Entrepreneurship – What’s Age got to do with it?

Is there any correlation between Entrepreneurship and Age? What is the ideal age to start a venture and scale to a billion dollar enterprise?

Early Executors

Age 17: Ingvar Kampard (1943) started IKEA

Age 18: Ted Waitt (1985) started Gateway

Age 19: Michael Dell (1983) started Dell; Joyce Hall (1910) started Hallmark Cards

Age 20: Mark Zuckerberg (2004 ) started Facebook

Age 21: Bill Gates (1976 ) started Microsoft; Steve Jobs (1976) started Apple

Age 22: Walt Disney (1923) started Disney, Richard Branson (1972) started Virgin

Age 23: Vishal Gondar (1999) started India Games

Age 24: Karsanbhai Patel (1969) started Nirma

Age 25: Larry Page (1998) started Google; Kiran Mazumdar(1978) started Biocon

Age 26: Uday Kotak (1985) started Kotak Mahindra; Phil Knight (1964) started Nike

Age 27: Jerry Yang (1995) started Yahoo; Sam Walton (1945) started Wal-Mart

Age 28: Pierre Omidyar (1995) started eBay; Ralph Lauren (1967) started Polo

Age 29 : Rajendra Pawar (1981) started NIIT;, Nolan Bushnell (1972) started Atari

Age 30: Jeff Bezos (1994 ) started Amazon

Age 31 : Shiv Nadar (1976) started HCL; Ramesh Chandra (1972) started Unitech

Age 32 : Oprah Winfrey (1986) started Oprah; Ross Perot (1962) started EDS

Age 33 : Warren Buffet (1963) started Berkshire; Larry Ellison (1977) started Oracle

Late Bloomers

Age 34: Charles Schwab(1971) started Schwab; S. Shetty(1993) started AllCargo

Age 35: NR Murthy (1981) started Infosys; March Benioff (1999) started Sales Force

Age 36: Dhirubhai Ambani (1958) started Reliance

Age 37: J Mckinsey(1926) started Mckinsey; Dave Thomas(1969) started Wendy

Age 38: Jim Clark (1982) started SGI

Age 39: M. Bloomberg (1981) started Bloomberg; Gorden Moore (1968) started Intel

Age 40: Martin Sorell(1985) started WPP;George Soros(1970) started Quantum Fund

Age 41 : Raman Roy ( 2000) Spectramind; Thomas Siebel (1993) started Siebel

Age 42 : Ajit Balakrishnan(1995) started Rediff;Reed Hastings(1997) started Netflix

Age 43 : Richard Egan(1979) started EMC; Naresh Goyal(1993) started Jet Airways

Age 44: Jerry Rao (1998) started Mphasis; Leo Burnett (1925) started Leo Burnett

Age 45 : Marry Kay Ash (1963) started Marry Kay

Age 46 : Capt. Gopinath(1997) started Deccan; Arthur Little(1909) started AD Little

Age 47: Rana Kapur (2004) started Yes Bank; G R Naidu (1985) started Amar Raja

Age 48: Bruce Henderson (1963) started BCG; KP Singh (1979) started DLF

Age 49: Vikram Talwar (1999) started EXL; Graeme Clark (1983) started Cochlear

Age 50: Leo Goodwin (1936) GEICO; Bernard Marcus (1979) started Home Depot

Age 51: Ashok Soota(1999) started Mindtree;Taikichiro(1955) started Mori buildings

Age 52 : Ray Kroc (1954) started Mcdonald; DS Barar (2004) started GVK Bio

Age 53: Barry Diller (1995) started IAC

Age 54: Prannoy Roy (2003) started NDTV

Age 55 : TMA Pai (1953) started Manipal University

Age 56: Anita Crook ( 2005) started Pouchee

Age 57: J Marriott(1957) started Marriott Hotel;J McGraw(1917) started McGraw Hill

Age 58: Orville(1969)started Redenbacher;A Hammer(1956)started Occidental Petro

Age 59 : Barbara Miller (1995) started Miller Papers

Age 60: Jack Fenimore (1983) started Mid Com

Age 61: Carmen Jones (1977) started Kids Corner

Age 62: Col. Sanders(1952) started KFC; Joseph Glidden(1875) started Barb Fence

Age 63: Henry Kaiser (1945) started Kaiser Permanente

Age 64 : Thomas Duck (1977) started Ugly Duck

Age 65: Capt. Krishnan Nair (1988) started Leela Hotels

Age 66 : Jagdish Khattar (2009) started Carnation

Courtesy: pluggd.in

Downloads for personal use to attract service tax in India

Next time you download a paid software application including games from a foreign supplier/Web site into your computer or to your mobile phone for individual use, you may have to pay a service tax of 10 per cent to the Government.

Till now, service tax was payable on electronic download of software only if they were intended for furtherance of business or commerce by the person downloading. The amendment in this Budget seeks to eliminate this pre-requisite.

What it means is that every download of software including gaming software, application software, mobile software etc for personal use would also be liable to service tax. This assumes more importance specifically when the supplier of software is overseas.

Mr N.R. Badrinath, a partner with a consulting firm Accretive Business Consulting, told Business Line that in case of downloads made available by foreign suppliers, under the ‘reverse charge principle’ the person downloading such software in India would need to pay the service tax at 10.3 per cent.

This means that even an individual downloading software for personal use would need to pay the service tax, seek registration under the service tax provisions and also file the statutory returns thereafter.

Non-compliance with the provisions could trigger interest and penalty. “This amendment brought in with respect to information technology software services will create a lot of hardships,” Mr Badrinath said.

Further, the Budget replaces the Customs/excise duty levy of 8.24 per cent on software imported for commercial exploitation with a service tax of 10.3 per cent.

Canned software

The only welcome news is that the Budget proposal does well to reduce the classification issues on packaged or canned softwares (off-the-shelf software). Canned software has been a matter of much debate and deliberation as far as the applicability of central excise, customs and service tax is concerned, an analyst with another consultancy firm said.

The Budget now clarifies that transfer of right to use a canned software is liable to only service tax and would not attract central excise and customs.

However pre-packed gaming software imported in the physical medium for retail sale continues to attract customs duty of 8.24 per cent.

Courtesy: The Hindu

Black, White and…the Marriage!

Attending a wedding for the first time, a little girl whispered to her mother, "Why is the bride dressed in white?"

"Because white is the color of happiness and today is the happiest day of her life," her mother tried to explain, keeping it simple.

The child thought about this for a moment, then said, "So, why’s the groom wearing black?"