Problems and Measures of Entrepreneurship Development - Entrepreneurship & Small Businesses | Entrepreneurship & Small Businesses - B Com PDF Download

Problems and Measures of Entrepreneurship Development : The need of Entrepreneurship Development was highly underlined after the independence. The Central Government highlighted the significance of Entrepreneurship Development in its first industrial policy and announced its policy on Entrepreneurship Development. Further it is also stressed in all the subsequent industrial policies of the government. Accordingly central and state governments had undertaken the campaign of Entrepreneurship Development all over the country for more than 60 years. But unfortunately it has not gained substantial success. We find certain problems and drawbacks in the process and policies of Entrepreneurship Development which may be listed as follows:

(1) Lack of co-ordination in the Entrepreneurship Development organised by different institutes and agencies.

(2) Unwarranted number of institutes for Entrepreneurship Development leading to confusion about their area of functioning.

(3) Lack of priorities of requirements for a new entrepreneur.

(4) Lack of experts for guiding and counselling the prospective entrepreneurs.

(5) Lack of long-term Entrepreneurship Development of the state and central government.

(6) Lack of commitment on the part of Entrepreneurship Development institutes and state government.

(7) Non-availability and lack of resources for Entrepreneurship Development training programmes.

(8) Lack of follow-up the participants and Entrepreneurship Development training programmes.

(9) Low rate of success of Entrepreneurship Development programmes.

(10) Increasing number of sick units from small-scale industries sector.

Remedial Measures : The problems of Entrepreneurship Development need to be attended and be solved without delay. The state government and the central government has adopted certain remedial measures for doing away the problems. Some important measures are suggested as follows:

1. Effective co-ordination in the activities of Entrepreneurship Development is essential. The state government shall initiate in this regard for effective coordination.

2. Single window scheme shall be introduced for prospective  entrepreneurs.

3. Priorities of requirements for launching a business by new or prospective entrepreneurs shall be fixed.

4. Experts of particular area be appointed or be invited instead of government officials.

5. Long term policy of Entrepreneurship Development be formulated by the central as well as by the state governments.

6. Nursing activities for newly started business be initiated by the Entrepreneurship Development institutes to sustain the rate of successful entrepreneurs.

7. Budgetary provision and allocation of more funds by the state and central government is essential.

8. Post training follow-up need to be attended more meticulously.

9. Rehabilitation of SSI sick units be undertaken and more facilities be granted to new or first-generation entrepreneurs.

10. Differential schemes of Entrepreneurship Development programmes be introduced at district level viz. Entrepreneurship Development programmes for engineering graduates, programmes for science graduates, programmes for arts graduates, programmes for under-graduates etc.

The above measures if implemented seriously will certainly accelerate rate of Entrepreneurship Development.