CHALLENGES AND OPPORTUNITIES OF RURAL ENTREPRENEURS

Abstract

Rural development is more than ever before linked to entrepreneurship. Entrepreneurship is a wise answer to solve the unemployment, migration and to promote economic and social development in rural areas. The strengthening of the rural villages will encourage the preservation of natural resources and improve the rural economy. There exist a wide gap between rural and urban areas in terms of infrastructure, market and financial access. To reduce the disparities, revitalizing the rural economy can be achieved by establishing entrepreneurial ventures in rural areas. Rising rural incomes will have a multiplier effect by raising the demand for farm and non-farm products and services instigating growth of employment opportunities. Government of India has been continuously assigning increasing importance and support for the promotion and growth of rural entrepreneurship. The obstacles for growth of rural entrepreneurship are literacy, risk aversion, lack of skilled labour, less technical knowhow, limited access to essential services, lack of communication facilities. This article provides an insight into the the present scenario of rural entrepreneurship, advantages, opportunities, challenges faced by the entrepreneur and institutions promoting rural entrepreneurship and their role in developing and fostering rural enterprises