Daniel Kahneman, the Nobel Prize winner for Economics in 2002, suggests that happiness is a subjective issue but it is measurable through quantitative instruments.Īlso read: Reliance Jio launches JioBusiness suite of tech solutions to ‘digitally transform’ 50 million MSMEs To upsurge the happiness in a society, one needs to recognize the factors influencing their happiness levels. People invariably look for “Happiness” when they judge the overall quality of their life. For many researchers, happiness has come out as a key outcome of entrepreneurship. Studies also confirm that women entrepreneurs are very innovative which plays a major role in their success. Studies show that women entrepreneurs can very well run and grow their businesses using a well-structured approach. For these rural women, entrepreneurship is not only boosting their economic status but also transforming and empowering them. Rural entrepreneurship has produced new economic opportunities for women in the rural areas of the country. Rural entrepreneurship can be stipulated as “Entrepreneurship emerging at village level in multiple fields of an endeavor like business, industry, agriculture and can work as a potent factor for economic development”. Rural entrepreneurship corresponds to the establishment of business units in rural or remote areas. Another initiative called Start-Up Village Entrepreneurship Program was launched by the Finance Minister in 2014-15 where the rural people can start their own enterprises and can upsurge the living standard as well as their purchasing power. Prime Minister Narendra Modi announced various programs like Make in India and Standup India to make Bharat Atma Nirbhar.
The government has attempted to facilitate rural entrepreneurship and skill development. The answer to this rising need for employment lies in creating micro-enterprises that address the local needs as well as use the local resources to enhance economic development.
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