A Study on Entrepreneurship Development of Micro, Small and Medium Enterprises with Special Reference to State of Andhra Pradesh

Abstract

The micro, small and medium enterprises growth index is the real indicator for entrepreneurship development of any country. MSMEs are more labour-intensive and capital saving compared to the large firms. They are better suited to the factors of production in the labour-abandoned economy like India. MSMEs play a strategic role in the progress of the country. These industries by and large represent a stage in economic tradition from traditional to modern technology. The transitional nature of this process is reflected in the diversity of these countries. MSMEs use simple skills and machinery while many others use modern and sophisticated technology. The MSMEs have a significant role in production and distribution. Creating employment opportunities to people in their local environment by harnessing both the natural and human resources for development and thereby improving the standard of living on one hand and enriching the cultural heritage on the other, are the key notes accorded to the enterprises. The MSMEs have the advantages of generating gainful employment with low investment, diversifying the industrial base, reducing regional disparities through dispersal of industries into rural, semi urban and backward areas. Industrialization is recognized as one of the development strategies all over the world. In Andhra Pradesh, the earlier development planning keep’s its stress on the development of large scale industry, failed to solve the problems like balanced regional development, gainful employment to millions of unemployed and equitable distribution of benefits of industrialization in between the three regions. The guiding principle of the socialistic pattern of society dictates that the MSMEs should be recognized as the means to achieve equitable growth. This study is testing the Biopsy of regional imbalances of MSMEs in Andhra Pradesh.

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