Business venture

Visakhapatnam: Entrepreneurial skills are key to the success of any business venture, says AU Rector

“Socially disadvantaged young people need to equip themselves with these skills and seize the opportunities”

“Socially disadvantaged young people need to equip themselves with these skills and seize the opportunities”

The Center for the Study of Social Exclusion and Inclusive Politics (CSSEIP) at Andhra University on Monday organized a lecture session on “Entrepreneurial Skills Among Socially Disadvantaged Youth in India”.

At the inaugural lecture, AU Rector Samatha said that entrepreneurial skills are critical to the success of any business and that socially disadvantaged youth need to equip themselves with these skills and seize the opportunities. She said socially disadvantaged young people have more problems, such as unemployment, lack of appropriate skills and education, live in extremely complex environments and have significant gaps in financial and human capital.

She observed that there is an element of risk associated with entrepreneurship, but young people need to take advantage of government programs and obtain financing from institutional lenders by exploring profitability and choosing the right businesses.

P. Subba Rao, Director of CSSEIP, said there was a need to foster entrepreneurship among socially disadvantaged youth, which would also contribute to national development. He said that there are several opportunities to undertake businesses for young people. He also explained how small entrepreneurs have been affected by the COVID-19 pandemic.

A. Chandra Mohan, Head of Department of Management and Dean of School of Commerce and Business Management, Central University of Tamil Nadu, said that entrepreneurship should be seen as a way to encourage young people and that their talents and skills needed to be explored to cash in on their business acumen.

He stressed the importance of communication skills, leadership skills and motivation.

P. Rajendra Karmakar, Head of College of Arts and Commerce, Andhra University spoke.