CHALLENGES LIKELY TO BE

FACED BY AN ENTREPRENEUR IN
A COUNTRY LIKE INDIA
Abstract

Real entrepreneurs are resourceful, passionate and driven to succeed and improve. They're

pioneers and are comfortable fighting on the frontline. The great ones are ready with

‘come what may’ spirit and passion, are commonly criticized in the beginning because they

can see their path ahead and are too busy working towards their goals. Entrepreneurs

convert ideas into economic opportunities through innovation which are considered to be

major source of competitiveness in an increasingly globalizing world economy. Different

degrees or levels of entrepreneurial intensity and drive depend upon how much

independence one exhibits, the level of leadership and innovation they demonstrate, how

much responsibility they shoulder, and how creative they become in envisioning and

executing their business plans. This paper focuses on the hurdles and challenges likely to

be faced by budding entrepreneurs as well as all major types of entrepreneurs in context of

India. An insight into problems an entrepreneur may face choosing and pursuing

entrepreneurship as a career.

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1. Introduction
Entrepreneurs shape economic destiny of nations by creating wealth and employment,

offering products and services, and generating taxes for governments. That is why

entrepreneurship has closely been linked to economic growth in the literature on the

subject. India has been growing at a relatively high rate in the last few years, and is

likely to be the largest economy in the world by 2050. Unlike most of the developed

economies, India is a young country with about 63 per cent population currently being

in the working age group of15 to 59 years. This is a plus factor in its favour as studies

have found that emerging entrepreneurship prevalence rates are highest in the 25-34

age group. But, this demographic dividend could prove to be its albatross if we are not

able to engage our youth in creative pursuits through developing appropriate skills,

including entrepreneurship skills. As of now, only about 5-6 per cent youth have

access to some kind of skills.

The Indian society, by and large, has a distinct preference for service/decent job, that

provides economic security and access to power that be. Youth get exposure to this

kind of pro-service culture since childhood. They grow up with a job-oriented mind-

set, and seldom think of entrepreneurship as a career. Our educational system also

rarely exposes the students to entrepreneurship; prepares them for a job instead. Even

if someone with a high entrepreneurial aptitude wants to set up a business, she/he is

discouraged by a host of adverse factors: lack of adequate access to information on

setting up and operating a business, procedural hurdles, lack of start-up funds, lack of

adequate networks and mentoring support, difficult access to technology, lack of a

supportive system, operational difficulties, and the nightmare about the consequences

of failure. These factors loom large and hinder the emergence of entrepreneurship, in

adequate measure.

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The Government of India has its focus on skill nourishment and increasing supply of

entrepreneurship in India consequently National Entrepreneurship Policy with the

overarching aim to augment the supply of entrepreneurs, Micro, Small and Medium

Enterprise (MSME) Development Policy have been framed. While MSME policy

focuses on existing enterprises or a group of enterprises (clusters), entrepreneurship

policy focuses on individuals with an expectation that they would move towards

entrepreneurship. It aims at making entrepreneurship a movement.

It is estimated that the non-farm unorganised sector accounts for about 89 per cent of

the gross value added and almost 98 per cent of employment in MSMEs, of which

over 64 per cent units fall in the self-employment category. Government is aware of

the fact that due to their informal status, they do not have much access to the

Government support umbrella. The concerns of self-employed micro entrepreneurs as

well as under-represented groups like women, minority communities, SC/ST, other

disadvantaged groups are not considered in full- fledged manner.

In view of these facts and figures, India needs to encourage the entrepreneurial skills

though focussing primarily on innovative, nascent, start-up and growth-oriented

entrepreneurs, also addressing the issues confronting self-employed micro

entrepreneurs and under-represented groups with a view to making them more

productive, efficient and competitive.

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 2. Entrepreneurship in context of India: A classification

2.1 Entrepreneurial ecosystem:

Entrepreneurial ecosystem is function of a number of factors working in tandem. Eco-

system is one of those words that gets bandied about casually, like “entrepreneur”,

like “awesome”, like “great!” an all-encompassing god-word that hides more than it

reveals. As with all words that tend to become buzzwords, gross trivializations have

occurred with this word as well.

