Role of Ecosystem in Supporting Rural Entrepreneurs during COVID-19

Abstract

The rural economy plays a critical role in the development of the nation. COVID-19 pandemic outbreaks have led many countries to impose lockdown. India, the world's second most populated country with more than 65% population in rural areas faced lockdown restrictions which adversely impacted enterprises particularly village level nano enterprises. Analysis of how these village enterprises have been impacted due to the lockdown and factors that have contributed towards tiding over these challenges faced due to lockdown were analysed. Findings suggest that enterprises which had support of community driven and developed ecosystem at the local level were able to survive and perform even in adverse conditions. Micro entrepreneurs trained on entrepreneurship were better placed in terms of managing their resources and were also prepared to diversify into newer opportunities to tide over the adverse impact of lockdown. The study brings out the role of an entrepreneurial ecosystem for rural enterprises that makes them more resilient and sustainable.