Challenges for Entrepreneurship at present !
Every single human has entrepreneurial skills deep inside them. Some take advantage of the opportunities and let their entrepreneurial side flourish, others keep in buried in them. Entrepreneurship is much different in 21st century than earlier world order. There are lot of challenges that an entrepreneur face.
The concept of entrepreneurship was first established in 17th century. Since then, the idea or business has been evolving day by day. The free market economy, research and development and many different entrepreneurial courses have increased the motivation among the young people to come up with different ideas, take challenges, consider the risk factors and work on their idea. The internet bubble has created entrepreneurship a new dynamic in the economy. For example, A British entrepreneur had come up with an idea of selling pixels online on a website, he took up the courage and implemented his idea and ultimately he ended up making more than a million dollar from a single website. However, the main challenge that entrepreneur face today is taking up the courage and starting the business regardless of whether they are working on a new idea or coming up with an idea within another business idea.
One other big problem that comes along with entrepreneurship is managing the business. Lot of barriers comes along with starting a business such as marketing, employees, advertising, sales, communications, legal, laws, office preparation, risk management, crisis management, technology, hardware & software. Start-up capital is another issue since idea is the seed of all business and money is and important fertilizer of every business. So, the question is, how can the entrepreneurs tackle the challenges in 21st century when starting a business ?
Modified 2011-06-26 11:02:21
Research question: How to tackle entrepreneurial challenges ?