The living members of the community – entrepreneurs, start-up employees investors,

lawyers, mentors and advisors, accountants, bankers and others interact with each

other and within a non-living environment of agreements, governance expectations

via a complex set of interactions conducted via meetings, events and discussions.

External factors like laws, taxation, availability of funds and exits play a role. Internal

factors like kinds of start-ups, their rate of growth, maturity, and capital consumption

impact the interactions and the processes of interactions.

2.2 Entrepreneurship Pyramid

The Entrepreneurship ‘Pyramid’ in India (in terms of sectors and numbers of people

engaged) is made up of the following:

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 • Agriculture and other activities: Crop
level 1 production, Plantation, Forestry, Livestock,
Fishing, Mining and Quarrying.

Level 2 • Trading services: Wholesale and retail trade;

Hotels and restaurants

•Old economy or traditional sectors: Manufacturing,

Level 3 Electricity, Gas and Water supply

•Emerging sectors (including knowledge intensive

Level 4 sectors) : IT, Finance, Insurance and Business services,

Construction,Community, Social & Personal Services,
Supply Chain, Transport-Storage-Communications etc.

2.3 Classification-Key Parameters

A classification of the entrepreneurs in terms of some key parameters such as sectors,

turnover, employment, age, family background, gender and time period are as

follows:

2.3.1 Sector:

(Sourcing http://knowledgecommission.gov.in/ )

The bulk of the entrepreneurs belong to the ‘manufacturing’ and ‘knowledge intensive

services’ sectors. (See levels 3 and 4 of the pyramid above); in addition, an ancillary

segment of ‘other services’ is also covered.

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2.3.2 Turnover:

While entrepreneurs revealed a wide range in annual turnover (from less than Rs. 1

crore to more than Rs. 500 crore), the majority in the sample report a turnover of less

than Rs. 100 crore(< Rs. 1 crore: 22%; Rs. 1-10crore: 35%; Rs. 10-100 crore: 30%).

The median turnover was Rs. 5 crore.

2.3.3 Employment:

About 81% of the entrepreneurs have less than 250 employees each (<10 employees:

17%; 10-50 employees:33%; 50-250 employees: 31%;>250 employees: 19%). The

median number of employees is 44.

2.3.4 Age :

As per a study, range of age groups (from 21 to70), the median age of the sample of

entrepreneurs is 43. In fact, one–fourth of the entrepreneurs are under 35, which

enabled us to get valuable insights from younger entrepreneurs. The median age at

which individuals in the sample became entrepreneurs was 27.

2.3.5 Family Background:

It comprises three types of entrepreneurs: first generation entrepreneurs, second

generation entrepreneurs in the same business and second generation entrepreneurs in

a different business. In fact, 63% of the entrepreneurs interviewed in a survey were

first generation entrepreneurs, 22% were second generation entrepreneurs who started

their own businesses and 15% were second generation entrepreneurs running their

family businesses.

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2.3.6 Gender:
Women entrepreneurs:
Women entrepreneurs face a series of problems right from the beginning till the

enterprise functions. Being a woman itself poses various problems to a woman

entrepreneur, the problems of Indian women pertains to her responsibility towards

family, society and lion work. The ownership data from the 4th Census of Micro,

Small and Medium Enterprises (MSMEs) conducted by the Office of the

Development Commissioner-MSMEs, Government of India clearly shows that despite

almost 50 per cent share in population, women account for only 7.36 per cent of the

ownership of MSMEs. The tradition, customs, socio cultural values, ethics,

motherhood subordinates to ling husband and men, physically weak, hard work areas,

feeling of insecurity, cannot be tough etc. are some peculiar problems that the Indian

women are coming across while they jump into entrepreneurship.

2.3.7 Time Period:

To explore factors across various time periods, the sample is spread as follows. 41% of

the sample entrepreneurs started their ventures before 1991; 25% started during the

1990s and 34% after 2000.

