNIFICANTS OF THE STUDY The study will be a significant endeavours in understanding the attitude of youths towards entrepreneurship. This study will be beneficial to the Graduated youths for commencing a new business and able to understand the factors which are influencing to commence a business, and barriers to commence a business. And this study will be also beneficial to the Governments for
  10. 10. 2 formulating and executing new policies and procedure. And also this study helps the financial institution for adopting new policies and making corrections in the existing rates etc. STATEMENT OF THE PROBLEM: The current emerging market scenario the Govt. of India and the concern state govt. are providing lot of assistance and support to the educated youths for empower them through self- employment. And introduced lot of projects and schemes like, Make in India, Start-Up India, Stand-Up India and Start-Up villages for generating more employment opportunity within the country. So the graduated youths hopes the entrepreneurial career is the safest in future. So the study attempt to investigate the attitude of the graduated youths towards entrepreneurship, a special reference with Idukki District. OBJECTIVES:  To investigate the attitude of different youths towards entrepreneurship.  To investigate whether graduated youths view entrepreneurship as a future career.  To identify the factors that can influence entrepreneurship intention of graduated youths.  To study the different types of perceived barriers faced by the youths while selection entrepreneurship as a carrier. METHODOLGY: The study entitled “A study on the attitude of graduated youths towards entrepreneurship” used both the primary, and secondary data. Primary data is collected through well designed and structured questionnaire, from a sample size of 107 graduated and post graduated youths in different part of the Idukki District. Secondary data are collected from journals, texts books, articles, publications, and internet etc. convenience sampling method is used for this study. SCOPE OF THE STUDY: In this current scenario the central and the state Govt. are providing various assistance to the youths. There are various policies, schemes, projects are introduced by the central and the concerned state Govt. like Make in India, Start-up India, Stand-Up India, Skill India, and Start-Up villages etc. These policies and the schemes are formulated and introduced for empower the graduated youths and women empowerment. So this study was conducted with a special reference to Idukki-Dt. .
  11. 11. 3 LIMITATIONS OF THE STUDY:  The sample size is limited to only 107 respondents which constitutes small part of the total.  The study is only covered the Idukki District only.  Limited time for this study.  Some respondents are biased in answering the questions.
  12. 12. 4 SCHEME REPORT: Chapter I Introduction Chapter II Review of Literature Chapter III Analysis and Interpretation Chapter IV Findings and Suggestions Bibliography Appendix
  13. 13. 5 CHAPTER- II REVIEW OF LITERATURE AND THEORETICAL FRAMEWORK
  14. 14. 6 This study argues that social support is an important enabler in entrepreneurial activity in a country or a region. One untested assumption in policy making on entrepreneurship development has been that all regions are equally desirous of entrepreneurial activity and one policy could address issues in all regions. It was argued that graduated and post graduated youths attitudes towards entrepreneurs and entrepreneurship are important determinants for future entrepreneurial activity. These attitudes would be impacted by the family background of an individual and entrepreneurial development in the region an individual comes from. It was hypothesized that more positive attitude would be seen in (i) people form entrepreneurial backgrounds, and (ii) entrepreneurially more developed regions. 2.1 REVIEW OF LITERATURE: (Goel)This study argues that social support is an important enabler in entrepreneurial activity in a country or a region. One untested assumption in policy making on entrepreneurship development has been that all regions are equally desirous of entrepreneurial activity and one policy could address issues in all regions. It was argued that societal attitudes towards entrepreneurs and entrepreneurship are important determinants for future entrepreneurial activity. These attitudes would be impacted by the family background of an individual and entrepreneurial development in the region an individual comes from. It was hypothesized that more positive attitude would be seen in (i) people form entrepreneurial backgrounds, and (ii) entrepreneurially more developed regions. These hypotheses were tested on more than 5,000 respondents in India and China. The results for family background’s influence on attitudes found strong support in both India and China. Regional development showed stronger influence on attitude in India than in China. The findings and implications for studying attitudes and policy making are discussed. The results of this study are sufficient to argue that entrepreneurship is influenced by the past activities in the target region. Simple announcement of concessions and other policies may not lead to entrepreneurial activity unless people are convinced about becoming entrepreneurs. The comfort level comes from exposure, presence of role models, a vibrant economy which is able to absorb risks and encourage risk-taking etc. Therefore, existing entrepreneurs in the area would be a good source of motivation for people who would be interested in entrepreneurial activity. (Abhishek Goel): Activity in a country or a region. One untested assumption in policy making has been that all regions are equally desirous of entrepreneurial activity and one policy could address issues in all regions. It was argued that attitudes towards entrepreneurs and entrepreneurship are important determinants for future entrepreneurial activity. These attitudes would be impacted by the familial occupational background of an individual and entrepreneurial development of the region which he/she comes from. It was hypothesized that more positive attitude would be seen in (i) people form entrepreneurial backgrounds, and (ii) entrepreneurially more developed regions. These hypotheses were tested on more than 5,000 respondents in India and China. The results for
  15. 15. 7 familial occupational background’s influence on attitudes found strong support in both India and China. Regional development showed stronger influence on attitude in India than in China. The findings, issues around measurement of attitudes in cross-cultural study, and implications for policymaking are discussed. Entrepreneurship and small business creation are cornerstones of economic Development throughout the world. Entrepreneurial development today has assumed special importance, since it is a key to economic development. The impact of entrepreneurship education has been recognized as one of the crucial factors that help youths to understand and foster an attitude toward entrepreneurship. Management education provides a great potential for the establishment of new, small businesses. There is huge opportunity for developing management graduates as entrepreneurs. However, this potential is not exploited to its full extent. The purpose of the research is to examine management student's attitudes towards entrepreneurship, as well as their views of entrepreneurship as career option and interest in entrepreneurial training. This study was conducted in selected districts of North Karnataka. A total of 200questionnaires were sent to Management students and 152 students ware responded. The research shows that majority of the respondents are having positive attitude towards the entrepreneurship. OBJECTIVES: To examine Management student’s attitudes towards entrepreneurship, as well as their views of entrepreneurship as career option and interest in entrepreneurial training. To determine the preference of professions among Management students. To know the perception of Management students on their entrepreneurial intentions. RESEARCH METHODOLOGY SAMPLING DESIGN: The sampling technique used in this study is probability sampling, simple random sampling technique is used. The sample unit is taken as students of management (MBA) studying in the First and second year of their graduation from the selected districts of North Karnataka. The total sample size is 152. The sample is collected from Management Institutions situated in North Karnataka (Bagalkot, Bijapur and Dharwad are chosen for the study). 26.3% of the respondents desired to be self-employed and 9.2% of the respondents wants to join family business. The research shows that majority of the respondents are having positive attitude towards the entrepreneurship. Majority of the respondents felt that entrepreneurs take excessive risk. Hence, a
  16. 16. 8 consensus was found in support to the statement "Entrepreneurship is for people who have courage and ideas" Majority of the respondents viewed that major Endogenous barriers for becoming entrepreneur are their current life situation, fear of tough competition, lack of a business idea, fear of debt, insecure income, lack of professional skills and competence and entrepreneurs are excessively at the mercy of their investors. Major Exogenous barriers for entrepreneurship viewed by the respondents are lack of own financial resources, government policies, corruption, local infrastructure, getting Finance and bureaucracy. It is interesting to note that 93.4% of the respondents are ready to undergo the Entrepreneurship Development Programme. Respondents opine that the EDPs must contain and give more stress on decision making skills, marketing skills, managerial skills, and project preparation skills. (Neumannstiftung)This baseline report has 5 Chapters. Chapter I introduces HRNS AF and the scope of this study. Chapter II describes the analytical framework underpinning the study. Chapter III covers empirical findings of this study and related discussions. Data Collection and Analysis This baseline study utilizes in-house resources in order to minimize costs on data collection. The Field Officers serve as enumerators during the study. Besides the accruing cost advantage nearly all Field Officers have a good understanding of the local area, have no language barriers, and have already established rapport with the local communities. Before the enumerators are sent out into the field, they are taken through the instrument, which they reflect upon, discuss, and give their input or comments, which is subsequently incorporated where necessary. This does not only make the enumerators comfortable with the tool but also makes the tool more relevant to the benefit of those directly interfacing with youth that are interviewed. Field team is800/ composed of Samuel Muwanga, Patrick Muhumuza, Sarah Nabulobi and Joseph Kawuki. The collected data are keyed in by Phiona Uringi and analyzed by NicholasKabare using SPSS software. From the results realized in this baseline survey it is clear that the sensitization phase of the Project was very successful. The baseline survey that was done after the sensitization process aimed to capture the attitudes of the youth that have accepted to participate in the project. As a result of the positive attitude observed, two recommendations are:
  17. 17. 9 an area outside the CFAU project area. This is important as a validation test for the very positive impression observed within the project area. subsequent annual surveys, the same youth interviewed during the baseline study will be re-interviewed and comparisons done to the baseline situation. The Performance Management Framework will be updated with the baseline values. After the current students graduate Tracer studies will be done alongside the household survey to see what changes occur. Table 2 shows a tentative timeline for performance measurements as discussed during the initial project visit by Dr. Batliner. Mrs. Grace Wachera Njogu: There have been several promises made in favor of the youth in Kenya including ksh.1 billion Fund and a fully-fledged ministry which were among the items on the Kenyan youth achievement list (Guchu Ndung’u, 2006). Youth employment international summit (YES) resolutions coupled with NARC illusory pre-election pledge of 500,000 jobs still fresh in our memories, let alone the job discrimination in the name of prior years” experience as a prerequisite for employment. Purpose of study was to establish how various factors affect the youth’s habits towards entrepreneurial opportunities in Kenya. The paper aims at capturing different views that youth hold as regard the variables of interest. From the findings, study concludes that entrepreneurship has a generally wide recognition and acceptance amongst the youth and that majority of the youth have a high preference for entrepreneurship. Given a chance, they most probably will indulge in own businesses venture. The researcher used descriptive research design in investigating the impact of entrepreneurship and entrepreneurial opportunities on youth more so on university students. Cooper and schidler (2003) indicated that a descriptive study aims at finding out who, what, where and how of phenomenon as a descriptive study. This design was used as it entails a complete description of situation thus limiting the levels of biasness in the collection of data and eventual reduction of errors in the interpretation of the data collected. This method was based on the fact that it best explored variables involved in the study, Gejunda (1981) points out that description depicts the present position of a given situation and that it goes beyond mere collection and tabulation of data. The design enabled the researcher to gather data from a wide range of respondents. Recommendation More emphasis needs to be put in place on employing with respect to merit and qualifications. Although networking in itself is not a vice, it should be ensured that youth get equal opportunities irrespective of their background. With the increased need for knowledge and education, however youths should not just pursue educational qualifications at the expense of practical exposure. Entrepreneurship is always considered as a fallback option in any economy. Economics are guaranteed prosperity with emphasis on entrepreneurial activities and in particular by engaging the youth to venture in entrepreneurship. Government should put in place policies alongside setting
