The definition of the young entrepreneur (Male and Female) means - business owners between the age group of 21 and 45 years, youth-owned Small and medium-sized enterprises (SMEs) or independently owned businesses as Partnership or Proprietorship and entrepreneurs involved in business as Director, Chairman, MD in Corporate or Multinational.
Also the entrepreneurs above 45 years will be defined as senior entrepreneurs who will be mentors of the young entrepreneurs for day-to-day guidance by providing assistance for better growth. The involvement of senior entrepreneurs will be useful to the young entrepreneurs for decision making and risk management.
The Federation provides opportunity to the young and senior entrepreneurs to come together for enhancement contacts and to exchange business information for better growth.
The Entrepreneurs play a very important role and make commendable contribution for the development of the Nation. They put efforts for economic growth of the country, provide employment, educate and convert unskilled workforce into skilled ones, adopt, exchange new views, ideas, concepts, technology and innovations for the growth of their business.
The young entrepreneurs start their small ventures having potential of becoming large companies in future, if they get a proper support and assistance. In India the business success is dependent on the education, knowledge, experiences, financial support, market access and a good set up. Also businesses should not depend only on Government support.
Young entrepreneurs exposure to the various aspects and intricacies of business environment is insufficient and hence they face innumerable problems relating to the finance, marketing and other functions of business.
The entrepreneurs need more capital for their expansion activities. Many entrepreneurs have technical knowledge about their business but usually are not capable to get finance from Banks and Financial Institutions due to insufficient exposure to financial management. The young entrepreneurs also have to face tough competition. They have to overcome many obstacles through various strategies for survival and growth. They also face other problems like dealing with Government Departments, Labour, getting correct raw materials, logistics and transportation, quality control etc.
The entrepreneurs will be assisted by the SME Chamber of India in their start up and implementation processes with information, advice and guidance at every step through consultancy and mentoring services.
A separate Cell will be dedicated for developing women entrepreneurs and family run businesses.
Special training programmes will be organised at regular intervals to assess the needs of the entrepreneurs and suggest suitable actions.