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Entrepreneurship
 

UEF considers entrepreneurship an integral part of the community’s development. Entrepreneurship is encouraged as are those who wish to become entrepreneurs. Consecutively, UEF provides entrepreneurship training and helps budding entrepreneurs with the provision of a mentor who guides and supports.

Entrepreneurs with potential are identified by an expert panel through a screening process. Identified entrepreneurs are provided with technical advice and are provided help to shape up their business plan.

UEF supports young entrepreneurs by facilitating Sharia compliant finance, loans and micro finance from TN Minority Funds grant and statutory clearance. Entrepreneurs are encouraged to set up Industries at Industrial Parks located at Gangaikondan, Nanguneri, Pearl City, Trichi etc, for which UEF provide support.

Project Division / Entrepreneurship Development
 

UEF seeks to act as a Catalyst for enhancement of socio-economic status of Backward Community through entrepreneurship development, channelling government grants and subsidy and prepare project reports for enabling to avail financial assistance from banks and financial institutions.

In order to encourage entrepreneurship among Backward Community, a Project Department has also been established to guide and support the budding entrepreneurs and existing entrepreneurs proposing to expand and diversify their activities. The project department appraise the project proposals submitted to UEF for assessing the technical feasibility and economic viability and also assist in preparation of Project Reports so as to approach banks/financial institution for term loan assistance, venture capital funds, seed capital, and Government departments to avail Subsidy grants and Fiscal Incentives for the projects. We also select and appoint suitable mentors to the new projects set up by budding entrepreneurs so as to guide them in implementation and operation of the projects.

In order to facilitate financial assistance for new entrepreneurs as well as for existing entrepreneur we have entered into memorandum of understanding (MOU) with Indian Overseas Bank for sanction of term loan and working capital assistance. As per the said MOU the industrial projects appraised by United Economic Forum and found to be technically feasible and financially viable and recommended for financial assistance, IOB would consider our request favourably.

UEF have also entered into MOU with GK Industrial Park Ltd., which has developed an Industrial Park at Trichy for allotment of plots to entrepreneurs referred and recommended by UEF on priority basis and also at concessional rates for larger plots.

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Tamil Nadu, India.

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