Overlooked potential for industrial development in rural communities
Lack of rural industrialization Uncoordinated rural economic enterprises Underuse of commercial enterprises in rural areas
Market economic activity in many communities consists only of below-subsistence farming. Possibilities for regional industries, available job opportunities or potential agricultural markets remain unexplored. Uncoordinated attempts at commercial enterprise, such as village markets and small businesses, may have only marginal success. The scant exposure to successful business enterprises and the past failure of economic ventures leaves residents hesitant to risk commercial investment. Resources and opportunities for the development of new enterprises in business and light industry are not explored and enterprises remain undeveloped. The shortage of facilities in supervisory and management development programmes is still more acute in rural areas except in countries having well-developed cooperatives. Distance and transportation costs are also a major deterrent to attracting new industries.
Industry in the developed countries is tending to move into rural areas in order to escape the problems of urban locations; but communities in these rural areas tend not to turn their attention to the work necessary to take full advantage of this resource, which could bring them added capital and employment opportunities. Often no market research or resource census is done to see how there could be a blending of small industries, nor is advantage taken of those financial advisory services which could gather the market data into accurate projections of income, expense and capitalization needs necessary for a nascent industry to be successful.
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