Development of Entrepreneurship in India: Challenges and Possibilities

Abstract

Entrepreneurship is a dynamic process of vision, change and creation .it requires an application of energy and passion towards the creation and implementation of new ideas and creative solutions. There are several forces like automation as a result of technological advancement, vacillate economies or changes in demographical position that have brought new opportunities along with threats for modern organizations and societies which greatly influence the mobilization of the development of entrepreneurship. People are becoming more and more aware of the importance of the development of entrepreneurship so as to adapt to these moving powers. The study showed emerging opportunities for entrepreneurs and also Entrepreneurship development is concerned with the study of entrepreneurial behavior, the dynamics of business set-up, development and expansion of the enterprise. Entrepreneurship development (ED) refers to “the process of enhancing entrepreneurial skills and knowledge through structured training and institution-building programmes”. It basically aims to enlarge the base of entrepreneurs in order to hasten the pace at which new ventures are created. This accelerates employment generation and economic development. Entrepreneurship development focuses on the individual who wishes to start or expand a business. Small and medium enterprise (SME) devel­opment, on the other hand, it also focuses on developing the enterprise, whether or not it employs or is led by individuals who can be considered entrepreneurial. Furthermore, entrepreneurship development concentrates more on growth potential and innovation, than SME development does