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Has entreneurship taken a back seat during the financial crisis??

Created by : Jagbir Singh, Senior Consultant, Ernst & Young  | 11 05 2008 12:39:52 +0000
Industry : Management & Strategy ConsultingFunctional Area : Getting Started(Entrepreneurship)
Keywords : Business Entrepreneurship Money People Industry Financial Crisis Crisis Financial During Investing Own Taken Back Seat ENTRENEURSHIP
Activity:  249 views;  last activity : 07 06 2010 20:18:09 +0000

During this financial crisis every industry has been affected and people are no more investing money in anything until and unless everything comes back to normal, so getting started on their own having their own business is taking a back seat according to me, this is a debatable topic and do let me know your views on this.

  
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yes it will affect setting up their own business as of now, people are scared to invest anything until and unless they are sure of making profits, people are not ready to take risks as of now during this financial crisis period.
By Amit Madhav, Senior Consultant, GKC  | 11 05 2008 12:45:03 +0000
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Yes it's very hard because most of the people who are in the upper middle class and middle class who had invested money they have lost, and the spending power has also become less and there is huge competition from the bigger players, and as going by the current industry standards its difficult to set up own business.
By Jagbir Singh, Senior Consultant, Ernst & Young  | 11 05 2008 12:39:52 +0000
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No it will not be difficult to set up own business as the industry standard suggests the unorganized retail industry is nearly 93% and the organized is only 5-6% so there is a huge scope for one setting up their own business and as India is very young so it has lot more spending power than any other country. So one can rest assure of making some good money with setting up their own business.


By Amit Madhav, Senior Consultant, GKC  | 11 05 2008 12:47:20 +0000
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No it is not difficult to set up their own business, if you have done a thorough check and know what sort of products there will be in demand in future, and one should know how to invest smartly, and the current scenario is just a temporary and these things will pass by and one should not hesitate to take risks in staring up a business.


By Anil Kumar Singh, Senior Consultant, GKC  | 11 05 2008 12:43:52 +0000
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