Various Prospects for Training Rural Entrepreneurs.
Rural entrepreneurship has a crucial role to play within the development of the Indian economy. Taking under consideration the very fact that almost 70 percent of the Indian population calls rural India it’s home, adequate funding and support can provide a thriving entrepreneur atmosphere in these communities. Thus far because it is understood that rural India as compared to the mainstream population is economically poor, younger, more isolated geographically, isolated from most markets, culturally embedded in tradition, less dynamic economically, and experiencing depopulation.
Need for Rural Entrepreneurship
- Rural industries generate large-scale employment opportunities within the rural sector as most of the agricultural industries are labor-intensive.
- Rural industries are capable of monitoring rural-urban migration by developing more and more rural industries.
- Rural industries/entrepreneurship helps to enhance the per capita income of rural people thereby reducing the gaps and disparities in the income of rural and concrete people.
- The entrepreneurship in rural areas controls the concentration of industry in cities and thereby promotes balanced regional growth within the economy.
- Rural entrepreneurship facilitates the event of roads, street lighting, drinking water, etc. within the rural sector thanks to their accessibility to the most market.
- The entrepreneurship program in rural areas can reduce poverty, the growth of slums, pollution in cities, and ignorance of inhabitants.
How to Develop Rural Entrepreneurship?
- The raw material is a must for any industry. However, the non-availability of raw materials amid their prohibitive cost has weakened the viability of those industries. Previous events bear evidence that rural industries with employment potential can’t be sustained for long unless a robust raw material-base is made in rural areas itself. Therefore, an urgent policy is named to strengthen the staple base in rural areas.
- Finance is taken into account as a lubricant for fixing and running industry. Funds, therefore, got to be made available on time at soft terms and conditions to those that actually need it.
- To resolve the issues of marketing in rural industries, common production-and-marketing centers got to be found out and developed with modern infrastructural facilities, particularly, within the areas having good production and growth potential. This is able to help in promoting export business, on the one hand, and bringing the buyers and sellers in close interaction avoiding the middlemen in between them, on the opposite. Legislative measures need to be taken to form the govt purchases compulsory from rural industries.
- One peculiarity of rural entrepreneurs is that the majority of them join their entrepreneurial career not by choice but accidentally. Lack of competency and aptitude on the part of such entrepreneurs makes the units sick.
- One effective way to inculcate the entrepreneurial acumen and attitude could also be imparting entrepreneurial education within the schools, colleges, and universities. That younger minds are more vulnerable to be molded is well evidenced by the popularly known ‘Kakinada Experiments’ in Andhra Pradesh.
Opportunities for Rural Entrepreneurship:
- Support & Motivation to local people: Rural entrepreneurs have tons of support from the agricultural people. Rural village people always encourage and provide motivation to entrepreneurs.
- Low establishment cost: In comparison to the urban areas, rural entrepreneurs’ place of business cost is extremely low. there’s no got to construct or facilities huge infrastructure and buildings.
- Competitive advantages / Availability of labor: In India, seventy percent of the people live within the village. The majority of the agricultural people are counting on agriculture. The agriculture work isn’t available throughout the year. That’s the rationale of why rural entrepreneurs have a competitive advantage in easily acquiring unskilled and semiskilled labor.
- Government policies and subsidies: the govt of India is continuously monitoring and introducing the new policies for encouraging rural entrepreneurship. These policies are very liberalized, innovative, and flexible, giving continuous support to rural entrepreneurs. At an equivalent time, the government has also announced huge subsidies for promoting rural entrepreneurship.
- Availability of raw materials. Most of the time the agricultural entrepreneurs are depending upon the farm-based products as raw materials, which are available throughout the year. These raw materials are available within the country that’s the rationale there’s no transportation cost and flotation cost.
- Cost of production: Rural entrepreneurs’ cost of production is extremely low in comparison to the urban industries. The factors of production are available at low cost, automatically the value of production is additionally low. Because of this rural entrepreneurs can sell their goods and services at cheaper costs.
In India, where people are still fighting on the difficulty of unemployment with 83.3 crores out of the entire 121 crore Indians living in rural areas, rural entrepreneurship can awaken the youth there and expose them to varied avenues to adopt entrepreneurship and sell as a career option. It will bring in an overall change within the quality of lives of individuals and address social ills like illiteracy, child marriage, migration, and ladies’ empowerment among many others.