A STUDY ON CHALLENGES AND PROBLEMS FACED BY SMALL ENTREPRENEURS

Chapter 01

INTRODUCTION

Entrepreneurship is the practice of forming a new business or commercial enterprise, usually

in an industry or sector of the economy with a large capacity for growth. Entrepreneurship is
generally synonymous with resourcefulness, ingenuity, and the ability to take calculated risks
In order to introduce a new, untested product or service into the marketplace. These traits are
often referred to collectively as the “entrepreneurial spirit.”
Entrepreneurship is driven by the entrepreneur, a person who launches and oversees the
operations of a new business venture. The entrepreneur is generally self-employed, self-
motivated, and ambitious and is willing to take chances to meet his or her goals. Unlike the
capitalist, a businessperson who generally limits his or her role to financing commercial

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ventures, the entrepreneur is the driving force behind the formation of a new business and
asserts a great deal of control over the key management decisions. Many entrepreneurs also
assume responsibility for hiring and managing employees. Successful entrepreneurs tend to
be highly skilled at organizing and motivating their employees.

In some cases the entrepreneur invents or develops a new product or service, which then
forms the core of his or her new business. In other cases, however, the entrepreneur simply
discovers a new way to market and sell an existing product or service. The risks undertaken
by the entrepreneur are often considerable. Some entrepreneurs invest everything they own
into their new enterprise, with no guarantee that the business will succeed. Other times a
successful businessman will risk his reputation on a new idea, the failure of which could
potentially jeopardize his entire career. Because of the high level of risk involved in
entrepreneurial endeavours, the entrepreneur generally hopes to earn a high rate of return in
the venture.

According to many twentieth-century economists, entrepreneurship is an indispensable aspect

of capitalism. Capitalism is an economic system characterized by free markets (situations in
which goods and services are bought and sold, with competition determining the prices),
private or corporate ownership of the means of producing and distributing goods and
services, and minimal government regulation of business practices. In a capitalist economy
prosperity is driven by economic growth. Entrepreneurship helps promote such growth by
continually providing the economy with new ideas that ultimately lead to more efficient and
profitable business models

While qualities of entrepreneurship have undoubtedly played an important role in business

innovation since the earliest days of commerce, the concept of entrepreneurship is relatively
new. According to economic historian Fritz Red lich (1892–1978), entrepreneurship first
emerged in the sixteenth century, when German military officers regularly recruited
mercenaries for armed expeditions throughout Europe. In Relish’s view, these recruiters
exhibited many of the qualities of the modern business entrepreneur, demonstrating a
willingness to take great risks in traveling into hostile territories and embarking on dangerous
military campaigns.

History of Entrepreneurship

The evolution of the Indian entrepreneurship can be traced back to even as early as Rig-Veda

when metal handicrafts existed in society. This would bring the point home that handicrafts

entrepreneurship in India was as old as the human civilization itself, and was nurtured by the

craftsmen as a part of their duty towards the society. Before India came into contact with the

West, people were organized in a particular type of economic and social system of the village,

community. Then, the village community featured the economic scene in India. The Indian

towns were mostly religious and aloof from the general life of the country. The elaborated

caste-based diversion of workers consisted of farmers, artisans and religious priests (the

Brahmins). The majority of the artisans were treated as village servants. Such a compact

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system of village community effectively protecting village artisans from the onslaughts of

external competition was one of the important contributing factors to the absence of

localization of industry in ancient India. Evidently, organized industrial activity was

observable among the Indian artisans in a few recognizable products in the cities of Banaras,

Allahabad, Gaya, Pure, and Mirzapur which were established on their river basins. Very

possibly, this was because the rivers served as a means of transportation facilities.

The Beginnings of Entrepreneurship and Trade

Believe it or not, the first entrepreneurs can be traced back to nearly 20,000 years ago. The
first known trading between humans took place in New Guinea around 17,000 BCE, where
locals would exchange obsidian (a volcanic glass prized for its use in hunting tools) for other
needed goods – like tools, skins, and food.
This early type of entrepreneurship continued for millennia. Hunter-gatherer tribes would
trade goods from different parts of their respective regions to provide an overall benefit for
their tribe. Entrepreneurship and the Agricultural Revolution The first big shift in
entrepreneurship took place during the Agricultural Revolution, which occurred about 12,000
years ago.

