Assistant Professor
Entrepreneurship is no more an alien term as new upcoming ideas can be seen getting converted into innovative business everywhere. Evidences document that many bright minds had declined the high pay cheques of existing business firms to pursue their dream. They have the passion to see their brain-child being converted into a profitable business. Of course, it doesn’t come that easy as it sounds. Entrepreneurship might see glorious to the out-looker yet, the kind and degree of labor which goes into it unfathomable. There are numerous examples of successful enterprises been set up by an innovative mind leading to massive financial turnovers and employment. However, the spark of micro-enterprises set up by micro-entrepreneurs is no less.
Micro-entrepreneurship can be understood as a concept where an individual who is regarded as an entrepreneur work as an independent professional or self-employed worker. In this case, the entrepreneur might not be able to generate employment for others as usually, microentrepreneurs provide services based on their skill. It could be even regarded as a form of freelancing. Some of the advantages of micro-entrepreneurship include self-employment. Now, the skilled worker would not be at the mercy of any employer. Rather, based upon his skill-set, he can generate work and earn money. Also, financial independence provides a sense of entitlement to the individual. There is a sense of liberation and self-confidence which is experienced. Ultimately, micro-entrepreneurship can be regarded as a very successful form of entrepreneurship as it doesn’t require huge capital and can even be started with limited resources.
Some of the instances of the popularity of micro-entrepreneurship could be in the form of services that are provided by individuals based on their skills. Recent popularity of mompreneurs, teacherpreneurs, health coach, business guru are some of the vivid examples of micro-entrepreneurship.Though, it doesn’t promise the generation of employment for masses or a number of individuals yet, it can provide a source of income to individuals. So, a realization following this concept is the significance of skill building. Thus, in order to get engaged into entrepreneurship, now a person doesn’t always have to wait for an investor or venture capitalist. If an individual is equipped with a particular branch of knowledge and skills, he can easily be an entrepreneur. Also, when a skill is referred, it need not necessarily be technical or educational in nature. Various examples of micro-entrepreneurs can be seen in the form of females having good cooking skills, baking skills, gift-packing skills, trousseau making skills and various other creative skills. Such entrepreneurs are well practicing micro-entrepreneurship and gaining name in the society.
Undoubtedly, micro-entrepreneurship has opened doors for various individuals who had a passion to start something of their own yet, were unable get formal funding. Therefore, in such situations, they could easily get work and provide goods and services to the customers without much complexity or hassles. Thus, though the scale of revenue generation in the case of micro-entrepreneurship might not be very huge initially. Yet, once the business grows and as per the situation, these entrepreneurs can form their business enterprises. That is how microentrepreneurs can transform into business entrepreneurs providing employment to other people. Hence, it could actually witness a transformation dependent upon its success. Considering the current scenario, micro-entrepreneurs seem to form a major proportion of entrepreneurial contribution. In fact, in the light of the level of awareness and promotion given to entrepreneurship, such initiatives by individuals could be really productive not only to them but to the society at large.
Dr. Tanvi Gupta
Assistant Professor
