Barriers of Entrepreneurship

Entrepreneurship, although bears many rewards also have many barriers. Before an entrepreneur taste the sweetness of victory, he and his company should first undergo to the different barriers that will prevent and prolong them from achieving their triumph.
According to SP. Arun, a management student in Calicut University, barriers of entrepreneurship are divided into three major types, environmental barriers, personal barriers and social barriers. He said that environmental barriers are those barriers that arise inside the business. Some examples of these barriers are lack of resources, manpower, funds and inadequate machinery and infrastructures. Personal barriers according to him, are the barriers that the entrepreneur causes. Examples of these barriers are aversion to risks, unwilling to invest money, lack of confidence, innovation, knowledge, patience and inability to vision. The last type of barrier is the social barrier. This social barrier is the barrier to entry which are created by the culture of the community, i.e. people's behavior towards newcomers or others in general. Examples of this barrier are law status and traditions and culture of people.
Other writer, like Sunanda K. Chavan of Management Paradise Guru, had a different set of entrepreneurship barriers. According to her these barriers are the economic barriers such as capital, labor and raw material, non economic barriers like social, cultural (conformity, logic, social status) traditional and practical values. Personal barriers such as not sustained motivation, inability to dream, impatience and lack of clear perception, difficulty to deal with ambiguity and emotions (fear of failure).
Those barriers that were enumerated above are very general in nature. Umar Ashard, a serial entrepreneur in India, listed a list of eleven specific and major barriers to entrepreneurship. These barriers are corrupt and unsupportive business environment, employee related difficulties, severe market entry regulations, shortage of funds and resources, lack of entrepreneurship opportunities, lack of entrepreneurial capacity, lack of adequate entrepreneurship training, lack of appropriate technical and practical skills, lack of market experience, fear of failure, and aversion to risk. 

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Comments

  1. AnonymousMarch 17, 2025 at 4:35 AM

    Thanks

    ReplyDelete
  2. AnonymousMarch 17, 2025 at 9:27 PM

    Barriers to entrepreneurship often hinder progress. An Entrepreneurship Management Program can teach aspiring entrepreneurs how to overcome these challenges, fostering resilience and strategic thinking for business success.

    ReplyDelete

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