INTRODUCTION

ENTERPRENEUR An entrepreneur is one who always searches for change, responds to it and exploits it as an opportunity. Innovation is the basic tool of entrepreneurs, the means by which they exploit change as an opportunity for different business of service. --Peter Drucker To put it very simply an entrepreneur is someone who perceives opportunity, organizes resources needed for exploiting that opportunity and exploits it. Laptops, mobile phone, Motor Bikes, Credit Cards, Courier Service, and Ready to eat Foods are all examples of entrepreneurial ideas that got converted into products or services.

ENTREPRENEURSHIP A systematic innovation, which consists in the purposeful and organized search for changes, and it is the systematic analysis of the opportunities such changes might offer for economic and social innovation. -- Peter Drucker Entrepreneurship is the practice of starting new organizations or revitalizing mature organizations, particularly new businesses generally in response to identified opportunities. Entrepreneurship is a creative human act involving the mobilization of resources from one level of productive use to a higher level of use. "It is the process by which the individual pursue opportunities without regard to resources currently controlled."

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Entrepreneurship involves a willingness to take responsibility and ability to put mind to a task and see it through from inception to completion. Another ingredient of entrepreneurship is sensing opportunities, while others see chaos, contradiction, and confusion. Essence of Entrepreneurship is going against time with maturity and serving as a change agent.

Entrepreneurship is considered to be a significant determinant of economic development. New entrepreneurial activities play a vital part in the process of creative destruction that fosters innovation, employment, and growth. While India has traditionally been an entrepreneurial country, it fares poorly in numerous global studies exploring the entrepreneurial and business potential of countries but, on the other hand on the most conservative basis, our domestic consumption, in virtually any sector, has the potential to at least double, or treble, from current levels perhaps, just to catch up with a country like China. Then, there is the entire global opportunity, across diverse sectors internationally; the "Made in India" tag is now an increasingly respected brand, valued for quality, reliability, and competitiveness. Truly, with economic reforms in the country, and with the virtual removal of all trade barriers, the world is now our market and our opportunity. The pursuit of these opportunities requires an indomitable spirit of entrepreneurship. Entrepreneurship is often a difficult undertaking, as a vast majority of new businesses fail. Entrepreneurial activities are substantially different depending on the type of organization that is being started. Entrepreneurship ranges in scale from solo projects (even involving the entrepreneur only part-time) to major undertakings creating many job opportunities. Many "high-profile" entrepreneurial ventures seek venture capital or angel funding in order to raise capital to build the business. Angel investors generally seek returns of 20-30% and more extensive involvement in the business.

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INDIAN ENTREPRENEURSHIP
Entrepreneurship in India before 1991, Business was a little successful because of the limited ambition, licenses, contacts with the government organization and understanding the other functions. Decisions were made on connections than on competition. Goals of the business was reflection in the swadeshi movement which promoted to attain the freedom economic way. In this period entrepreneurship was not very much exposed and capitation was limited and India had a few successful stories. In 1991 government of India liberalized the economy. Indians take up their family businesses usually which made the other nationals to defeat the Indian market easily because they had super technologies, financial power and resources. Indian businesses was put up in a situation where they had to change the way in which they outlook the situation. Even later only few Indian families adapted themselves in the new policies which was even tougher for other families to get into this kind of changes. Recently the IT business get into introduce which paved a way for new owners and employers giving up more wealth which probably now India is growing in terms of business economically. Liberalization changed the nature of every family in India. For a large business to be successful the family should make them self flexible to see the competitive environment. IT business was a success because they focused and managed the customer professionally. After liberalization the business in India was better. A number of entrepreneurs were born and started to grow in large numbers such as the realtors, distributing personnels and the developers. Success followed when the efficient capital been allocated and proper execution and knowing the angle in which the customer may think of. Later the businesses started to joint venture with the companies and grow the capital. To maintain a business the Indian entrepreneurs separated the control which operates the business for the benefit of the owners and family succession. Indian businesses should have
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to make professional managers for the proper development. The management controls should be with the professionals and it should be performed in an efficient way which benefits the employee and the owner who can still provide the vision and connection. As Indian business became very professional the opportunities to get the global business which made the tie ups with the countries abroad increased.

