5 Reasons why (I think) entrepreneurship is lagging in India.

India is host to world’s second largest number of startups(as of 2017) and ranks 37 on the global rank on startup ecosystem. However, being world’s second most populous country, it is not impressive. If you look at the ratio of people looking for jobs and those who are willing to start their own business, you get the complete picture. So what are the probable reasons?

  1. We are all Indian Chicken
    There is an old popular story that once upon a time a man had to transport a large number of chicken to Nepal, so one day, he took out a  large open truck, put all chicken in it and went on his journey. When he reached Nepal he counted the chicken. Not one was missing. People asked him how was he able to make it through the journey without a single chicken jumping out of the truck. He said: look, these are all Indian chickens, if one of them tries to fly or jump, all the rest of them pull it back.
    Although this is just a story, every story has a deep rooted reality. In our culture, we try to stop others from doing what nobody else has done, thus playing it safe. It is our caring culture. However, it has to be opposite in startup world. If you do something that nobody has ever done, you tend to succeed.
  2. We don’t understand money
    We have been nurtured in a system that does not allow you to think beyond  hard, you’ll have money”. Our education system doesn’t talk about money. We think we will automatically be rich if we choose right subject or college. Nothing can be farther from truth. We don’t understand how money works and live in a false sense of purity, of dreams made on false premises.
  3. Sarkari Jobs aka. Job Security aka. Permanent Jobs
    Every moment in life is yet another opportunity to unravel the secrets of society, money, knowledge and build upon the geniuses who have left their works incomplete. We rarely think of life as an opportunity,  and take challenges as blessing. Our generation has been taught to take up government jobs because they will pay you even when you can’t work not realizing the fact that people who understand money don’t work – they make others work and manage them – which can be done at any age. Even if you are worried about your old age, you can easily make provisions for your future with investment in retirement plans.If you don’t have greater aspirations than just job security, government jobs are not worth it.
  4. Paisa kaha se ayega (From where will the money come?)
    That’s right, most of people willing to start business on their own won’t take a leap forward because they think it requires large amount of money to start a business. That is not true, ask any entrepreneur. It is all about management. “Money doesn’t grow on trees”, yes, that’s the good thing and that is why you need to stop worrying about money when starting a business.
  5. The unperceptive government
    Our governments are very restrictive. Although conditions have improved but still there are major changes required in registration, incorporation and formalization of business and taxes so that people could start chasing their dreams rather than worrying about the government robbing them.