Entrepreneurship PPT

1. UNIT V
ENTREPRENEURSHIP DEVELOPMENT IN INDIA
Growth and promotion of Entrepreneurship in
India - Institutional arrangements -
Entrepreneurial motivation - Values and
Culture - Entrepreneurship in various sectors -
Access to finance, market, R&D and
Technology - Policies and programmes related
to entrepreneurship development

2. Entrepreneurship as Economic Factor
in Economic Growth
• Entrepreneurship is important for a variety of reasons, including promoting social
change and fostering innovation.
• Entrepreneurs are frequently regarded as national assets to be nurtured,
motivated, and rewarded to the greatest extent possible.
• Indeed, some of the most developed countries, such as the United States, are
world leaders as a result of their forward-thinking innovation, research, and
entrepreneurial individuals.
• Great entrepreneurs have the power to transform the way we live and work on a
local and national scale.
• If they are successful, their innovations may raise living standards and, in addition
to creating wealth through entrepreneurial ventures, they will also create jobs and
contribute to a growing economy.
• Entrepreneurship entails the ability to identify new investment opportunities, as
well as the willingness to take risks and invest in new and growing business units.
• The majority of the world's underdeveloped countries are poor not because of a
lack of capital, lack of infrastructure, unskilled labour, or a lack of natural
resources, but because of a severe lack of entrepreneurship.
• As a result, it is critical in developing countries to foster entrepreneurship by
emphasising education, new research, and scientific and technological
advancements.
• The significance of entrepreneurship cannot be underestimated.

3. How does entrepreneurship impact
economic growth?
• By creating new products and services, they
stimulate new employment, which ultimately
results in the acceleration of economic
development. So public policy that encourages
and supports entrepreneurship should be
considered important for economic growth.

4. Which factors influence
entrepreneurship?
• Entrepreneurs work under the constraints of
their environment – the political economy.
Five factors will be key to entrepreneurial
success: creativity, tolerance for risk,
responsiveness to opportunities, leadership
and the ability to take advantage of the rights
afforded to you.

5. What are the main benefits of
entrepreneurship?
• Flexibility in Schedule
• Fulfilling and Boosts Self-Esteem
• Getting to Learn New Things
• Creating Wealth for Self and Associated Businesses
• Improves the Standard of Living
• Creates Businesses and Job Opportunities for People
• Developing the Economy
• Creating Social Impact
• Getting to Be the Innovator of Your Industry

6. Institutional arrangements
• This institutional support system has been
designed at following four levels:
• 1. Central Government
• 2. State Government
• 3. Non-Government Support System
• 4. District Industries Centres (DIC). :

7. • For the development of entrepreneur a number of
specialized agencies have been set up by the State
and Central Governments which are as follows:
• Small Industries Service Institutes (SISI)
• Small Industries Development Organisations (SIDO)
• National Small Industries Corporation
• Small Industries Extension Training Institute.
• Entrepreneurship Development Institute of india
• Institute for Rural Management and Adminstration
• National Institute for Entrepreneurship and Small
Business Development (NIESBUD)
• National Alliance of young entrepreneurs (NAYA)
• Maharashtra Centre for Entrepreneurship
Development (MCED)

8. • 5. National Institution of Entrepreneurship and Small
Business Development(NIESBUD),New Delhi
• It was established in 1983 by the Government of India.It is an
apex body to supervise the activities of various agencies in the
entrepreneurial development programmes.It is a society
under Government of India Society Act of 1860.The major
activities of institute are:
• i) To make effective strategies and methods
• ii) To standardize model syllabus for training
• iii) To develop training aids,tools and manuals
• iv) To conduct workshops,seminars and conferences.
• v) To evaluate the benefits of EDPs and promote the process of
Entrepreneurial Development.
• vi) To help support government and other agencies in
executing entrepreneur development programmes.
• vii) To undertake research and development in the field of EDPs.

9. • . National Institute of Small Industries Extension Training
• It was established in 1960 with its headquarters at
Hyderabad.The main objectives of national Institute of Small
Industries Extension Training are:
• i) Directing and Coordinating syllabi for training of small
entrepreneurs.
• ii) Advising managerial and technical aspects.
• iii) Organizing seminars for small entrepreneurs and
managers.
• iv) Providing services regarding research and documentation.

10. Entrepreneurial motivation
• The entrepreneurial motivation is the process that activates
and motivates the entrepreneur to exert higher level of
efforts for the achievement of his/her entrepreneurial
goals. In other words, the entrepreneurial motivation refers
to the forces or drive within an entrepreneur that affect the
direction, intensity, and persistence of his / her voluntary
behaviour as entrepreneur. So to say, a motivational
entrepreneur will be willing to exert a particular level of
effort (intensity), for a certain period of time (persistence)
toward a particular goal (direction).
• Definition
• Motivation is regarded as “the inner state that energizes
activities and directs or channels behavior towards the
goal”.
• Motivation is the process that arouses action, sustains the
activity in progress and that regulates the pattern of
activity.