RISKS TO INDIAN BUSINESS GROWTH

The entrepreneurs in India will develop and grow if the economy continues to grow on a sustainable basis. The risk to the Indias growth is Terrorism, Corruption (Politically) etc. As investment increases foreign businesses can invest in India. 1. Terrorism: Terrorism is attributable to religions and naxals. The terrorism creates uncertainty and delays the investment in any countries. So its necessary to comprehend a country culture, constitution and the response to terrorism. Culture is there in myths, television, religion and history. Indian culture is tolerable and has many differences. To distinguish between the Europe and India Indian has many divergent countries. Whereas Europe has independent countries. The skill in entrepreneurship and flexible to grow in spite of all the challenges.

2. Political risks: India is a country with the lot of complexities and the political parties that are in India is abundant. The parties have involved addressing the needs and they gave the lower groups a way to the national level. The future will characterize with the combining of the politics into business. As the middle class families in India grow the caste Religious differences will fade giving rise to the new economical development positively with the uncertainties in the market place.

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3. Economic Reforms Growth needs to continue and India needs another dose of reform, aimed at markets for inputs, from electricity to labor and land. If we are to continue to maintain the growth trajectory, the market for inputs needs to be liberalized. These are difficult political decisions and coalition politics will make the process slower and difficult. It will be easier for the government to address and repair old infrastructure through public private partnerships. India is going through a structural not a cyclical change; hence, the process is slow and driven by the political process. We need investments in power, roads, ports and bridges. An important area of reform is the power sector, as no industry can achieve a successful transformation without sufficient power. This is why the Indian government needs to push through the reforms on power generation, transmission and distribution. It is difficult to dampen the Indian entrepreneurial spirit. It has grown and competed in the global market despite the controls of the Indian.

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CHALLENGES FACED BY INDIANENTREPRENEURS

CHALLENGE OF GLOBALIZATION
A few years back the Indian entrepreneurs had to fight regional and national competition. However, today, the scenario has changed and become much more complex than what it was earlier. Now, almost all countries have opened up their economies, and the world (globe) has become one giant global market. To survive this competitive era of globalization, Indian entrepreneurs must prepare themselves with new, better, and innovative business tactics and skills. They must accept this global challenge willingly and try their best to seek business opportunities to establish their dominant place in this ever-changing and always challenging open market. In this global competitive scenario, the Indian entrepreneurs have to compete with well-established giant foreign companies. For example, if they decide to start a beverage company, their competitors are likely to be large multinational corporations such as CocaCola and Pepsi.

Giant multinational corporations have tremendous money power (surplus funds), branches all over the world (global presence), efficient teams of wise managers and experienced
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employees (skilled human resource); they sell high-quality goods and services at lower prices, and also use superior marketing techniques. These solid advantages of multinational corporations make it very difficult for Indian entrepreneurs to compete. Hence, this is a big challenge before them. Indian entrepreneurs will have to improve in all departments of business such as Production, Marketing, Finance, etc. They will have to use modern technology, new methods and efficient and highly motivated manpower to fight this competition.

LIBERALIZATION IN INDIA, 1991 Liberalization is a process of giving liberty or freedom to someone to do something, which was previously restricted, banned or prohibited. In context of this article, liberalization means removing all restrictions imposed on the entry and growth in trade or business. The Government of India (GOI) started the process of liberalization in India in year 1991. With its initiation, private entrepreneurs were granted liberty (freedom) to start any business in any open domain (unreserved sector) of choice.

However, this openness came with few exceptions that were strictly restricted only for Indian government to operate and manage, this included Railways, Water Supply, Defense, and other reserved public sectors. India's liberalization of 1991 opened a gift-box of many new
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business opportunities for entrepreneurs. Now, the challenge before Indian entrepreneurs is how to take optimum advantage of these business opportunities in India. The Ambani family that handles Reliance Group of Industries took full advantage of liberalization in India. Other entrepreneurs must also analyze their footsteps and try to follow them by making their own individual ways in a wise manner. Again this is not an easy task to accomplish, rising cut-throat competition has made it much more difficult for both Indian and foreign companies. However, Indian entrepreneurs can beat this enormous competition by focusing more on selling high-quality yet unique goods and services at lowest prices feasible.

