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How can PMKVY help to start your own business?

The country’s future largely depends on the youth – which is why it is important to empower them with the right means. For those who want to make their own means in life, customer-friendly business loan eligibility criteria have enabled several young entrepreneurs to achieve their dreams. However, there remains a gap in skill development taught in classrooms and expected in the industry. This brings hardships to new entrepreneurs. However, government schemes like the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) can help.


What is the Pradhan Mantri Kaushal Vikas Yojana?

PMKVY is a government-sponsored scheme of the Ministry of Skill Development and Entrepreneurship (MSDE) that aims to empower and equip the country’s youth with industry-specific skills and know-how. This can help professionals build successful businesses and excel in life with greater ease.

What are the benefits of Pradhan Mantri Kaushal Vikas Yojana for businesspersons?

Starting a business can be tough. While a good business loan interest rate can help you take care of the financial aspect, building your business on the right skills can help sustain it for a long time.

This is how the scheme can help you establish your business:

  1. It offers short-term training: PMKVY has set up various training centers to impart short term training to aspiring entrepreneurs. These training programs teach entrepreneurial skills, such as communication skills, financial literacy, personality development, grooming, and more. These short-term training can have positive long-term impacts and offer candidates the confidence to start their own entrepreneurial journey.
  2. It offers special projects: This scheme component offers specialized training for roles that are not covered in the short-term training programs. Special projects provide training in specialized areas or premises of government bodies and corporate offices.
  3. It conducts Rozgar Melas: PMKVY conducts a Rozgar Mela or placement drive every six months. This event is covered by the press and helps trainees find relevant work opportunities with employers of their chosen fields. This is a great chance for aspiring entrepreneurs to find work and gain relevant experience to start their own businesses ultimately.

To sum it up

PMKVY is a great scheme that can help the country’s youth gain the right skill sets needed in today’s world. Thanks to advancements in technology, industries are changing at a fast pace. When students leave their schools or colleges, they find themselves grossly unprepared for the demands of the real world. But schemes like PMKVY can help young professionals brush up their skills, acquire confidence, and be successful in life.

Make sure to use this scheme to your advantage. Moreover, after you have attained the necessary skills and are ready to start a company, you can apply for a business loan with a reputed lender to turn your dream into a reality in just a few easy steps.

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