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2.4 Also it is pertinent to classify entrepreneurs based on geographical diversity in

ever evolving entrepreneurial ecosystem.

A major classification can be drawn as follows:

2.4.1 Rural entrepreneurs:

India lives in its villages, nearly 73 % of the total population live in rural areas where

agriculture and allied activities are the main stay of their lives. Most of the rural

entrepreneurs face peculiar problems like illiteracy, fear of risk, lack of training and

experience, limited purchasing power and competition from urban entrepreneurs.

2.4.2 Urban and semi-urban entrepreneurs:

In this segment the bulk of the entrepreneurs belong to the ‘manufacturing’ and

‘knowledge intensive services’ sectors. In addition, an ancillary segment of ‘other

services’ is also covered.

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3. The Matrix: Entrepreneurial ecosystem

Women

Rural

Semi-urban

Urban

Entrepreneurs

Entrepreneurs

Primary

Secondary

Tertiary

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 4. Challenges faced by entrepreneurs in India

4.1 General problems

(Sourcing http://businessjournal.gallup.com/content/156143/india-big-problem-nurturing-entrepreneurs.aspx)

4.1.1 Technological Challenges :

Indians have always been resistant to change however change is constant. We still

prefer paying our debtors by cheque instead of RTGS payments though its been ages

since the technology has been evolved. We don’t like to come out of your comfort

zone and try something extra. 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? Problems of obsolescence of indigenous technology Science and

Technology have developed in a vast arena. It not only improves the quality but also

producing good and best services with the reduction in the cost of production. The

reduction in cost increases the process of production. High-Quality commodities, Low

cost of productions, and faster production make highly competitive environment.

4.1.2 Financial Challenges:

If a person doesn’t have influential relatives or friends then its almost impossible to

start a new venture because banks are not ready to offer you loans and the venture

capitalists don’t have time to listen to your plan. The most difficult factor in becoming

an entrepreneur in India is access to funding. 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. The other option you can think of is loan but bank loan is

not at all an option in India for new entrepreneurs leading to early equity capital

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 problems. Entrepreneurs need more diversified, localised funding at the initial stage.

However, “The key problem for entrepreneurs seems to be less about the availability

of funding and more about finding the right type of funding. The majority of existing

venture capital funds for start-ups are focused on export-oriented IT or mobile

solutions,” the study said. Few seem to facilitate start-ups that offer the high-demand

products and services in the healthcare or energy sectors in India’s massive domestic

market. Sanjiv Bhikchandani, of Naukri.com would have never been able to launch

the firm had he not had support from his wife Surbhi during the initial years of the

firm.

4.1.3 Political challenges:

Vote bank politics and policy changes can do wonders. It can turn rags to riches and

vice versa. Sunil Bharti Mittal had to shut down his firm of importing generator plants

because the government had overnight come up with a policy banning the import of

generators to India and the license to manufacture was given to two firms in India. To

some extent, humungous corruption might be contributing to the low efficiency and

high costs of starting a business in India. Perceptions of a corrupt business community

could give business owners incentive to do unscrupulous things, such as paying bribes

to get work done, which could aggravate the lack of respect for entrepreneurs among

the Indian public. Moreover, the enormous policy changes with the change in

government make the business environment further problematic since adapting to the

changes takes a lot of effort. Less than half (48%) of Indians consider business

owners to be good role models for the country's youth, Gallup research shows.

According to the survey, around 46 percent of Indians say the government is the

biggest stumbling block to starting a business. More than seven in ten adults believed

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 corruption is widespread in the government. More than six in 10 agreed that

corruption is widespread in business. This perception was particularly high among

current business owners (72 percent) and those planning to start a business in the next

12 months (80 percent).

4.1.4 Educational challenges; Lack of training and mentorship:

There are very few institutes that foster Entrepreneurship education. This is leading to

lack of training in various fields like finance agri-business etc. India has taken

significant steps to promote entrepreneurial education and has established a list of

national institutions to provide special training for entrepreneurs. Gallup also found

that 22 percent of entrepreneurs who plan to start their business in the next 12 months

have access to formal or informal training to start a business — which is much lower

than the Asia average of 44 percent.

