Chapter 10. Assistance for Entrepreneurship Development

Chapter 10. Assistance for Entrepreneurship Development. To take the initiative to establish a business is required to support the many types. Support a wide variety of industries, and successfully conducting a trade or inspires entrepreneurs. In this chapter we take initiatives in the country’s industrial policy, a variety of public and private commercial banks and non-governmental organizations will be able to learn about the services provided by the different types of support.

Chapter 10. Assistance for Entrepreneurship Development

To establish a new business or industry in a creative and constructive. But with the risk involved. Easily. No one wants to come to work. The need for different types of assistance. These initiatives will help to establish a potential business or industry, and it inspires successfully directed. According to the nature of the assistance, stimulating, Support and protection can be divided into three categories. Inspirational stimulating support refers to the various types of training, awareness of investment opportunities, the promotion of the industry to establish public assistance, technical and economic information and consultation is a gift.

Situation

Entrepreneurs perform a vital function in economic development by creating employment, producing goods and services, mobilizing capital investment and developing the means to a trade market.

Although essential in any economy, entrepreneurs are particularly important in developing nations, where governments may not have the financial capacity, framework or skills to support entrepreneurs.

In order to increase the number of entrepreneurs in these nations, USAID needs to determine how potential entrepreneurs could be identified, how to train them and how to support them to allow trade and entrepreneurial spirit to flourish.

Solution

The US National Science Foundation engaged MSI, Coffey’s America’s business, to perform a 5-year research project. The project employed a research methodology to analyze the behaviors of distinguished entrepreneurs from different countries.

Through the research undertaken, MSI discovered a surprising research finding: successful entrepreneurial behaviors are remarkably consistent from country to country. These findings led to the Entrepreneurial Development Program that has been successfully implemented across 57 countries with over 300,000 participants.

Result

The Entrepreneurial Development Program targets entrepreneurs, university graduates, civil servants, and small business owners and focuses on identifying entrepreneurial potential and building on it to stimulate new sources of entrepreneurship.

The program consists of three related training programs:

1. The Entrepreneurship Development Program Installation equips local institutions with the capacity to conduct and sustain the program over time.
2. The Entrepreneurship Workshop helps to identify and expand participants’ potential to create or improve small businesses or other entrepreneurial activities.
3. The Entrepreneurship Selection Workshop instructs people on how to harness the entrepreneurship characteristics that are needed to be successful. The workshop also reinforces these competencies in their own business plans and entrepreneurial endeavors.

The central assistance to be provided would be only catalytic and supplementary to the contributions and efforts of the States/UT Governments and other agencies involved in the program. The financial assistance will be for specific needs of each case for improvement in areas like building, training aids/equipment and other support services and will be on matching basis, say 50% of the cost restricted to Rs. 100.00 lakh in each case.

The State Govt. will examine the expansion/modernization programs of EDIs and forward the same to the Office of Development Commissioner (MSME). Nirman Bhawan, New Delhi-110011, recommending central assistance. The proposals would indicate clearly the item-wise estimated cost of the project, and also the sources of finance. The proposals of EDIs received through State Govt. would be scrutinized by the Screening Committee, whose composition would be as under:

1. i) AS & DC (MSME) – Chairman
2. ii) Director (Deptt. of MSME and ARI) – Member

iii) Industrial Adviser – Member

1. iv) Director/Dy. Secretary (I.F. Wing) – Member

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