Literature Review on Micro Entrepreneurship development and Quality of Life improvement

In any developing country like India, Micro, Small and Medium Enterprises (MSMEs) can be regarded as the most vibrant sector in socio-economic development in different modes. In this very context, as Micro Enterprises (MEs) require nominal capital and technical skill, perhaps lower than that of the other two enterprises of MSMEs i.e. Small and Medium, they claim special importance to the excluded sections of our society in terms of gender, literacy, wealth etc. This can promote improvement in the Quality of Life (QoL) of their participants at large where QoL includes all those factors significant for our living qualitatively. The participants in this context aim at fulfilling their keen requirements of living (push factors) and also gaining self-respect, esteem and social position (pull factors). But nevertheless, MEs have to face tremendous pressure in their operations, mainly due to paucity of need-based finance and lack of practical marketing knowledge, technical skill, standardization in production process as well as administrative proficiency of their participants. Additionally, the gender-insensitive registration process and the gender-discrimination in employment generation in the units in both administrative and operational levels may create hindrances in the participation of the women section in the very unit. This would somehow make the effort of MEs in creating QoL improvement of the community questionable. In the present paper, therefore, an attempt has been framed to enumerate the literature on the issues like (i) Problems and Prospects in Entrepreneurship, (ii) Factors responsible behind participating in Entrepreneurship, (iii) QoL and its different dimensions, (iv) Entrepreneurship development and QoL and (v) Measurement of QoL.