*Research Scholar, Department of Management Studies, S.V. University, Tirupati
**Associate Professor, Department of Management Studies, S.V. University, Tirupati
Online published on 22 September, 2014.
Entrepreneurship in India has been recognized as an essential ingredient of economic development. High literacy rate and lack of employment opportunities paved way for many unemployed youth including women to take up small-scale business units in India. A significant feature of the Indian economy since independence is the rapid growth of the small-scale industrial sector. However, the establishment of small-scale enterprises depends on a number of factors like encouragement of family members, encouragement of friends and/or relatives, acquired or inherited technical/professional skills, property belonging to spouse, property acquired, property inherited and a few others. A multitude of these factors may encourage entrepreneurial spirit among people and thus helps in building successful entrepreneurs.
The present empirical study aims at recognising the factors influenced the establishment of enterprises and also the factors facilitated the selection of the present location. The study revealed that the basic reasons behind selecting the entrepreneurial career is encouragement of family members, influence of success stories of entrepreneurs and the property belonging to the spouse. Most of the entrepreneurs seem to have influenced by self-motivation in starting the enterprise. However, motivations by the family members and friends have also been acknowledged by the respondents. The availability of financial resources, education and training, and risk taking ability have been recognised as the most useful factors for setting up the unit.
Entrepreneur, Entrepreneurship, Entrepreneurial Career, Small Scale Enterprises