You probably already know the story about the Agricultural Revolution, but here’s a brief
refresher: humans started to domesticate plants and animals. Instead of having to roam,
forage, and hunt for their food in different regions throughout the year, human populations
could remain stationary in one location and farm the land.

This was a fundamental shift in human history. Villages and towns started developing close
to fertile lands. There was no longer a need for everyone in the community to be directly
involved with food production. People didn’t need to spend all day hunting and gathering for
their own sustenance – it was more efficient to let a smaller number of farmers handle food
production while the rest of the population focused on other tasks.

By specializing in different professions, members of the community could trade valuable

goods for food. These were the earliest entrepreneurs in human civilization. Some common
areas of specialization included:

 Hunting and gathering

 Fishing
 Cooking
 Tool-making
 Shelter-building
 Clothes-making
Farmers could grow more food than they needed to support their own families. Thus, they
would sell food at the market to say, a clothes-maker. The farmer’s family no longer needed

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to make their own clothes. They could rely on the specialized services within a community to
provide for them.

Over time, these specialists became better and better at their unique areas of specialization.
Tricks of the trade would be passed down through families. The pace of innovation sped up.
As specialists became better and better at their unique roles, they brought increased benefits
for the entire community.

Towns and cities grew to include thousands of people. Dependable sources of food
encouraged people to build permanent settlements and homes. Different social institutions
arose around these permanent structures, including religious centres, courts, and
marketplaces. This provided new business opportunity for entrepreneurs to explore.

As time went on, new areas of specialization began to emerge. Early entrepreneurs would
work in areas like:

 Pottery
 Carpentry
 Wool-making
 Masonry
Standards of living continued to increase. Entrepreneurs were constantly at the forefront of
innovation. If a problem needed to be solved, these early entrepreneurs recognized that they
could profit by solving that problem.

The Expansion of Trade Routes from 2000 BCE Onward

Between the Agricultural Revolution and 2000 BCE, cities started to appear around the
world. Early areas of civilization were concentrated around rivers, particularly the Nile, the
Tigris and Euphrates, the Indus, and the Yellow and Yangtze

By 3,000 BCE, cities in Samaria (modern day Iraq) contained tens of thousands of people.
The city of Uric, found on the banks of the Euphrates, was home to 50,000 people in the
same amount of space that would have previously supported just one tribe of hunter-
gatherers.

As cities sprang up around the world, entrepreneurship took an important turn. Entrepreneurs
were still specializing in all of the areas listed above (pottery, carpentry, tool-making, etc.).
But they began to realize that profits could be made by trading between cities and cultures.

 The right international trade route could make an entrepreneur very wealthy. Some of the
popular trade routes at the time included:
 Trading salt from Africa across the Roman Empire
 Trading technologies like Chinese paper-making around the world
 Trading rice from China across Asia
 Trading coffee, lemons, and oranges from Arabia into Europe
 Trading complex ideas like the Arabic number system into Europe (this occurred in the
year 1200 thanks to an Italian trader named Leonardo Fibonacci).

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 Trading gunpowder (a combination of carbon, sulphur, and potassium nitrate) from China
to other parts of the world
Weapons trading was particularly important in these early times. Iron was discovered around
2000 BCE, and the civilizations that controlled iron were able to dominate other civilizations.
This would lead to the world’s first empires, including Alexander the Great’s Empire, the
Han Chinese Empire, the Roman Empire, and the Persian Empire.

Entrepreneurs that were able to trade military goods that created empires were justifiably
rewarded for their work. Thus, some of the most successful early entrepreneurs traded the
means of warfare around the world.

Of course, trade routes were about more than just raw resources and goods. They were also
about ideas and technologies. In this way, entrepreneurs were responsible for spreading ideas
around the world.

Entrepreneurship and the Invention of Money

One of the key developments in the history of entrepreneurship (and in human history) was
the invention of money.

