Entrepreneurs of first generation are not doing well though they have entered into small-scale industrial ventures. They face a lot of operational problems while managing their establishments. The problems are, lack of raw-material, finance, marketing, government, funding agencies, competition and support from the family. Based on the primary data, the present study attempts to identify the factors which influenced the first generation entrepreneurs to identify their skills. For this purpose, 12 statements relating to the need of seed capital for a good start of the enterprise by the first generation entrepreneurs have been selected to identify the significant dimensions of the factors, with the help of factor analytical technique. It is inferred from the above factor analysis that the following factors have influenced the first generation entrepreneurs from the view point of their need for a seed capital as per the context of this study: need- seed, necessary, business soul, compromise, innovation. Further, it is inferred that there is a need for a war front action from the government to monitor its organizations established for entrepreneurship development and small industries development, and take stringent actions to ensure the practical application of the rules and regulations by controlling red tapism. Also, there is a need for the rejuvenation of new/first generation entrepreneurs, who are encountering problems.
N Selvaraj
Saraswathi Narayanan College, India
Factor Analysis, Need-Seed, Business Soul, Compromise, Innovation | Published By :
ICTACT
Published In :
ICTACT Journal on Management Studies
( Volume: 6 , Issue: 2 )
Date of Publication :
May 2020
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