NOLEGEIN- Journal of Entrepreneurship Planning, Development and Management

Scaling Startups: Challenges and Opportunities in Global Markets

Sanjit Patil — Thu, 16 Jan 2025 00:00:00 +0000

Scaling a startup to operate in global markets involves navigating significant challenges and seizing valuable opportunities. One of the primary challenges is adapting to different cultural, regulatory, and economic environments. Startups often struggle to understand local consumer behaviours, which can impact their product-market fit. Additionally, dealing with diverse legal systems, tax regulations, and import/export restrictions can be costly and complex, necessitating significant investments in compliance efforts. Another hurdle is the competition from local businesses and established multinational corporations, which typically have more resources, greater brand recognition, and a deeper understanding of the local market. To stand out, startups must be agile and innovative, leveraging unique value propositions to attract and retain customers in competitive markets. However, scaling globally also presents substantial opportunities. Expanding into international markets enables startups to reach new customer segments, driving revenue growth and accelerating expansion. Access to broader markets provides diversification, reducing the risks associated with reliance on a single market. Additionally, global expansion creates opportunities for new partnerships, funding sources, and access to a wider talent pool, which can further boost innovation and operational efficiency. To overcome these challenges, startups should focus on developing scalable business models, forging strong local partnerships, and maintaining flexibility. With the right strategies and resources, global expansion can become a key driver of long-term success and sustainability

An Overview of the Development of the Indian Startup Ecosystem for Training Young Entrepreneurs

Avani A. Patel, Kinchit P. Shah — Wed, 15 Jan 2025 00:00:00 +0000

India is a developing South Asian country. It is the most populous and seventh-largest country by area. A huge population indicates a vast potential market in India, which puts further pressure on employment in the country. In addition, India has a rapidly growing youth population. Young people are constantly coming up with new and innovative ideas, and those ideas must be transformed into job creation. In the current decade, India is making a significant change toward startup-friendly legislation and a business-friendly atmosphere. India is a populous country with expanding demand, creating a competitive atmosphere that forces the development of innovative systems. One of these systems is the startup ecosystem. This study aims to discuss the growth and possibilities of startup ecosystems. India's competitive market environment has increased demand for creative business models and solutions, giving startups the chance to tackle urgent social and financial issues. The startup ecosystem has thus become a key force behind employment creation, technical advancement, and economic growth. Examining the startup ecosystem's growth trajectory, its potential for transformative influence, and the opportunities and constraints it faces in influencing the nation's social and economic development are the objectives of this study. By exploring these facets, the study aims to shed light on how India's entrepreneurial environment may develop further and support its standing as a major economic force in the world.

Inclusive Workplaces: Building Diversity and Equity in a Fast-Changing World

V Basil Hans — Tue, 31 Dec 2024 00:00:00 +0000

Building inclusive workplaces promotes innovation, creativity, and organizational success in today's fast-changing global market. Diversity, equity, and inclusion (DEI) in organizations requires certain ideas and practices, which this article discusses. Businesses' challenges and potential in fostering diverse settings are examined. Companies can empower every individual to reach their full potential by addressing unconscious prejudices, establishing equitable policies, and fostering an inclusive culture. The study also discusses DEI trends, leadership's role in change, and the need for constant learning and flexibility. Inclusive environments improve employee satisfaction, retention, business outcomes, and long-term success. Businesses may enable people to realize their full potential and prosper by tackling these issues with fair policies, inclusive leadership, and proactive culture changes. The study also emphasizes the significance of ongoing learning, the role that leadership plays in bringing about change, and the adaptability needed to meet changing social norms. Additionally included are trends like technology-driven inclusiveness initiatives, global DEI standards, and the growing emphasis on intersectionality. Inclusive workplaces promote decision-making, innovation, and corporate performance in addition to increasing employee engagement and retention. This strategy is essential for keeping a competitive edge in the global market and guaranteeing ongoing growth

Building Resilience in the face of Economic Uncertainty: Pathways for Sustainability in the Professional Roles of Quantity Surveyors