  18. 18. 10 up institutions to facilitate youth to engage in entrepreneurial activities. in the carrying out of the study the researcher found that there lacked workable policies and supporting institutions for the youth to rely on in order to set up businesses. It is thus a hope for many that the government involves itself fully in youth entrepreneurial motivation. The government should set aside more funds to support the economic activities the youth in different sectors of the economy. This will help to meet financial needs of a greater percentage of the youth. When the funds are made available, there should be initiative to ensure that proper awareness is created to inform the form the youth on the availability of funds. Available funds should be made as accessible as possible; this can be done by ensuring that the funds are distributed at the lowest possible administrative level for the youth in remote areas to get the funds. The distribution of funds should be properly authorized to ensure that the funds are distributed equitably to the youth. Financial institutions can offer lower interest rates to the youth who wish to borrow funds from them. (Guthrie)The purpose of the Rural Youth Entrepreneur Project is to investigate and describe the role of agricultural education as an agent of community development in rural areas. A sample of FFA American Farmer Degree recipients provided responses to questions regarding their experiences in entrepreneurship and relationships between that experience and current career and area of residence. The study showed large numbers of migration out of rural areas as a result of lack of employment opportunities and the desire among entrepreneurs for a more developed curriculum that focuses specifically on business and financial aspects of entrepreneurship as well as encourages a stronger connection with and understanding of the service needs of the rural community. An emphasis on this curriculum within agricultural education would provide better opportunities to discourage migration of educated youth out of rural communities and encourage community development within rural areas. The design selected for this project was the One-Shot Case study. As illustrated below, the “X” or variable of interest involves the experiences of individuals as high school agricultural education students and FFA members. Recollections of these experiences were obtained through the use of a mailed survey instrument or an online survey instrument, represented by “O.” Recommendations The conclusions of this research suggest several recommendations. The proposal recommended by researcher is to include a separate entrepreneurial curriculum within the classroom component of a total program. The curriculum would be designed as an organized plan that specifies what is to be taught in terms of clear, definable standards of what the student should know and be able to do. The curriculum could be drafted based on information generated through this research study and could also be tied into Supervised Agricultural Experiences. Areas emphasized within the curriculum may include more detailed curriculum on the topics/activities that most impacted success in entrepreneurship as well as current careers of responders to this study. Topics for
  19. 19. 11 inclusion may contain an enhanced section on public speaking; a segment with a more in-depth ownership approach to record keeping that includes lessons in financial record keeping and taxes; practical lessons on borrowing, interest and debt; and a piece that involves encouraging students to perform market research within their communities in order to possibly seek out enterable markets. This would include encouraging students to distinguish distinctive community needs for services and focusing on these needs or developing niche markets for entrepreneurship. It would also be effective to encourage teachers/advisors in their support roles for students. If necessary, an enhanced level of support from community members and family members and those involved with students’ SAEs could be created. This would come from the teacher/advisor/program level and might include an increased number of events and involvement within the individual community, mentorships, and/or possibly a section within the curriculum that brings in speakers from the surrounding community to discuss their experiences and success within that particular community. Many of the responders mentioned the importance of networking and contacts within their entrepreneurial SAEs and their current careers, so components such as those mentioned above could increase success from a multi-fold approach: increasing contact within the community, opening doors to mentorships and support, and expanding knowledge about what each individual community needs and can provide and what businesses may be successful within each community. Recommendations such as these can be expanded upon or individualized to meet each program’s needs. (Rikwentishe)The aim of this study is to examine the cognitive, affective, and behavioural components of students’ attitude and to examine the overall attitude of students towards Entrepreneurship education in Nigerian universities. The respondents were students from five selected universities in north eastern Nigeria Purposive sampling was used in selection of the universities, while simple random sampling was employed in selection of the respondents. The instrument used was structured questionnaire based on Liket scales ranging from strongly agree to strongly disagree on four points. Four hundred questionnaires were distributed, but only three hundred and seventy five were successfully retrieved and analyzed. SPSS version 16 was used in the analysis of the data. The study falls within the domain of descriptive study. The results indicated that the students cognitive component of attitude is rated at 84.31%, affective at83.34%, while behavioural component at 78.72%. The overall attitude is at 82.12%. The study has the following objectives:  To examine the cognitive component of students attitude towards Entrepreneurship education:  To examine the affective component of students attitude towards Entrepreneurship education:
  20. 20. 12  To examine the behavioral component of students attitude towards Entrepreneurship education:  To examine the overall attitude of students towards Entrepreneurship education Methodology Descriptive survey research method was used for this study utilizing frequency and simple percentage. The sample for this study is undergraduate students drawn from five Universities in North East geopolitical zone. This is because all undergraduate students are offering Entrepreneurship Education course from the Division of General Studies of the respective universities. Purposive sampling was employed to select five Universities. The reasons for using this method is to compose a sample that has federal (UNIMAID and ATBU) and state (ADSU and GSU) Universities. Secondly, is to involve conventional (UNIMAID, ADSU and GSU) and special University (ATBU). Thirdly, to involve private University (AUN), and fourthly, is because the Universities are spread across the study area with exception of Yobe and Taraba states that are having infant Universities. Simple Random Sampling was used to select four faculties and respondents. The sample size for this study is four hundred. The respondents were collected proportionally from the five selected Universities. The instrument for data collection was questionnaire adopted from the work of Mc Stay (2008) with modifications. The questionnaire was divided into four main sections. The first section is about demographic characteristics of the respondents. The second section measured cognitive component of attitude. Third section measured affective component of attitude, while the fourth section measured the behavioural component of attitude. Structured questionnaire and Likert scale was used. The responses ranges from strongly agree to strongly disagree (4 point scale). Four hundred questionnaires were administered and 375 were successfully retrieved and analysed. The Statistical Package for Social Sciences (SPSS version 16) was used in the analysis of the collected data. The results indicated that the overall attitude of students is 82.12%. That means they hold strong positive attitude towards entrepreneurship education. Students with strong positive attitude tend to interpret that going into entrepreneurial activities is feasible and hence desirable. This has agreed with the findings of Mitchell et al (2002), Bird (1988), Shapero and Sokol (1982). Furthermore, the findings of Ajzen (1991) agreed with this result, where if students perceive that entrepreneurship and its education will help them in achieving their goals, they tend to develop positive attitude towards it. These results also agreed with the findings of Ifedili and Ofogbu (2011), where students indicated 81% positive attitude toward entrepreneurship education. It also agreed with the finding of Veciana (2000), which shows the level of students’ attitude at92.2%. Same with the findings of Cheung and Chan (2011) indicated positive attitude of 90%. The research findings of Keal (2011) responded with 75.4% positive attitude. A more favourable
  21. 21. 13 attitude would increase the intention of students to become entrepreneurs. Similarly these findings also concurred with the findings of Peterman and Kennedy (2003), Dimitriva et al (2012), (2006), Trenan et al (2003), Len and Wong(2003) and Teixeira et al (2008), Where the empirical research findings revealed positive relationships between offering entrepreneurship education course and students attitude. (Velusamy)The objective of the current paper is to identify the students’ attitudes and intentions toward entrepreneurship, Entrepreneurship is considered as engine of economic growth. That plays great role in the economic growth and development of the country, more so in a rapidly developing country like India. Entrepreneurship development today has assumed great significance as it is a key to economic development. Entrepreneurs are the seed of industrial development and its fruits are greater employment opportunities, increase in per capita income, higher standard of living and balanced regional development. The current paper attempts to review and analyse the empirical studies undertaken to find out the entrepreneurial intention among university students and find out the factors influencing their decision to venture in entrepreneurship. (Aboobaker)Social entrepreneurship has emerged as a pioneering advance towards dealing with multifaceted social needs, especially in the face of diminishing public funding. India is a country of young, with 430 million people in the age range of15-34 and estimates confirm that by 2020, youth will comprise of 64% of India's working population. Nurturing entrepreneurship among students has become an imperative focus for universities, government agencies and research academicians as well. A sample of 164 students from various streams of study, were taken and data was collected using Likert scale, indicating their level of agreement or disagreement with a series of statements relating to a potential entrepreneur’s sociological capital, in his or her sphere of social connection in family, social, professional and recreational networks, entrepreneurial role models and supporting networks. The results of the empirical study showed that Professional and Recreational networks, followed by Strength of family network showed the most statistically significant influence in contributing towards Entrepreneurial Sociological Capital. Gender was a significant factor in determining one’s Entrepreneurial Sociological Capital, with males scoring higher than female counterpart. Monthly income of parents and household asset position had no significant relationship in determining entrepreneurial sociological capital. Management postgraduates scored more than non- management students on Sociological Capital. The study emphasize the importance of building and sustaining social relationships and thus social capital among potential entrepreneurs, by including entrepreneurial development programs as part of curriculum, among non-management student too.
