Entrepreneurship: A Way to Mitigate Unemployment
Authors/Creators
- 1. Associate Professor, Department of Management Studies, VFSTR (Deemed to be University) Vadlamudi, Guntur Dt
- 2. Professor, CDOE Department, KL University, KLEF, Vijayawada.
- 3. Associate Professor, Department of MBA, Priyadarshini Institute of Technology and Management, Pulladigunta, Guntur.
- 4. Assistant Professor, Department of MBA, Narasaraopet Engineering College, Narasaraopet.
Description
Abstract
In most developing nations, rising unemployment has replaced falling living standards as the primary barrier to poverty. As a result of the per capita income's sharp decline, the poor are getting poorer. Even those who are literate struggle to make enough money to meet their requirements and are either underemployed or unemployed. According to the criteria of the sector, there is a severe scarcity of skills among qualified graduates. India has a sizable population of educated unemployed workers who are unable to economically benefit society and the country. How to increase economic empowerment in society is the primary challenge facing governments today. The country's excluded literate adolescents' economic empowerment can significantly contribute to local economic growth. An atmosphere that encourages entrepreneurs to launch their own businesses and grow the micro economy is necessary. The answer may lie in educating kids about entrepreneurship and providing skill-based special trainings. A few of the efforts in this direction could include information dissemination, financial access, mentoring, and company incubation facilities in educational institutions. This sizable population of educated unemployed people can boost local commerce activity and job development by adopting an entrepreneurial mindset. Thus, the urgent need for an effective education system that meets industrial needs and is geared towards equipping young people with literacy is present.