Vivek Mishra & Dr T k Jain
Abstract: The policies concerning the creation & management of social entrepreneurships are yet to be crafted in majority of the countries including India. This paper focuses on policies & recent policy developments within India. Attempt has been made to highlight necessities & developments a entrepreneurship policy requires to grow in India. On one side where there is no or very less efforts have been done for promotion of policy entrepreneurship in countries like India , on other side , many efforts have been taken in developed countries .Main goal of paper is highlighting foundation for development and expansion of policy entrepreneurship In India
Keywords: Policy entrepreneurship ,Enterprise; Entrepreneurship; Policy ; Government; India
By :Vivek Mishra Research scholar ,Suresh Gyan Vihar University,Jaipur
Dr T k Jain : Research supervisor , Suresh Gyan Vihar University
,Jaipur
1 . INTRODUCTION
The paper lays the nascent foundation for understanding how the different actors of entrepreneurship ecosystem can come forward for constructive entrepreneurship policy development in India.
There is increase in per capita income , because of positive impact of entrepreneurship on it in India((Awasthi et el., 2006). There is great scope and requirement for entrepreneurial economy in the developing countries like India (Figini and Santarelli, 2006)
As competition is increasing day by day in all fields globally
, government is generating employment, supporting local businesses in particular and enhancing the global competitiveness of the small firms, under New initiatives like „Make in India „ policy (2014).
There are many other policies of government of India , which lead to rapid technological advancements,like , National policy for skill development and entrepreneurship‟ (2015).
As government has recognised role of policy entrepreneurship in increase in its per capita income , Furthermore, there has been an increased recognition of the role of entrepreneurship in employment generation, economic wealth creation, social and economic renewal, addressing inequality, and a range of other social and economic problems (Awasthi et. el., 2006; Carree and Thuruk, 2003; GEM, 2002)
In other parts of world ,also, Governments paying attention to entrepreneurship policy and its promotional acitivities and are subsequently implementing strategies in order to enhance the level of entrepreneurial activity in their respective nations (Minniti, 2008). The research analysing the importance of entrepreneurship in economic growth is increasing across many nations.
Entrepreneurship and related activities are being recognised as representing socially innovative and sustainable model of future development for the whole world (Leadbeater, 1997; Oatley, 1999)
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2. LITERATURE REVIEW
Entrepreneurship offers opportunity to create businesses that are economically viable, scalable and job creating (Harding R, 2004). The role of SEs in employment generation is globally acknowledged (Noya and Clarence, 2007; OECD, 1999).
Entrepreneurship not only play role in promoting local development, , improving attractiveness of an industry and locality (ECOTEC, 2001) but also has impact in fighting a range of other social issues, entrepreneurship represent the most effective strategies (as compared to either private or public) for fulfilling the public goals.
Entrepreneurships contribute more effectively to sustainable growth and development of the economy for nations.
Indian government is taking many steps for empowering entrepreneurship policy in India , through SIDBI, NABARD & MSME , entrepreneurship is also promoted through under public-private-partnership (PPP) model, not only in single state but in whole country .
Funds are major hurdle for running a business by any entrepreneur , but government of India has taken initial step to promote entrepreneurship by helping such entrepreneurs through regulating the “Social Venture Funds” within India. (In 2013„„InCube Connect Fund‟‟ Gujarat, was recently approved by SEBI under SEBI (AIF), Regulations, 2012 as India‟s first social venture fund). Such policy interventions are hopeful to greatly impact the entrepreneurship and entrepreneurship policy development within the nation.
Different types of entrepreneurships in India are :
1) Hybrid structures : which is combination of both profit & non profit organisations
2) Profit organisations: sole proprietorship (like ACE CHEMICALS), partnership , private firm and co- operative.
3) Non profit organisations: religious foundations , charity like birla foundations
Government of India is involved in shaping the policies concerning the management of Micro, Small, and Medium Enterprises (MSMEs) within India.
Desired entrepreneurship policy outcome means an increased level of entrepreneurial activity in an economy. If entrepreneurship is a system, then the role of the Government and institutions is to foster environment that
will produce a continuous supply of new entrepreneurs as well as to offer conditions that will enable them to start and grow enterprises.
Lundstrom and Stevenson (2005), defined entrepreneurship policy for the first time as the policy measures taken to stimulate entrepreneurship at different stages (pre-start, start-up and early post start-up phases) of an entrepreneurial process.
According to a foreign author , policy entrepreneurship is essentially a systemic process, activities, a social phenomenon that emerges within the broader social, economic and political context and involves a diverse and large number of actors.
Policies for entrepreneurs should be designed in such a way that policy that will regulate, reinforce and promote the interactions between different system components as well as social entrepreneurial activities within the ecosystem. The outcome of the systemic process should ideally help in bringing in a new supply of potential entrepreneurs, while on other hand ensuring their success in establishing, managing and growing the business ventures.
Success of business venture not only depends on general business skills (like creative problem solving, strategic thinking, negotiating, deciding under uncertainty etc.), but also a range of other social business skills (like networking, resourcefulness, passion for its causes, business value creation, business capital etc.)
Government role in promoting entrepreneurships
1) The policy measures at this stage would be strive to obtain the combination of skills through diverse entrepreneurial education and training programs for upcoming entrepreneurs.
2) Government utilizes the already existing network of education, training and entrepreneurship research institutions within the country
3) Government also do supporting the individual social entrepreneurs through providing multi- aspect support and services at pre-start and start-up phases of individual policy entrepreneurship process like start-up financing facilities which include for example better access to start-ups finance/soft loan/venture or angel capital, increasing „impactful capital‟ „social venture fund‟
„business incubators‟ etc.
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4) Government is identifying the key sectors with high social impact as well as will strengthen and improve the future research and development of the entreprenural sector in India.
5) Government is providing the ease of establishing as well as running an enterprise within an economy, like providing these at economic or tax free prices example , construction permits, getting electricity, registering property, accessing credit, protecting investors etc.
6) legal recognition of entrepreneurships is must advocate as far as policy framework of entrepreneurships is concerned. Internet/social media access may be regarded as an important for entrepreneur’s infrastructure variable in modern days and thus can be prioritized by policy measures. All these are provided by government at economic prices.
Policy entrepreneurship- Reviewing level
Through government support and various programmer running under government banner , policies can be implemented.
Implementation of policies depends upon how much a policy can support a entrepreneur venture and can be beneficial for entrepreneur. objective of evaluation can well be managed by making assessment under subheading
„Policy Implementation Unit‟, under „National policy for skill development and entrepreneurship-2015‟‟.
CONCLUSION:
Policy development for entrepreneurship is still at its budding stage, still lot of has to be done in this field.
Till the date there was no concern with developing policies for entrepreneurs in India as well as many other countries But with passage of time , now governments are taking interest in developing framework concerns for entrepreneurs across the globe , yet it is challenging field of policy development within India.
The framework is expected to stimulate the discussions on theneed and implications of reviewing existing or emerging plans for policies on entrepreneurship promotion and regulation within the country.
For a better productive and conducive policy framework, the researchers can advance the current model
by identifying and incorporating different levels of analysis, between running system and its components.
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