A PILOT STUDY ON IMPACT OF SOCIO CULTURAL FACTORS ON ENTREPRENEURIAL SUCCESS

Entrepreneurship is considered an engine of growth for an economy in terms of employment generation, GDP growth and wealth creation. Entrepreneurship spirit takes place within a framework of both internal and external environment. In developing countries like India, the influence of internal environment factors on Entrepreneurship is more pronounced compared to external factors. The purpose of the present study is to identify some of those internal environmental factors that are influencing the entrepreneurial success of MSMEs in Vijayawada region based on a pilot study. A random sample of 55 entrepreneurs were selected from the records of Krishna District Industrial Centre for the study. Based on the review of earlier studies a structured questionnaire was designed to gather the required information from the respondents. Regression technique with mediation effects was adopted for hypothesis testing. Results of the study indicates that entrepreneurial success has negative relationship with education and positive relationship with trust and quality of workforce. One significant finding of the study is that the influence of education on entrepreneurial success turns positive when work experience is considered as a mediator between these two variables