Promoting sustainable micro enterprises in rural places through boosting entrepreneurship holds major key for addressing many a problem viz. unemployment, balanced regional development, best utilization of rural resources, avoidance of migration, gender equality, social development, etc. Of the 10.5 million new manufacturing jobs created between 1989 and 2010, only 3.7 million (35%) were in the formal sector i.e. informal firms account for most employment growth, that’s why the need to promote entrepreneurship. The technology, infrastructure, and industry advancement have paved way for many start-ups in urban and micro and small enterprises in rural hinterland. With a population in excess of 1.2 billion, it is next to impossible for the government to provide for the basic needs of all citizens and therein lies the opportunity for entrepreneurs and innovators. Entrepreneurs fundamentally see opportunity where challenges. Further, providing employment to millions of unemployed rural youth by government is equally unrealistic.
The surplus agricultural labour and closure of traditional village industries, resulting in increased unemployment in rural areas and migration of rural youth to urban areas, putting more pressure on the urban infrastructure and amenities. There are a large number of products and services available in rural areas, which can be leveraged by entrepreneurs to set-up new and small micro enterprises. However, a promoter of rural enterprise faces a plethora of problems, usually called teething troubles in respect of seed capital, working capital, quality of products, marketing problems (competition, middlemen), management problems and human resources problems. Thus, promoting entrepreneurship education and training assumes greater importance in the present context of rural unemployment.