Bizmen getting better bet in MP, says study

Indore: Around 47 per cent of people in the state feel that the environment for entrepreneurs to start their businesses has improved, but moderately. A recent survey carried out to assess the atmosphere for entrepreneurship revealed that 55 per cent respondents feel that the state government needs to do more to promote aspiring entrepreneurs.
Unveiling the report, Union minister of state for skill development and entrepreneurship (independent charge), Rajiv Pratap Rudy, said, "The contribution of MSME sector (micro, small and medium enterprises) in India is much less as compared to some of the developed nations.This needs to change. It is critical that there is entrepreneurship led boom at the grass-root level so that India can leverage demographic dividend to the maximum possible extent.
Policymakers can play a significant role in building up the entrepreneurship environment."
Interestingly, nearly 50 per cent of respondents in the state are not aware about the government schemes to promote entrepreneurship. Around 63 per cent respondents cited 'fear of failure' as the biggest obstacle in starting one's own business. Access to finance (41 per cent) and family support (35 per cent) emerged as the most important factors to start one's own business. Speaking to TOI, Pratap Nair, former chairman, Indore Entrepreneur Network (IEN) said, "Slowly and steadily things are changing and an environment is being created in the state.
Certainly we cannot compare ourselves with Bengaluru or any other metro, but the scenario is improving," he said.
The survey was conducted by Amway on India Entrepreneurship Report 2015. Research partner Nielsen India surveyed 250 households in each of the 21 states across 50 different cities.