Prior to the invention of money, all entrepreneurship and trade took place through the barter
system. If John wanted 5 bars of iron, then he might have to sell 1 horse to get those bars. Of
course, he would also need to find an iron merchant who needed a horse.
The limits of the barter system were known as a “coincidence of wants.” Understandably, this
vastly limited trade and entrepreneurship in early history.

Currency changed all that. Some of the earliest forms of currency were found in ancient Iraq
in the forms of silver rings and silver bars. Starting in 2000 BCE, early forms of money have
been discovered. These forms of money were called specie and changed widely throughout
the world: some cultures used seashells, for example, while others used tobacco leaves,
beads, or large round rocks.

Over time, paper money and coinage would be developed. Currency gave entrepreneurs
several important things:

 It facilitated long-distance trade

 It acted as a medium of exchange
 It provided a way for entrepreneurs to store value
Obviously, currency changed the fate of entrepreneurship forever. Starting in the medieval
period, markets became more and more popular. Larger populations required larger
marketplaces where they could purchase food, clothing, services, and other important things.

The population spurt starting around 1470 solidified the market’s connection with
entrepreneurship. Here are some of the important developments that took place in
entrepreneurship during this period:

 Banking grew to new heights and complexities as small business owners had greater
financing needs.

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 The guild system expanded, giving skilled craftsmen and other entrepreneurs a way to
organize their business together, regulate the quality of the goods produced, and develop
reputations for certain goods in towns across medieval Europe.
 Entrepreneurs were able to purchase goods from abroad, turn those goods into finished
products, and then sell those goods for a profit at a wider scale than ever before.
It wasn’t all good news for entrepreneurs during this period. Many entrepreneurs had their
inventions and innovations stifled.

Prior to the advance of merchants and explorers, many people frowned upon the
accumulation of capital. Innovation was often – perplexingly – blocked around the world.
There are even examples were visionary entrepreneurs had their inventions stifled because
they weren’t seen as beneficial for society.

Nevertheless, this period still gave rise to some of the world’s most influential technologies,
including the windmill, paper mill, mechanical clock, the map, and the printing press, among
many others.

It paved the way for future entrepreneurs to use innovation to capitalize on growing trends.

Mercantilism, Explorers, and the New World

From 1550 to 1800
The period from 1550 to 1800 gave rise to the philosophy of mercantilism. Followers of this
philosophy believed that there was only a finite amount of wealth in the world. A country’s
wealth and value was solely based on how much treasure and gold it could obtain, and how
many more exports it could sell compared to imports.
Columbus’s “discovery” of the New World in 1492 would permanently change
entrepreneurship. Mercantilist ideals combined with a vast New World to discover made
early explorers some of the wealthiest entrepreneurs.
During this period, entrepreneurs were known more as merchants and explorers than as
entrepreneurs. These individuals would raise capital, take risks, and stimulate economic
growth (much like the entrepreneurs of today). Many see this period as the beginnings of
capitalism. Some of the key advances of this period were related to the goods and materials
brought back from the new world. Silver imports from the New World, for example, fuelled
expanded trade across the Atlantic Ocean. Later on, gold would provide similar motivation.

Another key advance in entrepreneurship during this period were Luca Aioli’s accounting
advances. Aioli created standardized principles for keeping track of a firm’s accounts. These
principles would later be used by the era’s explorers and merchants.

Entrepreneurship in the 1800s Onward: Machines and Markets

Many people see the last 200 years of entrepreneurship as being fuelled by “machines and
markets”.

Capitalism became more entrenched in societies around the world. The theories of capitalism
were solidified in Adam Smith’s 1776 work An Inquiry into the Nature and Causes of the

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Wealth of Nations, where he destroyed the idea of mercantilism. Instead, he argued that self-
interested was the driving force in societies around the world.
Thus, entrepreneurs of this period were able to act in self-interest while still improving
society as a whole. Robert L. Heilbronn explains this theory in The Worldly Philosophers:
“A man who permits his self-interest to run away with him will find that competitors have
slipped in to take his trade away; if he charges too much for his wares or if he refuses to pay
as much as everybody else for his workers, he will find himself without buyers in the one case
and without employees in the other.”

