Barriers Of An Entrepreneur Essay

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Entrepreneurs are people with unique vision and the ability to take risk which other people might not take. According to the statement given “Sometimes the manager of the small business does not have the capacity to operate it successfully. The owner lacks the leadership ability and knowledge necessary to make the business work”, this reflects to the situation when the entrepreneur does not have the resources, in terms of financial, physical labour. The second line reflects to the point when the owner of the business also lacks the leadership skills and ability and also the knowledge required to carry out the business. Being an entrepreneur is not an easy task, you are always surrounded by ambiguity as in from when and where your next client, order, etc might come. A successful entrepreneur has few traits which helps her/him to take decision and in successful working of the venture. A few of these include creative thinking, risk taking ability, good communication skills.…show more content…
(Martins, 2004) The research paper talks about the barriers that an entrepreneur faces. It broadly talks about three types of barriers, mainly regulatory barriers, cultural & social barriers, economic and financial barriers. Regulatory barriers include reinforcing and supportive policies like the fiscal & monetary policies. The barrier to exit also acts as a problem faced by entrepreneur while trying to enter a market. Good knowledge about the culture and social norms of the society and the market is very essential for the entrepreneur, so the entrepreneur must have sound knowledge of the social and cultural aspects. Financial and economic barriers are important while considering entrepreneurial challenges. An entrepreneur finds it very difficult to sustain the business in the absence of adequate capital and financial

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