Dr. R.A.N.M ARTS AND SCIENCE COLLEGE�Affiliated to Bharathiar University , � Accredited with “ B+” NAAC
Mrs.N.GEETHA M.Com(CA).,
Assistant Professor,
Department of Commerce (CA)
Course Name : Entrepreneurial Development
Welcome You All
Entrepreneurial Development
Introduction:
Entrepreneurial Development Programme (EDP) refers to a programme which is formulated to assist the individuals in reinforcing their entrepreneurial motives and attaining competencies and skills which is essential for performing an entrepreneurial role successfully.
Definition:
"Entrepreneurship Development Programme is designed to help an individual in strengthening his entrepreneurial motive and in acquiring skills and capabilities necessary for playing his entrepreneurial role effectively. is necessary to promote this understanding of motives and their impact on entrepreneurial values and behavior for this purpose”.
Objectives
1.To make people learn compliance with law.
2.To develop and fortify entrepreneurial quality, i.e., motivation or need for achievement.
3.To develop small and medium scale enterprises in order to generate employment and widen the scope of industrial ownership.
4.To industrialize rural and backward sections of the society.
5.To understand the merits and demerits of becoming an entrepreneur.
6.To investigate the environmental set-up relating to small industries and small businesses.
Phases of EDP
1) Pre-Training Phase
2) Training Phase
3) Post-Training Phase
Importance
Women Entrepreneurship
Once the government on its part realized the need for empowerment of women, it started coming out with a number of schemes, to provide for greater access to capital, so that they could startup units. Some institutions like National Alliance of Young Entrepreneurs (NAYE) assess women in starting-up, identifying good investment opportunities and raising capital more easily. Commercial banks also have women entrepreneur sections, where financial assistance is provided.
In fact, schemes under the IDBI bank called ‘Mahila Udhyam Nidhi’ and ‘Mahila Vikas Nidhi’ help women entrepreneurs with equity assistance. Established in the early 1990s, ‘Ashriya Mahila Kosh’ trains and provides orientation programmes for women. With their help, women have been able to triple their income.
Rural Entrepreneurship
Rural entrepreneurship has arisen as a dynamic concept. It is generally defined as entrepreneurship emerging at village level which can take place in a variety of fields of attempt such as commercial, manufacturing, agriculture and acts as an effective factor for economic development.
“Entrepreneurship development at village level which can take place in a variety of fields of enterprise such as business, industry, agriculture and acts as a powerful factor for economic development can be defined as Rural Entrepreneurship.”
The Start - Up Process
Project startup is a very short phase of the project management cycle. It is a transition step between project planning and execution. While it is a short step, important events occur, including: Baselining of the project plan with management sign-off.
Project identification
Project identification is a process in the initiating phase of project life cycle for identifying a need, problem, or opportunity.
Once identified, a project is initially documented objectively defining what was identified. This identification can be the result of an organization's strategic planning, of a company's normal operations, as the response to an unexpected event, or to a need.
Factors to Consider in Product Selection
Project Formulation
A process is a collection of interrelated actions and activities that take place in order to achieve a set of previously specified products, results or services. The project team is in charge of executing the formulation, evaluation and project management processes. The processes (tasks and activities) have clear dependencies and are done following the same sequence in each project. They are independent from the area of application approaches. These groups of processes consider the multidimensional nature of formulation, evaluation and project management.
The Best Project Evaluation Methods
Return on Investment (ROI)
Cost-Benefit Analysis (CBA)
Net Present Value (NPV)
Internal Rate of Return (IRR)
The Payback Period
Benefit-Cost Ratio (BCR)
Risk-Adjusted Discount Rate (RADR)
Four Factors Included in a Feasibility Analysis
Types of Feasibility Analysis
Institutional service to Entrepreneurs
Services like financing, technical guidance, equipment support, training, marketing and providing subsidy and grants are supported by several institutions. These institutions provide financial support to promote and develop small industries and entrepreneurs.
Role of District Industries Centres (DICs)
Functions of District Industries Centres (DICs)
Functions
The main functions of SIDO are:
Types of NSIC Schemes
Single Point Registration Scheme
The aim of implementing the scheme was to augment government purchases from MSMEs.
Raw material assistance scheme
The raw material assistance scheme is meant to help the industry by financing raw material purchases for products from local and global markets. This also enables the MSMEs to focus their attention on manufacturing products of pristine quality.
MSME Global Mart
A B2B portal under NSIC, this was started to provide not only technology but also financial help at prices that seem reasonable to the industry.
Major Focus
State Finance Corporations (SFCs)
The State Finance Corporations (SFCs) are an integral part of institutional finance structure of a country. Where SEC promotes small and medium industries of the states. Besides, SFC helps in ensuring balanced regional development, higher investment, more employment generation and broad ownership of various industries.
Functions of ICICI
Seed Capital Assisstance
Seed capital is an early-stage investment made to a startup or small business to help it get started. This funding is usually provided by angel investors, venture capitalists, or other investors who are willing to take a risk on a new idea or concept.
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