Entrepreneurship 101 focuses on a basic understanding of business, financial management, exposure to local entrepreneurs and enterprises, and basic digital literacy.
All community members choosing to participate with the UMBC in any way are targeted with this basic training. The aim is to create of a local force that is empowered to identify and seek local job opportunities.
Entrepreneurship development is designed to support community members who are existing entrepreneurs, or exiting a UMBC skill-training program. This program provides business counseling, access to local business networks, information on market segments, access to financial assistance, and access to physical infrastructure at the UMBC itself, in exchange for a token fee.
While the Urban MBC recognises that sustained viability of micro-enterprises is a serious challenge, particularly in eastern India, it also believes that generating enthusiasm around starting a business is important. Therefore the Business Launch Training Programs develop core and critical enterprise skills in those who are traditionally discouraged from going into business, i.e. women/female youth. This aims to build the community’s capacity to participate in and benefit from ongoing entrepreneurship development activities.
Community members who join any of UMBC’s in-house enterprises in some capacity will also receive this training ‘on the job.’ Their professional and entrepreneurial development shall proceed via increased participation in ‘management’ meetings, and various forms of equity or profit sharing.
The UMBC team supports aspiring and existing micro entrepreneurs, and women in general, who need to open bank accounts, and establish a credit history to avail from business loans over the course of their enterprises.