Assessing The Impact Of Education In Development Of Entrepreneurial Skills And Intentions

Abstract

Education provides entrepreneurs with understanding of business with regard to finance, marketing, accounting, and management. These are essential for making informed decisions, evolving business plans, and navigating the complexities of starting entrepreneurial activities. Through education, entrepreneurs can gain understanding of target market, industry trends, and competitors, which can help them identify opportunities and mitigate risks Enterprises, irrespective of size, have been playing a predominant role in the economic development of the country. They are considered as growth engine growth engine that triggers developmental process. Besides solving the problems of unemployment and poverty, it helps to generate additional family incomes. It helps them to acquire entrepreneurial ability and at the same time obtain economic independence. Though some progress in industrial development was experienced and the micro and small enterprises are gradually gaining momentum especially those service industries in Mizoram, the growth of industry and industrial development in the state is relatively slow due to its topographical and geographical disadvantages. Infrastructure backwardness of the state played a significant role towards hindering industrial development. The state has no large industries worth mentioning and as such micro and small enterprises play a prominent role in the economic development. The existing forest and natural resources can be utilised more efficiently by strengthening the micro enterprises in the state thereby creating employment opportunities. In this article, we will explore the importance of education in entrepreneurship and how it can help individuals succeed in the business world with reference to Aizawl district, Mizoram.