A STUDY ON FACTORS INFLUENCING ENTREPRENEURSHIP DEVELOPMENT IN INDIA

Abstract

Entrepreneurship Development makes a powerful impact on the economic development of the country. The success of the entrepreneur depends on the environmental factors such as social, economic, legal, political and technological factors which influence their activities thus leading to successful entrepreneurship. The socio-economic factors are the major key factors influencing the entrepreneurial behavior and operation of the business and thus the need for the study and the due influence. In India, entrepreneurship can prove as one stop solution for addressing the major problems like unemployment and poverty. Every country, whether developed or developing, needs entrepreneurs. Whereas, a developing country needs entrepreneurs to initiate the process of development, the developed one needs entrepreneurship to sustain it. In the present Indian context, where on the one hand, employment opportunities in public sector and large-scale sector are shrinking, and on the other, vast opportunities arising from globalisation are waiting to be exploited; entrepreneurship can really take India to the heights of becoming a super economic power. Entrepreneurship Development makes a powerful impact on the economic development of the country. Beginning of the I.T. revolution in early 1990 to 2000s marked the change in the business orientation of the Indian market. New generation entrepreneurs started to come up. The research paper focuses on the new generation entrepreneurs in India and how they are sustaining in the environment and the factors which determine the support of entrepreneurs. The study analyses the factors that influence the development of entrepreneurship in India, problems faced by them in their path and study the supporting factors. The study aims to build up a frame work of entrepreneurship ecosystem in India. Primary data collected from various entrepreneurs from different cities are analyzed to draw conclusions.

Keywords: Socio-economic background, Influencing factors, Entrepreneurial motivation, Entrepreneurial perception, Entrepreneurial hurdles