Education and Technical know-how,Financial Assistance,Mobility of Entrepreneurs
Education and Technical know-how
Education, entrepreneurship and development are interrelated. Education helps in the development of capabilities of individuals which facilitates the emergence and growth of entrepreneurship. An alert entrepreneur in order to survive, in the modern competitive world, has to keep an eye over the technological advances taking place around. These technological developments provide opportunities for the entrepreneurs to develop and produce new products. Moreover various studies too have revealed that many entrepreneurs have been driven to the threshold of entrepreneurship for making use of their technical and professional skills. After acquiring these skills they want to use these skills for themselves rather than benefiting others by taking employment. Thus the high level of education and training may enable the entrepreneurs to use their entrepreneurial talent more effectively and efficiently.
Liberal financial assistance on easy terms & conditions act as a motivating force for boosting the morale of the young entrepreneurs to set up their own enterprises. To create an environment conducive to entrepreneurial growth, a policy of support and incentive has been introduced by the government. Various types of subsidies, concessions and facilities are extended to attract entrepreneurs in backward areas. The government of various states have floated various schemes aimed at providing adequate financial assistance to the entrepreneurs on easy terms and at low rate of interest.
Mobility of Entrepreneurs
Mobility refers to the drive in the entrepreneurs to
locate green postures for setting up their units. It is an urge to move to other places in search of better opportunities. In India, Marwaris, Sindhis and Sikhs have moved to every corner of India and abroad to carry on business and entrepreneurial activities. This will help in reducing regional imbalances in economic growth. In the initial phase of industrialisation entrepreneurs set up their units at or near their places due to limited resources, communication bottlenecks and absence of institutional support. An entrepreneur after tasting success, and gaining experience is ready to make Investment anywhere. He is always on the lookout for opportunities, which can be exploited for furthering his busihess interests. He is not tied to any place and is ready to move to any place wherever viable business opportunities exist.