  22. 22. 14 IV. OBJECTIVES OF THE STUDY 1. To assess the entrepreneurial sociological capital among post graduate management and non- management students in Kerala. 2. To identify if social connections in diverse groups, contribute differently towards entrepreneurial sociological capital. 3. To identify if strength of social connections differ among post graduate management and non- management students in Kerala. 4. To explore the demographic factors that influence entrepreneurial sociological capital among post graduate management Students in Kerala V. RESEARCH METHODOLOGY The study is primarily descriptive in nature. Data was collected from among post graduate management students pursuing MBA degree and non-management students comprised of those pursuing post graduate arts courses- MSc. Chemistry, MSc. Physics, MSc. Maths, M.A Hindi and M.A Economics, at Cochin University of science and technology (CUSAT) campus, Kerala, India. The purpose of the current study was to assess the level of Entrepreneurial Sociological Capital among post graduate management and non-management students in Kerala, India. The study revealed that management students possessed higher social capital that students from arts and science streams. The study emphasize the importance of building and sustaining social relationships and thus social capital among potential entrepreneurs, as social networks provided by extended family, community-based, or organizational relationships are theorized to complement the effects of education, experience, and financial capital. Having parents and/or close friends or neighbours in business, as well as encouragement from friends and family, was strongly associated with probability of entry. As the study reveals, professional and recreational networks contribute the most towards social capital. Efforts should be taken to orient communication applications such as social media, towards building, fostering and sustaining effective professional relationships. Mentoring programs, as initiated by academic institutions will prove fruitful. Social entrepreneurs are change agents for the social sector and exist to promote the finest promising life for all, hence their advancement is in the interest of society and Government alike. (Dr. Manisha)Entrepreneurship as an area of importance has risen multi fold over the last few decades around the world and in the last couple of decades in India. Entrepreneurship has become an everyday buzzword. Policymakers, economists, academics and even university students are talking about it. Seminars, conferences and workshops are being organized every year across the
  23. 23. 15 world which emphasized on the importance of entrepreneurship to country, society as well as for the individual development. Today, there is a big question raised in the minds of the management students i.e. “Which way to go” either to go organizational development or to opt entrepreneurship as a career. It has been well recognized that the career choice is a very complicated & multifaceted process and will play a very important role in the life and development of students. To give a deep insight to answers these questions the current study is also discuss about the students’ attitude towards Entrepreneur. What types of barriers they are facing while selecting entrepreneur as a career. RESEARCH METHODOLOGY Present study is exploratory cum descriptive in nature. The sample size is 100 respondents. Data were collected from the MBA and BBA students of DCRUST, Murthal; in Sonipat city. Respondent’s participation was voluntarily & completely anonymous. Only those MBA & BBA students are consulted who are pursuing their Corse & doesn’t include those students who have passed out. OBJECTIVES OF THE STUDY 1. To assess the attitudes of students towards entrepreneurship. 2. To study the different types of perceived barriers faced by the students while selection entrepreneurship as a carrier. The purpose of this chapter was to conclude this empirical study that investigated the students’ attitudes towards entrepreneurship in Sonipat city. A detailed background information and the description of the university student in Sonipat is outlined and following aspects are included: The biographical information of the higher education students included gender, age group, parent’s monthly income, parents’ education, parents owning a business, position’s in family. Today, there is a big question raised in the minds of the management students i.e. ―Which way to go‖ either to go organizational development or to opt entrepreneurship as a career. It has been well recognized that the career choice is a very complicated & multifaceted process and will play a very important role in the life and development of students. To give a deep insight to answers these questions the current study is also discuss about the students’ attitude towards Entrepreneur. What types of barriers they are facing while selecting entrepreneur as a career. Finally, the empirical study assisted in the formulation of conclusions and recommendations to the development of strategies for campus entrepreneurship and overall youth entrepreneurship development in Sonipat district. That is followed by a critical evaluation of the study with regards to the achievement of the research objectives. Suggestions for future studies were also presented.
  24. 24. 16 (Dr. Norman Rudhumbu)The study examined the attitudes of undergraduate fourth year students towards entrepreneurship education. Studies show that entrepreneurship has become a critical area of discussions the world over due its perceived role in mitigating the twin challenges of shrinking economies and unemployment. A sample of 250 students from a population of 462 students was used in the study. A structured questionnaire that employed a 5-point Likert scale was used for data collection. Results of the study showed that most students have a positive attitude towards entrepreneurship education and would prefer to be entrepreneurs at the end of their studies. Results of the study further showed that challenges that may affect students’ interest in entrepreneurship education and entrepreneurship as a career include difficulty in accessing funding, lack of technical support at start-up, and inadequate business opportunities in Botswana. Objectives of the Study • To investigate the attitude of students towards entrepreneurship education. • To examine how demographic characteristics of students influence students attitude towards entrepreneurship education. • To investigate whether students view entrepreneurship as a future career. • To identify factors that influence entrepreneurship intentions of students. This study employed a descriptive research design that uses a survey strategy for data collection. A descriptive researches all about describing people who take part in the study so as to provide information about the naturally occurring status, behaviour, attitudes or other characteristics of a particular group (Kowalczyk, 2015). The major reason why a descriptive survey was selected for this study was to enable the researchers to capture views from a large cross section of the population of respondents thus ensuring that a variety of ideas whether conflicting or agreeing on the attitudes of students towards entrepreneurship education, are included in the study. Based on the above conclusions, there are a number of recommendations that can be made. First, lecturer’s teaching entrepreneurship education need to be more specific on the sources of finance available to students and how exactly they can access these funds. Second, and as a follow-up to the above recommendation, lecturer’s teaching entrepreneurship need to invite, as part of teaching, members from institutions that provide loans for start-up business, to come and address students on the technicalities involved in the successful application for loans. Third, more needs to be done by lecturers to help students become more able to identify business opportunities. In this regard, more of case studies can help. Fourth, as part of teaching entrepreneurship education, lecturers need to make the teaching more practical by linking students with institutions that are known to provide technical start-up support so that before the students complete the course they are aware of these institutions and how to use them when they need information about how to start and run
  25. 25. 17 their businesses. Fifth, institutions need to come up with data bases of students who were able to start their own businesses so that they can monitor and provide technical support where needed. (Venesaar)The objective of the current paper is to identify the students’ attitudes and intentions toward entrepreneurship, their personal characteristics and future plans in connection with entrepreneurship. The results of the empirical study are brought to evaluate the preparation of bachelor Programme graduates and master students from Tallinn University of Technology (different specialties) for starting with entrepreneurship. The Likert scale is used for measurement of students’ attitudes based on their own opinions about motivations to start in business, the statements about their entrepreneurial characteristics and behavioural habits connected with business relations and organizations. In this context, the opinions of respondents about the obstacles met in starting a business and possible support needs are also (Rikwentishe)among students. The research results showed that despite a considerable share of respondents thinking about entrepreneurship, most of them do not want to start business after graduation, but postpone this to a more distant future. Based on the students’ previous thoughts about and connections with entrepreneurship, or their plans for the future, we can identify differences in the motives to start a business (e.g. ambition for freedom, self-realization, and pushing factors), as well as in personal characteristics, skills to participate in business relations and behaviour in organization. The personal characteristics and behaviour typical of entrepreneur are correlated positively with the intention to start a new venture in the near future. However, we can also find some exceptions and interesting connections based on the student’s status, specialty (economic or technical specialties) and degree of study. The paper seeks to provide clarification so as to understand these differences, as well as suggestions for increasing the role of universities in developing students’ entrepreneurial behaviour and improving entrepreneurship policies in order to stimulate entrepreneurial initiative among students.
