By Kunal Kumar, Founder & CEO, something Cool | http://somethingcool.in
Unemployment – A Big Concern
Unemployment is one of the pain areas and prickly issues being faced by any economy. Unemployment not just in uneducated but also has branched its roots in the educated sectors. India being a young country constitutes a major chunk of its population be youth and to tap their full potential we need to empower our youth with the right set of skills and opportunities.
Entrepreneurship to Counteract Unemployment
Entrepreneurship is our greatest weapon to counteract this issue and to empower our youth. Youth by default are energized and empowered, they are willing to explore new territories and take up new challenges and risks.
While working as an entrepreneur, an individual gets to work on multiple things, juggle different roles and turn them into better leaders and better individuals. Put aside the fact that Entrepreneurship brings big money from investors and even foreign clients, it also has a key role to play in building a character.
When battling unemployment, entrepreneurship is a solution, entrepreneurs open doors to new ventures, new business, new alliances etc. When an investor puts money into a startup or a venture, the entrepreneur automatically gets to expand its team to scale the venture and hence providing employment to more people.
These days entrepreneurs are willing to hire to even resources who do not have formal education or a degree but have the right attitude, skillset and willingness to learn, which is a big shift in the thought process in comparison to corporate or big companies who are adamant on hiring from Ivy League colleges or shortlist candidates on the basis of qualifications not capabilities.
The way forward should be to establish Entrepreneurship Development policies and institutions from the Govt, that focuses on harnessing the power of the youth and empowering them with the tools and means to venture out. Of course, not all ventures will take off and few will have to come across failures often, the policies should be planned in a way to cover that and promote a risk-free innovative environment for entrepreneurs to flourish.
Entrepreneurs these days are moving back to their home towns in Tier 2/3 cities from Tier 1 cities in order to uplift their towns and cities and give employment in their community. Surya Power Magic, a cleantech venture based out of Coimbatore was build up by founders who initially started their first ventures in Banglore – the IT hub of the country. Now in Coimbatore, they hire and source their staff locally.
Entrepreneurship is not money-driven venture but a passion-driven one that facilitates positive change in the society. The role of the government in entrepreneurship should be that of a facilitator and not a controller. The tremendous impact of internet in business, which has obliterated geographical barriers, has made business a lucrative career option.
Many young minds now understand the importance of looking at a steady business growth, forming the right team and empowering it to bring about that growth. Targeting rural areas and tier 2-3 cities with better product and services is the way forward for entrepreneurs as there is already saturation in metros and big cities. Industry experts say any business that adds value to the quality of the life of youth will see growth. Startups have the opportunity to grow and become big. Keep challenging yourself and keep pushing yourself.