PROBLEMS FACED BY ENTREPRENEURS: A SPECIAL REFERENCE TO MICRO AND SMALL ENTREPRENEURS IN MUMBAI AND PUNE

The MSME’s in India faces large number of issues starting from finances, to location to competition. It takes a lot survive in this highly competitive world. Through it all it’s the entrepreneur who faces all of these factors. It is the entrepreneur who plays a major role in the economic development of the economy. It is he/she who has the passion, skill and zeal to start a venture on his/her own and continually work towards the excellence and the growth of the same. He/she works as a catalyst for change and also works towards the development of the people and places around him. He/she is a person who ideates and executes a plan first in his mind and then gets along with a team to actually implement his thoughts and ideas, thus making sure that he progresses along with his team and the productive development of the enterprise that he has started. He executes new techniques, new plans and ideas with care. But now there are so many problems he faces which includes the sources of capital, finding honest suppliers, finding loyal customers, finding right employees, unforecasted competition and also keeping in mind the ever changing industrial trends, rules and regulations brought up by the government. Objective of the Study Many researches and studies have been conducted to study the challenges, problems and risks faced by entrepreneurs in India. However very few researchers have made an in-depth study on the same, this study is focused on a detailed analysis of the kinds of problems faced by entrepreneurs. Methodology The study involves both the primary and secondary data and is empirical in nature with a sample size of 263 respondents taken randomly from the area of Mumbai and Pune in the state of Maharashtra. Limitations The study is based specifically in Mumbai and Pune, Maharashtra (only) wherein the entrepreneurs are selected at random. This research is based on the data received by interviewing the respondents personally, hence the given figures, to some extent, have the researchers’ perception to the reply given by the respondent. Also, some respondents choose not to answer to some questions as they were unaware, did not face the situations or did not remember the situations accurately.