  26. 26. 18 REFERENCE: Abhishek Goel, Neharika Vohra. Attitudes of the Youth towards Entrepreneurs and Entrepreneurship: A Cross-cultural Comparison of India and China. Ahemdabad: Unitedworld School of Business, 2007. Aboobaker, Nimitha. “Entrepreneurial Sociological Capital among Postgraduate Management and Non- Management students in Kerala, India.” International Journal of Advance Research in Computer Science and Management Studies (2015): 42. Abraham, M.M. Entrepreneurship Development and Management. Changanachery: Prakash Publications, 2002. Desai, Vasant. Small scale industries and Entrepreneurship. Hydrabad: Himalaya Publishing house, 2002. Dr. Manisha, Ms. Reena Kumari Singh. STUDENTS ATTITUDES TOWARDS ENTREPRENEURSHIP. New Delhi: India International Cetre, 2016. Dr. Norman Rudhumbu, Douglas Svotwa, Dr. Takaruza Munyanyiwa andMorgen Mutsau. “Attitudes of Students towards Entrepreneurship Education at Two Selected Higher Education Institutions in Botswana: A Critical Analysis and Reflection.” Academic Journal of Interdisciplinary Studies (2016): 1-2. Goel, Abhishek. Attitudes of the Youth towards Entrepreneurs and Entrepreneurship. AHMEDABAD INDIA: INDIAN INSTITUTE OF MANAGEMENT , 2007. Guthrie, Mattie Joanne DeRose. “The Rural Youth Entrepreneur Project.” 2013. Neumannstiftung, Hanns R. “Youth and Education.” 2013. Peters, Robert D. Hisrich and Michael P. Entrepreneurship. New delhi: Tata McGraw-HillsPublishing Company Limited, 2002. Rikwentishe, B. M. Pulka R. “An Evaluation of Students’ Attitude towards Entrepreneurship.” Global Journal of Management and Business Research: A (2014): 1-2. Stevenson, William A. Sahlman Howard H. Entrepreneurial Venture. Boston, Massachusetts: Harvard Business School Publications, 1992. Velusamy, Arunkumar. “Students attitude and intentions towards entrepreneurship in india .” 2014. Venesaar, Urve. “Students’ Attitudes and Intentions toward Entrepreneurship at Tallinn University of Technology.” 2016.
  27. 27. 19 2.2 THEORITICAL FRAMEWORK: Introduction: Entrepreneurship plays an eminent function in creating an avenue for employability for rural communities, providing self-employment for those who have started-up a business of their own and enhancing the economic status of the rural sector as well. Entrepreneurship has transformed many entrepreneurs into successful business persons and generated income for rural communities. Entrepreneurs in rural area have transformed their vicinity into trading hubs thus enabling them to become urbanized areas. Entrepreneur is an Economic Agent who plays a vital role in the economic development of a country. Economic development of a country refers steady growth in the income levels. This growth mainly depends on its entrepreneurs. An Entrepreneur is an individual with knowledge, skills, initiative, drive and spirit of innovation who aims at achieving goals. An entrepreneur identifies opportunities and seizes opportunities for economic benefits. Entrepreneurship is a dynamic activity which helps the entrepreneur to bring changes in the process of production, innovation in production, new usage of materials, creator of market etc. It is a mental attitude to foresee risk and uncertainty with a view to achieve certain strong motive. It also means doing something in a new and effective manner. DEFIITION OF ENTREPRENEURSHIP: According to A.H Cole “Entrepreneurship is a powerful activity of an individual or group of associated individuals, undertaken to initiate, maintain or aggrandize profit by production or distribution of economic goals or services.” According to Peter F Drucker “Entrepreneurship is neither a science nor an art. It is a practice. It is knowledge base. Knowledge in entrepreneurship is a means to an end, that is, by the practice. Entrepreneurship at 17th Century Entrepreneurship at 17th Century The connection of risk with entrepreneurship emerged during the 17th century. An entrepreneur was perceived as a person who entered into a contractual arrangement with the government to perform a service or to supply stipulated products. Since the contract price was fixed, any resulting profits or losses were the entrepreneur’s. One entrepreneur
  28. 28. 20 in this period was John Law1, a Frenchman, who was allowed to establish a royal bank. (Will and Ariel Durant, 1965 p13) The bank eventually evolved into an exclusive franchise to form a trading company in the new World, the Mississippi Company. Richard Cantillion, a noted economist and author in the 1700s, understood Law’s intention and developed one of the early theories of the entrepreneur and he is regarded by some as the originator of the term. He viewed the entrepreneurs as risk takers, observing that merchants, farmers, craftsmen, and other sole proprietors “buy at certain price and sell at an uncertain price, therefore operating at risk” (Burr Ridge and Richard D Irwin, 1985) Entrepreneurship at 18th Century In the 18th century, the person with capital was differentiated from the one who needed capital. In other words, the entrepreneur was distinguished from the capital provider (the present day venture capitalist). One reason for this differentiation was the industrialization occurring throughout the world. Many of the inventions developed during this time were reactions to the changing world, as was the case with the inventions of Eli Whitney2 and Thomas Edison3 (Lakwete, Angela. 2004; Albion, Michele Wehrwein. 2008). Entrepreneurship at 19th and 20th century In the late 19th and early 20th centuries, entrepreneurs were frequently not distinguished from managers and were viewed mostly from an economic perspective. Richard T. Ely and Ralph H. Hes, briefly stated: The entrepreneur organizes and operates an enterprise for personal gain. He pays current prices for the materials consumed in the business, for the use of the land, for the personal services he employs, and for the capital he requires. He contributes his own initiative, skill, and ingenuity in planning, organizing, and administering the enterprise. He also assumes the chance of loss and gain consequent to unforeseen and uncontrollable circumstances. The net residue of the annual receipts of the enterprise after all costs have been paid, he retains for himself. Joseph Schumpeter’s vision on entrepreneurs is as follows: The function of the entrepreneur is to reform or revolutionize the pattern of production by exploiting an invention or, more generally, an untried technological method of producing a new commodity or producing an old one in new way, opening a new source of supply of materials or a new outlet for products, by organizing a new industry.
  29. 29. 21 History of Entrepreneurship in India: The history of entrepreneurship is important worldwide, even in India. In the pre-colonial times the Indian trade and business was at its peak. Indians were experts in smelting of metals such as brass and tin. Kanishka Empire in the 1st century started nurturing Indian entrepreneurs and traders. Following that period, in around 1600 A.D., India established its trade relationship with Roman Empire. Gold was pouring from all sides. Then came the Portuguese and the English. They captured the Indian sea waters and slowly entered the Indian business. They forced the entrepreneurs to become traders and they themselves took 8 the role of entrepreneurs. This was the main reason for the downfall of Indian business in the colonial times which had its impact in the post-colonial times too. The colonial era make the Indian ideas and principles rigid. A region of historic trade routes and vast empires, the Indian subcontinent was identified with its commercial and cultural wealth for much of its long history. Gradually annexed by the British East India Company from the early eighteenth century and colonized by the United Kingdom from the mid-nineteenth century, India became an independent nation in 1947 after a struggle for independence that was marked by widespread nonviolent resistance. It has the world's twelfth largest economy at market exchange rates and the fourth largest in purchasing power. Economic reforms since 1991 have transformed it into one of the fastest growing economies however, it still suffers from high levels of poverty, illiteracy, and malnutrition. For an entire generation from the 1950s until the 1980s, India followed socialist-inspired policies. The economy was shackled by extensive regulation, protectionism, and public ownership, leading to pervasive corruption and slow growth. Since 1991, the nation has moved towards a market-based system. 15 Entrepreneurship is the result of three dimensions working together: conducive framework conditions, well-designed government programmes and supportive cultural attitudes. Across these three perspectives of entrepreneurship, two major conclusions are apparent. Firstly, the economic, psychological and sociological academic fields accept that entrepreneurship is a process. Secondly, despite the separate fields of analysis, entrepreneurship is clearly more than just an economic function. Concepts & Characteristics of Entrepreneurship:  Interest and Vision The first factor for entrepreneurial success is interest. Since entrepreneurship pays off according to performance rather than time spent on a particular effort, an entrepreneur must work in an area that interests her. Otherwise, she will not be able to maintain a high level of work ethic, and she will most likely fail. This interest must also translate into a vision for the company's growth. Even
  30. 30. 22 if the day-to-day activities of a business are interesting to an entrepreneur, this is not enough for success unless she can turn this interest into a vision of growth and expansion. This vision must be strong enough that she can communicate it to investors and employees.  Skill All of the interest and vision cannot make up for a total lack of applicable skill. As the head of a company, whether he has employees or not, an entrepreneur must be able to wear many hats and do so effectively. For instance, if he wants to start a business that creates mobile games, he should have specialized knowledge in mobile technology, the gaming industry, game design, mobile app marketing or programming.  Investment An entrepreneur must invest in her company. This investment may be something less tangible, such as the time she spends or the skills or reputation she brings with her, but it also tends to involve a significant investment of assets with a clear value, whether they be cash, real estate or intellectual property. An entrepreneur who will not or cannot invest in her company cannot expect others to do so and cannot expect it to succeed.  Organization and Delegation While many new businesses start as a one-man show, successful entrepreneurship is characterized by quick and stable growth. This means hiring other people to do specialized jobs. For this reason, entrepreneurship requires extensive organization and delegation of tasks. It is important for entrepreneurs to pay close attention to everything that goes on in their companies, but if they want their companies to succeed, they must learn to hire the right people for the right jobs and let them do their jobs with minimal interference from management.  Risk and Rewards Entrepreneurship requires risk. The measurement of this risk equates to the amount of time and money you invest into your business. However, this risk also tends to relate directly to the rewards involved. An entrepreneur who invests in a franchise pays for someone else's business plan and receives a respectable income, while an entrepreneur who undertakes groundbreaking innovations risks everything on an assumption that something revolutionary will work in the market. If such a revolutionary is wrong, she can lose everything. However, if she is right, she can suddenly become extremely wealthy.