4.1.5 Ecosystem challenges; Team building issues:

We don’t trust anyone and trust me on that. Indians are more inclined towards job in

big companies than towards a partnership or even working in small start-ups. Only 16

percent of Indian adults say a non-relative can be a trusted business partner, the

survey said. The lack of judicial infrastructure on enforcement does little to protect

the trusting relationship between entrepreneurs and business partners or between

entrepreneurs and customers.

4.1.6 Social challenges; Cultural Bottlenecks:

Entrepreneurs have no guarantee of a fixed pay package like a person doing a nine to

five job has and this insecurity forces people to change their stance from starting a

new venture. The pressure from the society is also immense and one is forced to go

for a lucrative job offer than to pursue his or her dreams. Also, the first thing

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 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.

There is a never-ending family pressure for job security through traditional means.

Add to it some myths like not being able to find a good matrimonial alliance if one

runs his/her own business. Furthermore entrepreneurship is looked down upon by

various sects of society who finds nine to five jobs more lucrative and satisfying.

4.1.7 Globalization and related challenges:

Goldsport vanished as soon as Coca Cola came into the Indian market, and same was

the case with Hindustan Motors. However good a company may be its sustainability

cannot be guaranteed especially if the foreign players aim the same pie of the market.

.With the advent of foreign investments in India and taking a pie of the Indian market

it is causing a lot of issue to the entrepreneurs of India since they need to compete

with the giants of the not only India but world. These giants are equipped with the

best technology, financial support and operations support. Few years back the Indian

entrepreneurs had to fight regional and national competition. Now, almost all

countries have opened up their economies, and the world (globe) has become one

giant global market. To lead themselves in this globalization the entrepreneurs have to

prepare themselves with new innovative business ideas and skills.

4.1.8 Personality traits; Risk taking ability:

Harsha Bhogle had once said ‘India is a country of thinkers and not doers,’ because

there is no financial risk involved if one thinks of a b-plan however implementing the

same can burn a hole in one’s pocket. Research says more than 60% of the Indian

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 population possesses personality traits that are crucial for success as an entrepreneur

— such as business thinking (69%), optimism (66%), and persistence (65%) — which

suggests a wealth of entrepreneurial capacity. However, willingness to take the risk of

running a business is not a common trait among a majority of Indians. The Gallup

study found that only 16 percent from a sample of 5,000 own business, of which only

a fifth had formally registered. In addition, the World Bank’s report ‘Doing Business

2012: Doing Business in a More Transparent World’ ranks India at 166 among 183

countries in terms of starting a business. This ranking is unchanged from 2011,

indicating that little progress has been made toward reforming rules and procedures to

benefit those planning to start a business,” the study said.

4.1.9 Psychological traits; Jealousy:

The rat race present in the society to excel and earn is one of the biggest problems

facing India today. People are so engrossed analysing the success of their competitors

that they forget about their potential and capabilities. Instead of our dreams the

achievements of the competitors become the figment of our imagination. 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.

4.1.10 Other problems:

The dependence on erratic weather or national issues like naxalism and terrorism acts

as a deterrent for many to start a venture. Further is any business fostered in naxal hit

areas then finding a finance for them is also an issue.

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4.2 Sector specific problems:

4.2.1 Primary Sector:

Primary sector involves the extraction and production of raw materials, such as coal,

wood and steel. These are the problems generally faced in rural areas and

agribusiness, such as illiterate work force and unacceptability of technology,

government norms and regulations.

4.2.2 Secondary Sector:

Secondary Sector involves the transformation of raw materials into goods e.g.

manufacturing steel into cars. These are one of the major challenges in India due to

the obstacles of various and changing Govt. policies and Govt. clearances, also one of

the major cause for this is lack of infrastructure which leads to delay in supply of raw

material.

4.2.3 Tertiary Sector:

Tertiary Sector involves the provision of services to consumers and businesses, such

as cinema and banking. Unavailability of the educated and qualified team or

workforce is one of the major reasons or challenges that tertiary faces.