Thus, the competition of the marketplace regulates self-interest and leads to a type of
entrepreneurship that fuels innovation, improves the standard of living, and increases the
wealth of nations.

The Industrial Age and Entrepreneurship

The Industrial Revolution marked yet another profound shift in the history of
entrepreneurship. Starting in the 18th century, entrepreneurship moved from small-scale
production in small towns to large-scale production in big cities.

Two things fuelled this fundamental change in entrepreneurship, including:

Availability of Energy Production: Businesses were no longer restricted by small-scale

energy powered by wind (which was weather-dependent) or falling water (which was
location-dependent). Instead, they could rely on technologies like electricity, steam, the
internal combustion engine, the locomotive, the automobile, and oil. This gave them the
means to make large-scale factories.
Availability of Labour: Huge populations began moving to Industrial Revolution cities
starting in the 1700s. This gave entrepreneurs a large pool of cheap labour with which to
work.
Eventually, these powerful market forces would give rise to some of the world’s greatest
entrepreneurs and innovators. America played a particularly prominent role during this
period, giving rise to entrepreneurs like Andrew Carnegie, J. Morgan, John D. Rockefeller,
Frank Kenan and Henry for after World War II, entrepreneurship began to change for a few
different reasons. First and most importantly, the economy was increasingly global and
becoming more global every decade. Better means of shipping and communication made it
easy for entrepreneurs to sell products and services to a global audience. Massive economies
like America could no longer afford to concentrate solely on selling products to American
marketplaces. There were also microeconomic factors like the number of people owning cars.
Especially in America, car ownership made it more important to have highways between
major cities. As highways became more important, restaurants were needed where people
could eat while traveling.

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This is the environment where entrepreneurs like Ray Kroc made their millions. Kroc created
a standardized restaurant that cut down on costs by serving a limited number of men items.
Then, he replicated that model.

Other companies that prospered during this period included General Electric, aircraft
companies like Lockheed, IBM, and Holiday Inns.

Other countries around the world experienced similar boosts in growth following World War
II. Japan, for example, became one of the world’s largest economies by exploiting a large
population available for cheap wages. Germany experienced a similar trajectory

Today, entrepreneurs are the lifeblood of economies all over the world. Even in command
economies like China, entrepreneurs are valued for their contributions to the economy and
encouraged to innovate to compete with companies around the world.

The global economy – combined with modern infrastructure and communications – has
introduced a new age of competition to the world of entrepreneurship. No longer are you
competing with entrepreneurs in your tribe, town, village, or city: you’re competing with
entrepreneurs all over the world. Many of these entrepreneurs can access cheaper means of
production than you. They may have better access to raw resources of cheap labour, for
example. This has made modern entrepreneurship more challenging – and arguably more
rewarding – than ever before.

Since the beginnings of history, entrepreneurship has always been ruled by the market forces
known as supply and demand.  Early entrepreneurs in the Agricultural Revolution met the
needs of farmers by providing them with tools and shelter. In exchange, they received food
that could feed their families. As years went by, the means of entrepreneurship changed
dramatically but the core reasons for entrepreneurship remained the same. Everywhere in the
world, entrepreneurs arose to address demand by providing supply. They innovated and
invented new technologies to solve problems that nobody had ever solved before.

At the same time, competition has ensured that the entrepreneur’s self-interest doesn’t cause
an overall negative impact on society. Competition prevents entrepreneurs from overcharging
from goods or underpaying employees, for example.
These foundational structures of entrepreneurship aren’t going to change anytime soon. For
that reason, entrepreneurs will continue to have a special place in society and will continue to
be found at the forefront of innovation.