11. MEANING of MOTIVATION
• Entrepreneurial motivation is the process of
transforming an ordinary individual to a powerful
businessman, who can create opportunities and
helps in maximizing wealth and economic
development. It is defined as various factors
stimulate desires and activates enthusiasm in
entrepreneurs which make them attain a
particular goal. Entrepreneurship is the process of
identifying strengths and opportunities which
help in the realization of one’s dreams for
designing, developing and running a new
business by facing threats and risks effectively.

12. • Characteristics of Motivation
• 1. Motivation is internal feeling of a person.
• 2. Motivation is a continuous process.
• 3. Motivation varies with person and time.
• 4. Motivation may be positive or negative.

13. Entrepreneurial Motivating Factors
• Most of the researchers have classified all the factors
motivating entrepreneurs into internal and external factors
as follows:
• Internal Factors
• These include the following factors:
• Desire to do something new.
• Become independent.
• Achieve what one wants to have in life.
• Be recognized for one’s contribution.
• One’s educational background.
• One’s occupational background and experience in the
relevant field.

14. • External Factors
• These include:
• Government assistance and support.
• Availability of labour and raw material.
• Encouragement from big business houses.
• Promising demand for the product.

15. The individual MSME-DIs
• conduct the following training programmes:-
• a) Industrial Motivation Campaign
• b) Entrepreneur Development Programme
• c) Entrepreneurship Skill Development
Programme
• d) Management Development Programme
• e) Skill Development
• f) Business Skill Development Programme

16. Entrepreneurship in various sectors
• Primary sector
• The primary sector includes various businesses involved in
extracting or harvesting products from nature. They produce
commodities for raw materials in the secondary sector. Some are
also for final consumption, such as staple foods.
• The primary sector includes a variety of sub-sectors, including:
• Agriculture
• Forestry
• Fishery
• Excavation
• Mining

17. • Secondary sector
• The secondary sector includes various businesses involved in
processing raw materials into outputs. Output can be finished
or semi-finished goods. Semi-finished goods then go into
other businesses in this sector. So, overall, this sector
produces the final output.
• The secondary sector consists of manufacturing, construction,
and utility businesses. Then, for a manufacturing business, it
can be very diverse, for example:
• Foods
• Beverages
• Tobacco products
• Textile
• Apparel
• Paper
• Base metal
• Electronic
• Furniture

18. Which is the most profitable small
scale business in India?
• This is a list of the top 15 most profitable small scale businesses in India:
• Apparel Boutique Stores
• Catering
• Consultancy Companies
• Indian Handicrafts
• Jobs & Placement Services
• Salon
• Ice-Cream Parlour
• Travel Agency
• Wedding Bureau
• Photography
• Fitness Instructor
• Cooking Classes
• Online Businesses
• Embroidery/Tailoring

19. Policies and programmes related to
entrepreneurship development

22. Government Policies For SMEs In India
• The best government policies for SMEs in India
are as follows:
• Market Development Assistance Scheme for
MSMEs
• Mini Tools Room And Training Centre Scheme
• Credit Guarantee Fund Scheme for MSEs
(CGMSE)
• National Award Scheme
• Credit Link Capital Subsidy Scheme for
Technology Upgradation

23. Government Loan Schemes for Small
Businesses in India
1. MSME Business Loans in 59 Minutes- Announced in September 2018,
under which you get financial assistance for MSME growth. This process
takes 8-12 days for completion where public sector banks grant the
funds.
2. Credit Link Capital Subsidy Scheme for Technology Upgradation- It is
also known as CLCSS this aims for lowering the production cost of goods
and services for small and medium enterprises. This scheme is
authorised and monitored by the Ministry of Small-Scale Industries.
3. MUDRA Loans- This program was launched with the single motive of
‘paying the unfunded’. Their structure is divided into 3 categories- Sishu
Loans, Tarun Loans, and Kishor Loans.
4. National Small Industries Corporation Subsidy- Also known as NSIC, it
offers financial benefits for Raw Material Assistance and Marketing
Assistance.
5. Credit Guarantee Fund Scheme for Micro and Small Enterprises-
Launched in the year 2000 it's a financial support scheme for all MSMEs
in India. It offers working capital loans of around 10 Lakh Rupees for
both new and existing businesses.

24. Government Policies For Business In
India
• Incentives and Subsidies for Home Industries
• Conducting Routine Quality Inspections
• Commercial Technology Transfer
• Developmental Assistance to Small Scale Industries
• Timely Information Supply
• Basic Infrastructure Provision
• Balancing Regional Growth & Development
• Rendering Monetary System
• Sustaining Law and Order
• Establishing & Implementing Laws