Entrepreneurship and Business Coaching:
India is considered to be one of the largest and one of the fastest growing markets offering a favourable and encouraging environment for entrepreneurship and small businesses.
According to a report published on evoma.com which is turned based on some reports obtained through multiple sources such as msme.gov.in/ CRISIL/ CII/ KPMG, the total number of SMEs in India is estimated to be around 42.50 million, which is almost 95% of the total industrial base operating in. Besides, the SME sector in India employs around 106 million people, which is almost 40% of the country’s workforce, and which is only second to the agricultural sector of the nation.
SMEs in India contribute to around 6.11% of the total manufacturing GDP, and 24.63% of that of the service sector. In addition to this, SMEs contribute to about 40% of the total exports of the country and 45% of the total Indian manufacturing yield. SMEs have maintained an average growth rate of around 10%. The current fixed assets of SMEs in India put together are valued to around 1,471,912.94 crore.
Looking at these astonishing figures, one can only realize the potential of entrepreneurship and small businesses in the country. However, in India, most of the small business owners have been observed to be operating on the basis of their experience and instinct, rather than their education and professional expertise. Most of them are not trained on operating businesses in a professional manner, which at times, proves to be a hindrance for the growth of their business, and to the country’s growth as a whole.
Here’s where entrepreneurship and business coaching come into the picture. These training programs intend to develop the fundamental understanding of the business environment, learning the various common aspects such as finance, administration, digital marketing, etc. that are required in the business irrespective of its nature. Besides, this training also certifies individuals on different objectives associated with a particular business including entrepreneurship – dealing with the attributes of an entrepreneur, entrepreneur’s business sense, his/ her ability to identify business opportunities, etc. Moreover, it also aims at certifying individuals through training on other important facets such as opportunity recognition, the dimensions of starting a new business, conducting business operations, fostering marketing and sales, and coping with the finances of the company in the financial management curriculum.