Assistance and Entrepreneurial Development Cycle

Different types of incentive schemes applicable to the industrial sector in many countries of the world. These schemes are offered by various state authorities, national, provincial or even local bodies.

The list of incentives offered by such governmental and private bodies is mentioned under. After that we will discuss entrepreneurial development cycle.

List of incentives

  1. Capital investment subsidy
  2. Interest subsidy
  3. Subsidy/Assistance for technical Consultancy
  4. Exemption from stamp duty
  5. Concessional water
  6. Provision for seed capital
  7. Subsidy for power generation
  8. Exemption from property tax
  9. Subsidies to artisans and traditional industries including hand looms
  10. Transport subsidy
  11. Export/Import subsidies and bounties
  12. Interest free loans
  13. Subsidy for R & D works
  14. Land and building at concessional rates
  15. Price preference to SSI units

Ashore, M.M.P “Balancing the imbalances caused by the k lown factors of Entrepreneurial Development”, paper preseme: in the workshop on Technology and Entrepreneur, Kualalanipur 25-30 May, 1977.

Quoted in Rahman A.H.M.H, et. rf. ‘ Entreprreneureship and Small Enterprise Development in Banagladesh”. Bureau of Business Research, D.U.. 1979, pp. 56-58

Entrepreneurial development cycle

assistance_and_entrepreneurial_development_cycleThis figure showing entrepreneurial assistance cycle.

Stimulatory

  1. Entrepreneurial Education.
  2. Planned publicity for entrepreneurial opportunities.
  3. Identification of potential entrepreneurs through scientific methods.
  4. Motivational training to new entrepreneurs.
  5. Help and guidance in selecting products and preparing project reports. J 6.Making available techno-economic information and product profits.
  6. Evolving locally suitable new products and processes.
  7. Availability of local agencies with trained personriel for entrepreneurial counseling and promotions.
  8. Organizing entrepreneurial forum.

Support

  1. Registration of unit
  2. Arranging finance
  3. Providing land, shed, power, water etc
  4. Guidance for selecting and obtaining machinery
  5. Supply of scarce raw materials
  6. Getting licenses/import licenses
  7. Providing common facilities
  8. Granting tax relief or other subsidy
  9. Offering management consultancy
  10. Help marketing product

Sustaining

  1. Help modernization
  2. Help diversification/ expansion/substitute production
  3. Defining repayment/interest
  4. Define repayment/interest
  5. Diagnostic industrial extension/consultancy source
  6. Production units’ legislation/policy change reservation/Creating new avenues for marketing
  7. Oath testing and improving services
  8. Need-based control facilities centre

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