Role of Financial Institutions in Promoting Entrepreneurship

The word “entrepreneur” has been taken from the French language where it cradled and originally meant to designate an organizer of musical or other entertainments. The Financial Institutions also has been contributing its share and have launched a number of schemes of assistance to the favour of small scale enterprises and entrepreneurs. The movement of entrepreneurship promotion and development in the past few decades has gone a long way in North East India, particularly in the State of Uttarakhand. Both governments and various industrial promotion and support institutions are making considerable efforts to facilitate the process of emergence of new entrepreneurs for setting up enterprises in small scale sector. These efforts involved making attractive schemes for availability of finance and various other assistances including technical know how, training, sales, purchases etc.