Entrepreneurship in JK

Published at May 17, 2018 03:52 AM 0Comment(s)2316views


Entrepreneurship in JK

Many young and dynamic entrepreneurs who emerged in the last ten years have redefined the industries with their business ideas and models. Start-ups with small investments but sound business models have not only been able to sustain the people behind them but also others who otherwise would have been counted in the unemployed list. The state therefore ought to do more than lip service to promote entrepreneurship in the state. To begin with, enterprises need to be registered and all formalities required of the entrepreneurs need to be simplified. Registration helps keep track of new business enterprises and also in the diagnosis of those projects that either get stuck in limbo or are forced to close down for want of assistance. The government took a meaningful step when it eased the process of obtaining NOCs, but it didn’t move any further. The biggest worry for most of the entrepreneurs is capital. Seeding the capital directly to the entrepreneurs is not a good idea as it invites corruption and nepotism. It requires a robust and completely transparent system to link money matters and the state policy, otherwise a lot of bogus entrepreneurs who have their eyes on the financial assistance (money) provided by the state get attracted. There are a number of state and centrally sponsored schemes that can be realigned to help the genuine entrepreneurs. But again the main obstacles are the accountability and the implementation of the schemes. The government can also boost entrepreneurship in the state by engaging small set-ups, units and business enterprises. For instance the government itself requires different products and services, for which tenders and contracts are issued from time to time. If the products and services can be delivered by the entrepreneurs, as a priority, it will also help the enterprises to take off. Therefore the government has to set its priorities as for established businesses it doesn’t affect much but for entrepreneurs it can prove to be the big break. There is a need to have more institutions in the state that can provide necessary training on all aspects including business and operations. Industrial training institutes can also be upgraded to boost the endeavors. The institutes have been churning the work force and not the industrialists and entrepreneurs, which is required. The government has to make finer adjustments in its policies and also use the available resources in the best possible manner.    

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