Entrepreneurship in Small Scale Industries: New prospects and opportunities amidst Covid-19 Pandemic

Abstract

Small scale industries have an important contribution in generating employment in our country.. While lakhs of people are unemployed, a large number of the country’s population is passing through poverty and unemployment during this unprecedented covid-19 pandemic times. In such a situation, this sector is able to solve both these problems by providing immediate large scale employment with low investment. The need of the hour is to develop small scale industries to accomplish impartial economic growth. The vigor of small scale enterprises lies in their extensive reach in rural, semi-urban and urban areas, promoting entrepreneurial base, small gestation period and impartial division of revenue and wealth. Therefore, by promoting and encouraging this industry, further boost can be given to the development of the country.

The current research based on secondary data is an attempt to identify various Government promoted schemes and flagship programmes for supporting and inhibiting start-up culture in the SSI sector for boosting up entrepreneurship spirits among youth and to become job creators and not job seekers.  Entrepreneurship is not only a new business model; rather they are new job opportunities, new ideas and solutions to many existing problems. The paper also explores how the Government supported them during unprecedented times of COVID-19.