Important Stimulatory Activities in Entrepreneurship Development

Important Stimulatory Activities in Entrepreneurship Development

Entrepreneurs and entrepreneurship play a significant role in the socio-economic development of a nation. Entrepreneurs set up enterprises and generate employment for people in their enterprises. This helps in reducing unemployment, which is the main cause of all soda economic problems as well as results in increasing the total income of a country.

Stimulatory Activities: These activities ensure the emergence of entrepreneurs in society. They prepare the background for the entrepreneurship to sprout and for people to open Cycle start looking for entrepreneurial pursuits. They generate initial motivation and offer an opportunity to acquire the skill. These can be achieved through the following activities.

(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,

(6) Making available techno-economic information and product profiles,

(7) Evolving locally suitable new products and processes,

(8) Availability of local agencies with trained personnel for entrepreneurial counselling and promotions,

(9) Creating entrepreneurial forums,

(10) Recognition of entrepreneurs.