Several hindrances and problems inhibit entrepreneurial development. To avoid these, ‘Entrepreneurial Development Programmes (EDP)’ may be formulated along with other efforts. These programmes are helpful in preparing new entrepreneurs and make the path for the creation of a better society.
These are also instrumental in developing positive thinking, by way of eminent healthy, creative, and dynamic psychology.
What is Entrepreneurial Development Programme (EDP)?
The word entrepreneurial development programme (edp) has been framed by a combination of three words: The first ‘Entrepreneurship‘ means the general tendency or desire among society to establish a new business.
The second word ‘Development’ means such a continuing process which is followed to get entrepreneurs too much ahead, by several innovations and changes.
The third word ‘Programme’ implies the determination of sequence for the accomplishment of various activities.
In other words, entrepreneurial development programs (EDP) mean all those efforts of individuals, groups, state governments, and the central government, which encourage the development of entrepreneurs and the enterprising persons to establish new enterprises.
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Objectives of Entrepreneurial Development Programmes (EDP)
The main objectives of entrepreneurial development programmes (EDP) are to provide knowledge of business to the people having no knowledge and to make them successful businessmen.
Following are the main objectives to achieve these goals:
1. To Promote First Generation Businessman and Industrialists
We know that the son of a businessman has the tendency to become a businessman, owing to family traditions, as they are hearing and looking the intricacies of business, since birth, the habit of bearing loss is in their blood and the nature for making investments in developed, by way of inheritance.
But for persons of such families were where the business does not exist, the environment of business is lacking, who does not know anything about business, then entrepreneurial development programmes provide inspiration to enter into a trade, industry, and business.
2. To Create Awareness about Availability of Resources
Various and special types of resources, like raw material, labor, techniques, and technologies are available in all parts of our own country and in foreign countries.
But, due to a lack of proper knowledge about them, these remain underutilized or even utilized.
Hence, entrepreneurial development programmes (EDP) aim at providing information to people about these resources, so that their proper utilization is possible.
3. To Promote Small, Cottage & Local Industries
The aim of the entrepreneurial development programme is to provide inspiration to people for setting up small, local Industries, by utilization of resources available in the nearby areas and areas of their links.
Local resources may be channelized into industrial development.
Related: 17 Importance and Role of Small-Scale Industries (Economy).
4. To Encourage Self Employment Tendencies
Persons have two sources of livelihood, either by service or their own business, which are known as wage employment and self-employment, respectively.
The entrepreneurial development programmes aim at inducing people for self-employment, in place of service, so that they may become the master of his own business and may be able to provide employment to other persons by establishing the business.
5. To Provide Knowledge about Government Plans and Programmes
The government has introduced various schemes for self-employment.
But, they become significant only when people have sufficient knowledge about them.
Related: 15 Tips for Starting a Small Business (You Don’t Know).
Hence, entrepreneurial development programmes (EDP) aimed at dissemination of detailed knowledge and information about self-employment, like how to make use of the government schemes, where from and how to obtain the required reliable information, which department will provide information and assistance about finances, techniques, and technologies, etc.
6. To Make a Successful Entrepreneur
The success of an entrepreneur depends upon certain qualities.
Hence, entrepreneurial development programmes aim at developing all such qualities in them, which may make them successful entrepreneurs.
These qualities include self-confidence, farsightedness, maturity, dynamic approach, dedication, leadership qualities, qualities for innovations, decision making power, etc.
7. To Provide Training to Operate Business
Entrepreneurial development programmes also aim to provide training for successful operations for the business.
In this programs, the entrepreneurs are trained, how to do the business, how to make business dealings with various parties, how to develop cordial relations, how to establish the business balance between various components of the business, and how to combat the difficulties arising during the course of business, etc.
8. To Create Awareness about Marketing
In the present age, it is easy to produce goods, but the selling of goods is most difficult.
Entrepreneurial development programme (EDP) provides information about the markets, to facilitate the sale of goods.
The techniques of sustaining from competitions are also made known and the abilities to take suitable decisions in different situations are also developed.
9. To Develop Entrepreneurs in all Areas of the Country
Normally, it is observed that people establish business and industries and those places, where there are already well established.
As a result, their localization and development take place, but other places or areas remain deprived of the industries and business.
In such situations, entrepreneurial development programmes aim to develop in all parts of the country.
10. To Remove Doubts of Entrepreneurs, Give Solutions and Suggest Remedies of Problems
Whenever a person establishes his own business and industry, he feels many doubts, various problems also arise and he is visualizing several shortcomings.
The entrepreneurial development programmes aimed at removing the doubts and suggesting remedial measures for the problems and shortcomings.
For fulfilling these objectives, programmes of the various subject matter by specialists organized in which prospective entrepreneurs are invited to provide them opportunities for direct contact with these specialists and their problems are well diagnosed and remedies are suggested.
The main objectives of entrepreneurial development programs (EDP) are to provide knowledge of business to the people having no knowledge and to make them successful businessmen. What are the objectives of EDP?
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Amazing , literally helpful this is . thanks for the beautifully explained objectives 😊😊🙏
How can i help you mansi
Thankyou it’s so helpful. And in very easy explanation.
Superb. E D P is beautifully explained in simple language of aspirants .
How can i help you again
Great article! I’m currently in the process of starting my own business and I’m really interested in learning more about entrepreneurship development programmes. Do you have any recommendations?
how can i help you again
Hello, we have an entrepreneur business that provides grants and other resources to help individuals start and grow businesses. What type of data should we be collecting from these start-up entrepreneurs? What should our record keeping consist of? By chance, do you have a business model that you can share?