ADAPTING A MODERN TECHNOLOGY

With each passing day, Science and Technology are developing rapidly. Modern technology not only improves quality of produced goods and services, but it also helps to reduce their cost of production. It speeds up their process of production. High-quality commodities, lower cost of production and faster production rate makes any company a highly competitive one. Therefore, it becomes mandatory for every company to keep pace with new emerging technologies and adapt it regularly to remain as cutthroat as possible. So, it is always better to replace outdated technology with the new technology. Old machines must be replaced by modern machines.

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This is a big challenge before an Indian entrepreneur. If he has a financial problem, then he must try to maintain a good balance between old and new technology. He also has a challenge to train his staff well to make them able to use (handle) the modern machines and technology properly.

CHANGING WORKFORCE IN INDIA

In the recent decade, the workforce in India has undergone a remarkable change. Statistics indicate the dominance of men in the workforce is shrinking day-by-day. A new breed (generation) of highly educated Indian women has entered the workforce in India. Breaking all traditional and social barriers, they have established themselves as efficient employees and professional managers. Today, it is very common to see a lady professional working in a corporate office. This presence of women in the workforce has brought new challenges before Indian entrepreneurs.

To handle women's workforce-related challenges efficiently, Indian entrepreneurs must know and follow all the special Labour Laws for women. They must provide women staff with better working conditions, safe environment, and other essential facilities. Special care must be taken to see to it that they are treated with dignity and respect. Their grievances or complaints, if any, regarding physical or mental harassment must be addressed immediately and seek prompt actions. Working women experience more stress than their male
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counterparts. It is so since they perform dual duties on a day-to-day basis. Along with managing their professional jobs they also have to look after their children, family and domestic chores. This overall increases their personal responsibilities and causes them both mental and physical stress. Understanding women's dual roles, an employer can try to some extend alleviate their stress by granting satisfactory maternity leave, providing separate toilets and washrooms, implementing favorable work timings that don't disturb their domestic lives, providing a health insurance or at least a free routine medical checkup, employee benefits that can improve their lives. Employer must remember that a happy, sincere and hard-working woman always gives her best to the organization she works for. This ultimately pays an employer a good return over his kind and humane investment. Along with handling women in the workforce, Indian entrepreneurs also face a great challenge to tackle young-generation in the workforce. Today, managers hired by most companies are young, energetic and ambitious graduates that have big dreams to accomplish. These managers are eager to work hard but expect a good reward in return, which is satisfactory to their monetary, physical and psychological needs. These restless youngsters must be continuously motivated by keeping them engage in challenging tasks and interesting work assignments, providing attractive salaries, incentives, perks or employee benefits, etc. If not, they will resign and leave the company and then join the competitors. Loyalty is not a big factor now-a-days as it was a few years ago. The Indian entrepreneur has to face this challenge by training and developing these young minds and motivating them continuously.

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 MARKETING IS A BIG CHALLENGE

Today, companies have formulated many new techniques to market their products and services. High pressure salesmanship is used. Children are often targeted in the many advertisements. It is so since kids compel their parents to buy products they are lured by. Advertising is done to propagate marketing message and this is done through various media like television, newspapers, magazines, the internet, radio, cell phones, hoardings, etc. Advertising is now become an inseparable part of modern marketing. Marketing is a big challenge before every Indian entrepreneur. He has to select an efficient and experienced marketing team. He must train and develop this team into a result-oriented one. He must motivate his marketing team with high salaries, attractive incentives and good commissions. Indian entrepreneur must try his level best to satisfy needs and expectations of his customers. He must use marketing research and produce his product by taking into consideration the consumers likes and preferences.