  31. 31. 23 Types of Entrepreneurs:  Innovative entrepreneurs: These entrepreneurs have the ability to think newer, better and more economical ideas of business organization and management. They are the business leaders and contributors to the economic development of a country. Inventions like the introduction of a small car ‘Nano’ by Ratan Tata, organized retailing by Kishore Biyani, making mobile phones available to the common may by Anil Ambani are the works of innovative entrepreneurs.  Imitating entrepreneurs: These entrepreneurs are people who follow the path shown by innovative entrepreneurs. They imitate innovative entrepreneurs because the environment in which they operate is such that it does not permit them to have creative and innovative ideas on their own. Such entrepreneurs are found in countries and situations marked with weak industrial and institutional base which creates difficulties in initiating innovative ideas. In our country also, a large number of such entrepreneurs are found in every field of business activity and they fulfill their need for achievement by imitating the ideas introduced by innovative entrepreneurs. Development of small shopping complexes is the work of imitating entrepreneurs. All the small car manufacturers now are the imitating entrepreneurs.  Fabian entrepreneurs: The dictionary meaning of the term ‘fabian’ is ‘a person seeking victory by delay rather than by a decisive battle’. Fabian entrepreneurs are those individuals who do not show initiative in visualizing and implementing new ideas and innovations wait for some development which would motivate them to initiate unless there is an imminent threat to their very existence.  Drone entrepreneurs: The dictionary meaning of the term ‘drone’ is ‘a person who lives on the labor of others’. Drone entrepreneurs are those individuals who are satisfied with the existing mode and speed of business activity and show no inclination in gaining market leadership. In other words, drone entrepreneurs are die-hard conservatives and even ready to suffer the loss of business.
  32. 32. 24  Social Entrepreneur: Social entrepreneurs drive social innovation and transformation in various fields including education, health, human rights, workers’ rights, environment and enterprise development. They undertake poverty alleviation objectives with the zeal of an entrepreneur, business practices and dare to overcome traditional practices and to innovate. Dr. Mohammed Yunus of Bangladesh who started Gramin Bank is a case of social entrepreneur. Functions of an Entrepreneur: 1. Innovation: An entrepreneur is basically an innovator who tries to develop new technology, products, markets, etc. Innovation may involve doing new things or doing existing things differently. An entrepreneur uses his creative faculties to do new things and exploit opportunities in the market. He does not believe in status quo and is always in search of change. 2. Assumption of Risk: An entrepreneur, by definition, is risk taker and not risk shirker. He is always prepared for assuming losses that may arise on account of new ideas and projects undertaken by him. This willingness to take risks allows an entrepreneur to take initiatives in doing new things and marching ahead in his efforts. 3. Research: An entrepreneur is a practical dreamer and does a lot of ground-work before taking a leap in his ventures. In other words, an entrepreneur finalizes an idea only after considering a variety of options, analyzing their strengths and weaknesses by applying analytical techniques, testing their applicability, supplementing them with empirical findings, and then choosing the best alternative. It is then that he applies his ideas in practice. The selection of an idea, thus, involves the application of research methodology by an entrepreneur. 4. Development of Management Skills: The work of an entrepreneur involves the use of managerial skills which he develops while planning, organizing, staffing, directing, controlling and coordinating the activities of business. His managerial skills get further strengthened when he engages himself in establishing equilibrium between his organization and its environment. However, when the size of business grows considerably, an entrepreneur can employ professional managers for the effective management of business operations.
  33. 33. 25 5. Overcoming Resistance to Change: New innovations are generally opposed by people because it makes them change their existing behavior patterns. An entrepreneur always first tries new ideas at his level. It is only after the successful implementation of these ideas that an entrepreneur makes these ideas available to others for their benefit. In this manner, an entrepreneur paves the way for the acceptance of his ideas by others. This is a reflection of his will power, enthusiasm and energy which helps him in overcoming the society’s resistance to change. 6. Catalyst of Economic Development: An entrepreneur plays an important role in accelerating the pace of economic development of a country by discovering new uses of available resources and maximizing their utilization. QUALITIES OF A SUCCESSFUL ENTREPRENEUR: 1. Successful entrepreneurs are ambitious. And how could they not be – you have to have ambition (and bucket loads of it!) in order to be a successful entrepreneur. This means that they actively seek out problems, and have the ambition to fix them. Doing so comes to them as a habit; it is their state-of-mind. Everyone doesn’t have this ambition, and this is one quality that defines an entrepreneur. 2. Successful entrepreneurs proactively find and seek-out opportunities. One of the thing that defines an entrepreneur is his/her ability to search for potential opportunities. Because that is what being an entrepreneur is all about: finding potential problems and opportunities, and providing real, tangible solutions to these problems. Identifying or discovering an opportunity comes naturally to them, and it is actually a big part of being an entrepreneur in the first place.
  34. 34. 26 .3. Successful entrepreneurs are focused, goal-oriented, disciplined, well-organized and meticulous. Getting a business running from the ground-up isn’t easy, and understandably so. The fact is that a small percentage of startups go on to survive beyond the first year and become big businesses, and hence only a small number of entrepreneurs really go on and make it big. Those who do have the discipline to follow their game-plan, and work on achieving their short- term and long-term goals and objectives. They are focused on ensuring that their businesses work. Now already a couple years old, they have built up their reputation by releasing wildly successful products like Thrive Leads and Thrive Content Builder. 4. Successful entrepreneurs are hard workers who love what they do. Successful businessmen love what they do. To them, work isn’t simply ‘work’, it’s their life! Successful entrepreneurs never look at it as their day-jobs their ‘9 to 5’s’ or ‘something that they do in the day’, their business is their life and they work extremely hard to accomplish their goals. That doesn’t mean that they are workaholics or are married to their jobs – they set boundaries, and know how to work hard and work smart! 5. Successful entrepreneurs are not afraid to take risks. Good entrepreneurs don’t fear taking risks, they take them on head-on. They have to take risks every day – it is part of running a business. The thing though about taking risks is that successful entrepreneurs take calculated risks, not foolish ones. This means that they weigh the pros and cons, of every decision that they face, take the advantages and disadvantages of every move into consideration, look at all possible outcomes and make a calculated and informed decision taking everything into consideration. Taking risks is part of the game, however taking calculated risks brings about a positive outcome most of the time, and when it doesn’t… 6. Successful entrepreneurs are not afraid to make mistakes, and face failure. In fact, they understand that it’s all a part of the game, and they use each and every failure and every mistake that they make as a learning experience. You’d be hard-pressed to find even a single entrepreneur who hasn’t made a bucketload of mistakes! The cold, hard truth is that every entrepreneur will end up making mistakes – some small and some big – and will fail numerous
  35. 35. 27 times. But each of these incidents will be a learning experience for a successful entrepreneur, and each of these instances will be an opportunity of him/her to emerge better and stronger. 7. Successful entrepreneurs have a knack for innovation and creativity. Successful entrepreneurs can usually be identified by their ambition to innovate – this involves developing new ideas, methods, processes, products, services, and above all, new solutions that meet new requirements and provide more value to stakeholders. Besides, a large part of being successful in business relies upon improvement and positive change, and all good entrepreneurs have the vision to be creative and innovative in order to bring about this sort of change and improvement. 8. Successful entrepreneurs know what it takes to be successful. They challenge themselves to learn more and do more. They understand that all businesses are affected by certain internal and external factors – some of which are out of their control or beyond their abilities. They understand these limitations, and either build their own capacity so that they can get what they need, or work with people with different expertise and experience in order to overcome these barriers. 9. Successful entrepreneurs have excellent role models. These role models are people that they aspire to be, people that they look up to, and people who provide them with inspiration and the guidance that they need to be successful. A role-model could be anyone – such as someone from within your social circles, friends or family, or a famous personality who they look up to (Steve Jobs, Michael Dell, Richard Branson, Bill Gates all come to mind here and are just a few examples). Having a role-model, especially if he or she is your mentor too, can really take an entrepreneur to unprecedented heights of success, make him truly unstoppable! 10. Successful entrepreneurs are leaders. That is perhaps the simplest way to put it: successful entrepreneurs are natural leaders, and possess many leadership qualities. They are good at managing all aspects of their professional and personal lives. They have the ability to make big decisions, and the right decisions.