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CHAPTER 02
COMPANY PROFILE

ENTREPRENUER: 01

Name: Anand Adige

Qualification: PUC
Year of Establishment: 2018

ENTREPRENEUR: 02

Name: MAYA
Qualification: PHARMASIST
Year of establishment: 2016

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ENTREPRENEUR 03

Name: sona
Qualification: 7th
Year of establishment: 2015

ENTREPRENEUR: 04

Name: Manoj kumar

Qualification: degree
Year of establishment: 2019

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Chapter 03
RESEARCH DESIGN

Title of the study

“A study on Problems and challenges of small entrepreneurs “.
Statement of the problem
A common factor for all entrepreneurs is the challenge of starting a business, be it through
inventing something, looking for a new idea within a business, finding the right opportunity
to break into a business or buying into a franchise. And these entire take planning –
organizing all the aspects so that the entrepreneur can reach his or her goals. All
entrepreneurs are also faced with financing their entrepreneurial venture. Even entrepreneurs
usually are faced with financial hurdles within corporate rules. So unless the venture comes
from one’s own pocket getting money is a challenge that requires preparing funding
proposals or applications to be written and/or presented for loans, venture capital, angel
investors or even IPO’s. There is so much information written about these stages of an
entrepreneurial venture that sorting the good from the bad is an overwhelming challenge in
and of itself.

Objective of the Study

 To find out the challenges of entrepreneurs.

 To know about the opportunities of small entrepreneurs.
 To increase the credibility.
 To know about the challenges faced to expand the business.
 To have knowledge about the management.
 For expanding the business skills.

Scope of the study

Scope of Entrepreneurs Small- scale business provides good scope for the growth of
entrepreneurial activities. An entrepreneur has good opportunity and vast scope in selling
service rather than manufacturing a product. The entrepreneur can achieve better results if the
size of the business is small.

Review of literature
a. Author: A. Peter

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Peter (2004) in his book Youth Entrepreneurship Everywhere explains youth entrepreneurship
as a process of turning ideas into opportunities and opportunities into successful businesses
through the practical application of one-to-one mentoring model, entrepreneurship awareness-
building skills, personal empowerment skills, entrepreneurial/enterprise skills, business
planning skills, business management skills, support services availing skills and business
improvement skills. Annapurna (2002) observed that the sickness was a product of low level of
entrepreneurship, absence of facilitating environment and disorganized project evaluation
process of credit institution. The study pointed out that carelessness…show more content…
Bahia (2001) in his book Entrepreneurship for Engineers defines entrepreneur as a person who
has already started an enterprise or who is in the process of starting one. The author enlists the
characteristics of an entrepreneur in Indian conditions as – need for achievement, risk taking
attitude, need to influence others, ability to sense opportunities, positive self-concept, level of
expectation, initiative, inclination to accept challenges, independent thought and action,
problem solving attitude, inclination for searching environment, time boundless, sense of
dissatisfaction, result orientation, influence to get through bureaucratic red tapes, financial
soundness etc.

Baker (2008) in the paper “Fostering a Global Spirit of Youth Enterprise” outlines the present
challenge of youth unemployment and investigates the role that youth enterprise can play in
tackling this challenge, before examining the opportunities for public and private sector
collaboration to achieve meaningful social and economic change. The paper draws on examples
of existing collaborative youth enterprise initiatives suggesting how these may be replicable
and The author has elucidated the characteristics of a successful entrepreneur at length.
According to him, there are many critical factors contributing success such as skills, innovative
mind, providing completeness to the factors of production, decision making, creative
personality, plan making, dynamic leadership, creator of wealth, self-confidence and
ambitiousness, risk bearing, and adventurous

b. Author: McIntyre and Roche

Regarding the Entrepreneurship Education (EE), many researchers give entrepreneurship a

significant focus on their studies, McIntyre and Roche (1999) defines entrepreneurship
education as the process of passing the necessary skills and concepts to individuals to identify
new business opportunities and to reach high level of self-confidence to benefit from such
opportunities. In addition, McMullan and long (1987) and McMullan et al. (2002)
entrepreneurship education should include skill-building and leadership programs, new product
development, creative thinking, and technology innovation. Furthermore, Maritz et al. (2015)

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defines entrepreneurship education programs as any educational program or process of

education for entrepreneurial manners and skills, which help in developing personal qualities.
Entrepreneurship education has been classified by Van Gendered et al. (2015), as one of the
most important components of entrepreneurship ecosystem to enhance intentionally and
business creation stability.

