Challenges for small entrepreneurs: a case study of Ludhiana hosiery industry

This paper is an attempt to highlight the challenges faced by Ludhiana Hosiery Entrepreneurs which is the backbone of the state Economy. The Indian Economy has been revitalized because of the efforts of the entrepreneurs and the world has tumed how to free enterprise as a model for Economic development. The passion and the drive of entrepreneurs move the world of business forward. They challenge the unknown and continuously create the future. After the establishment of first woolen unit in 1902, the hosiery industry of Ludhiana has traveled a long and tumultuous path to reach the present state. Today there are about 15,000 hosiery units in Ludhiana. These represent 95% and 92% of the total hosiery unit of Punjab and India, respectively. The total production of these units is around Rs.5000 crare. The industry employs 5 lakh people out of which more than 1 lakh are skilled laborers. Despite all this contribution Ludhiana Hosiery Industry is facing immense challenges and some of the entrepreneurs have dubbed the government as anti-exporter and antientrepreneurs, because of so many procedural problems. Government is totally following the instructions of bureaucrats, instead ofmaking them follow the guidelines.