Amadi Alolote — Tue, 31 Dec 2024 00:00:00 +0000

Building resilience, driving innovation, and promoting growth in Quantity Surveying is a necessary and unavoidable knee-jerk reaction to the uncertainty, volatility, and turbulence being experienced in the Nigerian economy. The uncertainty, volatility, and turbulence being experienced in the Nigerian economy are further amplified by global trends and shifts in international policies underlain by environmental sustainability issues bordering on Climate Change and Resource scarcity. Particularly, policies on climate change are influencing practices across industries, including construction, which mostly relies on deploying the earth’s finite resources. Given the finite nature of the earth’s resources, there is a growing emphasis on the patterns of material consumption in construction, with an increasing emphasis on using materials that are renewable, recyclable, or have a lower environmental impact. The onus thus lies on Quantity surveyors to take decisive action to adapt and build resilience in their professional practice, as a just-in-time response, needed to survive the turbulent economic uncertainty of Nigeria and align with global policy changes. To build resilience in the face of the conundrum of uncertainties and changes implies that Quantity Surveying professionals, including those in academics, private practice, government, and industry must consider the environmental impact of materials and methods used in their projects. This paper seeks to address these issues and proffer pathways for unlocking the Potential of Quantity Surveying in Sustainability, Environmental Stewardship, and Social Responsibility.

Prioritizing Mental Health or Market Success: A Contemporary Analysis of Challenges Faced by Depressed Entrepreneurs

SAMPATH KUMAR, LAKSHMINARAYANA K — Sun, 29 Dec 2024 00:00:00 +0000

Since innovation is at the centre of economic development, innovation drives stress, anxiety, and burnout that have antecedents in negative consequences for the welfare of the innovating entrepreneur and the survival and sustainability of the business. This research provides an understanding of the correlations between mental health and entrepreneurship with a demonstration on need to treat mental health disorders in entrepreneurship. The structured questionnaires and open-ended questions mixed with a total of 86 small entrepreneurial participants from different sectors answered research questionnaires alongside quantitative ones. For the comparison purpose chi-square, T-tests and ANOVA were used and regression techniques were used to determine if dynamic variables interacted with quantitative data path analysis also determined that stress was as a result of financial problems, long working hours, lack of resources and more. To mitigate these challenges, it also established what requires to be done to reducing them which include mindfulness, peer support and flex work plans. This paper emphasizes awareness of the fact that the existence of mental health disorders negatively affects the performance and sustainability of an enterprise and the utilization of goal directed strategies becomes a crucial solution to this determination. It reaffirms this research’s findings about the requirements for systemic interventions and the development of targeted strategies for managing mental health as a critical precondition for sustainable entrepreneurial activity in the context of global changes while providing policymakers, entrepreneurs, and academics with novel, practical recommendations

A STUDY ON ROLE OF COMMERCIAL BANKS IN PROMOTING ENTREPRENEURSHIP

Suryakumar N Khanai, Achyut Jonganavar — Thu, 26 Dec 2024 00:00:00 +0000

Indian economy is favourable towards the development of entrepreneurship as both central and state governments have initiated a series of entrepreneurial development programs with an aim to generate employment and economic development. The policies such as make in India, made in India, startup India, standup India etc are aiming to help the entrepreneurs in promoting their business. The current study aimed to measure the entrepreneurs’ perception towards the role of commercial banks in promoting entrepreneurship. Entrepreneurs from Belagavi district of Karnataka state have been taken as respondents for the study. The study is based on both primary and secondary data. A total of 60 entrepreneurs were given a questionnaire on a 5-point Likert scale. Convenience sampling was used to collect data from respondents. Descriptive statistics and the one sample t-test were used to assess the data. The results of the survey demonstrated that the financial services of many commercial banks are having difficulties. Accessing these facilities is proving to be challenging for entrepreneurs. They find the penalty procedure and application process challenging. In order to support entrepreneurs, commercial banks must implement vigorous awareness campaigns about financial services and banking procedures