Skill Development Institute Can Be A Lucrative Business Opportunity

India’s transition to a knowledge-based economy requires a new generation of educated and skilled people. The Government of India has invested an amount of INR 17,000 Crore for skill development training. Currently, Investing in skill development industry can be a profitable idea.

Below are the reasons which are making Skill development training a big business opportunity.

Job opportunities

No doubt possessing a specialised skill set provides increased employment opportunities. Nowadays many industries require base level qualification even at the entry level. Skill development has become a prerequisite to stand out from the crowd, and meet the demands of the current highly-competitive job market and as a result, your employment opportunities become wider.

Personal growth

Learning a new skill will empower one as an individual; at the same time broaden the opportunities. Apart from developing skills in a particular area, it also trains an individual to build and enhance communication skill, time management and networking. Besides technical skills, employers keenly look for a distinct set of skills in their potential employees. Possessing strong soft skills puts them a step ahead in the competition and makes them a true professional.

Fewer dropouts

There’s a serious problem of unemployment and underemployment in India. There are many causes for this, some of which include —dropping out of high school, lack of quality education, and, most importantly, not possessing the basic skills required by employers today. It would benefit students if they are encouraged to join these programmes. It gives them clarity about their means of livelihood, much-needed confidence and a direct career boost.

Nurturing talents

Talent is innate, but skills are acquired. Skill training focuses on identifying, training and nurturing talent, in any desired field. The social emphasis on scholastic achievement leaves little room for appreciating the diversity of talent that could make a qualitative difference to the potential of the skilled workforce. This is even more relevant in the case of artisans and craftsmen who continue their legacy, irrespective of their individual talent and capabilities.

Skilled workforce

To encourage enterprise and boost employment creation, skilling programmes are coming up with specialised courses on entrepreneurship in different sectors. Instead of training students to work under someone, these programmes focus on leadership and innovation. Only a confident and competent workforce can drive the economy successfully and meet the international standards of quality performance.

Increased career development opportunities

Developing a career in a chosen field is something many of us aspire to. Experience alone, in many cases, does not suffice when employers are seeking to promote their staff. By undertaking further training, the opportunity to develop your career is enhanced.