Abstract
This paper aims to identify the importance of Information Technology businesses and youth's interest in entrepreneurial initiatives in connection with IT based businesses. The data was collected using questionnaire from final year students of entrepreneurship and computer sciences enrolled in Bachelors, so as to get a profound picture of their intention, motivation and ability to enter in IT related entrepreneurial ventures. As descriptive statistics was used to analyze the findings, the study depicts great motivation among final year graduates to enter in entrepreneurial ventures. They are found to be motivated to establish ventures of their own even at small level. Therefore, SMEs can play vital role in assisting and fostering entrepreneurial activity with special focus on Information Technology businesses. In addition, the research limitation could be the fact that data has been collected from top universities/ institutes in which intellect level of students is competitively high, thus their liking to entre and understanding regarding SMEs and entrepreneurial initiatives is better than students of ordinary institutes. Also, the results could have been deviated if same research was applied in countries with varying demographics. As for practical implementations, the research may be vital for SMEs officials to foresee the entrepreneurial spirit among youth and to design policies accordingly. Also, it opens horizons for information Technology students to consider entrepreneurial careers other than simply applying for jobs in software houses/ organizations. Also, no prior research has been carried out in analyzing the mutual relation of Entrepreneurship and Information Technology businesses, neither the outcome/ joint effect of both has been studied together.
Highlights
In the era of worsen economic crisis worldwide where financial institution are merging, industries are being downsized, productions are being minimized, as a response to which inflation is rising at a high pace, unemployment is becoming a world’s dilemma, money is losing worth, and in total giant economies are collapsing, there still exists a field/sector or an industry which is ever increasing since the time of its existence and even proving out to be a support to falling economies in this time of economic recession, i.e. Information Technology
Chain stores like Wall Mart and brands like Fiat and shell need great investments and involvement of high risks to be established, which in this vulnerable economic recession could be little undesirable to be taken in to consideration by shareholders, that’s why this tough era needs to be focused on safe play which is possible in the field of Information Technology, as this appears to be one of the solutions of all the modern economic crisis
Information Technology businesses can act as catalyst to economic growth
Summary
In the era of worsen economic crisis worldwide where financial institution are merging, industries are being downsized, productions are being minimized, as a response to which inflation is rising at a high pace, unemployment is becoming a world’s dilemma, money is losing worth, and in total giant economies are collapsing, there still exists a field/sector or an industry which is ever increasing since the time of its existence and even proving out to be a support to falling economies in this time of economic recession, i.e. Information Technology. Chain stores like Wall Mart and brands like Fiat and shell need great investments and involvement of high risks to be established, which in this vulnerable economic recession could be little undesirable to be taken in to consideration by shareholders (especially the mediocre), that’s why this tough era needs to be focused on safe play which is possible in the field of Information Technology, as this appears to be one of the solutions of all the modern economic crisis. Take an example of an unemployed person who has the opportunity to do free lancing by sitting at home, where his/ her investment could be less as compared to opening a grocery store in which the risk of losing money is high. Same goes with other comparative businesses as well as I.T related business leaves behind the centuries old established brands listed in NYSE/ NASDAQ (Ausick, 2015)
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