Business and enterprise is at the heart of economic development and progress. With the technological revolution hitting India, new start-ups have mushroomed all over the country and the common man can aspire to create his own financial means instead of hunting for employment. More and more people are venturing out to set up their own businesses in Haryana these days. But the business environment in the state leaves a lot to be desired.
Start-ups in major cities
In the state of Haryana, the major cities such as Gurgaon, Faridabad and Rohtak are the most conducive for setting up new ventures and start-ups. Newer businesses are springing up in Gurgaon the wave of urbanisation has led to the rise of a new generation of businessmen who are enterprising and unhesitant in venturing out. The story of Gurgaon has, however, not inspired the rest of the state. Faridabad, and to some extent Rohtak are better suited to start-ups and new ventures. The rest of the state, especially the rural sectors, is wasted with potential languishing due to the lack of support of the state administration.
Haryana's immense untapped potential is in its home industries and small- scale sectors. From dairy processing to indigenous textile and art - each of Haryana's legacy has the potential to explode into a successful business venture. The state's efforts to craft business ventures out of these have sadly been inadequate. Artisans and producers of the state, especially in rural areas are still being exploited by middlemen who retail the products for an immense profit.
The state has a huge potential to grow in the service industry. The youth of Haryana require vocational training and financial aid to set up businesses. The number of government-aided institutions promoting vocational studies in the state is inadequate and very scanty in comparison to the number of skilled young men and women in the state. Poverty and lack of education are two major inhibiting factors obstructing the rise of many more entrepreneurs from the state.
In need of aid
More schools and higher education and vocational training institutions are the prime need of the state. The state government must focus efforts on lending encouragement and finance for new start-ups to flourish in various industries and sectors. To encourage more young men and women from the state to set out on the road to entrepreneurship and turn job-providers instead of job-seekers, the government needs to create awareness among the low-income rungs of society about the potential of setting up ventures. Change in policies of banks and financial institutions lending the capital for new ventures must be ushered in and regulations conducive to obtaining financial assistance for starting businesses.
To keep the spirit of business, trade and enterprise flowing in the state, it is imperative that Haryana be a state that welcomes investments and supports entrepreneurs with an environment conducive to establishing start-ups. Our state needs more businesses, more ventures, more enterprises, and most importantly better-skilled human capital.