Building a Generation of Micro Entrepreneurs through Skill Development

More than app. 50% of India’s total population falls below the 25 years of age bracket; the country is slated to become one of the world’s youngest nations by 2022. This demographic dividend provides not only an enormous reserve for manpower, but also draws focus on employability. India, hence, faces a great opportunity, and challenge, to tap this young potential.

Skill Development Courses enable and empower individuals by not only enhancing their employability quotient, but also by helping secure productive employment, making them self-reliant and confident—either through a job or through entrepreneurship. Micro –entrepreneurship, in fact, contributes significantly, in its own way, to the economy by not only generating employment opportunities through utilization of potential human resources, but also by supporting bigger industries in lieu of peripheral, yet fundamental support. A small enterprise can go on to become an enterprise of national or even multinational repute, if it possesses effective and efficient systems.

Let’s take a simple example of a tailor, who has recently acquired a skill as a sewing machine operator. He/she opens a shop in the neighborhood, aimed at securing customers from the immediate area. Depending on a few factors like the quality of his work, ambition, scope of growth, et cetera, the customer base increases, and so does the income, in an ideal scenario. An increase in customer base could well lead to handling projects for a consortium of brands, requiring enhanced work force. In this process of escalation, not only has personal and professional growth for the self been acquired, but also for others, by way of a domino effect.

Similar is the case with any other trade like plumbing, electrician, beautician, and many others. In this tech-savvy world, there are also common platforms for networking amongst professionals, who can not only reach out to customers, but also vice versa. Courses on Artificial Intelligence, Digital Marketing Courses, and Cloud Computing are also becoming increasingly popular due to the huge number of jobs being created in these fields.

Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is the flagship scheme of the Ministry of Skill Development & Entrepreneurship (MSDE) under which various Short Term Courses are available for people who are either school/college dropouts or unemployed. Under Pmkvy Courses the entire training and assessment fees are paid by the Government. Apart from providing training as per the National Skills Qualification Framework (NSQF), candidates are also trained in Soft Skills, Entrepreneurship, Financial and Digital Literacy.