  36. 36. 28 They can provide guidance and good opinions to others. They have good communication skills. They are people-oriented, and can get a group of people to work towards the attainment of a common goal while getting the best out of them. They are respected by their peers. They are self- motivated. Successful entrepreneurs are competitive. Factors influencing Entrepreneurship:  Personality Factors: Personal factors, becoming core competencies of entrepreneurs, include: (a) Initiative (does things before being asked for) (b) Proactive (identification and utilization of opportunities) (c) Perseverance (working against all odds to overcome obstacles and never complacent with success) (d) Problem-solver (conceives new ideas and achieves innovative solutions) (e) Persuasion (to customers and financiers for patronization of his business and develops & maintains relationships) (f) Self-confidence (takes and sticks to his decisions) (g) Self-critical (learning from his mistakes and experiences of others) (h) A Planner (collects information, prepares a plan, and monitors performance) (i) Risk-taker (the basic quality). Environmental factors: These factors relate to the conditions in which an entrepreneur has to work. Environmental factors such as political climate, legal system, economic and social conditions, market situations, etc. contribute significantly towards the growth of entrepreneurship. For example, political stability in a country is absolutely essential for smooth economic activity. Frequent political protests, bandhs, strikes, etc. hinder economic activity and entrepreneurship. Unfair trade practices, irrational monetary and fiscal policies, etc. are a roadblock to the growth of entrepreneurship. Higher income levels of people, desire for new products and sophisticated technology, need for faster means of transport and communication, etc. are the factors that stimulate entrepreneurship.
  37. 37. 29 Thus, it is a combination of both personal and environmental factors that influence entrepreneurship and brings in desired results for the individual, the organization and the society. Four entrepreneurial trends in India: insights from 2016 The year 2016 was indeed eventful. It was full of Black Swan events all through and of significant proportions, including the ones on November 8 and 9 of 2016. The great economist, Joseph Schumpeter, famously identified ‘creative destruction’ as the driving force of economic development and how entrepreneurs propel us from one inflection point to another. Such periods of massive creations that emerge from destructive forces of change are great opportunities for the entrepreneurs, for now, the incumbents are at their vulnerable lows. Here are five notable entrepreneurship trends in India from 2016. 1. Disruption The rapid rise of Paytm post demonetization, the reckoning of Xioami as China’s Apple, the ongoing problems with once venerable Samsung, the sale of Yahoo! at an indecent price, and the purchase of LinkedIn by Microsoft, are but a few instance of such creative destructions where the legends of past are trumped by the challengers from the new age. Some of these developments have pushed the researchers, managers, and laypersons alike to rethink of dictums hitherto held sacrosanct. For starters, how valuable is customer loyalty? Consumers did switch from Apple to Samsung, and no sooner to Xiaomi, similar to how Tesla is fast replacing Prius on American roads. Yahoo!, one of the most celebrated brands of the yesteryears and a true pioneer, failed to find buyers, and here you have WhatsApp securing a $19 billion deal from Facebook. Back home, customers didn’t mind ditching their MasterCards and Visas for seeking cashback on Paytm and no sooner getting used to the idea of scanning the QR code at their nearest grocery store. The QR code, exploited to the hilt by Paytm, is another example of an extremely frugal and effective innovation. Needless to talk about the results of the recent US election, where almost all pundits were proven wrong in a triumphant moment! Equally important is the realization that disruption can happen in low-tech industries too! The realization comes from one of the most remarkable stories of the year – the rise of Ramdev’s Patanjali. While disruption is mostly talked in the realm of high technology products, no one would have thought of a ‘desi’ firm giving a run for money to the likes of Unilever, Procter & Gamble, and Colgate-Palmolive, that too in their core product categories. But it’s all happening, and right here at the heart of urban India. The stories of Uber disrupting the rental car market, Airbnb doing it for hospitality, and Zoho for productivity tools for the SMEs, are all too common and known, but in low-tech, the instances are fewer. So, let’s not confuse innovation, especially the disruptive type, with high-end technology.
  38. 38. 30 2. Women entrepreneurship The rise of women entrepreneurs is another remarkable trend. From a time when women were mostly relegated to the household (read, homemakers) to being ‘suited’ for softer roles, such as HR and teaching, the women folks are eyeing serious business ventures, and often on their own. Women like Aditi Gupta of Menstrupedia, Richa Kar of Zivame, Ashwini Asokan of Mad Street Dan, Nidhi and Reshmi of Silver Talkies, and Gurleen Kaur of Hari Patti, amongst several others, are becoming role models alongside the legends of Kiran Mazumdar-Shaw and Shahnaz Husain for breaking the myths. Seeing the need for capability creation and celebration, recently, NSRCEL at IIM Bangalore joined hands with Goldman Sachs to educate and support women entrepreneurs. Remember, all these ladies are excelling in proverbially ‘male dominated’ fields or marginalised ones. 3. Beyond Tier 1 Along with the growing participation of women in the entrepreneurial setup, there is an unmistakable entrepreneurial traction in tier-II and tier-III towns of India. With pervasive and affordable communication and computation, and growing education levels in India’s hinterland, there are local enthusiasts keen to solve local problems. If Flipkarts and Olas can come up on the backdrop of Amazon and Uber, why can’t we have businesses in India’s hinterland inspired by the urban stories? The likes of Mera Gao Power that operates in the rural parts of Uttar Pradesh, and Husk Power System from Bihar have shown that sustainability can be an outcome when local problems meet ingenious (local) solutions. Much like reverse innovation, where solutions conceived in the East travel westwards, and the frugal and ingenious developments in rural India can address urban needs, or even create newer opportunities. 4. Education So much for the approaches and the outcome, but how about the enablers? The advent of MOOCs and a growing traction of courses and mentorship programmes on entrepreneurs indicates an emerging belief that entrepreneurship can be taught. From the times when businesses were thought to be a luxury for a few and necessity for many, it is fast becoming a matter of choice and even ambition. Increasingly, graduates from engineering colleges and management schools are opting out of placements and venturing on their own while being equipped with knowledge and pedigree. Globally, top B-Schools offer MBA programmes for entrepreneurs and are witnessing a serious traction. Back home, the NSRCEL at IIM Bangalore sees a growing interest in mentoring; institutes are offering MBA programmes on managing the family business, and on innovation and entrepreneurship, alongside the classic MBA programmes. All this is happening while scarce funds meet unabated enthusiasm in several parts of India.
  39. 39. 31 To sum up, we are living in exciting times where starting a business, regardless of your gender, educational or ethnic background, location, or even age, is increasingly possible. With access to digital technologies and ideas, enablement and active support from governments for startups, and growing number of role models around us, starting up is truly in. May the coming decade belong to self-starting dreamers who execute their ideas and show a way.
  40. 40. 32 CHAPTER III DATA ANALYSIS AND INTERPRETATION
  41. 41. 33 3.1 GENDER Gender Frequency Percentage Male 68 64 Female 39 36 Total 107 100 (Source: Primary Data) 3.1 GENDER The above table and diagram shows that the date is collected from 68 males (64%) and 39 Female (36%) graduated youths in various part of the Idukki District. Male 64% Female 36% Male Female
  42. 42. 34 3.2 Qualification of the respondents Qualification Frequency Percentage Under Graduates 44 41 Post Graduates 63 59 Total 107 100 (Source: Primary Data) 3.2 Qualification of the respondents The above table and the diagram shows that, out of 107 respondents 44 are Under Graduates and 63 Post Graduated Youth in various part of the Idukki-Dt. for this study. 41% 59% Under Graduates Post Graduates
  43. 43. 35 3.3 DEPARTMENT OF THE RESPONDENTS Department Frequency Percentage Commerce 45 42 Management 41 37 Science 7 7 Engineering 7 7 Others 7 7 Total 107 100 (Source: Primary Data) 3.3 COURSES OF THE RESPONDENTS The table and the diagram 3.3 shows that 42% of the total respondents are commerce graduates and Post Graduates. 37 belongs to the Management stream and 7% each belongs to the Science, Engineering, and other stream. 45 41 7 7 7 0 5 10 15 20 25 30 35 40 45 50 Commerce Management Science Engineering Others
  44. 44. 36 3.4 AWARENESS OF RESPONDENTS ABOUT THE BUSINESS Frequency Percentage Highly 33 31 Moderately 66 62 Low 8 7 Total 107 100 (Source: Primary Data) 3.4 AWARENESS OF RESPONDENTS ABOUT THE BUSINESS The table and the diagram 3.4 clearly shows that 62 % of respondents are moderately aware about the Business. And 31% of respondents are highly aware about the business, whereas 7% of respondents only having low level of awareness about the business. 33 66 8 0 10 20 30 40 50 60 70 Highly Moderately Low
  45. 45. 37 3.5 Interest of the respondents to commence a new business Frequency Percentage Interested 97 91 Not Interested 10 9 Total 107 100 (Source: Primary Data) 3.5 Interest of the respondents to commence a new business The table and the diagram 3.5 is shows that the 91% of graduated youths in different departments are showing keen interest to commence new business, whereas 9% of graduated youths are negative attitude towards this statement. Interested 91% Not Interested 9% Interested Not Interested