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4.3 Specific problems

4.3.1 Women Entrepreneurs

4.3.1.1 Family Ties

Women in India are very emotionally attached to their families. They are also brought

up in a culture with a mind-set to prioritize the family work. They are supposed to

attend to all the domestic work, to look after the children and other members of the

family. This takes away lots of their time and energy. In such situation, it will be very

difficult to concentrate and run the enterprise successfully. Some of the most

successful women entrepreneurs hail from India for the fact they could rise above the

plight what an Indian woman faces.

4.3.1.2 Male Dominated Society

Even though our constitution speaks of equality between sexes, male chauvinism is

still the order of the day. Women have still not been widely accepted by the society

alike men. They also face rough attitude at workplace with cases of molestation and

other hardships. All these put a break in the growth of women entrepreneurs. We are a

male dominated society where we have not been able to provide an equal status to

woman. Even today, entrepreneur is considered a male preserve.

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4.3.1.3 Lack of Education

Women in India are lagging far behind in the field of education. From the early age

they are put into household chores and those who are educated are provided either less

or inadequate education than their male counterpart partly due to early marriage,

partly due to son's higher education and partly due to poverty. Due to lack of proper

education, women entrepreneurs remain in dark about the development of new

technology, new methods of production, marketing and other governmental support

which will encourage them to flourish. We know the status of educational system in our

country adding to the fact the literacy among women is very low. This keeps her away from

the light of knowledge necessary to take up an entrepreneurial job.

4.3.1.4 Social Barriers

The traditions and customs prevailed in Indian societies towards women sometimes

stand as an obstacle before them to grow and prosper. Castes and religions dominate

with one another and hinder women entrepreneurs too. In rural areas, they face more

social barriers. They are always seen with suspicious eyes. The way we have treated

woman has curtailed her confidence in her which is must for being an entrepreneur.

4.3.1.6 Low-Risk Bearing Capacity

Women in India are by nature weak, shy and mild. They cannot bear the amount of

risk which is essential for running an enterprise. Lack of education, training and

financial support from outsides also reduce their ability to bear the risk involved in an

enterprises.

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4.3.1.7 Exploitation by Middle-men

Since women cannot run around for marketing, distribution and money collection,

they have to depend on middle men for the above activities. Middle men tend to

exploit them in the guise of helping. They add their own profit margin which results

in less sales and lesser profit.

4.3.1.8 Lack of Self-Confidence

Rural women entrepreneurs because of their inherent nature, lack self-confidence

which is essentially a motivating factor in running an enterprise successfully. They

have to strive hard to strike a balance between managing a family and managing an

enterprise.

4.4 Marginalised sections of society

These are some sections of society who are ignorant on the forefront. They even lack

basic amenities of life and two time meal is a harsh journey for them.

When such people come forward for an entrepreneurial job, they suffer much bigger

challenges of social disrespect, inequality and ignorance.

Marginalised groups are those who are effectively excluded from decision-making

processes and their needs for development are not taken into account. Indian

constitution recognizes socially marginalized communities based on the Caste they

belong to. On the basis of caste, Scheduled Castes (SC), Scheduled Tribes (ST), Other

Backward Classes (OBC) and the religious minorities, and also women are

marginalized in the field of entrepreneurship.

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 There is no such specific challenges that a marginalised group faces related to

entrepreneurship because they are still not yet included in this field rather the main

challenge or hindrance that they face is the lack of education. The most

underprivileged section of society, due to lack of basic amenities, is yet to discover

road to entrepreneurship and struggling with bread and butter. They do not have

sufficient knowledge to back them for the job. For such people, Entrepreneur is only a

dream however very few turn to reality.

4.5 Rural entrepreneurs

(Sourcing http://www.academia.edu/4459283/Rural_Entrepreneurship_in_India_Challenge_and_Problems )

4.5.1 Lack of infrastructural facilities

The growth of rural entrepreneurs is not very healthy in spite of efforts made by

government due to lack of proper and adequate infrastructural facilities. For example:

non-motorable roads leads to lesser connectivity with the market. Also, due to which

some amount of products gets damaged in commutation.

