1 Introduction

This Report aims at Studying Entrepreneurship in a specific manner which can guide someone to analyze & Grow Business Opportunities in competitive world. Entrepreneurship has risen to a peak level in recent few years due to competitive environment in Business Sector. Small Scale Industries are increasing day by day and giving hard competition to large scale Industries. Aim of this Project is to study what makes an entrepreneur a successful.

The term entrepreneur is a loanword from French and was first defined by the IrishFrench economist Richard Cantillon as the person who pays a certain price for a product to resell it at an uncertain price, thereby making decisions about obtaining and using the resources while consequently admitting the risk of enterprise. The term first appeared in the French Dictionary "Dictionnaire Universel de Commerce" of Jacques des Bruslons published in 1723. Here are some prominent definitions. 1803: Jean-Baptiste Say: An entrepreneur is an economic agent who unites all means of production- land of one, the labour of another and the capital of yet another and thus produces a product. By selling the product in the market he pays rent of land, wages to labour, interest on capital and what remains is his profit. He shifts economic resources out of an area of lower and into an area of higher productivity and greater yield.

Entrepreneurship is the act and art of being an entrepreneur or "'one'who undertakes innovations, finance and business acumen in an effort to transform innovations into economic goods". This may result in new organizations or may be part of revitalizing mature organizations in response to a perceived opportunity. The most obvious form of entrepreneurship is that of starting new businesses (referred as Startup Company); however, in recent years, the term has been extended to include social and political forms

of entrepreneurial activity. When entrepreneurship is describing activities within a firm or large organization it is referred to as intra-preneurship and may include corporate venturing, when large entities spin-off organizations. Characteristics of Successful Entrepreneurs 1. Do what you enjoy. 2. Take what you do seriously. 3. Plan everything. 4. Get to know your customers. 5. Build a top-notch business team. 6. Create a competitive advantage. 7. Build a rock-solid reputation. 8. Master the art of negotiations. 9. Design Your workspace for success. 10. Follow-up constantly.

Opportunities :

Free entry into world trade. Improved risk taking ability. Governments of nations withdrawn some restrictions Technology and inventions spread into the world. Encouragement to innovations and inventions. Promotion of healthy completions among nations Consideration increase in government assistance for international trade. Establishment of other national and international institutes to support business among nations of the world. Benefits of specialization. Social and cultural development

Challenges:

Problems of raising equity capital Difficulty in borrowing fund. Thought-cut completions endangered existence of small companies. Problems of availing raw-materials. Problems of obsolescence of indigenous technology

Increased pollutions Ecological imbalanced. Problems of TRIPS and TRIMS. Exploitation of small and poor countries, etc.

India Offers Vast Opportunities for Today, India has adapted to the growing knowledge orientation in each industry and would certainly be a leader in the R&D for many industry verticals. And at the same time, a knowledgeable worker is also an inevitable necessity in every sphere of industry, and this is where the India scores. The social disparities in India are a key driver for intense competition among individuals - contributing to higher productivity professionally. Indias vast talent pool with a unique combination of multi skilling and English language ability has made a great value proposition to any investor. In addition, a stable political system, growing consumerism, investor friendly environment, vast growth opportunities in critical sectors like health care, utility, infrastructure together make India a valuable opportunity for investment and growth. In the global technology space, the Advantage India is being a nascent hub of knowledge industry. While this is established in the IT space, India will surely go a long way in establishing R&D capabilities in bio-technology, space, materials and agriculture. Also, the demands of a vast urban/rural population will drive innovative technologies being created or adopted in utility services, housing, infrastructure and healthcare. However, during the last decade, India has been growing at break neck pace, and needs to adapt to a more stable growth and outlook. IT Services space has a good potential though it has lost its sheen as a high growth industry during the last two years. Rapid urbanization and consequent social inequalities are what need to be addressed for making it just and equal to a larger section. Also, in the pursuit of being a hub of R&D for global technology space, what are needed to develop the abilities would be - the initiatives from the Government in encouraging higher education/career prospects in research. But, on the other hand, we should agree that we are a young nation having already made a mark in the world of entrepreneurship with several Indian companies or persons of Indian origin leading quite a few companies in the world across a varies spectrum. It is remarkably noted that India has been successful in creating employable manpower. However, the Indian entrepreneurs have been largely benefited with a slew of opportunities, which came their way as part of economic surge. But, we need to create a breed of entrepreneurs who look forward to a strenuous path of research and development in new areas. Although it was pretty much easy creating or utilizing an opportunity in IT industry, but the growth cycles are much varied and slow in other sectors and hence this eco system needs to be nourished, incentivized and recognized socially, economically and nationally.

With a rosy expedition ahead for India, we believe IT services industry should focus on creation of products from out of the services they have been rendering subject to IP rights in such projects. This would not just facilitate better productivity, but go a long way in contributing to low cost products/services, which are the target of SMB. While India has seen good revenues from overseas operations/customers, we should also start addressing the needs or demands of Indian market, which could largely be driven by SAAS models or a hybrid of SAAS and traditional models of service.