Entrepreneurship: A preferred area to overcome job crisis

Kashmir’s socio-economic condition is entangled withunstable socio-political and socio-economic dilemmas. Although, many governmentregimes have offered protection/subsidy policies and made ample efforts toenhance entrepreneurial activities  butall such hard work do not bring the desired outcome as instable politicalcondition cause a major hindrance in executing strategies. Besides law andorder condition and political instability, there are further dilemmas which arebigger and more extensive.

Fostering entrepreneurship is not only vital for promotingKashmir’s competitiveness but also imperative for a journey to prosperity forthe underprivileged. Entrepreneurship development has the potential to createjobs through the formation of new business ventures; utilization of availablelabour and resources to create wealth, stimulate growth, and boost the economy.

   

Government has a practical role to play in providing an overallenvironment that facilitates people in identifying and developingentrepreneurial qualities in them. Overall environment includes financialassistance policies and schemes, establishment of entrepreneurship innovativecentres to let entrepreneurs grow. Supporting policies of government not onlyassist entrepreneurs in generating revenues for the government but also helpsin combating with the unemployment in the state.

State does not have a Policy Framework to promoteentrepreneurship. The challenges of promoting entrepreneurship and innovationare cumbersome government regulations, limited financing options for start-ups,low levels of education, (entrepreneurial skills) poor perception aboutentrepreneurship as it is equated with small business in selected areas only.Besides, entrepreneurship is not encouraged as a career option for younggraduates in our society. People in the Kashmiri culture are conditioned toattach the stigma of failure to the self starters or beginners.

If the state’s economy is to be developed and the state hasto tag it-self as a state of entrepreneurial intellect, urgent and stringentmeasures need to be taken. Some of which are recommended as under:

1. The current government should devise strategy tochannelize interest free loans through institutions of higher businesseducation in public universities which have separate entrepreneurshipdevelopment departments. At this level innovative ideas should be supportedwith such loans.

2. At the same time, other colleges should be helped andencouraged in introducing entrepreneurship programmes at the master’s level.Secondly, the government should target both rural and urban comparatively lesseducated but deserving youngsters through the scholarship based short-termcourses with the help of vocational institutes. Interest free loans at thislevel can be distributed on the basis of the performance of the individualcandidate and the recommendation of institute.

Bilal Ahmad Dar is working on a project on youthentrepreneurship and education in conflict areas at Kashmir University

Leave a Reply

Your email address will not be published. Required fields are marked *

2 × 5 =