| Pub. Date | : June, 2021 |
|---|---|
| Product Name | : The IUP Journal of Entrepreneurship Development |
| Product Type | : Article |
| Product Code | : IJED20621 |
| Author Name | : Shanimon S and Shalini Lawrence |
| Availability | : YES |
| Subject/Domain | : Management Journals |
| Download Format | : PDF Format |
| No. of Pages | : 10 |
The growth and development of all economies highly depend on entrepreneurial activity. Entrepreneurs are the nerves of economic development as they provide a source of income and employment. They create an atmosphere of employment generation for others, and produce new and innovative products and services. Entrepreneurial supportive environment is essential for entrepreneurship development and is evolving in the developing economies. An entrepreneurial environment has five metrics, namely, easy access to funding, entrepreneurial culture, entrepreneurial supportive regulatory measures, entrepreneurial supportive mechanism and entrepreneur-friendly policies. The public and the private sectors have an equal role to play in the development of entrepreneurial ecosystem. There are four factors necessary for entrepreneurial opportunities namely, factor-driven entrepreneurship, efficiency-driven entrepreneurship, innovation-driven entrepreneurship and necessity-driven entrepreneurship. Entrepreneurship has been considered as the backbone of economic growth. The level of economic activities of a country largely depends on the level of entrepreneurial activities in that country. Entrepreneurs are not born but can be created and nurtured through appropriate interventions in the form of entrepreneurship development programs. In the modern competitive world, a number of opportunities have emerged from the evolving Information Technology (IT) revolution. A large part of the population generally lags behind in taking advantage of the emerging IT revolution. Therefore, there is a need to provide skill development through entrepreneurship development to such people in order to bring them into the mainstream of economic development.
Entrepreneurship development programs should be designed to upgrade existing skills and create new skills by organizing various technical training courses in the mainstream society (Lindsay et al., 2009). Specific tailor-made programs should be designed for the skill development of the socially disadvantaged groups, especially for women, persons with disabilities, scheduled tribes and scheduled castes. Entrepreneurship development and training