What is rural entrepreneurship? It basically means developing industries, companies and firms in rural areas. More than 75 percent of our population is earning their livelihood through agriculture only. Therefore, it is very important to have rural industrialization to increase the education level and standard of living for rural people.
There is a much need of rural entrepreneurship in a country like India. Few points mentioned below will explain this in a prescribed manner.
- The per capita of a person living in a city has more than a person living in a village. Because urban people have more resources and more industrial exposure than rural people.
- Rural industries are labor intensive. If there will be more rural entrepreneurship, people will have their own business and they could generate employments for others as well.
- Rural Indians are rich in traditional art and handicrafts. They could cash their ability and talent to earn some bucks which can ultimately balance the gap of income for rural and urban people.
- Rural Entrepreneurship can reduce Poverty, Slum areas and the pollution which is increasing day by day in cities. In Fact, there should be more migration of industries to village or rural areas to control pollution in cities.
- It will also increase the literacy rate and the standard of education. Rural people can experience the industrial exposure.
Problems in the Growth of Rural Entrepreneurship
- Rural people do not have the proper facilities like work atmosphere, industrial exposure etc.
- They do not have the investors. Most of the investors express hitch to invest in a project like this as they find such kind of projects infeasible.
- Rural people are not so good in technology.
- Banks do provide loans for such kind of projects but their norms and regulations are so rigid that rural people tend to avoid that.
- They are lacking behind of warehousing facility. In rural areas, there is a lack of space to store stuff in a place which is huge and where transport can go easily.
- Many villages are still not connected with internet which is quite important in modern businesses. Internet makes the communication of a vendor and a customer so fast and easy which is very important in business terms.
- They do not have proper educational institutions where students can learn the various aspects of business. Therefore, they are not aware of current affairs of businesses.
- If someone takes a step to do something, the other residents stop him/her because they still believe that their livelihood can be served by agriculture only.
Conclusion: – Overall, if in India, we need to improve our education level, the per capita of people, reduce poverty etc. we should build some more opportunities to rural people for their start up. There should be some motivational camps in villages to encourage more people towards Rural Entrepreneurship. There should be some educational camps as well to aware rural people about possible opportunities for themselves.