Entrepreneurship Mid
Submitted by: Noman Haider Raja (01-222182-022)
Submitted to: Sir. Umar Chaudhry
Essay
Reliance of digital technologies is expanding day by day. Now almost
every Industry, SME and Startups have online presence through which
they can reach the customer around the world, before that they only
had local presence. Also we are now facing a pandemic that is Covid-19,
due to which the use of digital technologies has even increased more
and more. One should take advantage of this situation and should make
online presence in the chosen industry, because we are now moving
towards digital age.
Let us talk about an industry which is all around the globe, and most
talked about industry, and industry which is widely spread over the
world and there are many startups and SMEs are there in this industry.
The industry I am talking about is fashion industry. Lets talk about what
fashion industry really is.
Fashion industry, multibillion-dollar overall endeavor provided for the
matter of making and selling articles of clothing. The style business is a
consequence of the propelled age. Prior to the mid-nineteenth century,
for all intents and purposes all pieces of clothing was high caliber for
individuals, either as home creation or on demand from dressmakers
and tailors. By the beginning of the twentieth century—with the rising
of new developments, for instance, the sewing machine, the climb of
overall free endeavor and the improvement of the mechanical office
game plan of creation, and the augmentation of retail outlets, for
instance, retail foundations—clothing had logically come to be mass–
conveyed in standard sizes and sold at fixed expenses. Disregarding the
way that the style business developed first in Europe and America,
today it is a general and significantly globalized industry, with attire
routinely organized in one country, made in another, and sold in a
third.
If we talk about SMEs in fashion industry, then we must know that
SMEs score very low in this industry. SMEs are the blind spot of fashion
industry. An away from of maintainability is organization size. Some
enormous endeavors and a couple of specialty players are adopting a
propelled strategy to supportability. Small and medium size enterprises
(SMEs), in any case, have the most minimal score.
Now let’s talk about startups in this fashion industries and how they
perform. Standing apart from the opposition is perhaps the greatest
obstacle new companies need to confront. What’s more, it’s a
proceeding with challenge that needs steady consideration and core
