Anticipation of startups in Kashmir
By: Mir Neelofer Naaz/ Dr Farkhanda Rahman/Mir Muskan un Nisa
Success is not final, failure is not fatal, it is the courage to continue that counts -Winston Churchill.
The word entrepreneurship investigates the alacrity to inaugurate business, company or organization. Entrepreneurship confines self-employment that begets the job contingency for others. It is the most potent manner of establishing both novel enterprises and innovative products and services in market. A holistically acknowledged source of employment creation is entrepreneurship development.
Entrepreneur is someone who doesn’t wait for opportunity but creates it. The word entrepreneur has been pedagogical in business during 18th century by French economist Cantillon. It was considered by many sociologists and economists that entrepreneurs are born not made.
Startups execute a key function universally for growth and industrialization of economies. The rudimentary denotation of startup is to come up with cardinal structure to economy thus contributing to the well- being of people.
In this essay it is arguable that Kashmir can prove a successful platform for the entrepreneur startups due to its resilient climate and diverse topography.
Kashmir is copious with human and natural resources, perfect usage of which metamorphose the economy into developed one. There are incredible business opportunities for students of agriculture and allied sciences. Kashmir being a region situated on high altitude and having mineral rich soil, has a great potential for agriculture and farming related startups. Organic vegetable garden and fruit farming, lavender farm business with low investment for essential oil production, bat and band saw industry, ayurvedic marketing company and animal health companies, are some of the unexplored sectors of business opportunities in valley.
Kashmir has a priceless affluence of livestock in the form of cattle, sheep, goats and poultry. Sheep farming carried out for meat and wool, goat farming for harvesting milk, meat and fiber, cattle farming filled with opportunities from dairy and beef to selling calves for shows at local fairs, are some of the lucrative business opportunities. Poultry farming is one of the most profitable business entailing raising of domestic birds premeditatedly for meat and eggs with easy marketing and higher returns within shortest period of time.
We can exercise rearing of silkworms for production of raw silk which encompass mulberry farming for leaf production, silkworm rearing and cocoon production, and weaving of silk fabric. Proper business model and strategic planning make aquarium business profitable. Fish farming is yet another opportunity involving raising of fish in tanks or enclosures usually for food. Flowers are the natural tranquilizers, cultivation of flowering and ornamental plants for gardens and floristry can be a handsome supplementary income. A growing number of people in Kashmir prefer freshly squeezed juice or juice bottled without added coloring, flavors and preservatives making this a great business opportunity.
Despite uprisings, turmoil, lockdowns and internet gag, industrial sector creeps to grow and there is still obligation of more industrialization to divulge the economy from the backwardness. The taxing unemployment rate is one of the significant bother for people of Kashmir. Had it been supervised by senior citizens of Kashmir in earlier years, the horrible unemployment storyline that youth face today perhaps would not have made an appearance.
The fundamental problem faced in initiating the business here is dearth of knowledge, actual counselling and training. Citizens are in dire need of skills. Inhabitants here completely rely on government jobs. People living in Kashmir still have not evaded the mindset that encourages business. Parents are frightened of business failure. It is a crucial provocation to persuade parents. Commencement of business dictates sustenance from government, financial and nonfinancial organizations but government don’t seem to be showing solemnity with regard to administering district industry centers to furnish timely financial support to the aspiring entrepreneurs of Kashmir.
One of the common refrains to start a new business is lack of financial support. JKEDI plays an important role in growth and development of entrepreneurship in Kashmir. It has noticed that investors in Kashmir are worried about their returns and concept of financing is still unfamiliar to startups in the region.
Just another hurdle in setting up of business in Kashmir is lack of infrastructure, absence of basic necessities like electricity and transportation. Infrastructure has an important role to play in abidance of venture. In present framework political uncertainty is a trouble for startups, due to abiding shutdowns and curfews business in Kashmir is badly affected thus, becoming a stumbling block for new set ups. It is the time to build a powerful economically enthralling thriving Kashmir for Kashmiris by Kashmiris.
– Mir Neelofer Naaz is Masters in business administration; Dr Farkhanda Rahman, Research scholar at FVSC and AH SKUAST Kashmir and; Mir Muskan un Nisa is Research scholar at Faculty of Forestry SKUAST Kashmir
