Entrepreneurship jobs growth iim indore, mar '13

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Information about Entrepreneurship jobs growth iim indore, mar '13
Business & Mgmt

Published on March 10, 2014

Author: Shantanu20

Source: slideshare.net

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A few slides on Entrepreneurship, Jobs and Growth that I shared at the Young Indians! meeting at IIM, Indore in March

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.orgSatyameva-Jayate.org On Entrepreneurship, Jobs and Growth.. Shantanu Bhagwat 31st Mar „13 Young Indians! @ IIM, Indore 1

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org 2Source: “Manufacturing, Farm and Services Sectors Tanking, Says CSO”, NitiCental, Feb „13

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org 3Source: “Manufacturing, Farm and Services Sectors Tanking, Says CSO”, NitiCental, Feb „13

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org Source: “A budget speech you will never hear: Gurcharan Das”, Feb „13 4 1% of GDP growth 1.5m jobs 1 direct job 3 indirect jobs 1 direct job supports family of 5 4% drop in GDP 120m in pain

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org 5Source: “Manufacturing, Farm and Services Sectors Tanking, Says CSO”, NitiCental, Feb „13

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org “…the phenomenal growth India..achieved during the last five years was jobless growth” 6Source: The Economic Survey, 2012-2013, Planning Commission, Mar ‟13; Image: Asianews.it

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org “..of the youth between the age group of 15-29 years, 26.9% neither working, nor studying and not even looking for a job”  Dr SK Sasikumar, National Labour Institute 7Source: India suffers from „jobless growth‟, says ILO, Feb „13

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org “Demographic Dividend” or “Demographic Curse”? 8

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org "We have about 550 million youths under 25 years of age.. ..(for them we).. need to create 15 million jobs annually..” 9Source: New Indian Express, Mar „13

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org 10

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org 11 5 billion people over 15 years old 3 billion are looking for work or are in work Only 1.2 billion full-time, formal jobs

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org Are we getting it wrong? 12

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org The Assumptions  “Innovation” is scarce  “Entrepreneurship is scarce… Great business people are more valuable and rarer than great ideas” 13Source: Jim Clifton, Chairman Gallup

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org The Assumptions  Focus on those who “need help” rather than those who can “offer help”,  Job Seekers vs. Job Creators  We have our assumptions..backward. The horse (SMEs) stopped, so we fix the cart (jobs)....We have our compassion right, but the logic is staggeringly stupid. 14Source: Jim Clifton, Chairman Gallup

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org What should we do? 15Image courtesy: cepolina.com Focus on the “horse” (SMEs)

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org 16 SMEs around the world..  In the UK, SMEs contribute 50% of the country‟s GDP and provide ~ 60% of total jobs  In the US, the sector contributes 50% to the country‟s GDP  In Japan SME contribution is even higher - 56.8% of GDP  In contrast, Indian SMEs contribute less than 20% of the total GDP

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org Unfortunately in India, the smaller you are, the more you suffer 17

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org 18Source: The Hindu, Jan „13

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org 19 This situation is not unique to street vendors

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org 20  First, you get a "No Objection" certificate from the Fire Department  ..followed by a Health license from the Municipal Corporation  Then you need three different police clearances  One from the police station in the area where the restaurant is located  Next from the police station in the area where the restaurant manager lives  ..then another one from the police licensing department Source: http://online.wsj.com/article/SB123451653488482115.html

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org Not done yet.. 21

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org 22  Next, you apply for Tourism & Excise licenses  The Excise license is issued only after approval from the Tourism department  Inspectors check out the premises and paste a notice at the restaurant inviting objections from the neighborhood  This is accompanied by the beating of drums – literally (!) Source: http://online.wsj.com/article/SB123451653488482115.html

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org By the way, the process can only start once the restaurant is ready to open! 23

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org Focus on SMEs Consider NIMZs 24 What should we do?

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org 25 NIMZ – what we need..  At its current stage of development, India needs to build a far more robust manufacturing sector that accounts for not the current 16% but a far larger 30+% of the country's GDP  Prof Anil Gupta, Chair, Strategy & Entrepreneurship, Univ. of Maryland  By eliminating much of the red tape and infrastructure bottlenecks, the NIMZs are likely to usher in a manufacturing revolution in the country Source: http://j.mp/WJNJQq

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org 26 “The only way to eliminate poverty is through the creation of jobs..” Source: http://j.mp/y60LeO

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org Unfortunately, India is not exactly a “friendly” place to start - or run - a business 27

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org  “11 steps to launch a business..  ..(taking) over 89 days on average” vs.  2 days in Australia..  8 days in Singapore Source: http://indiauncut.com/iublog/article/mommy-daddy-go-away/ 28

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org How bad is it?  For ease of starting a business, India ranks 166th out of 183 countries  It ranks 132nd out of 183 countries in terms of ease of doing business Source: http://online.wsj.com/article/SB10001424052970204479504576639233537716542.html 29

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org How bad is it?  On an average, it takes 7 years (yes, seven) to close a business in India  .. and 1,420 days to enforce a contract! 30Source: http://yourstory.in/2012/09/the-real-reforms-is-anyone-listening/

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org  Encourage sourcing from SMEs  Easier lines of credit*  Open up “education” to private enterprise ..especially vocational education & skills- based training  So that India‟s 550million youngsters grow up better prepared for tomorrow 31* Instead of the usurious 5%-6% a month small business often end up paying What else can be done?

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org 32 ..and finally, make the right choices..

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org 33  Digging Holes vs. Imparting Skills  Helping entrepreneurs instead of guaranteeing employment?  Creating vs. Distributing  Sense of Entitlement vs. Spirit of Enterprise?

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org How can you and me help?  Let them “fail”  Encourage them to take risks  Celebrate successes - and “failures”  Create role models; Celebrate “mavericks”  Change attitudes and culture  …and start them young.. 34

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org Two Keys to making India Rich & Prosperous: Entrepreneurship and Freedoms 35

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org What am I doing about this?  Encouraging Entrepreneurship  Mentoring  Coaching, Counselling and Workshops  Advising  Investing (not much any more)  ..in particular social ventures  Encouraging Freedoms  Political Activism, Raising Awareness, Strengthen the forces of “Good” 36

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org Join us on the web… 37

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org 3 ..on facebook

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org 3 ..and twitter.. twitter.com/satyamevajayate

Not to be distributed without prior consent © Shantanu Bhagwat Satyameva-Jayate.org 4 Jai Hind, Jai Bharat! twitter @SatyamevaJayate youtube youtube.com/JaiDharma facebook SatyamevaJayate.BShantanu blog Satyameva-Jayate.org Questions, Comments?

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