THE ERA OF ENTREPRENEURSHIP

Running a business and becoming your family the first millionaire is the dream of many young children

In March 2020 when the world shut down it gave opportunities to young students to rethink what they wanted to do in their life, many of them wanted to do something of their own

Well doing something on your own requires a lot of time, investment, and dedication.

Our youth had both time and dedication to put in now all they required was investment this was a major concern for all of them

The “Small business” concept came to the rescue for them

a small business is a single person owned homegrown brand

which functions on fewer capital investments little or no labor

and small machinery

consumer attraction was also quite smooth as everyone was on the internet all day looking for something to buy as they could not step outside of their houses, online shopping was the only option available to them small online businesses hit a huge rise at this time now you may be wondering where did they sell those products as getting a website of your own is a difficult task, as you know many of them can’t afford to invest in a website from the start so a creative way to utilize online platforms was to start selling on them, online social networking platforms like Facebook Instagram and Whatsapp, these came to the rescue for the small businesses

All of these apps have a special section for these kinds of store as they encourage them to sell their products through their platform for example WhatsApp provides a special feature known as a business profile in which you can add automatic generated messages catalogs and many more features which makes the small business owners profile more professional and user friendly

On the other hand Instagram provides you with a special feature i.e. “instagram shop” it is a discovery tab on their profile to showcase in stock products which make it easier for people to shop featured items by viewing “tagged” products in posts.

Did you know? According to the National Bureau of Economic Research. More than half of Generation Z (under 25 years old) said they hoped to own their own business in the next 10 years, all this is because of the small business concept going around this is making our youth a job providers and not a job seekers which is very much important for our developing nation

as everyone knows India has a huge market

Consumer spending across India amounted to over 21.6 trillion rupees as of January 2020. India is expected to become the third-largest consumer market by 2030.

Thus running a business here can be both smooth and challenging at the same time challenging because of the competition in the market but in recent times we have seen a change in the market trend people are becoming more aware of the fact that big enterprises are just ripping them off to make huge amounts of profits they have recognized the authenticity of the small business owners the love they out in their products and the efforts they make to provide their customers an amazing service hence many people have started showing their support to these small business owners by buying products from them rather than going to big shopping malls and buying expensive items.

Another good thing we have seen in small businesses is that they are facilitating women growth they not only provide them with employment opportunities but also encourage them in promoting their entrepreneurial skills many of them have helped uneducated but skilled women to sell their handmade products online to a wider market they not only provide them with their constant support but also help them in living a better life.

To conclude it we have seen how big of an impact the small business is making in society even though they have a little contribution to the economy we are certain that they are going to make huge impacts in the coming years they will help in achieving many economic goals, they have the capacity to turn India into a producer market rather than a consumer market which in turn will produce many more millionaires and billionaires in our country.