He must sell high-quality goods at lower prices. He must also provide after-sale services. In short, he must make his business a consumer-oriented and service-oriented one. He must always give his customers full value for their money. If not, they will lose trust in his brand and go to the competitors.
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 MANAGING THE FINANCE OF BUSINESS

Finance is the life blood of a business. It can either make a business or break it. Undercapitalization and Over-capitalization are very harmful to the business. Managing the finance of his business is a big challenge for an Indian Entrepreneur. He must manage both Fixed and Working capital properly. He must borrow money from the right source. He must manage his Cash Flow properly. He must invest his excess funds correctly.

He must create sufficient Reserves and surpluses. He must provide enough depreciation for his fixed assets, so that he can replace them when they become old and outdated. He must provide for repairs and maintenance of machines. He must also take steps to provide for but avoid bad debts.

CHALLENGES IN THE FIELD OF PRODUCTION

The Indian entrepreneurs have to face many challenges in the field of production. They must replace all outdated plants and machineries with new modern ones. They must provide
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continuous training to their production staff. They must use good quality raw-materials to produce high quality finished goods. They must have a good Inventory Control system. This will avoid Over-stocking and Under-stocking. Over-stocking will block the working capital, and Under-stocking will block the production process. Indian entrepreneurs should use a part of their profits for Research and Development (R & D). They must pay special attention to Quality Control (QC). Now-a-days most companies also use Total Quality Management (TQM) to ensure their finished goods are of good quality.

BALANCING ECONOMIC AND SOCIAL OBJECTIVES

This is also a big challenge before Indian entrepreneurs. They must balance between earning high profit and doing social-welfare activities. They must use modern machines without causing unemployment and harm to the environment. They must earn a profit without reducing quality of their goods and services.

They must earn a profit without charging high prices for their products. They must not cause any type of pollution in the society. They must accept their communal responsibilities and donate a small part of their profit (money) for social causes. They must pay all their taxes and duties. They must not use unfair and unethical practices to fight cutthroat competition.

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 SOCIAL CHALLENGES
Family challenges are always at the top because that is what matter the most but at times social challenges also are very important. It is happening in terms where you will have lot of challenges to be faced because the improvement in the business will be a quite delay than being an employee but the future growth is very large which patients is very important. On looking the people when the entrepreneur lose the confidence inside him/her then it will be a failure which should be taken care of.

TECHNOLOGICAL CHALLENGES
Indian education system lags too much from the Job industry as a whole but then it lags even more when it comes to online entrepreneurship. This does makes entrepreneurs life that much more difficult on technology front.

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 FINANCIAL CHALLENGES
Financial challenges are a lot different in India especially for online entrepreneurs. When you are starting out as an entrepreneur you dont opt for venture funding but try to go with funding from small to medium business people. Many such non technical business people dont understand the online business models as a whole and so getting an initial business funding from them becomes challenging.

TEAMING CHALLENGES Indians are more inclined towards job in big companies than towards a partnership or even working in small start-ups. You can have the hardest time finding the right team of people to get yourself moving. This problem to find the right balance of people to work is very difficult.

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 MOTIVATION AND DEDICATION

Indian women/men come across several barriers before coming for a working environment it is not only India but all the continents, countries, states, cities. The thing that is more needed for the growth of the organization is that the employees should be treated in a good manner that they work with dedication. The thing to make them do the work with a piece of dedication it is done by appropriate actions taken by the entrepreneur. The entrepreneur should make a more number of activities which motivates them and which makes them self dedicate them self to get into the business.

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WHY INDIAN MIDDLE CLASS FAMILIES DO NOT ENCOURAGE ENTREPRENEURSHIP???

Entrepreneurship is not about running a company; it is about running a company rightly. The courage and smartness required to perform any entrepreneurial activity is itself challenging but this also comes with rejection and worried attitude amongst parents and caretakers. In a developing nation like India where people still believe in the notion of inheritance and secured government jobs, entrepreneurship is definitely not a favorably welcomed. Most Indian parents feel that working in a MNC or having a secured government job with regular and timely pay checks being delivered at the doorstep is everything. The value of entrepreneurship is never considered and overlooked. This country is blessed with great entrepreneurs who have broken the silence to march towards their entrepreneurial vision. So here are the reasons why Indian middle class families do not encourage entrepreneurship. THE WOES OF MARRIAGE While parents and caretakers itself put down the concept of entrepreneurship, in-laws and relative going against it must not come as a surprise. In India, entrepreneurship is often picturised as a sinking boat and hence it becomes difficult for one to get a good bride or a groom, by having the word entrepreneur in ones profile.

