Scripting an entrepreneurial success story in Assam

Governments creating jobs for the smooth running of administration is a necessity, but it cannot surpass the requirement. Providing government jobs as the panacea for the unemployment problem is a preposterous idea pushed by political parties only to woo the unemployed voters in India. Industrialisation, agricultural growth, and entrepreneurship provide the largest employment. Yet, the issue of government employment dominating electoral discourses is a hard reality that the country needs to leave behind at the earliest opportunity. Launching of the second edition of the Chief Minister’s Atmanirbhar Asom Abhijan launched by the Assam Government is a step in the right direction as it is aimed at creating one lakh entrepreneurs who will eventually become job-givers. Entrepreneurial success stories are galore in the state, which has laid a solid foundation for igniting entrepreneurial dreams in more youth. Over 11 lakh candidates appearing for about 13,000 grade-III vacancies in the state is a wake-up call to seriously reflect on the unemployment problem and look for solutions elsewhere, creating entrepreneurs being one of them. While training, financial assistance, and marketing support help the new entrepreneurs to get a foothold, the sustainability of entrepreneurial ventures lies in the originality and innovation of the entrepreneurial idea and venture. Key objectives of the mission include providing self-employment to all categories of educated youth through suitable mechanisms, creating an entrepreneur-orientated ecosystem in the state of Assam, generating employment opportunities in rural and urban areas through the setting up of new and existing ventures, and providing financial assistance to enterprising individuals and groups to undertake new or existing economic activities. The eligibility criteria mention that the applicant should possess skills, experiences, and knowledge to undertake the income-generating activities. However, the list of documents required does not include any proof of receiving entrepreneurship or skill training or experiences to undertake income-generating activities. Screening of applications addressing this issue will be crucial to ensure that providing grants for supporting entrepreneurial ventures is not reduced to a mere grant distribution scheme with no prior assessment of the sustainability of entrepreneurial initiatives. The scheme provides for the release of Rs 75,000 as an initial grant and the release of a second instalment of Rs 25,000 after completion of three-day training and releasing the remaining amount of Rs 1 lakh after the government is satisfied that initial funds were utilised wisely for building self-reliance and creating an entrepreneurial venture. Aligning the mission with a skill development programme can be beneficial, as the availability of trained human resources is a cornerstone of any entrepreneurial initiative. Initial assistance of Rs 1 lakh must not be seen as an amount sufficient only to initiate a small self-employment initiative like opening a retail store or a tailoring unit, which too creates employment opportunities. However, marketing challenges brought to retail stores by online marketing of similar goods and services at much cheaper prices have posed sustainability challenges to small businesses and retailers. Rapid spread of digital technology and availability of gig workers have made it possible for the online marketing companies to deliver goods even in rural areas. The traditional concept of self-reliance through small and micro enterprises, therefore, has drastically changed. However, an organic entrepreneurial idea can become successful even when started with a small token sum and not only bring self-reliance to the entrepreneur but also generate employment for 10-12 persons in each unit. This, however, requires the entrepreneur to have the ability to identify the gaps in the existing production and marketing ecosystem and come up with an innovative idea of filling the gap. It can be a product or a service, but commercial viability will be a key determinant for its success. This is where the training programme plays the crucial role. More than the duration of the training programme, the training sessions are motivating for the participants to take a closer look at the surrounding world, learning to relook at the agriculture production ecosystem, natural resources within their villages and nearby that can feed an industry in a sustainable manner, the marketing ecosystem, and learning to assess its strengths and weaknesses to offer competition to new and emerging markets like online markets. Financial literacy is another knowledge critical for entrepreneurial success. The rapid spread of the digital payment ecosystem has made financial transactions much easier than before. Digital technology has also unlocked a floodgate of marketing opportunities. Translating the entrepreneurial idea into a comprehensive written project proposal is a key hurdle for most new entrepreneurs, and this is where the training programme must be tailored to meet this requirement. Improvement in the credit-deposit ratio in the state is also reflective of banking institutions prioritising credit disbursements to viable projects. The Atmanirbhar Asom Abhijan has the potential to script a new entrepreneurial success story for the state. This can be possible only if each of the one lakh grantees is able to visualise a new Assam in which they will not only become self-reliant but will also generate at least four to five lakh jobs.