C Author: Boltan
According to Bolton and lane (2012) stated that innovation and risk taking are strongly
related to the intent to become an entrepreneur. Lazear (2004) developed "Jack-all-
trades" theory, which suggests that people with balanced skill are more likely to be
entreurs, and those balanced skills can be adopted by getting appropriate education,
working in different functions and working for different employers. Moreover, Lazear
(2005) mentioned that individuals could invest to learn and get diversified skills
through education or job training. Individuals who want to get a career in
entrepreneurship choose to learn skills by either education or accepting a variety of
positions in the work. While, an individual who has educational background or previous
work experience will be more fit to be entrepreneur Investigating the impact of
entrepreneurial Get the App entrepreneurs' skills is the focus of Furthermore, Becker
(1964); Silva (2007); (2011) found that skills are the most imp outcomes acquired
through either formal education. While, (Ucbasaran et al., 2008) confirmed that
entrepreneurship education is a significant source of skills.
Data collection
Primary: Primary information were utilized has a survey to gather information. It was
collected by the way of discussion and questionnaire with the customer.
Secondary: This is information effectively gathered as existing in the association as past
records and sites. The information was gathered from the book, organization site, chrome and
other related records.
Area of research: Bangalore, Karnataka
Research Information: Google form, questionnaire.
Sample method : 60
Sample size: Simple random sampling

LIMITATIONS OF THE STUDY

 Study is confined to only 5 entrepreneurs
 Time constraint is the major limitation of the study

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 Entrepreneurs are not ready to reveal the financial information

 Barriers of finding of regular customer
 Pandemic as effected the regular business

CHAPTER 04
DATA ANALYSIS AND INTERPRETATION

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TABLE 4.1
Table showing the Gender of the respondents

Particulars Respondents Percentage

MALE 51 86.9%

FEMALE 7 12.1%

Total 58 100

Analysis
From the above overhead table we can analyse 86.9% of them are MALE
respondents, 12.1% of them are FEMALE respondents.

INTERPRETATION: From this analysis we can conclude that there are more number of
male respondents compared to female respondents.

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TABLE 4.2
TABLE SHOWING ABOUT THE EDUCATIONAL QUALIFICATION
PARTICULARS RESPONDENT PERCENTAGE
SSLC 22 36.7%
PUC 7 11.7%
DEGREE 28 46.7%

ANALYSIS: From the overhead table we can analyse that 36.7% are from SSLC and 11.7%
are from PUC and 46.7 % are from Degree educational.

INTERPRETATION: From this analysis we can conclude that there are more number of
degree respondents compared to other respondents

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Table 4.3
Table showing about the what sector does your business operate
Particulars Respondent Percentage
Educational 4 6.7%
Food 12 20%
Financial services 9 15%
Retail 5 8.3%
Tourism 2 3.3%
Other 28 46.7%

ANALYSIS: From the overhead table it shows that 6.7% educational and 20% of Food,
15%on finance service, 8.3% retails, 3.3% of tourism and 46.7% on others.

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INTERPRETATION: From this analysis we can conclude business operate sector is more
in other.

TABLE 4.4

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Table showing about the description of their business

Particulars Respondents Percentage
Start-up stage 16 26.7%
Pre-profit 11 18.3%
Profitable and growing 22 36.7%
Established and growing 11 18.3%

ANALYSIS: From the overhead table 26.7% are of Start-up stage, 18.3% are of pre-profit,
36.7%are of Profitable and growing, 18.3% are of Established and growing.

INTREPRETATION: From the analysis we can conclude that profitable and growing sector
is more.

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TABLE 4.5
Table showing about the duration of the business
Particulars Respondent Percentage
Less than 1 year 13 21.7%
1 to 3 year 16 26.7%
4 to 9 year 17 28.3%
Over 10 years 14 23.3%

ANALYSIS: From the overhead table 21.7 of less than 1 year, 26.7% are of 1 to 3 year,
28.3% of 4 to 9 year, 23.3% are of over 10 years

INTERPRETATION: from this analysis we can conclude that highest number of business
being running 28.3%, entrepreneurs are running business over in 4 to 9 year.

