A Study on Prospects and Challenges for Micro and Small Entrepreneurs in the Selected Districts of Odisha
Keywords:
Entrepreneurship Development Programme (EDP), Micro Entrepreneurship development, Micro-enterpriseAbstract
Entrepreneurial development is a complex phenomenon. In an effort to eradicate poverty especially among the rural population, the Government has continues to carry out various development programs with special emphasis on entrepreneurship. Micro-enterprises are observably trapped in a vicious cycle of poverty, indebtedness, and the low level of education and skill. Micro-enterprise development is one of the most important planning components of every developing nation. Many of these nations have gained considerably over the years by nurturing such enterprises at large scale. The present study attempts to make critical evaluation of effectiveness of Entrepreneurship Development Programmes initiated by the state Government and to evaluate the challenges and perspectives for the growth and sustainability of micro and small entrepreneurs in the state of Odisha. 80% of the sample entrepreneurs are not benefited from EDPs in which maximum matriculates are there. This might be due to educational awareness of entrepreneurs affecting the success of EDPs organized. It is observed that out of the entrepreneurs, who have less education obtained technical skills by inheritance and educated entrepreneurs obtained technical skills from technical institutions and EDPs. It is found that around 46% of the sample entrepreneurs have faced financial challenges whereas about 34% entrepreneurs have faced marketing challenges. Challenges such as operational and logistics are statistically insignificant but other challenges such as asking for credit, discount and tax administration are considerable.
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