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 REPAYING LOANS AND CREDITS

India is a developing country and the numbers of middle class families are high. Most of these families have various loans above their head and a life of an aspiring entrepreneur is directed towards it. The list goes on and on with various types of loans like car loan, housing loan and educational loan and the worst part is not many would be ready to share this responsibility.

FEARING FAILURE
People still think entrepreneurship is all about risk and only risk. They overlook the actual facts of running a startup and de-motivate budding talents. The biased mindset of people is slowly changing but this does not mean that there is uplift because though people are slowly getting used to the concept of entrepreneurship, their fear for failure is immense and firm.

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 MINDSETS OF THE PEOPLE Sometimes it is easy to convince the family members about an idea or a plan but people in the society disown entrepreneurs as they think people who have relentlessly failed think about starting a company. Society and social circles have a huge impact on entrepreneurship, though people say that failures are the stepping stone, Indian community doesnt encourage a person who has failed in a venture.

NOT A RESPECTABLE JOB

Yes! In India entrepreneurship is something that people do post retirement. If a teenager wishes to become a startup entrepreneur he is considered to be a black sheep. Parents and caretakers find it difficult to answer the social circle about their kids entrepreneurial passion. He is up to something and we dont know is the general answer given by pa rents of startup entrepreneurs in India.

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 ACADEMIC SYSTEMS ARE BUILT FOR JOBS Students at schools and colleges are given rigorous training to develop their skills to adopt the corporate environment, in fact there were no institutions in the country that focused in developing entrepreneurial skills. Entrepreneurship is considered to be a taboo and it is now that the government is realizing the importance of entrepreneurship by promoting it in academics and through various programs.

LIABILITIES AND PROBLEMS This is not something that is seen only in India but the crowd here thinks that liabilities and problems only revolve around them and they consider entrepreneurship a pain for all the time, money and attention it demands. The main problem creator here is the dependency syndrome; family members strongly feel that working in a corporate is better than a startup failing to realize that they are being very dependent.

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ESSENTIALS TO FACE THE CHALLENGES

RELIABLE SUPPORT FROM HONEST AND EFFICIENT GOVERNMENT INSTITUTIONS IS ESSENTIAL. It is not easy to start a business in India. When asked about the difficulty of starting a business, 46% of Indians say the government makes it hard to start a business, while 26% think the opposite. Little progress has been made on this front. To some degree, widespread corruption might be contributing to the low efficiency and high costs of starting a business in India. Perceptions of a corrupt business community could give business owners incentive to do unscrupulous things, such as paying bribes to get work done, which could exacerbate the lack of respect for entrepreneurs among the Indian public. Less than half (48%) of Indians consider business owners to be good role models for the country's youth, Gallup research shows. INDIAN ENTREPRENEURS NEED MORE LOCALIZED FUNDING AT THE INITIAL STAGE. The most helpful factor in becoming an entrepreneur in India is access to funding. India has attracted the attention of global investors in recent years because of its growth and optimistic expectations for its future. The key problem for entrepreneurs seems to be less about the availability of funding and more about finding the right type of funding. The majority of existing venture capital funds for startups are focused on export- oriented IT or mobile solutions. Few seem to facilitate startups that offer the high-demand products and services in the healthcare or energy sectors in India's massive domestic market. Another potential problem with funding lies in the disconnect between investment funds and local entrepreneurs. Foreign investors could make inaccurate assumptions based on funding arrangements that have worked well in their home countries or other emerging markets and, in turn, ignore that India is unique in its market demands, talent supply, and business culture.

