Why aren’t there more entrepreneurs?
A few days back, I had a conversation with a highly experienced CEO who had started his company more than 3 decades back. He had this to say:
When we started our industry, it was extremely difficult to bring foreign technology into India. If I required one, then I had to:
- Advertise that I required such technology product in about 40-50 business magazines so that Indian dealers could contact me first.
- Wait for some 40 day period in order to give the Indian dealers time to reply me back.
- Provide a detailed explanation to the government licensing authority on ‘why none of the Indian technology is suitable for my purpose’.
- Be at the mercy of the licensing authority for days together to obtain permission.
We used to wait for months to get permission.
In spite of such difficulties, people did business in India during those days and made it big. Those days are long gone now. There is almost nothing which stops one to do business in India now. Then, what stops more people to choose the entrepreneurship path?
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