Challenges Faced By Entrepreneurs
ISSN: 2347-3215 Volume 1 Number 3 (2013) pp. 71-78 www.ijcrar.com Challenges faced by new entrepreneurs
R.S.Kanchana*, J.V.Divya and A.Ansalna Beegom
Kanchana.R.S, Kanchana Bhavan, Mithirmala.P.O, (695610) Mithirmala, Trivandrum
Kerala, India
*Corresponding author
KEYWORDS
Entrepreneur;
Challenges;
motivation; skill; adventurism.
A B S T R A C T
An entrepreneur is one who plays significant role in the economic development of a country. Basically an entrepreneur can be regarded as a person who has the initiative, skill and motivation to set up a business or an enterprise of his own and who always looks for high achievement. He is a catalyst of social change and works for the common good. He looks for opportunities, identifies them and seizes them mainly for economic gains. An entrepreneur is a person who is able to express and execute the urge, skill; motivation and innovative ability to establish a business or industry of his own either alone or in collaboration with his friends. His motive is to earn profit through the production or distribution of socially beneficial goods or services. He is enriched with the inborn qualities of adventurism, willingness to face risks, innovative urge and creativity and is eager to make dynamic changes in the production process, introduce innovations and to find out new uses for raw materials. But now there is so many challenges faced by new entrepreneurs i.e., lack of patience in solving problems, lack of sustained motivation, Inability to dream and use subconscious etc. In addition to this the other challenges includes; developing vision and ideas, raising capital, assembling a team, finding the right location, finding the right employees, finding good customers, overcoming competition, unforeseen challenges and expenses, keeping up with industrial changes and trends and exiting the business. Introduction
Giant freshwater prawn (Macrobrachium
An entrepreneur is an economic leader who possesses the ability to recognize
R.S.Kanchana*, J.V.Divya and A.Ansalna Beegom
Kanchana.R.S, Kanchana Bhavan, Mithirmala.P.O, (695610) Mithirmala, Trivandrum
Kerala, India
*Corresponding author
KEYWORDS
Entrepreneur;
Challenges;
motivation; skill; adventurism.
A B S T R A C T
An entrepreneur is one who plays significant role in the economic development of a country. Basically an entrepreneur can be regarded as a person who has the initiative, skill and motivation to set up a business or an enterprise of his own and who always looks for high achievement. He is a catalyst of social change and works for the common good. He looks for opportunities, identifies them and seizes them mainly for economic gains. An entrepreneur is a person who is able to express and execute the urge, skill; motivation and innovative ability to establish a business or industry of his own either alone or in collaboration with his friends. His motive is to earn profit through the production or distribution of socially beneficial goods or services. He is enriched with the inborn qualities of adventurism, willingness to face risks, innovative urge and creativity and is eager to make dynamic changes in the production process, introduce innovations and to find out new uses for raw materials. But now there is so many challenges faced by new entrepreneurs i.e., lack of patience in solving problems, lack of sustained motivation, Inability to dream and use subconscious etc. In addition to this the other challenges includes; developing vision and ideas, raising capital, assembling a team, finding the right location, finding the right employees, finding good customers, overcoming competition, unforeseen challenges and expenses, keeping up with industrial changes and trends and exiting the business. Introduction
Giant freshwater prawn (Macrobrachium
An entrepreneur is an economic leader who possesses the ability to recognize
References: Drucker, P., 1985. Innovation and Entrepreneurship: Padmanand, V., and Patel, V.G. 2004. Vesper, K., 1982. Encyclopaedia of Entrepreneurship, Prentice Hall.