Page 35 - IMDR - Journal of Management Development and Research - March2019-20

unemployed. In these circumstances, the entrepreneurs and their enterprises are the

only source and hope of direct and indirect employment generation.
3. Balanced regional development: Entrepreneurs always look for opportunities in

the working environment. They capitalize on the opportunities of governmental
concessions, facilities and subsidies to set up their enterprises in undeveloped areas.

4. Improvement in the standard of living: Entrepreneurial initiatives taken by
entrepreneurs through employment generation leads to increase in income and also

purchasing power which is spent on consumption expenditure. Certainly increased

demand for goods and services boost up industrial activity.
5. Increase in per capita income: Entrepreneurs convert the latent and idle resources

like labor, land and capital into goods and services resulting in increase in the national

income and in turn wealth of a nation.

Major benefits from rural entrepreneurship
Some of the major benefits of rural entrepreneurship can be described below as

follows:
1. Provide employment opportunities: Rural entrepreneurship as such is mainly

labor intensive and certainly provides a clear solution to the growing problem of

unemployment.
2. Balanced regional growth: Rural entrepreneurship can dispel the concentration of

major industrial units in urban areas and also promote regional development in a
balanced way.

3. Promotion of artistic activities in rural areas: The age-old rich heritage of rural
India is preserved by promoting and protecting handicrafts and arts through rural

entrepreneurship.

4. Check on social evils existing in society: The growth of rural entrepreneurship can
reduce social evils like growth of slums, poverty, pollution in cities etc

5. Improved standard of living: Rural entrepreneurship will also increase the

literacy rate of rural population. Their education and self employment will also
prosper the community, thus increasing their standard of living.

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