Assistance and Entrepreneurial Development Cycle

Different types of incentive schemes are 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 the 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 handlooms
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 for SSI units

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

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

Entrepreneurial development cycle

This figure shows the entrepreneurial assistance cycle.

Stimulatory

1. Entrepreneurial Education.
2. Planned publicity for entrepreneurial opportunities.
3. Identification of potential entrepreneurs through scientific methods.
4. Motivational training for 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 personnel 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 subsidies
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 center

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