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TABLE 4.6
Table showing about the place of operation
Particular Respondent Percentage
I operate from home 22 25%
I rent a space 18 30%
I own a space 22 36.7%
I rent a space in co-working 5 8.3%

ANALYSIS: From the above table we can see that 22 have said that they operate from home,
18 of them have said that they rent a space, 22 of them own a space,

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INTERPRETATION: from this analysis we can conclude that most of them rent a space for
business purpose

TABLE 4.7
Table showing about the business support

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Particular Respondent Percentage

Online 13 13.3%
One to One 40 40%
Other financial support 23 33.3%
Business mentoring 6 13.3%

ANALYSIS: From the above table we can see that 40 people responded one to one, followed
by 23 for other financial support, 13 of them online, 6 of them for business mentoring.

INTERPRETATION: from this analysis we can conclude that most of them got One to one
business support.

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TABLE 4.8
Table showing about the financial support
Particular Respondent Percentage
Under 10000 15 15%
10000 TO 25000 21 21.7%
25000 to 50000 18 18.3%
Above 50000 45 45%

ANALYSIS: From the above table we can see that 21 of them said 10000 to 25000, 45 of
them above 50000, 18 of them 25000 to 50000.

INTERPRETATION: from this analysis we can conclude that above 50000 of them have
business support.

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TABLE 4.9
Table showing about the time for business recovery
Particular Respondent Percentage
1 – 2 years 56 56,7%
3 – 5 years 28 28.3%
Above 6 years 11 15%

ANALYSIS: From the above table we can see that 56, 7% of them recovery there business in
1-2 years, 28.3% of them recovery in 3-5 years, 15% of them recovery in 6 years.

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A STUDY ON CHALLENGES AND PROBLEMS FACED BY SMALL ENTREPRENEURS

INTERPRETATION: From this analysis we can conclude that 56.7% of them recovery
there business 3 to 5 years.

TABLE 4.10
Table showing about the Advice and support for Indian growth hub
Particular Respondent Percentage

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A STUDY ON CHALLENGES AND PROBLEMS FACED BY SMALL ENTREPRENEURS

Very Easy 6 6.7%

Easy 46 46.7%
Difficult 45 45%
Very Difficult 10 10%

ANALYSIS: From the above table we can see that 46.7% say easy, 45% of them say Very
easy, 10% of them say very difficult, 6.7% say very easy.

INTERPRETATION: From this analysis we can conclude that 46.7% of them say easy to
get business support from Indian business hub.

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A STUDY ON CHALLENGES AND PROBLEMS FACED BY SMALL ENTREPRENEURS

TABLE 4.11
Table showing about the reason for business failure
Particular Respondent Percentage
Lack of market research 10 10%
Poor financial control 32 31.7%
Poor management 19 18.3%
All the Above 40 40%

ANALYSIS: From the above table we can see that 10% have Lack of market research,
31.7% Poor financial control, 18.3% Poor management, 40% say All the above.

INTERPRETATION: From this analysis we can conclude that 40% of them agree all the
above.

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A STUDY ON CHALLENGES AND PROBLEMS FACED BY SMALL ENTREPRENEURS

TABLE 4.12
Table showing about the factors affecting entrepreneurship growth
Particular Respondent Percentage
Social 10 23.3%
Economic 32 14%
Physological 19 0%
All the above 40 36.7%

ANALYSIS: From the above table we can see that 23.3% of them say social factor, 14% say
economic factor, 36.7% of them say all the above.

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A STUDY ON CHALLENGES AND PROBLEMS FACED BY SMALL ENTREPRENEURS

INTERPRETATION: From this analysis we can conclude that 40% of them say all the
above factor are affecting entrepreneurship growth.

TABLE 4.13
Table showing about the problem faced by business due to epidemic

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A STUDY ON CHALLENGES AND PROBLEMS FACED BY SMALL ENTREPRENEURS

Particular Respondent Percentage

Increased efficiency of 16 16.7%
financing
Inability to deliver existing 20 20%
order
Reduction of order 23 23.3%
Other 40 40%

ANALYSIS: From the above table we can see that 23.3% of them say reduction in order,
40% other factor, 16.7% of them say increased efficiency.

