Challenges Opportunities And Prospects Of Rural Entrepreneurship

Masterarbeit aus dem Jahr 2020 im Fachbereich Politik - Internationale Politik - Thema: Entwicklungspolitik, Hawassa University, Sprache: Deutsch, Abstract: Currently, there has been a growing interest in small rural business development and entrepreneurship as conduits for accelerating job opportunities – for the youth and for poverty reduction. Despite the policy recognition, the economic performance of the rural entrepreneurs or enterprises is not ground-breaking. This might not be without any factors that daunting the development of the rural entrepreneurs to make their due contribution to the development of their community. Hence, this study was undertaken in order to assess common militating challenges of the development pace and fate of rural entrepreneurship, to trace out the opportunities open to start new businesses and expand the existing ones and to examine the prospects of rural entrepreneurship. In order to achieve the desired objectives the study both qualitative as well as quantitative methods were employed. From the total of 503 entrepreneurs in the study area 125 samples were selected using multistage sampling technique. In line with this, structured questionnaire and unstructured interview were employed as instruments of data collection. The data collected through questionnaire was analyzed quantitatively and to analyze the interview data qualitative approach was applied. After the data analyzed carefully, it was found that, the rural entrepreneurship in the study area conditioned by different business environment factors which are either internal or external to the businesses. Personal traits of business owners and managerial competences and skill related deficiencies are among internal factors affecting their success. Whereas market factors, economic factors, political factors and social factors were among the challenges external to the business setting. It was also found that rural areas are not unfortunate areas to do business even though there were militating challenges. In order to make them a true catalysts of rural development, rural entrepreneurs themselves should be vigilant of the existing opportunities and make attempt to change opportunities into business, government should also play a primary role in solving its internal limitations that hinder the possibility of rural transformation through rural entrepreneurship and different bodies i.e. media, NGOs should take part in promoting rural entrepreneurship.

Though entrepreneurship has been studied for decades, in recent years, the study of “rural entrepreneurship” has emerged as an upcoming subtopic of the area. With the growth and continual ease of utilizing digital technologies to support entrepreneurial activities, these technologies now provide unique opportunities for advancing rural entrepreneurship. Though prior research focused on challenges for IT use in rural areas that specifically investigated investment and management issues, it is important to study all challenges and opportunities involved in this developing area of research. Rural Entrepreneurship and Innovation in the Digital Era is a pivotal reference source that provides vital research on the utilization of digital technologies in rural business ventures. Unlike other references, this book studies the conceptualization process of rural entrepreneurship and innovation with the intention of providing guidelines and support for entrepreneurs. While highlighting topics such as microfinancing, risk management, and rural development, this publication explores innovative practices as well as the methods of IT investment and management. This book is ideally designed for business professionals, entrepreneurs, business researchers, academics, and business students.

Seminar paper from the year 2018 in the subject Politics - Topic: Globalization, Political Economics, grade: 1,0, Leuphana Universität Lüneburg, language: English, abstract: The main question that is supposed to be answered in this paper is: does Africa need Industrial policy for (sustainable) economic development? How are these policies supposed to look like and what are the preconditions to achieve them? To be able to find solutions for these interrelated questions, they have to be embedded in a broader context. First, a short introduction into the history of Africa’s economic development, with regard to (de)industrialization, is being given. To understand why industrial policy might be of importance, one also has to look into the relationship between structural transformation and the chances of economic growth. This paper is aiming to give an overview about the reasons why Africa (mostly Sub-Saharan Africa) has missed industrialization, how structural transformation can lead to (sustainable) economic development and growth and which chances and challenges African countries face as late-industrializers in a world with high levels of globalization. The first part is meant to give a short introduction into the economic development and (de-)industrialization of modern post-colonial Africa. This is important as the current economic situation can only be fully understood by looking at what has happened in the past. The second part is giving theoretical input about structural transformation and the role of industrial policies – discussing its scientific background of pros and cons.

Research Paper (undergraduate) from the year 2022 in the subject Business economics - Business Management, Corporate Governance, grade: A, , language: English, abstract: The major objective of the study was to assess challenges and opportunities for rural entrepreneurship development based on empirical evidence from "Gelgela" Dairy and "Yichalal" Poultry Production Enterprises located in Bosa Qacha Kebele of Sodo Zuriya Wereda of Wolaita Zone. This study investigated the challenges and opportunities for rural entrepreneurship development in Ethiopia taking the case "Gelgela" Dairy and "Yichalal" Poultry Production Enterprises located in Bosa Qacha Kebele of Sodo Zuriya Wereda of Wolaita Zone in SNNPRS. Regardless of the fact that some of the challenges and opportunities were shared in common with enterprises engaged in similar ventures, it would be difficult to infer the results to the other enterprises within another Weredas of the same Zone since rural locations differ in many aspects. Consequently, findings cannot be generalized to broader rural locations in SNNPRS and the whole country.

Entrepreneurs who start out with no network, no money, no market and scarce resources find a big contrast between what they read in books and the success stories from the Valley and their reality, specially first-timers. Most entrepreneurial books focus on the Business Canvas Model, simplifying the process of building a start-up. Many entrepreneurs who have no previous business experience embrace quick and lean methods without the foundations needed to build solid value proposals. This book stands out because it deals with entrepreneurship in environments far removed from large cities with fewer infrastructures, connections and resources but which also need companies that provide services to citizens and society. This book focuses on the basics, treating each part of the business canvas as a discipline itself that must be mastered. The book illustrates key lessons learned and offers guidance on essential topics for new venture success in mainstream markets. It expands critical lessons learned and points of guidance across several key topics for new venture creation. Noteworthy is the role of context, financial understanding, building business development skills and start-up communications. Entrepreneurship for Rural Start-ups will be of interest to students, academics and researchers in the field of entrepreneurship, and will be of use to individuals looking to start a local business to take advantage of the rural environment and the possibilities it offers.

This text bridges gaps in the literature by offering an edited collection of contemporary research contributions that explore the complex nature of rural enterprise across a range of settings and geographical contexts. In particular, this book includes up to date policy contributions, as well as valuable insights into rural enterprise in practice.

In Lost Landscapes and Failed Economies, economist Thomas Michael Power argues that the quality of the natural landscape is an essential part of a community's permanent economic base and should not be sacrificed in short-term efforts to maintain employment levels in industries that are ultimately not sustainable. He provides numerous case studies of the ranching, mining, and timber industries in a critical analysis of the role played by extractive industry in our communities. He also looks at areas where environmental protection measures have been enacted and examines the impact of protected landscapes on local economies. Power exposes the fundamental flaws in the widely accepted view of the local economy built around the extractive model, a model that overemphasizes the importance of extractive industries and assumes that people don't care where they live and that businesses don't care about the available labor supply. By revealing the inadequacies of the extractive model, he lays to rest the fear that environmental protection will cause an imminent collapse of the community, and puts economic tools in the hands of those working to protect their communities.