7. challenges of entrepreneurship in india

INDIA SPECIFIC ENTREPRENEURSHIP CHALLENGES ARE
Family Challenges: Convincing to opt for business over job is easy is not an easy task for an
individual. The first thing compared is – Will you make more money in business of your
choice or as a successor of family business. This is where it becomes almost impossible to
convince that you can generate more cash with your passion than doing what your Dad is
doing.
Social Challenges: Family challenges are always at the top because that is what matter the
most but at times social challenges also are very important. Let us say you and your friend
graduated at the same time. You opted for entrepreneurship and your friend opted for a
job. He now has a flat, car and what not because he could easily get those with a bank loan
but you still have nothing to show off and this is where challenge comes.
Technological Challenges: Indian education system lags too much from the Job industry as
a whole but then it lags even more when it comes to online entrepreneurship. What
technology would be ideal and how to use that technology effectively?
Financial Challenges: (Difficulty in borrowing fund): Financial challenges are a lot different
in India especially for online entrepreneurs. When you are starting out as an entrepreneur
you don't opt for venture funding but try to go with funding from small to medium business
people. Many such non technical business people don't understand the online business
models as a whole and so getting an initial business funding from them becomes
challenging. The other option you can think of is loan but bank loan is not at all an option in
India for new online entrepreneurs.

Policy Challenges: Now and then there is lot of changes in the policies with change in the
government. Problems of TRIPS and TRIMS.
Problems of raising equity capital
Problems of availing raw-materials.
Problems of obsolescence of indigenous technology
Increased pollutions Ecological imbalanced.
Exploitation of small and poor countries, etc.
Problems of raising equity capital
Difficulty in borrowing fund.
T thought-cut completions endangered existence of small companies.
Problems of availing raw-materials.
Problems of obsolescence of indigenous technology
Increased pollutions Ecological imbalanced.
Problems of TRIPS and TRIMS.
Exploitation of small and poor countries, etc.
Challenges For Rural Entrepreneurs
•Growth of Mall Culture
•Poor Assistance
•Power Failure
•Capacity Utilization
•Infrastructure Sickness
•Lack of Technical know how.

As far as development of entrepreneurship is concerned, the factors responsible
for its slow growth are :
(i) Incompetence and poor management.
(ii) Low level of commitment.
(iii) Restrictions imposed by custom and tradition.
(iv) Involvement of high risk.
(v) Socio-cultural rigidities.
(vi) Lack of motivation.
(vii) Lack of infrastructural facilities.
(viii) Lack of communication network.
(ix) Absence of entrepreneurial aptitude.
(x) Low status of businessmen.
(xi) Market imperfections.
(xii) Legal formalities involved to set up a unit.
(xiii) Low quantity products.
(xiv) Low package of salaries to employees.

.
Improved risk taking ability.
Governments of nations withdrawn some restrictions
Technology and inventions spread into the world.
Encouragement to innovations and inventions.
Promotion of healthy completions among nations
Consideration increase in government assistance for international trade.
Establishment of other national and international institutes to support business
among nations of the world.
Benefits of specialization.
Social and cultural development
Opportunities

7. challenges of entrepreneurship in india

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