The first generation business ventures are started or proposed by:
(a) Individuals who have put up around 10 years experience in a particular profession and would like to start a venture.
(b) A Group of freshers who intend to experiment their skills and talent
(c) Individuals who have support of parents in terms of investment
(d) Individuals who lost their job and unable to bear the prolonged gap of unemployment
The investment capacity of these people would generally be around Rs.25.00 lakhs to start a small business excepting the one supported by parents.
The options to be judged before starting a venture:
(i) Manufacturing the proposed product
(ii) Acquisition – acquiring a sick unit or any industry engaged in similar activity
(iii) Trading the proposed product
(iv) Retail – setting up a retail shop
The above activity should be taken up with thorough market research with the help of a consultant or personally.
Let us again discuss on the small business opportunities in the next posting.