The Small scale sector constitutes a critical part of the Indian economy. Its contribution to the national GDP, to creation of employment opportunities, especially for low/ semi-skilled workers and producing low cost goods and services, are crucial for a developing economy like India. By identifying and making use of small niches and opportunities for independent work the sector also helps in reducing regional imbalances. Hence, the small scale sector remains high on the agenda of government, academics and policy makers. Globalization and resultant socio-cultural and economic changes have created enormous opportunities for small scale industries. rnEntrepreneurship in recent times has become an important area of study. It is considered to be a solution for creating wealth, generating employment and providing new and better goods and services. Developing the spirit of entrepreneurship among the young has become vital because the government cannot provide jobs for all kinds of unemployed youth and the corporate sector will provide limited jobs only to the best and that too without any job security.