Presentation on Entrepreneurship Development

Entrepreneur

An entrepreneur is defined as “person in effective control of commercial undertaking; one who undertakes a business or an enterprise”.

Entrepreneur is an innovative person who maximizes his profits by following new strategies or venturing into new products or services.

Entrepreneurship 

Entrepreneurship is the act of being an entrepreneur, who starts any economic activity for being self-employed.

Entrepreneurship   is the “process of the entrepreneur”. It is an attempt to create value through recognition of business opportunity. It is basically communicative and management functions to mobilize financial and material resources.

The entrepreneurial activity is governed by varying combination of socio-economic, psychological, cultural and other factors: Caste/religion, Family background, Level of education, Level of perception, Occupational background, Migratory character, Entry into entrepreneurship, Nature of enterprise, Investment capacity and Ambition/moderation.

Entrepreneurship development

Entrepreneurial Characteristics

Being an entrepreneur requires specific characteristics and skills that are often achieved 

through education, hard work, and planning.

Risk Taker

Businesses face risk. Entrepreneurs minimize risk through research, planning, and skill 

development.

Perceptive

Entrepreneurs view problems as opportunities and challenges.

Curious

Entrepreneurs like to know how things work. They take the time and initiative to pursue the

 unknown.

Imaginative

Entrepreneurs are creative. They imagine solutions to problems that encourage them to create new products and generate ideas.

Persistent

True entrepreneurs face bureaucracy, make mistakes, receive criticism, and deal with money, family, or stress problems. But they still stick to their dreams of seeing the venture succeed.

Goal-setting

Entrepreneurs are motivated by the excitement of staring a new business. Once achieved, they seek out new goals or ventures to try.

Hardworking

Entrepreneurs need a great deal of energy to see a venture start and succeed. Yet they are not deterred by the long hours to achieve their goal.

Self-confident

Entrepreneurs believe in themselves. Their self-confidence takes care of any doubts they may have.

Flexible

Entrepreneurs must be flexible in order to adapt to changing trends, markets, technologies, rules, and economic environments.

Independent

An entrepreneur’s desire for control and the ability to make decisions often makes it difficult for them to work in a controlled environment.  

Importance of Entrepreneurship

žIncreases national production

žBalanced area development

žDispersal of economic power

žReinvestment of profit for the welfare of the area of profit generation

žDevelopment is a function of motivation and human resource

žEntrepreneurial awareness

Entrepreneurial Opportunities in Agriculture:

•Diversification:

•Organic farming:

•Food preservation, processing and packaging:

•Production of agro-inputs

•Floriculture

Entrepreneurial Opportunities in Agriculture

Diversification in agriculture involve shift in cropping pattern from traditionally grown less remunerative crops to more remunerative crops like oilseeds, pulses, fodder crops, horticulture, medicinal and aromatic plants, floriculture etc. It also includes livestock and fishery enterprises and small scale agro-based industries. Diversification increases the employment opportunities, optimum use of resources and profitability.  

Entrepreneurial Opportunities in Agriculture:

The importance of organic farming is growing very fast particularly in international market. This sector provides great business opportunities to agro-based entrepreneur. Area under organic farming is increasing but unable to meet the demand of organic produce.

Entrepreneurial Opportunities in Agriculture:

• Food preservation, processing and packaging 

Large proportion of agricultural produce is wastage due to improper storage and warehousing, lack of transportation and food processing facilities. There is a significant shift in consumer food preference towards processed food products. Entrepreneurs can add value with proper management and marketing initiatives. The processed food market opens a great potential for entrepreneurs be it fast food, packaged food or organic food.

Entrepreneurial Opportunities in Agriculture:

•Floriculture

 floriculture is a very lucrative sector. Bangladesh's share in

 world trade of floriculture is very poor/narrow per cent. 

This is a huge market to be tapped considering the rising 

demand for fresh flowers.

 Entrepreneurial Opportunities in Agriculture: 

 Production of agro-inputs:

•Farmers can start entrepreneurial activities in the production of seed, organic fertilizers and pesticides.