What makes some business owners widely successful? What separates the entrepreneurs who build successful businesses from ones who failed? How, exactly do the entrepreneurs seem to hit the bulls eye? Many business people would argue there is not one concrete recipe for success, but many successful entrepreneurs have in common certain characteristics that have contributed to the rise of their companies. Certain factors- innovation, money management, planning and adaptation at different stages of the business, contribute to the success of an entrepreneur. Above all, those who emerge triumphant in their business have the Midas Touch.

Today, India is one of the fastest growing economies in the world. However, the World Bank annual report on ‘doing business,’ places India at 134 among 185 countries, a not so noteworthy position. The ranking is way behind its BRICS counterparts. This calls for an urgent steps to rivet on improving the country’s business environment and arrest the decline in relative performance against various determinants of investment attractiveness.

It’s time that the country brings in the major taxation overhaul through GST and join the league of 140 nations across the world with GST in place. The India GST case is structured more around efficient tax collection, curbing corruption, easy interstate movement of goods, etc. Touting it as the “single biggest tax reform” since independence, Finance Minister Arun Jaitley while introducing the Bill had said that the GST law will subsume all indirect levies from April, 2016 and would ensure seamless flow of goods and service across the country. As we all know, the GST aims to simplify the indirect tax regime with a single tax on manufacture, sale and consumption of goods and service at a national level. A study by the National Council of Applied Economic Research (NCAER) had estimated that roll out of GST would boost the India’s GDP growth by 1% to 2%. CRISIL had also reported that GST is best way to mobilise revenue and reduce the fiscal deficit. 

Women entrepreneurship has been recognised as an important source of economic growth. Women entrepreneurs create new jobs for themselves and others and also provide society with different solutions to management, organisation and business problems. However, they still constitute a miniscule segment of all entrepreneurs. Women entrepreneurs often face gender-based barriers to starting and expanding their businesses, like discriminatory property, matrimonial and inheritance laws and/or cultural practices; lack of access to formal finance mechanisms; limited mobility and access to information and networks, etc.

Women’s entrepreneurship can make a particularly strong contribution to the economic wellbeing of the family and communities, poverty reduction and women’s empowerment. Taking
cognisance of this, the present edition of BFA includes some incredible work undertaken by women entrepreneurs. 

Today’s knowledge based economy is fertile ground for entrepreneurs, in India. It is rightly believed that India has a vast talent pool with virtually limitless potential to become entrepreneurs. Therefore, it is imperative to create the right environment to nurture and groom successful entrepreneurs. To achieve this, India must focus on following keyareas.

Prime Minister, Narender Modi wrapped up the second US visit with a rousing rally for Indians in Silicon valley, his signature act that showcased India as much as it showcased him. He declared that the 21st century belongs to India. The Prime Minister’s manifest interest in innovation and tech entrepreneurship undoubtedly made a positive impact.

Modi not only made the first Prime Ministerial visit to the Silicon Valley but also met CEOs of top cutting-edge tech firms like Adobe, Facebook, Google and Tesla, pitching “Digital India” to a receptive audience where “Start Up India” and “Stand Up India” went down well with the familiar “Make in India”.

His public interaction at Town Hall with Mark Zuckerberg, the announcement that Google will help India set-up free Wi-Fi at 500 railway stations were all impressive. It will enable typing in 10 Indian languages. Microsoft will partner with India to set up broadband technology in five lakh villages. Chipmaker Qualcomm will invest $150 million for Indian start-ups in the mobile and ‘internet of everything’ realm. Modi reportedly invited Apple to set up a manufacturing base in India, and CEO Tim Cook “responded positively”, without giving an indication whether the company would establish operations here.

Black Monday hit India hard. Really hard. The country’s benchmark index, Sensex, saw its biggest-ever intra-day fall in absolute terms, convulsed by the meltdown in China’s stock market on 24 August .

The bloodbath has somewhat abated, with most equity markets across the world now recovering. How can we gauge the impact of China’s crisis and the volatility in global financial markets on India.

A slowdown in the Chinese economy isn’t a terrible event when we consider that our Prime Minister is trying to attract manufacturers with his Make in India pitch. We are already witnessing that with big investments from the likes of Foxconn and others. Among emerging markets, India is still a happy story.

If India can continue to pursue economic reforms and boost infrastructure investment, it has the potential to grow at seven to eight percent per year for a sustained period. India could well assume the mantle of being the fastest growing BRICS economy over the medium to long term, which would make it a very attractive destination for multinationals keen to tap the fast-growing Indian consumer market to invest in new factories and plants.

"Indian economy is the bright spot in the global landscape.." said the International monetary fund in a recent statement and added that India is now one of the fastest growing emerging market economies with a growth rate that is to accelerate further.

While there is a lot to cheer about the IMF’s assessment, we have to take note of the fact that India will have a workforce of billion persons by 2030 with a million persons entering the job market every month. While skill development is critical, it
won’t translate into enough employment unless existing firms grow and many new enterprises come up. The Indian economy is currently creating only 5.5 million organised sector jobs a year, resulting in a burgeoning demand for jobs that are
non-existent.