INTERPRETATION: From this analysis we can conclude that there are other factors for the
problems faced in epidemic.

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A STUDY ON CHALLENGES AND PROBLEMS FACED BY SMALL ENTREPRENEURS

TABLE 4.14
Table showing about the satisfaction in the business
Particular Respondent Percentage
Satisfied 44 43.3%
Very satisfied 26 23.3%
Neutral 33 33.3%
Dissatisfied 0 0%

ANALYSIS: From the above table we can see that 43.3% of them are satisfied, 23.3% of
them are very satisfied, 33.3% of them say Neutral, 0 of them are dissatisfied.

INTERPRETATION: From this analysis we can conclude that people are very satisfied
with their business.

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Chapter 05
FINDINGS, SUGGESTIONS AND CONCLUSIONS

SUGGESTION
 Plan to sell your business
 Don’t try to go it alone
 Increase the trust your customers have in you and yours small business
 Improve your understanding of the real customer needs
 Improve your customer satisfaction level
 Start building relationship with the records of your small business blog
 Always be close to your community
 Exclude everything from your small business that means pressure to your customers
 Remove all the distractions around you when you are working on the important
business talks
 Improve the decisions making process in your whole company to escape possible
bureaucratic behaviour
 Create brand personality

CONCLUSION

The analysis brings a clear picture that starting a small business is complex time consuming
and life altering. Many times setting up a small business is easy but running them
successfully is very difficult. As already mentioned, many entrepreneurs failed to get their
investment returns in expected time and also some entrepreneurs where able to run their
business from year to year with profits .Although the major failure and difficulties for this
collapse are poor management and poor resource management and poor support. A
successfully running small business need plenty of support, support as money, as system, as
workforce, as time and plans. We also observe that entrepreneurs expected time for business
recovery is 3 to 5 years that is 56.7% and which is need to be think and analysed infect
finding business support in India is easy as observe survey.

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BIBLIOGRAPHY

Websites

https://www.ibef.org/industry/msme.aspx

https://yourstory.com/smbstory/small-business-indian-brands-entrepreneurs/amp

https://www.researchgate.net/publication/
318094156_A_study_on_the_challenges_faced_by_the_Entrepreneurs

https://www.lendingkart.com/blog/government-loan-schemes-for-small-businesses/

BOOKS Author

Entrepreneurship and Small Scale Businesses Bardhhaman

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ANNEXURE
Gender 
 Female
 Male

Educational qualification 
 SSLC
 PUC
 OTHERS
1. What sector does your business operate in? 
 Educational
 Food
 Financial services
 Retail
 Tourism
 Other

2. How would you describe your business? 

 Start-up stage
 Pre-profit
 Profitable and growing
 Established and growing

3. How long has your business being running 

 Less than 1 year
 1 to 3year
 4 to 9 year
 Over 10 years

4. Which of the following best describe your situation 

 I operate my business from home
 I rent a space
 I own a space
 I rent a space in co-working

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5. How do you prefer to receive business support? 

 Online
 One to one
 Other financial support
 Business mentoring

6. What percentage of your turnover is approximately spent on rents, salaries or other

costs? 

7. What is your approximate turnover of your business in the tax year ending 2021?  
 Under 10000
 10000 to 25000
 25000 to 50000
 Above 50000

8. What is expected time for business recovery? 

 1 to 2 years
 3 to 5 years
 Above 6 years

9. Rate your experience how easy to find business support and advice in India.  
 1
 2
 3
 4
 5

10. In your experience how helpful have you found business support and advice on the
India growth Hub? 
 Very easy
 Easy
 Difficult
 Very difficult

11. Which of the following is the reason for business failure 

 Lack of market research
 Poor financial control
 Poor management
 All the above

12. From the following which one is factor affecting entrepreneurial growth? 

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 Social
 Economic
 Psychological
 All the above

13. Are there any other business problems your company is facing due to the epidemic?  
 Increased difficulty of financing
 Inability to deliver exiting order
 Reduction of order
 Other

14. Overall how satisfied are you with your business 

 Satisfied
 Very satisfied
 Neutral
 Dissatisfied

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