Entrepreneurship Development | Journals

The IUP Journal of Entrepreneurship Development

Factors Influencing the Growth of Rural Entrepreneurship in Nagaland: A Socioeconomic Perspective

Article Details

Pub. Date	: March, 2022
Product Name	: The IUP Journal of Entrepreneurship Development
Product Type	: Article
Product Code	: IJED040322
Author Name	:Amrendra Kumar and Lipoktoshi
Availability	: YES
Subject/Domain	: Management Journals
Download Format	: PDF Format
No. of Pages	: 24

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Abstract

Economic development is perceived as a multi-dimensional approach involving changes in social structures, acceleration of economic growth, and reduction of poverty and inequality. A country can achieve economic development by equal development in both urban and rural areas. But in India, developments in rural and urban areas are not equal. The State of Nagaland mostly comprises rural areas, and because of the hilly terrain and dense forest, heavy industrial setup becomes difficult. Hence, the people of Nagaland have to depend on locally available resources that provide opportunities for entrepreneurial activities. With the prospect of rural entrepreneurship, people face many challenges too. The paper examines the role of various socioeconomic factors, such as age, financial resources, equal opportunity, infrastructural facilities and political scenario, in rural entrepreneurship development in Nagaland

Introduction

India has great potential in rural entrepreneurship, and if appropriately harnessed, it has a greater chance of becoming a leading economy in the world. Rural Entrepreneurship Development (RED) is a mechanism for improving the socioeconomic conditions of the weaker sections. The role of entrepreneurship in economic development varies across nations depending upon the industrial climate, material resources and political system. Economic development is perceived as a multi-dimensional method involving changes in social structure, acceleration of economic growth, and reduction of poverty and inequality. RED is a vital program for the socioeconomic development of rural areas in India. The objectives are to trigger economic development and generate employment by providing