Entrepreneurship Development Cycle

08/10/2020 1 By indiafreenotes

EDP starts with stimulation or searching of potential entrepreneur where only awareness is created those who are a potential entrepreneur they get support in establishment unit from a various organization like D.I.C,  S.S.I, S.I.D.C, I.C.I.C.I, S.I.D.B.I, N.I.E.F.S, etc. Thus EDP’s are very useful in setting & sustaining small & micro units.

A. Stimulation consists 

  1. Entrepreneurial Education.
    2. Planned Publicity for entrepreneurial opportunities.
    3. Identification of potential entrepreneurs through a scientific method.
    4. Motivational Training.
    5. Help and guidance in selecting products and preparing project reports.
    6. Making Availability of Techno-Economic Information and Product Profits.
    7. Evolving new products and process.
    8. Availability of Local agencies with trained personnel.
    9. Creating Entrepreneurial forum.
    10. Recognition of skills.

B. Support consists 

  1. Registration Of Unit.
    2. Arranging Finance.
    3. Providing land, shed etc
    4. Guidance.
    5. Supply of scarce raw materials.
    6. Getting or import licenses.
    7. Providing common facilities.
    8. Granting tax relief.
    9. Offering management.

C. Sustaining  consists 

  1. Help modernization
    2. Help Diversification /Expansion/Substitute production.
    3. Additional Financing for full capacity utilization.
    4. Differing repayment interest.
    5. Diagnostic industrial extension.
    6. Production unit’s legislation.
    7. Product reservations.
    8. Quality testing and Improving Services.
    9. Need-based common facilities center.