Role of Entrepreneurship Development in Employment Generation: A Study of Vidarbha Region

Abstract

Entrepreneurship development is significantly contributing and making contribution to the concept of job creation, economic development, innovation and even regional development mainly in the regions lacking in industrial and employment gap. This paper presents some of the findings of this study, focussing on the contribution of entrepreneurship activity in the creation self-employment, wage employment, income, skill development and local economic development, especially in Vidarbha region of Maharashtra. The study attempts to identify the major factors causing entrepreneurship development, influence of programme comes into existence on employment and analyse the problems faced by the current and prospective entrepreneurs. The nature of the study is descriptive and analytical in term of gaining primary data from the field/entrepreneurs and stakeholders involved whereas secondary data from government reports, institutional publications and published research are used. This study concentrates its analysis on the five important factors that affect entrepreneurial development which are access to finance, entrepreneurial skills, government support, infrastructure and market opportunities, technology and institutional assistance. The study results will present the relevance of the phenomenon of entrepreneurship in the potential generation of valid employment and reduction of dependence on traditional sources of livelihood. The study also necessitates the intervention of policies, training of the entrepreneurs, providing loan facilities to the entrepreneur and building up market linkages to improve the entrepreneurial ecosystem and generation of employment in Vidarbha in an inclusive manner.