Entrepreneurial Barriers and Challenges

Prepared by :

Neeraj Bhandari

Avishake Budhathoki

INTRODUCTION TO ENTREPRENEURHIP

ENTREPRENEUR(PERSON)

ENTERPRISE(OBJECT)

ENTREPRENEURSHIP(PROCESS)

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INTRODUCTION TO ENTREPRENEURHIP

• It is the process by which an individual pursue opportunities without regard to resources they currently control

• Entrepreneurship is the willingness to take risks and develop, Organize and manage a business venture in a competitive global marketplace that is constantly evolving.

• In simple , Entrepreneurship is the process of creating something new and assuming the risks and rewards.

According to Foss and Klein , Entrepreneurship can be defines with the help of seven approaches ;

• Entrepreneurship as Small-Business Management

• Entrepreneurship as imagination or creativity• Entrepreneurship as innovation• Entrepreneurship as Opportunities• Entrepreneurship as the ability to adjust• Entrepreneurship as Charismatic leadership• Entrepreneurship as Judgement

Barriers to Entrepreneurship

1. Environmental Barriers– Non – availability of raw materials

– Lack of skilled labor

– Lack of good machinery

– Lack of infrastructures

– Lack of fund

– Other environmental barriers

2. Personal Barriers

– Unwilling to invest money

– Lack of confidence

– Lack of motivation

– Lack of patience

– Inability to dream

3. Social Barriers– Law status

– Custom and tradition of people

Women Entrepreneur

• Women entrepreneur can be defined as the women or group of women who take initiative to set up a business enterprise and run smoothly

• According to GOI, a Women Entrepreneur is defines as , “An enterprise owned and control by a woman and having a minimum financial interest of 51% of the employment generated in the enterprise of women.”

Problems faced by Women Entrepreneurs

–Scarcity of Raw Material

–Family Ties

–Limited Mobility

–Lack of proper education

–Male-Dominated Society

Challenges for Entrepreneurs

– Financing

–Teambuilding

–Being the visionary

–Dealing with the unknown

– Loneliness

–Decision-making

–Rule-making

Competencies of an Entrepreneurs

– Leadership Qualities

– Decisive

– Risk-taking

– Confident

– Willingness

– Enterprising

– Innovative

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