01 6200930

Community Development through Entrepreneurship

Community Development through Entrepreneurship

It has been estimated that Nepal population with 70 percent of them being under the age of 35 years(2011 census report). Twenty percent of the population is between the ages of 15-30 years. With the astronomical percentage of unemployment, huge volume of young population is left out of the mainstream. It is estimated that around 1.5 million youths in the country who are totally unemployed.

Among the total Nepalese population of 23.1 million, 47 percent (around 11 million) are underemployed. The rate of unemployment is increasing rapidly. The unemployment rate is raised in urban areas. In response to the lack of job opportunities, Nepal is continue to seek employment outside the country. Mostly in India, the Gulf Cooperation Council countries and more recently in Malaysia. Estimates indicate that, in 2011 there were approximately 1.92 million international migrants (including labor migrants) from Nepal. This is a big number and in absence of economic growth this figure is likely to increase in coming days.

Poverty, unemployment, Underemployment and the need for faster economic growth remain key challengers for development in Nepal. Underemployment, here, is defined as the state where if you put out the additional labor force from a particular household, there will be no change in productivity. This is just subsistence work.

Today’s world with rapidly increasing population offers limited opportunities for paid employment. The only hope of reducing unemployment is through a functional entrepreneurship development strategy. So by development appropriate strategy in community, employment opportunities can be created. For the economic development of people the changes must be seen from micro level. SDPI focus on the community development through the entrepreneurship.     

Entrepreneurship is an important component of industrial growth and development of nation. Entrepreneur are those who have capacity and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit, combined with land, labor, natural resources and capital can produce profit. Entrepreneurship is seen as a process which involves the effort of an individual (or individuals) in identifying viable business opportunities in an environment and obtaining and managing the resources needed to exploit those opportunities.

Nepal is a developing country, Economic plays a significant role for the development of nation. It’s an advantage to Nepal that the population of youth is 40% which if can be best fitted in employment activities the development pace can be positively rapid. Nepal is small country with higher variability of resources and probable opportunities to work upon like in agriculture, handicraft, production, herbs, tourism, food, small enterprise etc. By identifying the source that is easily accessible in community an opportunity will be created.

Community can be get developed when people have their own work to do i.e profit making. In the scenario of Nepal, we can facilitate job creation and income enhancement through the development of the natural resources of the region within parameter that protect and enhance the environment. 

We are planning to make a model village in Simle village of Sindulpalchowk. For the complete model village conccept some working areas are identified, they are listed below:

  • Good governance
  • Entrepreneurship
  • Health
  • Education social security

Following are the activities that will be conducted in this program.

  • Education and Counseling: In Nepal, above 75% people are engaging in agriculture. Every people do entrepreneurship in their own (Traditional) way. Still people don't have an idea about entrepreneurship. First step we go through is Education in entrepreneurship. Education may contain Entrepreneurship training and Business counseling programs aspiring and start-up entrepreneurs can often benefit from participation in training and counseling programs. Furthermore, Participants will learn how to become entrepreneurs through the process of starting their own businesses. Counseling programs may be more appropriate for entrepreneurs who have already developed a business plan but need assistance with specific aspects of the business.
  • Entrepreneurship: After the Good Education and counseling people will get insight and will encourage for the entrepreneur path. Entrepreneur will develop; designing, starting and running an appropriate strategy for social enterprises and will develop initial ideas in this sphere. Furthermore Consultancy service will provide for them, which will help in ongoing support for all the stages of business plan development and implementation. This program will contribute to a sustainable community development and to enhancing the capacities of the local people in generating income through t running social entrepreneurship
  • Financial Literacy: In small businesses need to grow profitably in order to succeed. The ability to scale a business in a profitable and sustainable way requires financial literacy. Financial literacy helps to know basic component accounting process. Entrepreneur need to know how to accurately record revenues and expenses and most important they must have understanding cash flows which keeps business alive. Such as account payable and receivables. Due to illiteracy, people might not able to account their transactions. So for the betterment of the entrepreneur, SDPI will provide a financial management training for every entrepreneur.
  • Market Development: Rural communities are isolated geographically, have no idea to connect business with the urban market. To get benefit from business they need an appropriate strategy. SPDI will focus on the necessary marketing strategy and help to identify the access to appropriate business services. Technology is easier means to get connected with the market but it is still an obstacle for many entrepreneurs.