  46. 46. 38 3.6 Type of business operation respondents would like to commence Type of Business Frequency Percentage Trading Concerns 23 22 Finance Companies (NBFC’s) 12 11 Service 29 27 Distribution 12 11 Processing and Packaging 07 7 BPO’s 04 4 Import/Export 20 18 Total 107 100 (Source: Primary Data) 3.6 Type of business operation respondents would like to commence Here the above table and the diagram 3.6 shows that the 27% of respondents are interest to commence business in service sector, 22% of respondents are interested to commence trading concerns, Finance companies (NBFC’s) and Distribution 11% each, 18% youths interested to do Import/Export Business, 7% of respondents are interested to commence Processing and Packaging, whereas 4% of graduated youths are interested to commence Business Process Outsourcing (BPO’s) business. 0 5 10 15 20 25 30 35
  47. 47. 39 3.7 FORM OF BUSINESS Frequency Percentage Partnership Firm 21 20 Franchising Business 05 5 Joint Venture 04 4 Start-up-Business 14 13 Own Business 63 58 Total 107 100 (Source: Primary Data) 3.7 FORM OF BUSINESS Here we can able to understand the 58% of Graduated youths are interested to commence their own business, whereas 20% of graduated youths like to commence partnership business, 13% respondents interested to commence Start-Up business, 5% graduated youths interested to commence franchising Business and 4% of Graduated youths interested to start Joint Venture Business. 21 5 4 14 63 P A RT NE RS H IP F IRM F RA NC H IS ING BUS INE S S JOINT VE NT URE S T A RT - UP - BUS INE S S OW N BUS INE S S
  48. 48. 40 3.8 Opinion of respondents about that the entrepreneurship-safest career path in future. Frequency Percentage Yes 56 52 No 47 44 Maybe 04 4 Total 107 100 (Source: Primary Data) 3.8 Opinion of respondents about that the entrepreneurship-safest career path in future. The table and the chart 3.8 represents the opinion of the graduated youths about that the entrepreneurship is a safest career path in future. Here 52% of Graduated youths opinion about the statement is safest (Yes), whereas 44% of Graduated youths are says that Entrepreneurship is not a safest career path in future, and 4% of graduated youths not having an opinion about the statement. Yes 52% No 44% Maybe 4% Yes No Maybe
  49. 49. 41 Table 3.9.1 Contains the awareness of the respondents about the Business Law, Corporate Law and Tax Law and Practices. 3.9.1 Awareness of the respondents about business law Frequency Percentage Highly 24 22 Moderately 68 64 Low 15 14 Total 107 100 (Source: Primary Data) 3.9.1 Awareness of the respondents about business law Here the table and the diagram 3.9.1 represents the awareness of the Graduated youths about the Business Law. Here 64% of graduated youths are moderately aware about the Business law, whereas 22% of graduated youths are highly aware about the Business Law, and 14% of graduated youth’s awareness is low. 24 68 15 0 10 20 30 40 50 60 70 80 Highly Moderately Low
  50. 50. 42 3.9.2 Awareness of the respondents about the corporate law Frequency Percentage Highly 10 09 Moderately 71 67 Low 26 24 Total 107 100 (Source: Primary Data) 3.9.2 Awareness of the respondents about the corporate law The above table and the diagram 3.9.2 is representing the awareness of the graduated youths about the Corporate Law. As per the above table and the diagram we can able to understand that the 67% of graduated and post graduated youths are moderately aware about the Corporate Law. Whereas 24% of graduated and post graduated youths are only having low level of awareness about the Corporate Law, and the 9% of graduated youths are highly awareness about the corporate Law. 10 71 26 0 10 20 30 40 50 60 70 80 Highly Moderately Low
  51. 51. 43 3.9.3 Awareness of the respondents about the tax law and practices Frequency Percentage Highly 18 17 Moderately 54 51 Low 35 32 Total 107 100 (Source: Primary Data) 3.9.3 Awareness of the respondents about the tax law and practices The above table and the diagram3.9.3 represents the awareness about the respondents about the Tax Law and Practice. As per the above table and the diagram 51% of graduated and post graduated youths are moderately aware about the Tax Law and Practices. Whereas 32% are only having low level of awareness about the tax Law and Practices, and 17% of graduated and post graduated youths are highly aware about the Tax Law and Practices. Highly 17 Moderately 51 Low 32 Highly Moderately Low
  52. 52. 44 3.10 Barriers and difficulties faced by the respondents to commence a new business Frequency Percentage Highly 37 35 Moderately 57 53 Low 13 12 Total 107 100 (Source: Primary Data) 3.10 Barriers and difficulties faced by the respondents to commence a new business The above table and the chart 3.10 depict that the barriers and difficulties faced by the graduated and post graduated youths to commence a new business. According to the above table and the diagram 53% graduated and post graduated youths says that they are moderately facing some barriers and difficulties to commence a business. Whereas 35% graduated youths says that they are highly facing barriers and difficulties to commence a new business, and 12% of graduated youths says, they facing barriers and difficulties to commence a new business at low level. Highly Moderately Low
  53. 53. 45 3.11.1 Barriers and difficulties faced by the respondents to commence a new business (Lake of capital) Rank Frequency Percentage 1 57 53. 2 23 21 3 17 16 4 3 3 5 2 2 6 5 5 Total 107 100 (Source: Primary Data) 3.11.1 Barriers and difficulties faced by the respondents to commence a new business (Lake of capital) In the above table and the diagram 3.11.1 shows that Ranking of barriers and difficulties faced by the graduated and post graduated youths to commence a new business. 53% of respondents gave rank 1 to the Lack of Capital is the main barrier and difficulty to commence a new business. Whereas 21% of respondents gives Rank 2 to the same, 16% gives Rank 3 to the Lack of Capital, 3% of respondents gives Rank 4 to the Lack of Capital, 2% of graduated youths gives Rank to the Lack of Capital, and 5% of graduated youths given Rank 6 to the Lack of Capital is the main barrier and difficulty to commence a new business. 1 53% 2 21% 3 16% 4 3% 5 2% 6 5% 1 2 3 4 5 6
  54. 54. 46 3.11.2 Barriers and difficulties faced by the respondents to commence a new business (Govt. Rules and regulations) Rank Frequency Percentage 1 17 16 2 49 46 3 20 19 4 8 7 5 07 6 6 06 6 Total 107 100 (Source: Primary Data) 3.11.2 Barriers and difficulties faced by the respondents to commence a new business (Govt. Rules and regulations) The table and the chart 3.11.2 represents that, the Ranking of barriers and difficulties faced by the graduated and post graduated youths to commence a new business (Govt. Rules and Regulations). Here we can able to understand, 16% of graduated and post graduated youths given rank 1 to the Govt. rules and regulations is the main barriers and difficulty they are faced to commence a business. Whereas 46% youths gives rank 2 to the same, 19% of youths given rank 3 to the same, 7% of youths given Rank 4 to the Govt. rules and regulations, 6% of youths gives rank 5 to the Govt. rules and regulations, and 6% of graduated youths gives Rank 6 to the Govt. rules and regulations as the major barrier and difficulty they are faced to commence a new business. 16% 46% 19% 7% 6% 6% 1 2 3 4 5 6
  55. 55. 47 3.11.3 Barriers and difficulties faced by the respondents to commence a new business (High interest on bank loans) Rank Frequency Percentage 1 16 15 2 15 14 3 32 30 4 24 22 5 7 7 6 13 12 Total 107 100 (Source: Primary Data) 3.11.3 Barriers and difficulties faced by the respondents to commence a new business (High interest on bank loans) The above table and the diagram 3.11.3 represents the Ranking of the graduated and post graduated youths, according to facing the barriers and difficulties faced by them (High interest on Bank Loans). 15% of graduated and post graduated youths gives rank 1 to the high interest on the bank loans as the major barrier and difficulty to commence a new business. Whereas 14% of respondents gave rank 2 to the same, 30% of youths gives rank 3, 22% of youths gives rank 4, 7% of youths gives rank 5 to the same, and 12% of graduated and post graduated youths gives Rank 6 to the High interest on the bank loan is the major barriers and difficulty faced by them, to commence a new business. 15% 14% 30% 22% 7% 12% 1 2 3 4 5 6
  56. 56. 48 3.11.4 Barriers and difficulties faced by the respondents to commence a new business (Lake of business knowledge) Rank Frequency Percentage 1 8 8 2 9 8 3 14 13 4 30 28 5 20 19 6 26 24 Total 107 100 (Source: Primary Data) 3.11.4 Barriers and difficulties faced by the respondents to commence a new business (Lake of business knowledge) The above table and the diagram 3.11.4 represents the Ranking of the graduated and post graduated youths, according to facing the barriers and difficulties faced by them (Lack of business knowledge). 8% of graduated youths gives rank 1 to the lack of business knowledge as the major barrier and difficulty to commence a new business. Whereas 2% of respondents gave rank 2 to the same, 13% of youths gives rank 3, 28% of youths gives rank 4, 19% of youths gives rank 5 to the same, and 24% of graduated and post graduated youths gives Rank 6 to the lack of business knowledge is the major barriers and difficulty faced by them, to commence a new business. 8% 8% 13% 28% 19% 24% 1 2 3 4 5 6
  57. 57. 49 3.11.5 Barriers and difficulties faced by the respondents to commence a new business (Lake of govt. Support) Rank Frequency Percentage 1 08 8 2 12 11 3 11 10 4 17 16 5 34 32 6 25 23 Total 107 100 (Source: Primary Data) 3.11.5 Barriers and difficulties faced by the respondents to commence a new business (Lake of govt. Support) The above table and the diagram 3.11.5 represents the Ranking of the Graduated youths, according to facing the barriers and difficulties faced by them (Lack of govt. support). 8% of graduated youths gives rank 1 to the Lack of Govt. support the major barrier and difficulty to commence a new business. Whereas 2% of respondents gave rank 2 to the same, 10% of youths gives rank 3, 16% of youths gives rank 4, 32% of youths gives rank 5 to the same, and 23% of graduated youths gives Rank 6 to the High interest on the bank loan is the major barriers and difficulty faced by them, to commence a new business. 8% 11% 10% 16%32% 23% 1 2 3 4 5 6
