Support For Entrepreneurial Development Programmes

It is true that entrepreneurs are their own bosses, they make the decision, they choose whom to do business with and what work they will do. They decide what hours to work, as well as what to pay and whether to take vacation or not.

Entrepreneurial development programmes may have to include support for:

_  Entrepreneurship orientation and awareness.

_ Development of the competencies (skills, experience and      attitudes) necessary to recognize a market opportunity and holding organize the resources to meet it.

_  Improvement of business performance for growth and competitiveness.

Entrepreneurship Development training is usually more effective when linked to finance and other services such as marketing, quality assurance and productivity improvement.

For example, involving the development banks at an early stage of the support process helps to prepare the entrepreneur for the credit process and facilitates the bank appraisal of the business plan.
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Successful entrepreneurship also depends on supportive and coordinated government policies, entrepreneurship is conducive to economic growth and the creation of employment.

Government programmes and policies have a significant impact on the level of entrepreneurship in the country. While many government profess support for entrepreneurial businesses, they often lack specific policies and coordinated programmes designed to support entrepreneurial activity.

Fostering entrepreneurship involves ensuring that markets for capital, labour, goods and services are working well. It also requires that impediments to Entrepreneurship be removed and that conditions be established in which innovation and risk- taking can flourish.

 Government policy makers also seek to foster entrepreneurship through programmes which, for example argument the supply of information and enable reliable transportation of goods and services, encourage networking, facilitate the provision of finance and seek to create positive attitudes towards entrepreneurial activity.

Focused policies that facilitate access to finance, professional services and training for start-up companies, that simplify business registration, reporting and taxation, E.t.c  are essential to entrepreneurial ventures Creation.

Achieving Sustainable Entrepreneurship Development

There is a pervasive tendency to equate entrepreneurship development (ED)  with self employment. Many self employed individuals are indeed entrepreneurs, but the majority are not. Their businesses are simply micro-enterprises in the informal sector,  with little  growth potential. The promotion of self-employment is a worthwhile  objective, but it should  not be confused with entrepreneurship development programmes that  in reality focus only on self self-employment are less likely to succeed  in creating economic growth.

Entrepreneurship development should be about helping  people to start and grow dynamic businesses that provide high value added. In determining the difference, it is useful to look at potential growth sectors or geographic areas and to explore criteria for selecting beneficiaries who are entrepreneurial. A needs assessment before programme formulation is useful. An analysis of high-growth economic sectors enable more focused support to entrepreneurs in the most promising sector of the economy.

Entrepreneurship development programmes require a selection process that attempts to identify those target groups that have some of the key prerequisites for entrepreneural success. While it can be argued that public funds should be spent on those who most need help,  a selection process deploys limited resources where they are most effective, to the overall benefit of the community beneficiaries may be individuals and/or groups.

Entrepreneurship development programmes should be formulated to identify risks and determine the likelihood of success, identify the factors that affect the levels of entrepreneurship in the country. These factors include the perception of opportunity, degree of respect accorded to entrepreneurs, acceptance of wide disparities in income and a family environment which is oriented towards business.

An entrepreneurship development programme should help aspiring entrepreneurs to recognize and design unique, innovative business opportunities, based on an analysis of local conditions and their own special  skills. The program can help the entrepreneur to diversify based on his or her basic knowledge of a product or skill in a certain sector without distorting the local markets.