Entrepreneur is regarded as a person with strong vision, drive and sustainability to bear associated risks on business. He is regarded as the sparking plug who transforms the economic scene. There is cause and effect relationship between entrepreneurship is the cause.
So much emphasis should be given on entrepreneurial development. The thrust of entrepreneurial development is to motivate people to accept entrepreneurship as a career.
The trained and successful entrepreneur becomes ideal for others. The talents of entrepreneurs can be raised by undertaking Entrepreneurship Development Programme (EDP). The need for EDP can be visualized from the following explanations:
i. EDP facilitates in removal of industrial slums because it leads for decentralization of industries.
ii. It facilitates in harnessing of locally available resources which are abundant by providing training and education to entrepreneurs.
iii. In defuses social tension by diverting unemployed youths for self employment. Young youths feel frusted in the absence of employment.
iv. Entrepreneur mobilizes idle savings of the people into productive investment and thereby helps in the state of capital formation.
v. EDP helps in improving standard of living of the people because innovation leads to production of goods and services in a wide sphere.
vi. It facilitates balanced regional development as it enables development of entrepreneurs in different areas of the state or county.