Rural Entrepreneurship in India: Challenges and Problems (original) (raw)

AN OVERVIEW OF PROBLEMS OF RURAL ENTREPRENEURS IN INDIA

India is the country of villages. Majority of the population are living in rural areas in India. People in rural areas suffer with unemployment, poor infrastructure facilities which may be solved with the development of the rural entrepreneurs. Rural entrepreneurs refer to those who carry out the business in rural areas with the utilization of local resources. But this rural entrepreneur is suffering with various problems like fear of risk, lack of finance, illiteracy, and competition from the urban entrepreneurs. Rural entrepreneurs increase the standard of living and purchasing power of the people by offering employment opportunity to the people in villages. This paper study the problems faced by the entrepreneurs and possible recommendation to overcome the problems.

Problems and Prospects of Rural Entrepreneurship in India

The process of economic development involves the utilization of the physical resources of a nation by its human resources. In fact, human resources are the seeds of economic development. Economic development depends up on the availability of a large number of innovative and dynamic entrepreneurs. Entrepreneurs act as the producers, decision makers and risk takers as well as innovators. They are the economic pioneers initiating changes in the economy. The entrepreneurship which springs up in rural area is termed as rural entrepreneurship. Rural entrepreneurship can reduce poverty, unemployment, growth of slums, pollution and can ultimately improve the per capita income of rural people. However, they face a lot of challenges in their path. This paper intends to focus on the problems and prospects of rural entrepreneurship in India.

PERSPECTIVES OF RURAL ENTREPRENEURSHIP IN INDIA

S A M Z O D H A N A – “J o u r n a l o f M a n a g e m e n t R e s e a r c h, 2014

Indian economy is highly dependent on rural economy as 72.2 % of the total population lives in rural areas where agriculture and allied activities are the major sources of income. Rural entrepreneurship is starting of enterprises in rural areas. Entrepreneurship is a wise answer to solve the unemployment, migration and to promote economic and social development in rural areas. The strengthening of the rural villages will encourage the preservation of natural resources and improve the rural economy. There exists a wide gap between rural and urban areas in terms of infrastructure, market and financial access etc .To reduce the disparities, revitalizing the rural economy can be achieved by establishing entrepreneurial ventures in rural areas. Rising rural incomes will have a multiplier effect by raising the demand for farm and nonfarm products and services instigating growth of employment opportunities .Government of India has been continuously assigning increasing importance and support for the promotion and growth of rural entrepreneurship. The obstacles for growth of rural entrepreneurship are literacy, risk aversion, lack of skilled labor, less technical knowhow, limited access to essential services, lack of communication facilities etc. This paper provides an insight into the present scenario of rural entrepreneurship, advantages, opportunities, challenges faced by the entrepreneur and institutions promoting rural entrepreneurship and their role in developing and fostering rural enterprises.

OPPORTUNITIES AND CHALLENGES FOR RURAL ENTREPRENEURSHIP IN INDIA

Rural entrepreneurship has an imperative role to play in the development of Indian economy. Taking into account the fact that nearly 70 percent of the Indian population calls rural India it's home, adequate funding and support can provide a prosperous entrepreneur atmosphere in these communities. So far as it is known that rural India as compared to the majority population is economically poor, younger, more secluded geographically, secluded from the main markets, racially imbedded in tradition, less dynamic economically and experiencing depopulation. It is to be noticed that most of the entrepreneur development policies are adapted to meet the needs of the urban India. Such policies will have to be changed by establishing such centers which exclusively deal with the rural communities and provide consulting and research facilities.

Rural Development in India through Entrepreneurship: An Overview of the Problems and Challenges

In the era of globalization, entrepreneurship development in the rural context is a challenge. According to 2011 Census 68.84% people are living in rural areas of India. People in rural areas suffer with unemployment, poor infrastructure facilities which may be solved with the development of the rural entrepreneurs. " Rural Entrepreneurship can be defined as entrepreneurship emerging at village level which can take place in a variety of fields of endeavor such as business, industry, agriculture and acts as a potent factor for economic development ". But, these rural entrepreneurs are suffering with various problems like fear of risk, lack of finance, illiteracy, and competition from the urban entrepreneurs. Rural entrepreneurs increase the standard of living and purchasing power of the people by offering employment opportunity to the people in villages. This paper is an attempt to understand the problems and challenges for rural entrepreneurship in the context of rural development in India and possible suggestions to overcome the problems.

