what various barriers to the development of Entrepreneurship in India?
The various barriers to the development of the Entrepreneurship Development :
These are certain factors which either support entrepreneurship or act as barriers to the entrepreneurship.
(1) Economic Barriers :
(1) Raw Material :
The lack of raw. Is normally the greatest economic barriers for the growth of entrepreneurship. Japanese society has been able to overcome the problem of lack of raw material through innovative management system.(2) Labour :
Cheap labour of a developing country may primarily appear to be strength in promoting enterprise, but the fact is that cheap labour acts as a barrier in setting up the modern enterprise.
(3) Capital : Capital is one of the most important prerequisite for setting up the new enterprises. Capital is a lubricant to the process of production. Entrepreneurship in any society increase with the increase in the supply of capital. Thus, a lack of availability of capital acts as a serious barriers for promoting entrepreneurship.
() Non-economic Barriers :
A large number of sociological and psychological factors acts as a non-Non-econ barriers. The factors which prevent the emergence of entrepreneurs can be classified as environmental and personal barriers.
(1) Personal Barriers to Entrepreneurship :
Even among the societies which are considered entrepreneurial progressive only selected few venture to set up their own enterprise. This indicates that personal barriers prevent people from launching their enterprise.
The following factors acts as a personal barriers to entrepreneurship development :
(a) Lack of clean Perception.
(b) Impatience in solving problems.
(c) Inability of dream.
(d) Difficulty with ambiguity
(e) Lack of sustained motivation
(2) Cultural Block/social block :
People are bound by their cultural values. Every society lays down some unwritten norms of acceptable behavior. If such norms are broken, the society does not approve of the resultant behaviour.
() Emotional Block :
Entrepreneurship involves risk, besides financial risk it involve emotional risk. Right answer is considered synonymous to success and being wrong is considered as failure. A fear of being wrong leads one to construct elaborate justification for own judgement and action. In case the decision proves to be wrong one can defend it by claiming that high level of prudence was exercised, people are afraid of not only making mistakes but more so appearing foolish because of such mistakes.
(1) Lack of clear Perception :
An entrepreneurs is one who can wisely identify an opportunity and exploit it for commercial gain. Most people will agree that a number of time they have failed in seeing an opportunity or an obvious solution to a problem. This behaviour is a major barriers to entrepreneurship.
(2) Impatience in solving problems :
When people face difficult problems generally they grab the first available solution and try to implement the same. People sometimes act so because of their emotional insecurity or with a view of hiding their incompetence. This solution mostly lacks imagination, creativity, enterprise is normally less sustainable.
(3) Inability to dream and use subconscious :
It is general experience that when a deadline is fixed for an assignment, the initial progress is slow and gain pace when the last minute approaches. Most people do their best work immediately prior to the final deadline as they allocated enough time in the early stages of the assignment to store up the information in their sub conscious.
(4) Difficulty and Ambiguity :
Some people are very compulsive and become upset if the order of their physical life is violated. Such people prefer every thing to be at its right place. When a new method of working is initiated. It many situations the data collected will be hazy or imperfect and ultimate decisions will be based upon opinion and value judgment.
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