Challenges Before Startup Entrepreneurs in Present Entrepreneurial Ecosystem

Authors

  • Sushil Kumar Singh

Abstract

The entrepreneurial ecosystem is the environment in which startups are born, grow, and succeed. It comprises elements that help companies succeed, such as infrastructure, talent, and finance access. The entrepreneurial ecosystem is constantly evolving, and the challenges faced by startup entrepreneurs are also changing. To provide a supportive environment for businesses and entrepreneurs, initiatives like Startup India, Make in India, and Digital India have been introduced. Startup entrepreneurs are indi- viduals who establish and operate new business ventures with the aim of introducing innovative prod- ucts, services, or business models to the market. These entrepreneurs typically create startups, which are newly formed companies that are often technology-oriented and have high growth potential. India has been a leading player in the global startup ecosystem. There has been a significant growth in the number of startups and entrepreneurs in recent years. As per to the Global Startup Ecosystem Report 2022, there were an estimated 540,000 startups worldwide in 2021. This paper aims at discussing the present contribution and support of entrepreneurial ecosystem in India and major challenge that startup entrepreneurs face in the present entrepreneurial ecosystem. These challenges include marketing, fi- nancial, human resource and technological challenges. Startup business owners confront numerous difficulties, but they are not insurmountable. Startup founders can raise their chances of success by being aware of the difficulties and taking action to reduce their risks.

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Published

2023-09-26

How to Cite

Sushil Kumar Singh. (2023). Challenges Before Startup Entrepreneurs in Present Entrepreneurial Ecosystem. NOLEGEIN- Journal of Entrepreneurship Planning, Development and Management, 6(1), 51–59. Retrieved from https://mbajournals.in/index.php/JoEPDM/article/view/1190

Issue

Vol. 6 No. 1 (2023): NOLEGEIN Journal of Entrepreneurship Planning, Development and Management

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Case Study

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