An Empirical Study On The Role Of Rural Entrepreneurship On Socio-Economic Development Among Rural Mass

Abstract

The rural areas constitute about two-thirds of the Indian population, with over 60% of the people reliant upon agriculture as their primary source of income coupled with the prevalence of high levels of poverty, unemployment, and migration. With the decrease in the contribution of agriculture to rural family income, it is essential to diversify economic activities in the rural landscape. The key to overcoming the above problems is to unlock the potential of entrepreneurship in rural areas. The main aim of the paper is to analyze the impact of rural entrepreneurship on socio-economic development with a study sample of 130 rural entrepreneurs from Kancheepuram and Perambalur districts of Tamil Nadu, India. It provides key insight into, how the location of the enterprise and the type of business act as a major factor in determining the income earned from the business. The findings reveal the availability of resources and access to them have a significant impact on income. The survey also points out the variations between genders when it comes to starting businesses. Overall, the study highlights the importance of rural entrepreneurship in better income-generating opportunities and serves as a means for the effective allocation of local resources, thus preventing rural-urban migration and reduction of poverty and unemployment.