  58. 58. 50 3.11.6 Barriers and difficulties faced by the respondents to commence a new business (Availability of resources) Rank Frequency Percentage 1 15 14 2 14 13 3 16 15 4 14 13 5 26 24 6 22 21 Total 107 100 (Source: Primary Data) 3.11.6 Barriers and difficulties faced by the respondents to commence a new business (Availability of resources) The above table and the diagram 3.11.6 represents the Ranking of the graduated youths, according to facing the barriers and difficulties faced by them Availability of Resources). 14% of graduated and post graduated youths gives rank 1 to the availability of resources the major barrier and difficulty to commence a new business. Whereas 13% of respondents gave rank 2 to the same, 15% of youths gives rank 3, 13% of youths gives rank 4, 24% of youths gives rank 5 to the same, and 21% of graduated and post graduated youths gives Rank 6 to the Availability of resources is the major barriers and difficulty faced by them, to commence a new business. 14% 13% 15% 13% 24% 21% 1 2 3 4 5 6
  59. 59. 51 3.12 Respondents awareness about the procedures to commence a new business Frequency Percentage Yes 63 59 No 44 41 Total 107 100 (Source: Primary Data) 3.12 Respondents awareness about the procedures to commence a new business The above table and the diagram 3.12 depict that the awareness of the graduated about the procedures to commence a new business. Here we can able to understand 59% graduated youths are aware about the procedure to commence a new business, whereas 41% graduated youths are not aware about the procedure to commence a new business. 0 10 20 30 40 50 60 70 Yes No
  60. 60. 52 Sec 3.13.1 deals with factors that can influence the respondents to commence business (family) Agreement Frequency Percentage Strongly Agree 41 38 Agree 42 39 Neutral 20 19 Strongly Disagree 2 2 Disagree 2 2 Total 107 100 (Source: Primary Data) 3.13.1 Factors that can influence the respondents to commence business (family) The above table and the diagram 3.12.1 represents the different agreement on Family is a factor that can influence the graduated and post graduated youths to commence a business. According to the data furnished the above table and the diagram, 38% of graduated youths are strongly agree that the Qualification is a factor that can influence them to commence a business. Whereas 39% of respondents agree the same, 19% neutrally, 2% strongly disagree, and 2% of graduated youths disagree with the same. 41 42 20 2 2 0 5 10 15 20 25 30 35 40 45 Strongly Agree Agree Neutral Strongly Disagree Disagree
  61. 61. 53 3.13.2 Factors that can influence the respondents to commence business (Qualification) Agreement Frequency Percentage Strongly Agree 39 36 Agree 45 42 Neutral 19 18 Strongly Disagree 3 3 Disagree 1 1 Total 107 100 (Source: Primary Data) 3.13.2 Factors that can influence the respondents to commence business (Qualification) The above table and the diagram 3.12.2 represents the different agreement on Qualification is a factor that can influence the graduated youths to commence a business. According to the data furnished the above table and the diagram, 36% of graduated youths are strongly agree that the Qualification is a factor that can influence them to commence a business. Whereas 42% of respondents agree the same, 18% neutrally, 3% strongly disagree, and 1% of graduated youths disagree with the same. 39 45 19 3 1 S T RONGLY A GRE E A GRE E NE UT RA L S T RONGLY DIS A GRE E DIS A GRE E
  62. 62. 54 3.13.3 Factors that can influence the respondents to commence business (Friends and relatives) Agreement Frequency Percentage Strongly Agree 30 28 Agree 45 42 Neutral 23 21 Strongly Disagree 5 5 Disagree 4 4 Total 107 100 (Source: Primary Data) 3.12.3 Factors that can influence the respondents to commence business (Friends and relatives) The above table and the diagram 3.12.3 represents the different agreement on Friends and relatives is a factor that can influence the graduated and post graduated youths to commence a business. According to the data furnished the above table and the diagram, 28% of graduated ad post graduated youths are strongly agree that the Qualification is a factor that can influence them to commence a business. Whereas 42% of respondents agree the same, 21% neutrally, 5% strongly disagree, and 4% of graduated and post graduated youths disagree with the same. 30 45 23 5 4 S T RONGLY A GRE E A GRE E NE UT RA L S T RONGLY DIS A GRE E DIS A GRE E
  63. 63. 55 3.13.4 Factors that can influence the respondents to commence business (Economic conditions) Agreement Frequency Percentage Strongly Agree 33 31 Agree 43 40 Neutral 26 24 Strongly Disagree 4 4 Disagree 1 1 Total 107 100 (Source: Primary Data) 3.13.4 Factors that can influence the respondents to commence business (Economic conditions) The above table and the diagram 3.12.4 represents the different agreement on Economic condition is a factor that can influence the graduated and post graduated youths to commence a business. According to the data furnished the above table and the diagram, 31% of graduated and post graduated youths are strongly agree that the Economic condition is a factor that can influence them to commence a business. Whereas 40% of respondents agree the same, 24% neutrally, 4% strongly disagree, and 1% of graduated and post graduated youths disagree with the same. 33 43 26 4 1 STRONGLY AGREE AGREE NEUTRAL STRONGLY DISAGREE DISAGREE
  64. 64. 56 3.14 Source of capital (finance) for the business Source Frequency percentage Own fund 19 18 Bank Loan 61 57 Govt. Loans 15 14 Partnership 8 7 Securities 4 4 Total 107 100 (Source: Primary Data) 3.14 Source of capital (finance) for the business The above table and the diagram 3.13 depict that the sources of capital the graduated and post graduated and post graduated youths would like to raise for their business. According to the data mentioned on the table and the diagram, 57% of graduated and post graduated youths would like to start their new business with the support of Bank loans, whereas 18% would like to start with their own fund, 14% of youths would like to commence their new business with support of Govt. loans, 7% of youths would like commence a partnership firms, and 4% of graduated and post graduated youths would like to start their new business by issue of different securities. 19 61 15 8 4 OW N F UND BA NK LOA N GOVT . LOA NS P A RT NE RS H IP S E C URIT IE S
  65. 65. 57 3.15 Awareness about the Govt. Policies, rules and regulations of start-ups and business Frequency percentage Yes 58 54 No 49 46 Total 107 100 (Source: Primary Data) 3.15 Awareness about the Govt. Policies, rules and regulations of start-ups and business Here the table and the diagram 3.14 represents the graduated and post graduated youth’s awareness about the Govt. policies, rules and regulation of Start-Up and Business. According to the above table and the diagram 54% youths are aware about the Govt. policies, rules and regulations of Start-Up and business. Whereas 46% of graduated and post graduated youths are not aware about the Govt. policies, rules and regulations of the start-Up and business. Yes 54% No 46% Yes No
  66. 66. 58 3.16 Destination preference of the respondents to commence a new business Destination Frequency percentage Metro Cities 11 10 Cities 39 36 Towns 38 36 Rural areas 19 18 total 107 100 (Source: Primary Data) 3.16 Destination preference of the respondents to commence a new business In this table and the diagram 3.15 represents the destination which is preferred by the graduated youths for commence their business. 36% of Graduated youths are preferred the Cities and Towns to commence their new business. Whereas 18% of graduated youths are preferring rural areas to commence business, and 10% of graduated youths are preferring Metro Cities for commence their business. 0 5 10 15 20 25 30 35 40 45 Metro Cities Cities Towns Rural areas
  67. 67. 59 3.17 Respondents expectations from the central and state Govt. Frequency percentage Highly expecting 27 25 Moderately expecting 68 64 Low 12 11 total 107 100 (Source: Primary Data) 3.17 Respondents expectations from the central and state Govt. In the above table and the diagram represents the respondents expectation from the Central and State Govt. For commencing a business. As per the above table and the diagram we can able to understand 64% of graduated youths are moderately expecting some supports from the Central and the State Govt. side. Whereas 25% of graduated youths highly expecting some of the supports and assistance from the Central and State Gove. Side, and 11% graduated youths are expecting some of the supports and assistance from various Govt. side at low level. Highly expecting Moderately expecting Low
  68. 68. 60 3.18 Concessions expected by the respondents from the central and state govt. to commence a business. Expectations Frequency Percentage Bank loans at low interest rate 39 36 Subsidies 17 16 Tax rebates 4 4 Tax exemptions 12 11 New policies, procedures, and laws 10 10 Interest free loans 25 23 Total 107 100 (Source: Primary Data) 3.18 Concessions expected by the respondents from the central and state govt. to commence a business. Here the above table and the diagram depict the concessions expected by the respondents from the central and state govt. to commence a business. According to the data furnished in the above table and the diagram, 36% of graduated youths expecting Bank loans at low interest rate. Whereas 23% of youth’s expectation is interest free loans, 16% youths expectation is Subsidies, 11% is Tax exemptions. 10% is new policies, procedures, and laws, and 4% of graduated youths expecting tax rebates from the Central and State Govt. 39 17 4 12 10 25 BANK LOANS AT LOW INTEREST RATE SUBSIDIES TAX REBATES TAX EXEMPTIONS NEW POLICIES, PROCEDURES, AND LAWS INTEREST FREE LOANS
  69. 69. 61 CHAPTER IV FINDINGS, SUGGESTIONS AND CONCLUSION

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