Essential of Entrepreneurial Development Assistance

Experiences of last few decades in different countries clearly show that it is possible to develop entrepreneurs through planned educational and training efforts as step of essential of entrepreneurial development assistance.

A number of approaches have been attempted to promote entrepreneurship in different countries and many have succeeded and acquired experiences in these regard.

By and large, a holistic view consisting of stimulatory assistance support and sustaining efforts have emerged as prerequisites for the success of entrepreneurship development programmers.

Indeed in order to set up an industrial enterprise and run it successfully an entrepreneur requires these three types of assistance:

Essential of entrepreneurial development assistance

  • The stimulatory assistance comprising entrepreneurial education, training, planned publicity to entrepreneurial opportunities and guidance is selecting products and preparing project plan which are needed to help emergence of entrepreneurs in the society.
  • The sustaining activities that include efforts, which help the entrepreneurs, sustain themselves again the challenges of actual operation.

     The groups of activities mentioned above play complementary roles to each other. In the absence of negligence of one, the overall objective is frustrated. Training without matching support assistance results into failure and frustration for entrepreneurs.

This causes national wastage of resources in terms of men and material. Similarly, if support activates are over emphasized and the other two are neglected. Then there may be facilities available with no or few entrepreneurs to avail such facilities.

This causes frustration on the part of promotional agencies/institutions. When sustaining activities are over-emphasized the growth in the number of enterprises is bound to be stagnant.

However, the types and extern of assistance may vary according to nature and status of entrepreneurs. For example, for emerging entrepreneurs all typed of assistance may be required in intergraded form and for existing entrepreneurs only management skill development trailing will be needed.

It is thus imperative that the needs of entrepreneurs are required to be identified in the total perspective before division assistance program.

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