Analysis of the opportunities for rural entrepreneurship and challenges in the light of global competition

We are aware off the fact that the Rural Population earns their livelihood from agriculture and income from other miscellaneous services to community. The incomes of rural people are very low except the land lords in the rural areas. The urban population on the other hand earns more income due to the entrepreneurial spirit and the multidimensional sources of training rather awareness. The Entrepreneurship Development is lacking in the midst of rural population. Whatever the measures are taken by the Government; unless people take the benefits; the government efforts only would lie on paper. Hence it is imperative to understand the scenario, explore the opportunities for the people residing in rural areas, the question how to enthuse entrepreneurship in rural areas with respect to growing India and global competition need to be explored. This would lead to reduction of poverty and uneven distribution of income in the country. In this context a paper was prepared to study and understand what would be the opportunities for rural entrepreneurship and the challenges expected out of this to sustain in global competition and also how do we develop and integrate the appropriate work force retaining the existing ones. Since most of the Indian populations reside in rural villages, entrepreneurship awareness has to be created among them. The multidimensional aspects of Rural Entrepreneurship are studied with the help of certain success stories and literature review. The findings and suggestions were given at the end of the paper. It was also found that a small innovation in the rural area would definitely catch up the most of the population and that would lead to improvement of Quality of life of many people in the country. Though there are efforts taken on these grounds to promote and introduce entrepreneurship in rural areas it will be more effective once we have proper feedback and regulatory mechanism in place to monitor the progress of the scheme or the growth of the enterprise.