chapter 8 Flashcards
(15 cards)
need for entrepreneur
- life line of a nation
- provide innovation
- growth of economy
- increased profits
- employed opportunities
- social benefit
process of entrepreneurship
- self discovery
- identifying opportunities
- generating and evaluating ideas
- planning
- raising start up capital
- start up
- growth
- harvest
when and who started the startup India scheme?
narendra modi on 15 august 2015
startup
A startup is a business enterprise in form of private ltd. company, partnership, limited liability partnership or sole proprietor, registered in India which started less than five years ago and have annual turn over of less than 25 crore.
various scheme and ways to funds startup by government of India
- no inspection
- registration
- income tax exemption
- capital gain tax exemption
- benefits in patent and intellectual property
- funding schemes for startup
ways to fund start up
- self funding
- crowdfunding
- get angel investment in your startup
- get venue capital for your business
- raise money through bank loans
- get business loan from NBFCs
- government programs that offer startup capital
Intellectual property rights
- gets market value
- specially upcoming entrepreneurs can make their name and place in market with IPR
- research show more than 25 % patent are taken by new and upcoming entrepreneurs
- IPR gives the entrepreneur property right on intangible assets
- IPR rights give an edge over your competitors
copyright
gives the copyright holder the exclusive right to copy work, modify it and distribute, perform and display the work publicly
patents
protect process, methods and inventions that are “novel”,”non-obvious” and “useful”.
trademark
brand name
small business
any enterprise which employs not more than 50 person when using power and 100 when not using power and with capital assets not exceeding 5 lakh.
Role of small business in socio, economic development of India
- output generation
- employment generation
- balanced regional development
- supply an enormous variety of products
- provide opportunity for entrepreneurship
- advantage of low cost production
role of small business in rural India
- employment
- improves economic condition
- promotion of artistic and creative sense
- rural development
- mobilisation of local recourses
why is regional growth and development a must
1 to provide employment opportunities
2. to develop local skills and resources
3. to restrict the migration of people to urban areas
advantages given to rural backward and hilly areas businesses
- land
2.power - water
- goods and service tax
- raw material
- finance
