Need to Get Over Fortune 500 & Look at Fortune 500000
There is no doubt that everyone wants to work in a firm listed in the list of Fortune 500 as these are some of the best performing companies around the globe with highest revenue and/or profit.
Collectively, these firms have employed over 28 million people. But the question is can they provide employment to everyone, can they solve the problem of unemployment or how much job opportunities such firms create in terms of percentage every year.Need To Get Over Fortune 500 & Look At Fortune 500000 @Bizztor_IN Click To Tweet
Well it is much lesser than the rate of rise in unemployment. Maybe to solve this problem, we need to look in some other direction such as Fortune 500000
GDP in India is continuously increasing but we are not able to get the unemployment rate down. Approximately 25% of the India’s youth is unemployed. Fortune 500000 could be a solution to this.
It means to create 500000 micro entrepreneurs every who will have the power to provide employment not only to themselves but also to lakhs of people which will work under them. Micro entrepreneurs or such firms have more potential to grow and create employment opportunities in an economy as compared to big organizations or MNCs.
Well said by Nobel laureate Yunus that employment creates unemployment, create micro entrepreneur instead. Companies in the list of Fortune 500 can work for developed economies like US where the population is quite reasonable but not in India where there is an overflow.
If this nation wants to employee each and every individual then encouraging entrepreneurship is the way to do it.
India is a diverse country and why not make the use of its population. Why work under somebody when one can easily earn by being an entrepreneur.
Entrepreneurship plays a crucial role in economic growth of a country and Indian government is supporting it as well. Entrepreneurs are the job creators which can help any economy to solve the problem on unemployment.
Yes, we need startups or micro entrepreneurs. We do not want a person to join already established family business but rather to create a new startup that builds more job opportunities. And Government of India is working to encourage startups.
Digital India, Startup India, Make in India etc. are some examples of the initiatives to promote entrepreneurship and startups in India.
Basically, Startup India is a campaign based on an action plan and aims at promoting the startup ventures to encourage entrepreneurship and boosts job creation. It has benefited a lot to the startups by making process simple and quick. Now, with this app, startups can easily register them and get easy access to funds.
Digital India is yet another campaign launched by an Indian government so as to facilitate the citizens of India and to offer them services online. Startup India operates in the online mode and thus it is incomplete without Digital India.
India is a country with millions of population and here big organizations might not be enough to satiate the needs of employment. If India wants to achieve the desired growth then it is important to uproot the problem of unemployment.
We need to move over Fortune 500 and look to create Fortune 500000. India has undoubtedly the capacity to create 500000 micro entrepreneurs or startup owners to decrease the rise in unemployment.