The only solution to the issue of jobs is to promote entrepreneurship. Reinforcing this and "Motivating the entrepreneur in you" is the core purpose of Business for all. By publishing successful entrepreneurial stories from diverse sectors from every nook and corner the country, the magazine has been doing its bit where the "fear of failure" and lowering of social status was a major hindrance and barrier to entrepreneurship. Till a decade back, it was common for fathers not to give their daughters in marriage to prospective grooms who were businessmen and hence not very economically reliable or socially mobile.

"Indian economy is the bright spot in the global landscape" said the International monetary fund in a recent statement and added that India is now one of the fastest growing emerging market economies with a growth rate that is to accelerate further.

While there is a lot to cheer about the IMF's assessment, we have to take note of the fact that India will have a workforce of billion persons by 2030 with a million persons entering the job market every month. While skill development is critical, it won’t translate into enough employment unless existing firms grow and many new enterprises come up. The Indian economy is currently creating only 5.5 million organised sector jobs a year, resulting in a burgeoning demand for jobs that are non-existent.

The only solution to the issue of jobs is to promote entrepreneurship. Reinforcing this and "Motivating the entrepreneur in you" is the core purpose of Business for all. By publishing successful entrepreneurial stories from diverse sectors from every nook and corner the country, the magazine has been doing its bit where the "fear of failure" and lowering of social status was a major hindrance and barrier to entrepreneurship. Till a decade back, it was common for fathers not to give their daughters in marriage to prospective grooms who were businessmen and hence not very economically reliable or socially mobile .

On completion of the one year of the NDA Government, one question which seems to be weighing in a section of the fraternity of entrepreneurs - both small and big - is whether the Government has done enough for them?

One can argue that the expectations of the corporate sector soared amid the slow and sluggish economy. But at this moment, entrepreneurs and large business houses are dismayed at the speed of execution while being positive about the small steps which reflect the government's intent.

Prime Minister, Narendra Modi had said "We want to create job-creators". The intent is loud and clear. How will the Government achieve this. Concrete action on the ground is awaited.

What happened to the 10,000 crore start-up fund? Which companies have benefitted? Little has moved and there is no word or announcement from the Government on how to make this an attractive proposition. India's start ups are largely funded by private investors or individuals but this government funding opportunity could be instrumental in the setting up of more start ups, leading to the overall objective of creating jobs.

Debates on Net neutrality have dominated the public and media
discourse during the last one month. Also, the likely dangers to
the start up community due to programs like Internet.org and
Airtel Zero have come under sharper focus.

Net Neutrality is crucial for small business owners, start ups and
entrepreneurs, who can simply launch their businesses online, advertise
and market their products without any discrimination on the basis of cost
or speed. It is essential for innovation and creating job opportunities. Big
companies like Google, Twitter and several others are born out of Net
Neutrality. With increasing Internet penetration in India and given the fact that
the country is evolving a conducive ecosystem for start ups and entrepreneurs
any move to discriminate is worrisome.

Net Neutrality is the Internet’s guiding principle. It preserves our right to
communicate freely online. This is the definition of an open Internet. Take for
instance the phone. The telecom company shouldn’t impose curbs on whom
to call and what is spoken. The Internet Service Provider (ISP) shouldn’t be
inquisitive about the content viewed and posted online.

Business for all has completed two years and this edition is the first of our third year.

In the last 24 months we have won the appreciation of our readers and the feedback has been positive. BFA, in alignment with the founding principles, has laid emphasis on articles which helped several entrepreneurs across India to chart the way forward. The stories not only unravelled the secrets of successful entrepreneurs to help budding entrepreneurs but also gave insights to avoid some common pitfalls in running businesses.

BFA always focussed various topics of immediate relevance for aspiring and seasoned entrepreneurs. The primary objective was to publish and thus celebrate the outstanding achievements of selected entrepreneurs across sectors that talked about their learning and philosophy. Further BFA is keen to share the wisdom gained by the successful people through their hard work and commitment.

Several things go into making of a successful entrepreneur. Some who feel entrepreneurship is all about glory and success don’t realise what it takes to succeed
as an entrepreneur. In the last two years we also learnt that it is impossible to document the ups and downs of an entrepreneur in his or her journey.

Sensing the tempo, some of the top Silicon Valley experts have even said that next decade is going to be “golden era” of Indian entrepreneurship. 

Let us all make that happen. Happy Reading !!

The International Women’s Day, on March 08 , is an opportunity to celebrate the achievements of women while calling for greater equality. This year’s theme - Make It Happen, envisages to encourage effective action for advancing and recognising women.

In the words of former President APJ Abdul Kalam “Empowering women is a prerequisite for creating a good nation, when women are empowered, society with stability is assured. Empowerment of women is essential as their thoughts and their value systems lead to the development of a good family, good society and ultimately a good nation.”

