India is known worldwide for its talented manpower and this is why all the countries import human resources from India. Some of the biggest organizations of the world have Indian employees at managerial aab sabkond directorial levels. Realizing their own potential, corporate executives in India are now beginning to set up their own businesses apparently bitten by the entrepreneurial bug.
Entrepreneurship is the most widespread phenomenon in our country as young professionals believe in utilizing their talent in their own start ups rather than working under others. One needs to have an unusual business idea and should be willing to take risks to start an enterprise from the scratch. For some, the drive starts early i.e. from college years and for others, it takes few years of corporate experience to take the plunge. It is interesting to note that more than 90% of entrepreneurs have worked in an organization before making the move out of which nearly 70% have an experience between 0 to 5 years.
According to the ET-Synovate Entrepreneurship Survey, all those who switch from corporate careers to entrepreneurship already have a business idea in their minds. Almost 85% respondents said that they made the shift when they could no longer hold back their urge to implement the idea and be their own boss. Most of them were pushed to quit either as they had to work on ideas they did not agree with or because it could lose effectiveness if delayed. The major problems faced by the upcoming entrepreneurs were mostly related to funding, convincing business partners and lack of family support. The trends show that even as almost 60% of them got support in form of mentorship or incubation, others preferred being their own mentors. The rapidly spreading bug of entrepreneurship is surely etching various success stories.
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