Entrepreneurship Development

ENTREPRENEURSHIP DEVELOPMENT FOR RURAL FAMILIES 4(1+3)

Lesson 3 : Need of Entrepreneurship Development for Farm Families

Need for motivating rural families

“Rural folk especially youth in the rural areas have little options”. This is the reason that many of them either work at farm or migrate to urban land. The need is to set other options in the minds of rural youth and women. Entrepreneurship could be the best option. If planted and nurtured in the minds of farm families and youth, it could result in revolutionizing the Indian economy. It should be emphasized that the projects undertaken by these entrepreneurs should not be constrained by its location in rural area. It should enjoy all the advantages of the location. Following are the advantages of rural entrepreneurial projects:

• Tax holidays and other tax advantages given to rural projects.
• Abundance of labor at lower rates.
• Advantage of local availability and regional resources in case the unit uses them as a raw material.
• Prestige and respect among the local community
• Live example for local youth for taking up entrepreneurial project
• Support and motivation from local people
• Competitive advantage over the big business due to the proximity to raw material and labor.
• Employment generation for local people.