In earlier days , the lingo associated with women included the three Ks- Kitchen, Kids, Knitting, later came the three Ps-Powder, Pappad and Pickles and at present there are four Es- Electricity, Electronics, Energy, Engineering. 

Today, Indian women have stormed the male bastions and have traversed a long way. They have emerged as a major force to reckon with in diverse spheres. They have made forays into arenas beyond the kitchen. Women are equipping themselves with the knowledge and skills pursuing professional and technical courses to cope with market needs. They are flourishing as designers, interior decorators, exporters, publishers, garment manufacturers and continue to explore new avenues of economic participation.

With the Union Budget 2015 round the corner, the expectations are riding high on the Narendra Modi-led government as the Finance Minister Arun Jaitley is expected to unveil a series of reforms.

Thousands of wish lists have already been submitted to Prime Minister and the Finance Minister during last few months by different organizations. The question once again is how will the Government balance the rev up the country’s economy and meet public expectations.

Amongst this, the Government needs to address the challenges and difficulties faced by start-ups if it wants to make its flagship initiatives like Make in India and Digital India campaigns more successful. The Make in India campaign and the IT sector can play a major role in boosting the Government’s project. Extending incentives to the industry for adoption and implementation of IT tools for efficiency enhancement, ensuring sustainability and global competitiveness for the success of the IT based companies in India are an imperative.

media scene to provide a platform to first generation entrepreneurs to share their entrepreneurial journey. Covering different sectors, a wide range of enterprising stories, interviews with cutting edge entrepreneurs and their case histories, BUSINESS FOR ALL aims to inspire, educate and motivate young and budding entrepreneurs to give shape to their dreams. Published from Hyderabad, the magazine commands fairly good readership across the country owing to a strong circulation network.

BUSINESS FOR ALL will serve as a platform showcasing the successful entrepreneurs who are incredible role models in their chosen business areas. They have fuelled the nation’s economy and provided livelihood to scores of people. The magazine will share their entrepreneurial journey, the challenges faced and success mantra which positioned them in the growth trajectory. We want this to be a great motivation to others to emulate and fulfill their dreams. There is some entrepreneurship in everybody and most of us would want to be entrepreneurs. Entrepreneurship gives absolute personal freedom.

BUSINESS FOR ALL will strive to support all aspiring/ budding entrepreneurs to start their dream businesses and entrepreneurs to expand their ventures. The publication will provide information regarding tax matters, legal issues and articles on raising funds.

BUSINESS FOR ALL will serve as a platform showcasing the successful entrepreneurs who are incredible role models in their chosen business areas. They have fuelled the nation’s economy and provided livelihood to scores of people. The magazine will share their entrepreneurial journey, the challenges faced and success mantra which positioned them in the growth trajectory. We want this to be a great motivation to others to emulate and fulfill their dreams. There is some entrepreneurship in everybody and most of us
would want to be entrepreneurs. Entrepreneurship gives absolute personal freedom.

BUSINESS FOR ALL will strive to support all aspiring/ budding entrepreneurs to start their dream businesses and entrepreneurs to expand their ventures. The publication will provide information regarding tax matters, legal issues and articles on raising funds.

Ethical business practices, diligence and determination catapult people to success and they eventually become shining examples and role models for others. The cover story featured in this issue traces the entrepreneurial journey of one such role model, Dayanand Agarwal founder of the Rs. 250 crore DRS group, whose efforts are worth emulating. This is one among several other stories including the special section on women. Coinciding with the International Women’s Day on March 8, Business for all salutes the passion, business acumen and determination of several women across India in the special section Also, it commends the spirit of women entrepreneurship in the country which has been recognised as an important source of economic growth. Women can make a particularly strong contribution to the economic well-being of the family and communities, poverty reduction and women’s empowerment.

Being an entrepreneur is not just starting a business, it is about having the right attitude and the drive to succeed in business. In reality, entrepreneurship is a mindset more than anything .The great ones are ready to be laughed at and criticized in the initial stages as they clearly foresee their path ahead and are too busy working towards their dream and also take risks frequently.

Often people have asked me: How do we generate business ideas? Where do we go for advice on setting up a business? 
What does it really take to turn a bright idea into a successful business venture?

The world over MSME companies have been accepted as the engines of economic growth. In India too this sector plays an important role in the overall GDP growth of the country. In recent years even though the conomic 
scenario was not encouraging this sector has consistently registered higher growth compared to overall industrial sector. 

The world is experiencing sweeping changes powered by huge data analysis, mobile and cloud computing. These foundational technology shift is opening lot of opportunities for new ventures.

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BUSINESS FOR ALL, monthly, has emerged on the media scene to provide a platform to first generation entrepreneurs to share their entrepreneurial journey. Covering different sectors, a wide range of enterprising stories, interviews with cutting edge entrepreneurs and their case histories, BUSINESS FOR ALL aims to inspire, educate and motivate young and budding entrepreneurs to give shape to their dreams. Published from Hyderabad, the magazine commands fairly good readership across the country owing to a strong circulation network.

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Business For All - December 2013

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