If you are an entrepreneur operating a small or medium scale business in India, you must have come across the term EDP, i.e., Entrepreneurship Development Program. These skill development programs aim to strengthen the entrepreneurship power of an individual so that they run their business with enhanced abilities. This program is beneficial for students and professionals since it helps develop the skills of running a business successfully.
Now, you would ask, why do professionals need the skills of running a business when they are already doing so. At times, an individual has entrepreneurial skills that need further polishing and incubation. Hence, such skill development programs is best suited for anyone looking forward to being perfect at handling business. The skills taught during this program help a person acquire all necessary capabilities and skills to play the role of an entrepreneur effectively.
To encourage individuals to do good in their entrepreneurial journey and drive their business forward to success, the government has introduced several Entrepreneurship Development Programmes. Such programs have structured training for individuals to understand business needs and act accordingly. Today, our article is focused on the programs introduced by the government to help small-medium scale businesses succeed.
Objectives of EDP
The primary objective behind the introduction of this program is to motivate an individual to choose entrepreneurship as a career. Furthermore, this will help the person exploit opportunities available in the market for their business. The objectives are based on both long-term and short-term.
● Short-Term Objectives:
The objectives set in the short term can be achieved immediately. The individuals are trained to become entrepreneurs and operate skillfully and competently in the competitive market. In this program, the individual is taught to have a mission of being an entrepreneur first and then act accordingly. The information related to the rules and regulations is essential for individuals.
● Long-Term Objectives:
The ultimate objective of skill development programs on long-term basis is that trained individuals set up their business, and to make the most of their business, they should be equipped with all required skills to run their business.
The overall objective of the Entrepreneurship Development Programme and skill development programs is to enable rapid growth of the economy by supplying skilled entrepreneurs.
Top Programmes Of Entrepreneurship Development
The office of (DC) MSME conducts many entrepreneurship development and vocational programs. The vocational training is conducted by several different authorities, including Departments of the Government, Ministries, etc. Additionally, the responsibility of entrepreneurship development lies with the office, primarily.
Some of the programs introduced for the betterment and enhancement of entrepreneurial skills in individuals are listed below:
Industrial Motivation Campaigns
This campaign is conducted and organized to identify and motivate the traditional and non-traditional entrepreneurs who have the potential of setting up a small-micro enterprise. The programs are led by the MSME-DIs and are only one day long. They are the best fit for people who are 18 years or above and can prove themselves as entrepreneurs.
Entrepreneurship Development Programs (EDPs)
These are comprehensive skill development programs held to nurture youth talent by giving them insights into various aspects of industrial activities. The course content provides insights on different stages of a business that include the manufacturing practices involved, product/process design, quality control and testing, marketing techniques, and several other aspects that help them drive their business forward. The program is again held by the MSME-DIs and is usually two weeks long.
Entrepreneurship Skill Development Program
These skill development programs are held to upgrade the skills of prospective entrepreneurs, the existing workforce, etc. The primary objective behind this program is to provide training that would boost their abilities and, at the same time, equip them with technological skills that help in the production process.
This program makes robust efforts to train as many individuals as possible on extensive business opportunities to work efficiently and flexibly in various domains. MSME-DIs conduct this program and is held for six weeks. People 18 years of age and above can join this program and get their skills nurtured.
Management Development Programs
The objective behind launching this program was to impart training on modern management practice systems and enhance an individual’s decision-making capability. In this program, inputs on a wide variety of topics of managerial functions are provided by the experts for the participants to understand how things work in the entrepreneurship world.
The training is designed to keep the new demands of the spectrum in mind to make sure individuals are imparted with all the required knowledge. MSME-DIs conduct such programs in two different ways, full-time and part-time. When you opt for a full-time program, you will have to give one week, and two weeks is required for a part-time course.
Women Entrepreneurship Development Programme
The government started this program and is now conducted at Jaisalmer. As the name suggests, the program is specially conducted for aspiring women entrepreneurs. That said, all prospective women entrepreneurs can choose to undergo this program and do something big.
The program imparts business knowledge right from scratch to help women start everything independently. MSME-DSIs conduct this program to help budding women entrepreneurs in their journey of becoming successful ones. This skill development program is almost six weeks long, so every aspect is effectively taught.
Benefits of EDP
Entrepreneurship Development Programmes are held to impart business knowledge to an individual, and the programs have several benefits. Some of the critical benefits of EDP include:
- Access to Funding: The program gives entrepreneurs access to several financial institutions ready to fund their business and help it grow. The program doesn’t provide funds directly, but it provides access to the network financing partners who would be interested in funding your business.
- Business Guidance: When you start something of your own, you don’t know everything to carry out the procedures smoothly. This program provides essential entrepreneurship guides that help run your business effectively. Such interactive and insightful guides help you take your business forward.
- Access to Specialists: During the journey of running your business, at some point, you will need the services of professionals to remain sustainable and drive it forward. Experts offer great help when it comes to the critical aspects, such as legal help, financial advice, human resource, etc.
If you think that anyone who starts a business can play the role of an entrepreneur, then you are of the wrong notion. Playing that role is not easy, especially when you are not an expert in the domain. It takes a lot to become a successful entrepreneur, and in the ever-changing landscape, keeping yourself updated with unique and in-demand skills is a must. Basic and unique skills are required based on the type of business you wish to start, and EDPs play a significant role in helping all budding entrepreneurs take their businesses to new heights. The programs help train individuals on how to start a business and impart tips that help them sustain their established enterprise to attain success.