A Practical Insight into Entrepreneurship and Self Employment with Reference to Maharashtra State

<p><strong><em><span>Abstract</span></em></strong></p> <p><em><span>More focus is required on entrepreneurship rather than job. Entrepreneur has to decide land, water, space required, no. of workers male or female, machines required for the production, technical knowledge of product and relevant evaluation. Various legal and documentary formalities are required to be completed in respect of the same which include Land- which is generally available in MIDC, Preparation of Project Report,Udyam Registration,Permission from Maharashtra Polution Control Board, Consent to establish a Unit, Consent to commence operation, Permission from Town Planning Department, Approval of Factory Building Plan, Factory Building Completion Certificate, GST Registration, Application for Electricity and Water Supply to Regulatory Authority, Certifcation from Regulatory Authority for e.g. if a unit is relating to the production of food items, permission from Food and Safety Authority of India Mode of operands of the business. <span>MCED has regional offices at district levels and provides training and certification to the aspiring entrepreneurs and assist in gaiting loans and finance. </span></span></em></p> <p><em><span>Various kinds of business formats are available such as sole proprietary firm, partnership firm, LLP, co-operative society, charitable trust Private limited company, Limited Company. Various kinds of sources of loan funds are available for businessmen such as Prime Minister’s Employment Genration Programme, Mukhyamantri Rojgar Nirmiti Yojana, PM Vishwakarma Yojna, Mahila Samrudhi Yojana etc.</span></em></p>