Entrepreneurship Development Cycle

Entrepreneurship Development Cycle

Stimulatory Phase

Generating entrepreneurial awareness in the community through well planned publicity.

Developing a data bank on new products and process available to target group.

Identifying entrepreneurs.

and

selecting

potential

Making

available

techno-economic

information and project profiles

Helping them through training to raise their motivational level.

Helping them to develop project report. Developing a data bank on new products and process available to target group.

Improving their skills in modern management methods.

Creating forums for entrepreneurs to discuss their mutual problems and success.

Developing technical competence relevant to the product selected.

Evolving

new

products

and

processes

available to the local situation.

Public

recognition

of

entrepreneurial

excellence.

Support Phase

This includes all such activities that help entrepreneurs in establishing and running their enterprises. The activities in this phase may include:

These activities provide nurturance and remove many hurdles which are likely to cause sickness or discourage the new entrepreneurs

Registration of the unit. Arranging finance of any type Helping in purchase of plant and machinery. Providing land, shed, power, water, etc. for establishing the unit. Guidance for selecting and obtaining plant and machinery and layout.

Support Phase Issue of licenses for scarce raw materials. Granting tax relief and other types of subsidy. Offering management consultancy. Assisting in marketing the products Providing information related to the industry.

Sustaining Phase

Sustaining Phase Activities in this phase are all those that help the entrepreneur in continuous, efficient and profitable running of an enterprise. The sustaining activities may include:

Modification or change in legislation/policy affecting units. Creation of new avenues for marketing. Quality testing and quality improvement at low cost .

Helping in modernization /substitution of products. Additional financing for full capacity utilization. Deferring repayment/interest depending on the situation. Help and guidance in diagnosing the cause of failure or low production.