Entrepreneurship in India: Why are there so few entrepreneurs among Indian youth?

Based on my personal experience,?some of the reasons why entrepreneurship is more difficult in India?than in other developed countries, include:

Middle Class Attitude Towards Money:?The latest data from 2021 shows the share of the population in the middle class continues to hover around 50%. Indian middle-class families discourage entrepreneurship, choose a safe, secure employee lifestyle over a business lifestyle. This is the most significant barrier to Indian youth participation in business.

Population competition:?The country has a large number of unemployed youths. There are very few jobs available. They are all forced entrepreneurs. As a result, every business faces intense competition, making it difficult to stay in business.

Low rule enforcement:?Those who do not follow the rules have an advantage. People usually follow rules because they are afraid of the consequences. In India, there are few consequences for breaking the law. Most of the time, bribing people will suffice. As a result, unorganized businesses dominate the majority of industries. It is difficult for organized or law-abiding businesses to survive.

Inadequate financing infrastructure:?Banks and equity funds do not use innovative financing instruments.

Anti-Business Attitude:?India is not a pure capitalist nation. An average Indian believes that anyone who has become wealthy is evil. As a result, when a businessman interacts with government departments, the police, or licensing authorities, they suspect that he is out to fleece people and should share some of his fortune with them. They do not assist him; rather, they obstruct him. They keep raising the cost of doing business.

My Personal Note

In this country,?our social class and community culture have the greatest influence on our attitudes?and beliefs. If you come from a family that does not support entrepreneurship or the pursuit of a business lifestyle,?you are forced to rebel?against your entire social class.?Middle-class families, as well as parents who work for the government or in the private sector, discourage their children from doing anything on their own. They are afraid of society's judgments (only within the middle class), so they force their children to work like them. I must also mention that their?financial literacy is extremely low.

People from?lower socioeconomic classes have the best chance of succeeding in business?because they have nothing to lose. In order to survive on a daily basis, they must take risks. That is how they?develop perseverance and risk tolerance?in children.

What are some?upper-class traits/values?that distinguish them from the middle class? Networking, a collaborative mindset, socialization among business class families, and so on. Learn business subjects, and so on, as well as correct speech, respect/social manners, no bad habits, and sports.

The real question is how to transition from a middle-class value system to an upper-class value system.

• Education:?Learn Economics, Finance, Cultural History, Business Administration, and other subjects.
• Choose a business career to learn about business ethics and lifestyle (Sales, Marketing, Management, Finance etc)
• Participate in networking activities?such as joining clubs, sporting events, and entrepreneur meetings.
• Choose a woman from a business family?for marriage: This is one of my best recommendations for this transformation. If you cannot find a bride from an upper-class family, choose a bride from a middle-class business family. You and your life partner will have similar values and perspectives.
• Start Your Own Business:?At some point in our lives, we must start our own businesses. Make certain that we run it for a longer period of time.
• Practice Charity:?Charity is a powerful marketing mechanism as well as a standard business practice. It is primarily based on the principle that an entrepreneur contributes to society while minimizing our money-mindedness, feeling relaxed by helping others, and receiving respect, love, and blessings.

**Thank you for taking the time to read my article here. I wish you the best of luck. **