Strategic Factors of Agro-Based Entrepreneurship for Rural Economic Development in Senapati District, Manipur, India

Abstract

Agro-based entrepreneurship development in rural areas has immense opportunities and empowers rural economic development. However, rural enterprise development remains very inefficient and is hindered by several challenges and difficulties relating to economic, social, political, and geographical factors. Thus, the paper is framed to explore the various entrepreneurial factors or motives associated with entrepreneurship development among agro-based entrepreneurs in the Senapati district of Manipur.  The total population was 79 enterprises, out of which a sample of 50 units was selected for the study through a purposive homogeneous sampling technique. A Descriptive Statistical tool is used for comprehending the data. The study adopts a factor analysis method to elucidate the data, using the Cronbach Alpha test, the Kaiser-Meyer-Olkin (KMO), and the Bartlett test of sphericity through STATA software.  The study revealed that the entrepreneurial factor or motive of entrepreneurs in the Senapati district is highly inclined towards the ten factors that have a high perception. This factor includes nearness to home place, own ideas, nearness to market, good transport facilities, economic necessity, nearness to raw material, to contribute to the community's welfare, to secure employment, unemployment factors, and desire to improve quality of life. Moreover, it reduces to seven broader influencing factors, i.e., Economic factors, Ambition, Infrastructure factors, social factors, social environment factors, psychological factors, and Location factors, which are important for entrepreneurship development. The study findings could help policymakers promote a better entrepreneurial environment for entrepreneurs in the Senapati district of Manipur, India.