An Entrepreneurship Model to accelerate Economic Growth and Human Welfare

Abstract

Despite economic reforms since 1991, and introduction of various entrepreneurship promotion programmes, India continues to face chronic problems of poverty and unemployment, among others. Regional disparities persist. These problems can be mitigated with greater attention to entrepreneurship. This paper aims at developing an Entrepreneurship model with thrust on regional development.. Initially, the paper covers the concept and importance of entrepreneurship. Then an entrepreneurship model has been developed focusing on regional development aimed at mitigation of poverty, unemployment and related aspects concerning India. It also deals with the issues of government regulations, size of firms, technology, institutional coordination and other relevant issues. Potential entrepreneurs belong to various backgrounds of family, age, education, skills and traits. Motivating them towards entrepreneurship is vital which has been dealt with in the model. Finally, the feasibility of the model has been highlighted by giving an account of some people and programmes, concerning entrepreneurship.