Challenges Encountered By Entrepreneurs Essay

ISSN: 2347-3215 Volume 1 Quantity 3 (2013) pp. 71-78


Problems faced simply by new business people

R. S i9000. Kanchana*, T. V. Divya and A. Ansalna Beegom

Kanchana. 3rd there’s r. S, Kanchana Bhavan, Mithirmala. P. Um, (695610) Mithirmala, Trivandrum Kerala, India

*Corresponding author








A business owner is person who plays significant role in the economic progress a country. Basically an entrepreneur could be regarded as an individual who has the motivation, skill and motivation to build a business or an business of his own and who constantly looks for high achievement. He's a catalyst of interpersonal change and works to get the common very good. He searches for opportunities, identifies them and seizes them mainly for financial gains. A business person is a individual who is able to share and do the urge, skill; motivation and innovative capacity to establish a organization or sector of his own either alone or in cooperation with his friends. His purpose is to make profit through the production or perhaps distribution of socially helpful goods or services. He is enriched with all the inborn characteristics of adventurism, willingness to handle risks, ground breaking urge and creativity and it is eager to generate dynamic changes in the production procedure, introduce innovations and to find out new uses for raw materials. But now there is a lot of challenges encountered by fresh entrepreneurs i actually. e., insufficient patience in solving problems, lack of suffered motivation, Lack of ability to wish and employ subconscious and so forth In addition to this the other problems includes; growing vision and ideas, raising capital, assembling a crew, finding the right position, finding the right personnel, finding very good customers, defeating competition, unexpected challenges and expenses, keeping up with industrial alterations and styles and getting out the business.


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An entrepreneur is an economic innovator who

possesses the ability to acknowledge


pertaining to



introduction of the new product, fresh sources

of supply, new technique of production etc


whom assembled the necessary

resources and organizes all of them into a heading


matter. An entrepreneur is a person who

discovers and assess a new situation in

his environment and directs the making of

such modifications in the economic system as

this individual deems required. He often searches

for change, responds to this and uses it because

an opportunity. Creativity is the certain

tool of entrepreneurs, the means by which in turn

they exploit change since an opportunity for the

different business or assistance.

An entrepreneur is definitely one who sets up,

operates and assumes the risk of a business

venture. The strength of the problem to

promote an entrepreneurship culture too

as to progress new enterprises in a

eco friendly and competitive fashion differs

between countries. Starting a business and

becoming an entrepreneur is usually exciting


is also terrifying. While beginning a new

organization entrepreneurs confront so many

problems; such as instability, stress,

negative mindset, frustrating feelings,

lack of support, thoughts of planning to give

up, growing a business, problems of raw

materials, problems relating to marketing,

out-of-date technology, not enough infrastructural

features, lack of qualified labors etc . In order

to conduct an efficient business a great





challenges. The primary objectives with the

study in order to identify the challenges faced

by the fresh entrepreneurs and analyze the

measures to overcome these people.

particular with regard to access to financing.

All business people will sooner or later feel





obligations that show up on their shoulders.

The common difficulties faced simply by

entrepreneurs happen to be Overestimating Success,

Misplaced Purpose,. Negative Attitude,

Poor Corporation,. Jack of All Trades,

Staff Motivation, Lack of Support.

The earth Bank report...

References: Drucker, P., 1985. Innovation and


Padmanand, V., and Patel, Sixth is v. G. 2004.

Vesper, E., 1982. Encyclopaedia of

Entrepreneurship, Prentice Area.