Problems Faced By Rural Entrepreneurs and Remedies to Solve It

India lives in its villages, nearly 73 % of the total population live in rural areas where agriculture and allied activities are the main stay of their lives. The economic development of our country largely depends on the development of rural areas and the standard of living of its rural mass. Rural entrepreneur is one of the most important inputs in the economic development of a country and of regions within the country. Rural entrepreneur uses the scarce resources in the most efficient manner thereby increasing profits and decreasing costs. Due to lack of education, majority of rural people are unaware of technological development, marketing etc. Shortage of finance and raw materials are main problems face by rural entrepreneurs. Most of the rural entrepreneurs face peculiar problems like illiteracy, fear of risk, lack of training and experience, limited purchasing power and competition from urban entrepreneurs. Promotion of rural entrepreneurship is a key to develop rural areas and backward towns. This paper focuses on the identification of various problems associated with rural entrepreneurship. Suitable cures have also been discussed to overcome these problems.

The Empirical Perspectives on Rural Entrepreneurship Development in India

SSRN Electronic Journal, 2018

Today, Indian economy is much highly dependent on rural economy as 72.2% of the total population lives in the rural areas where agriculture and allied activities are the major sources of income. True entrepreneurs are passionate, resourceful and are driven to succeed and improve. They are surely pioneers and are comfortable fighting on the frontline. Certainly, the great entrepreneurs are ready to be laughed at and criticised in the beginning because they can see their path and are also too busy working towards their dream and passion. In general, an entrepreneur is a businessperson who not only organises and conceives ventures but also frequently takes risks in doing so. Not all entrepreneurs are created equal and not all independent business people are true entrepreneurs. Rural entrepreneurship is starting of enterprises in the rural areas. Entrepreneurship certainly is a wise answer to solve the migration, unemployment and also to promote social and economic development in the rural areas. Strengthening of the rural villages will improve the rural economy and will also encourage the preservation of natural resources. There exists a wide gap between rural and urban areas today in terms of infrastructure, financial access and market, etc. To reduce the disparities, revitalizing the rural economy is very much important and it can be achieved by establishing entrepreneurial ventures in the rural areas. Especially rising rural income will have a multiplier effect by raising the demand for farm and non-farm services and products instigating the growth of employment opportunities. Government of India has been continuously assigning and striving for increasing the importance and support for the growth and promotion of rural entrepreneurship. Some of the major obstacles for growth of rural entrepreneurship are risk aversion, less technical knowhow, lack of skilled labour, lack of communication facilities, limited access to essential services, etc. This paper provides an insight into the present scenario of rural entrepreneurship, meaning, qualities required for an entrepreneur, challenges and opportunities faced by entrepreneurs, entrepreneurship as a career and institutions promoting rural entrepreneurship and their role in fostering and developing rural enterprises.

Rural Entrepreneurship Challenges and Opportunities: An Indian context

Indian Journal of Applied Research, 2011

Entrepreneurship is the practice of starting new organizations or revitalizing mature organizations, particularly new businesses generally in response to identified opportunities. The entrepreneurial orientation to rural development accepts entrepreneurship as the central force of economic growth and development, without it other factors of development will be wasted or frittered away. However, the acceptance of entrepreneurship as a central development force by itself will not lead to rural development and the advancement of rural enterprises. To accelerate economic development in rural areas, it is necessary to increase the supply of entrepreneurs, thus building up the critical mass of first generation entrepreneurs who will take risks and engage in the uncertainties of a new venture creation, create something from practically nothing and create values by pulling together a unique package of resources to exploit an opportunity. This paper studies the changing paradigm of the rural India and also discusses the challenges and opportunities for the entrepreneurs in rural India.

A n Urge of Rural Entrepreneurial Development in India- One Step Ahead For Economic Development

Global Journal of Enterprise Information System, 2019

Purpose: This paper mainly focus on awareness towards the growth of rural entrepreneurial development in India and how much it affects the standards of living of the people live in rural areas and enhancement of Indian economyDesign/methodology/Approach: Review based ApproachFindings: The study concludes that the persons who have capability to innovate new and creative ideas that lead to change their lifestyle by commercializing their ideas in the inner market. While the government has also launched various supporting schemes or policies for the entrepreneurial development in rural areas like MSME that will provide a platform to the small medium size entrepreneurs to develop their enterprisesOriginality/value: This paper investigate that the entrepreneurs or the businessmen are the backbone of any country’s economy. So, through this paper I am trying to motivate those people coming from rural areas having new and innovative ideas to come ahead and contribute towards the growth of an...