Profiles of the young entrepreneurs: Inducements and hurdles

This study highlighted several important aspects of young entrepreneurs in Rangpur city of Bangladesh. It aims at presenting the profile of young entrepreneurs, identifying the major reason to start own business at younger age and pinpointing the foremost obstacles they faced in doing the business. The study was conducted on 250 young entrepreneurs who aged from 18 to 29. Firstly, the profile of the young entrepreneurs presents the basic information related to their age and marital status when they started the business, and academic qualification. In addition, the study specially put a light on what they think about their future career, what types of industries they are working in, from where they financed for business and what forms of ownership they are choosing for doing business. Secondly, the study identified the major factors that motivated them to start their own business at younger age. It comes up with some major reasons such as to achieve independence at younger age, to earn money to support personal expenses, and unavailability of preferred job. Thirdly, it reveals that young entrepreneurs face several youth-specific problems in starting and doing their business such as, lack of access to capital and credit, lack of trust among supplier and customers, lack of family support, and lack of experiences and skill. Later on, it focuses on some other common obstacles as well. Interestingly, it could be noted that the youth from Rangpur has a diverse profile, views, interests, and reasons regarding their entrepreneurial thoughts.