Created Entrepreneurs from North East : A Study of the Perception and Factors Responsible for the Growth of Successful Entrepreneurs

Abstract

Evolution of society that can nurture and sustain steady and continuous entrepreneurial and innovative activities is the need of the hour. Industrial development of a country is considered to be an engine of growth to accelerate the overall economic development. Industrial development cannot however progress without the development of entrepreneurship. In fact promotion and development of small industries considered vital for ameliorating the scourge of unemployment is intimately linked to development of entrepreneurship. The entrepreneurship development movement has gone a long way in the country in the past three decades or so. For the last three decades, government and various industrial promotion and support institutions have been making considerable efforts to facilitate the process of emergence of new entrepreneurs for setting up small and medium scale projects. These efforts involved making attractive schemes for finance and different types of assistance like technical, marketing, purchases, training, etc. All these efforts did make positive impact in terms of large number of enterprises being set up by new entrepreneurs. There is however a contrasting pattern of growth of entrepreneurs/ entrepreneurial firms of North East and the developed states of India. This is because of cl number of socio-economic factors which are peculiar to the North East. The North Eastern Region is endowed with various resources which can be utilized for the development of industries. Among the resources, only forest, tea and oil have been utilized for industrial development. But their exploitation has not created any major economic impulse and the region remains industrially and economically underdeveloped. The North Eastern Region has been caught in a vicious circle of low education, productivity, incomes, investment and growth.