[vc_row][vc_column][vc_column_text]This is the perfect time for a youngster in Karnataka to start his own enterprise. The Siddaramaiah Government has announced a number of Schemes to encourage and promote entrepreneurship and motivate the youth to start their own Start-ups, said Sri R. Krishnamurthy, President, PIA addressing a gathering of Students at Sambhram Institute, Bengaluru as the Chief Guest.
Describing the students as the Future of India and more importantly, belonging to the first generation which will live its most fruitful years in the India, which will be a Superpower in the next decade or so, he encouraged them to embrace change and not fear it.
In an inspiring address, he said, “The first thing that most of you will be seeking is of course, a Job. Today there is a lot of talk about Jobless Growth. This means that while the economy has been growing quite healthily, not many jobs are being created. As far as the growth of the economy is concerned, India is today the fastest growing economy in the world. But not enough jobs are being created because of various reasons. At the outset you should understand that Government cannot be the only source for Job creation. So this means it is the private sector which can create Jobs but the private sector can do so only if more people enter it as Job creators rather than Job seekers.”
“In other words, when you go out of college, why should you only limit yourself to going in search of a Job? Why should you not explore the chances of becoming a Job creator, that is starting a business enterprise of your own, rather than being a Job-seeker?”
Drawing on his own experience, Sri Krishnamurthy admitted that being an entrepreneur is not an easy road to take. “It will be tough ride initially, but once you weather it, there are many rewards that await you. The pleasure of being responsible for the livelihood of people working under you cannot be fully explained. You will know it only when you experience it. A successful entrepreneur is looked upon with regard by society. You can also take pride from the fact that you are contributing to the economy of your State. In many ways, becoming a successful entrepreneur is like climbing the Mount Everest. For you face so many challenges on multiple fronts and when you are able to overcome them all, it is almost equal to scaling Mount Everest,” he declared.
The PIA President told the students that the Peenya Industries Association had made some suggestions to the Government in our Pre-Budget Memorandum, which had been graciously included in the Budget presented by Hon’ble Chief Minister Sri Siddaramaiah, and gave them an idea about the opportunities and incentives available to them to start a business enterprise of their own:
For instance, the State Government provides industrial land in KSSIDC/KIADB industrial estates up to 2 acres on 10 year lease cum sale basis. Earlier it was 99 year lease policy which was very unhelpful and opposed by PIA.
Secondly, women have a wonderful opportunity to enter into business as they can avail a loan up to Rs 2 crore at only 4% for setting up their own enterprise. The limit earlier was Rs 50 lac which has now been enhanced to Rs 2 crore.
Further women entrepreneurs enjoy 5% reservation in all Industrial Estates established by KSSIDC/KIADB. In addition to this, the State Government is also coming up with exclusive Industrial Parks for Women Entrepreneurs only in places like Harohalli, near Bengaluru.
Entrepreneurs belonging to SC/ST can avail of Industrial Sheds in KSSIDC/KIADB Industrial Estates at a discount of 25% less than the cost of the Industrial Shed.
Also, Subsidy is available under the Prime Minister Yojana Scheme, in addition to easy loans available under Pradhan Mantri Mudra Loan Scheme.
The State Government also has a very good Exclusive Start-up policy which offers various incentives to anyone who wants to set up a Start-up, including funding assistance, handholding, mentoring, facilitating marketing, etc.
Recently, the State Government announced its plans to select 100 innovative Start-ups that are most likely to scale fast and profitably, and help them in their progress. The selected Start-ups will be eligible to get guidance, consultancy, patent filing facilitation, legal assistance and funding.
Summing up, he assured the young gathering that Peenya Industries Association will always be there to support, guide and handhold them if they wish to start their own business enterprise.[/vc_column_text][/vc_column][/vc_row]