Tuesday, June 02, 2020
Entrepreneur's Corner

Avenues for Entrepreneurs

By EMN Updated: Jul 28, 2016 12:00 am

By Ricky Ozukum

After thorough writing about the different aspects of entrepreneurship, it is reasonable fair to highlight the different opportunities available for those who wish to start a business or needs aid to sustain their enterprises, as an independent entrepreneur. There has been many instance and situations where one has tremendous ideas and zeal to start a venture but faces many constraints. It is no doubt that the central government for more than a decade has made efforts to promote entrepreneurship development in the country. That effort is still continuing with the government trying different schemes and plans. It has to be noted that there can be more than different schemes and institutions which provide opportunities for budding entrepreneurs. In today’s issue, I would like to highlight few schemes and opportunities which are either provided by the government or private institutions.
The Startup Village Entrepreneurship Programme (SVEP): This is one of the latest programmes that the central government introduces last year. The Startup Village Entrepreneurship Programme (SVEP) seeks to give a thrust to rural entrepreneurship. It was launched in Nagaland on November 2015. Nagaland is the first state in North East to be selected to start this programme. Chumukedima and Jakhama were chosen as the ‘pilot’ RD blocks to begin with. However, in times to come, this will be initiated in more areas in the state thus, benefitting more people. SVEP will provide start-up (activate) support to rural enterprises by addressing three key elements: knowledge, advisory and finance. One of the features which are different from other programmes is its objective to first develop and train a human resource pool at the village level, who will guide and support the selected entrepreneur or enterprise. Thus, SVEP will help the entrepreneurs covered by it to access finance for starting a chosen enterprise and seeing them through the initial six months. The SVEP is a programme which will provide training and a loan to start/run a business.
SVEP will support any kind of enterprise: trading or manufacturing of handloom/handicrafts products or services, which can be run by a village-based individuals or group. At the state level, it will be implemented by recognised ‘Project Implementing Agencies’ (PIA) in partnership with the State Livelihoods Missions. Therefore, Nagaland State Rural Livelihoods Mission is partnering with Entrepreneurs Associates in the state. The project or programme’s execution period is estimated at 4 years. One can check their website for more details – http://aajeevika.gov.in/content/start-village-entrepreneurship-program-svep-guidelines
NABARD – National Bank for Agriculture and Rural Development: NABARD was set up more than three decades back by the Government of India to promote sustainable and equitable agriculture and rural prosperity through effective credit support, related services, institution development and other innovative initiatives. Over the decades, it has done a lot in the field of agriculture and rural development. Apart from being financial institutions, NABARD also provide numerous government sponsored schemes in the form of investment credit, production credit, farm sector and non farm sector. From investment credit perspective, schemes are provided for dairy entrepreneurship development scheme, rural godowns, solar schemes etc. From production credit part, schemes such as sugar package, weaver’s package etc is provided. One can check out their websites for more details – https://www.nabard.org/english/Home.aspx
Central Government Sponsored Schemes for Entrepreneurs and Businesses under MMSME: Under the Ministry of Micro, Small and Medium Enterprises with joint collaboration between different departments have initiated various schemes for entrepreneurs. This is initiated to encourage and motivate young minds to innovate & generate ideas, and to promote self-employment and women entrepreneurship. Schemes and programmes for entrepreneurs especially for small, micro and medium business can benefit from this. Through MMSME, Government of India offers various schemes in different sectors such as agriculture, chemicals and fertilizers, finance, commerce & industry, communication & Information technology, food processing, housing & urban poverty alleviation, etc. MMSME provides various opportunities such as financial assistance, insurance, subsidy, training, business loans, helps early stage tech start up and special incentives for budding entrepreneurs.
Below are the different schemes by MINISTRY OF MICRO, SMALL & MEDIUM ENTERPRISES. The details can be check out from their website – http://msme.gov.in/mob/SchemeNew.aspx
SME Division Scheme
1. Scheme for ‘Providing financial assistance on International Cooperation’
2. Scheme for ‘providing financial assistance for performance and credit rating under PCR Scheme
3. Scheme for providing establishment of new institutions (EDIs), strengthening the infrastructure for EDIs under ATI Scheme
4. Scheme for providing financial assistance on marketing support under Marketing Assistance Scheme
ARI Division Scheme
1. Scheme for providing financial assistance to set up new enterprises under PMEGP
2. Scheme of Fund for Regeneration of Traditional Industries(SFURTI).
3. A Scheme for Promotion of Innovation, Rural Industry & Entrepreneurship.
3. Scheme for providing insurance cover to khadi artisans under Janshree Bima Yojana
4. Scheme for providing financial assistance to Khadi institutions under MDA
5. Scheme for providing financial assistance for R & D activities of Coir Board under Central Sector Plan Scheme of Science & Technology (S&T) of the Coir Board
6. Scheme for providing financial assistance to Coir units under Coir Udyami Yojana(CUY)
7. Scheme for providing financial assistance to Coir Vikas Yojana(CVY)
8. A Scheme for Promotion of Innovation, Rural Industry & Entrepreneurship.
DC MSME Scheme
1. Scheme for ‘Providing Financial Assistance on Bar-Code’ an NMCP Scheme
2. Scheme for ‘Support for entrepreneurial and managerial development of SMEs through incubators’- an NMCP Scheme
3. Scheme for ‘ Enabling manufacturing sector to be competitive through Quality Management Standards and Quality technology tools’- an NMCP Scheme
4. Scheme for ‘Building Awareness on Intellectual Property Rights’ (IPR) for the Micro, Small & Medium Enterprises- an NMCP Scheme
5. Scheme for ‘Lean Manufacturing Competitiveness of Micro Small and Medium Enterprises (LMCS)’- an NMCP Scheme
6. Scheme for ‘Setting up Mini Tool Room & Training Centres under PPP Mode’- an NMCP Scheme
7. Scheme for ‘Building Design expertise of MSMEs Manufacturing sector (Design clinic scheme)’- an NMCP Scheme
8. Scheme for ‘Marketing Assistance and Technology Up-gradation of MSMEs’- an NMCP Scheme
9. Scheme for ‘Technology and Quality Upgradation (TEQUP) Support to MSMEs’- an NMCP Scheme
10. Scheme for ‘Promotion of ICT in Indian Manufacturing Sector (ICT)’- an NMCP Scheme
11. Scheme for ‘Micro & Small Enterprises Cluster Development Programme (MSE-CDP)’
12. Scheme for ‘Credit Linked Capital Subsidy for Technology Upgradation (CLCS- TU)’
13. Scheme for ‘Credit Guarantee Fund for Micro and SmalI Enterprises’
14. Scheme for ‘ISO 9000/ISO 14001 Certification Reimbursement
15. Scheme for ‘Market Development Assistance (MDA) to MSMEs’
16. Scheme ‘Strengthening of Training Infrastructure of existing and new Entrepreneurship Development Institutions’
17. Scheme for ‘Micro Finance Programme’
18. Scheme for ‘National Awards’
19. Scheme for ‘Supporting 5 selected universities / colleges to run 1200 entrepreneurship clubs per annum’
20. Scheme for ‘Trade Related Entrepreneurship Assistance and Development (TREAD) Scheme to Women’
21. Scheme for ‘Entrepreneurship Skill Development Programmes (ESDP)’
22. Scheme for ‘Vendor Development Programme for Ancillarisation’

By EMN Updated: Jul 28, 2016 12:00:48 am
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