4.5.2 Paucity of funds

Illiteracy plays a big role in this. Most of the rural entrepreneurs fail to get external

funds due to absence of tangible security and credit in the market. The procedure to

avail the loan facility is too time-consuming that its delay often disappoints the rural

entrepreneurs. Major difficulties faced by rural entrepreneurs include low level of

purchasing power of rural consumer so sales volume is insufficient, lack of finance to

start business, reduced profits due to urban competition, pricing of goods and

services.

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4.5.3 Risk element

Rural entrepreneurs have less risk bearing capacity due to lack of financial resources

and external support.

4.5.5 Competition

Rural entrepreneurs face severe completion of large sized organizations and urban

entrepreneurs. They incur the high cost of production due to high input cost. Major

problems faced by marketers are the problem of standardization and competition from

large scale units. They face the problem in fixing the standards and sticking to them.

Competition from large scale units also creates difficulty for the survival of new

ventures.

4.5.6 Middlemen

Middlemen exploit rural entrepreneurs. The rural entrepreneurs are heavily dependent

on middlemen for marketing of their products who pocket large amount of profit.

4.5.7 Lack of knowledge of I.T.

Information technology is not very common in rural areas. Entrepreneurs rely on

internal linkages that encourage the flow of goods, services, information and ideas.

Decision making process and lines of authority are mostly blurred by local politics in

rural areas.

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4.5.8 Legal formalities

Rural entrepreneurs find it extremely difficult in complying with various legal

formalities in obtaining licenses due to illiteracy and ignorance.

4.5.9 Procurement of raw materials

Procurement of raw materials is really a tough task for rural entrepreneurs. They may

end up with poor quality raw materials, may also face the problem of storage and

warehousing.

4.5.10 Lack of technical knowledge

Rural entrepreneurs suffer a severe problem of lack of technical knowledge. Lack of

training facilities and extensive services create a hurdle for the development of rural

entrepreneurship.

4.5.11 Poor quality of products

Another important problem in growth of rural entrepreneurship is the inferior quality

of products produced due to lack of availability of standard tools and equipment and

poor quality of raw materials.

4.5.12 Low skill level of workers

Most of the entrepreneurs of rural areas are unable to find workers with high skills.

Turnover rates are also high in this case. They have to be provided with on the job

training and their training is generally a serious problem for the entrepreneur as they

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 are mostly uneducated and they have to be taught in the local language which they

understand easily.

4.5.13 Negative attitude

The environment in the family, society and support system is not conducive to

encourage rural people to take up entrepreneurship as a career. It may be due to lack

of awareness and knowledge of entrepreneurial opportunities. As per circumstances,

rural people by force may be more self-sufficient than their urban counterparts, but

the culture of entrepreneurship tends to be weak.

4.5.14 Other Related Problems

There are other related problems faced by rural entrepreneurs in ever evolving

environment. Growth of malls and complexes, frequent power failure, Non-motor

able roads, Lack of co-operatives which can help farmers for optimum utilization of

their produce, vagaries of nature like flood, drought and other natural disasters, Wide

disparity in public-private partnership in agricultural development, Non-awareness of

facilities adds more hardships to way of becoming successful rural entrepreneur.

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5. Conclusion

“(Most entrepreneurs) simply got tired of working for others, had a great idea they

wanted to commercialize, or woke up one day with an urgent desire to build wealth

before they retired. So they took the big leap.”

The country’s economic policy environment must be favourable for organizations to

achieve efficiencies in today’s global market. It should enable the entrepreneurs to

provide a magical touch to an organization, whether in public or private or joint

sector, in achieving speed, flexibility, innovativeness, and a strong sense of self-

determination. They bring a new vision to the forefront of economic growth of a

country. The study of entrepreneurship has relevance today, not only because it helps

entrepreneurs better fulfil their personal needs but because of the economic

contribution of the new ventures. More than increasing national income by creating

new jobs, entrepreneurship acts as a positive force in economic growth by serving as

the bridge between innovation and market place.

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