PREPNOTES

  Researchers who have studied entrepreneurial behaviour suggest that there are different types of entrepreneurs. Classifying entrepreneurs into various categories is a tricky issue. The taxonomy of entrepreneurs can be carried out in various ways. Entrepreneurs can be classified on various basis. Clarence Denhof Classifies entrepreneurs on the basis of stage of economic development: some others have classified on the basis of their functions and characteristics. In the initial stages of economic development, entrepreneurs tend to have less initiative and drive. As development proceeds, they become more innovating and enthusiastic. The various types of entrepreneurs are classified on certain parameters. Some important classifications are described below: 1. On the Basis of Economic Development: Clarence Danhof classified entrepreneurs into four groups on the basis of economic development. A. Innovating Entrepreneurs : This type of entrepreneurship is characterized by aggressive a...

  Who are Entrepreneurs??  Entrepreneurs are driven individuals who possess a combination of creativity, vision, and determination. They spot opportunities in the market and are willing to take calculated risks to bring their ideas to fruition. They often display resilience in the face of challenges and are constantly seeking ways to innovate and improve their businesses. Entrepreneurs are not only business owners but also change-makers, contributing to economic growth and societal progress through their ventures. Overall, entrepreneurs play a vital role in driving economic development, fostering innovation, and shaping the future of industries and societies. Entrepreneurs are not just business owners; they are also creators, problem solvers, and drivers of change. They often spot opportunities where others see challenges, and they have the courage to act on their ideas.  Entrepreneurship isn't just about starting a business; it's a mindset and a way of approaching proble...

    Introduction   “The various forms of business ownership are as such children whose father is Economic Expediency and whose mother is the Law.”   –  L.H. Haney   To initiate any entrepreneurial activity, an entrepreneur has to select a form of business ownership. In other words, one of the first decisions that an entrepreneur has to take as owner is, how the enterprise should be structured or through which form of ownership it would operate? The forms of businesses are associated with ownership which determines the authority and responsibility of the owners. In practical, the forms of business ownerships are those legal forms according to which an enterprise/business is organised and run. Hence, the legal form of business ownership is called the form of business ownership. The other parties recognise an enterprise and its existence through its form. Choosing the appropriate form for any entrepreneurial activity is very ...

     Institutions of Govt. of India:- A number of support institutions set up by central and state governments help the entrepreneurial activities in various ways. The activities cover a wide range of services like financing, technical guidance, equipment support, training, marketing and providing subsidy and grants. The following institutions are available for providing the above mentioned benefits. Financial Institutions:- Industrial Development Bank of India (IDBI) Industrial Finance Corporation of India (IFCI) Small Industries Development Bank of India (SIDBI) National Small Industries Corporation Ltd (NSIC) State Small Industries Corporation (SSIC) Regional Rural Banks (RRBs) State Financial Corporation’s (SFCs) State Industrial Development Corporations (SIDCs) Cooperative Banks and Gramin Banks Institutions for technical guidance:- Small Industries Development Organisation (SIDO) District Industries Centres (DICs) Technical Consultancy Organisations (TC...