Rural Preneurship - a Strategy for Stimulating Rural Development

Abstract

ntrepreneurship development is now considered as the central force of economic growthand development of the rural economy. Other factors of development without or lack ofentrepreneurial capability will fail to stimulate the rural Economy. This paper discusses keyissues related to the role of entrepreneurship in this context. The analysis observes that whilesupportive environment is crucial, other determinants of the rural entrepreneurship developmentalso need to be nurtured. The major challenges in the way of entrepreneurship development arecreation of necessary rural infrastructure, education of the youth, finance and marketingfacilities of products/services. The paper highlights how these challenges could be removed forthe success of rural growth and in this context the role of some of the agencies working tosupport rural enterprises are discussed. This analysis finds several benefits of this strategy for therural development. The rural entrepreneurship is viewed as an answer to minimize the level ofpoverty and this will ensure more egalitarian society and create jobs in rural India. This will inturn add economic value to the region and at the same time, it will keep scarce resources within the community. Thus, the conclusion is that in order to accelerate economic development in rural areas, it is necessary to promote entrepreneurship.