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 INDIAN ENTREPRENEURS NEED MORE ACCESS TO TRAINING AND MENTORSHIP, PARTICULARLY IN RURAL AREAS. The best mentorship comes from successful business owners who have personal experience overcoming entrepreneurial challenges. India has some high-profile entrepreneurs who can serve as inspirational icons. India has taken significant steps to promote entrepreneurial education and has established a list of national institutions to provide special training for entrepreneurs. Entrepreneurial education also shares many of the prevalent problems regarding the general education system in India, including a shortage of quality educators and an absence of quality content, which hinder entrepreneurial growth ENFORCING AGREEMENTS IS NECESSARY TO PROTECT TRUSTING BUSINESS RELATIONSHIPS. India has a large youth population, which tends to be more willing to take risks compared to the older population. The lack of judicial infrastructure on enforcement does little to protect the trusting relationship between entrepreneurs and business partners or between entrepreneurs and customers. A lack of trust inhibits collaboration and significantly increases the risk an entrepreneur takes, ultimately slowing the growth of the MSME sector. A. Skilled Manpower: For a great business plan with an excellent business model but for the sustainability of the enterprise and the scalability of the idea, you need people with the required skill-sets at all levels. While manpower may be cheap in India but the quality leaves a lot to be desired. Safety and security of government sector was the driving factor followed by lure of the bucks offered by private sector. So the youth don't just lack the required skills, rather they aren't mentally prepared either to work in a startup. B. Funding: According to research firm Venture Intelligence, 64 startups - companies that are less than three years old have a venture capital funding. According to industry experts there is need for at least 10-foldincrease in early stage risk capital. Given the high interest

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rates and lengthy process involved; debt, as a source of funding, in not even an option for these startups. Also there is every reason to suggest that the euphoria of the past year and half has made way for a more circumspect funding environment. C. Uncertainty: India is a developing country and unlike its developed western counterparts, it carries more risk. While an entrepreneur is one who is geared up to take risks and deal with uncertainty but systemic risks may simply be too hot to handle even for them.

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WOMEN ENTREPRENEURS
Women entrepreneurs face a series of problems right from the beginning till the enterprise functions. Being a woman itself poses various problems to a woman entrepreneur, The problems of Indian women pertains to her responsibility towards family, society and lion work. The tradition, customs, socio cultural values, ethics, motherhood subordinates to ling husband and men, physically weak, hard work areas, feeling of insecurity, cannot be tough etc are some peculiar problems that the Indian women are coming across while they jump into entrepreneurship. Women in rural areas have to suffer still further. They face tough resistance from men. They are considered as helpers. The attitude of society towards her and constraints in which she has to live and work are not very conducive. Besides the above basic problems the other problems faced by women entrepreneurs are as follows: 1. FAMILY TIES: Women in India are very emotionally attached to their families. They are supposed to attend to all the domestic work, to look after the children and other members of the family. They are over burden with family responsibilities like extra attention to husband, children and in laws which take away a lots of their time and energy. In such situation, it will be very difficult to concentrate and run the enterprise successfully. 2. MALE DOMINATED SOCIETY: Even though our constitution speaks of equality between sexes, male chauvinism is still the order of the day. Women are not treated equal to men. Their entry to business requires the approval of the head of the family. Entrepreneurship has traditionally been seen as a male preserve. All these put a break in the growth of women entrepreneurs.

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3. LACK OF EDUCATION: Women in India are lagging far behind in the field of education. Most of the women are illiterate. Those who are educated are provided either less or inadequate education than their male counterpart partly due to early marriage, partly due to son's higher education and partly due to poverty. Due to lack of proper education, women entrepreneurs remain in dark about the development of new technology, new methods of production, marketing and other governmental support which will encourage them to flourish. 4. SOCIAL BARRIERS: The traditions and customs prevailed in Indian societies towards women sometimes stand as an obstacle before them to grow and prosper. Castes and religions dominate with one another and hinder women entrepreneurs too. In rural areas, they face more social barriers. They are always seen with suspicious eyes.

5. SHORTAGE OF RAW MATERIALS: Scarcity of raw materials, sometimes, availability of proper and adequate raw materials sounds the death-knell of the enterprises run by women entrepreneurs. Women entrepreneurs really face a tough task in getting the required raw material and other necessary inputs for the enterprises when the prices are very high.

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6. PROBLEM OF FINANCE: Women entrepreneurs stiffer a lot in raising and meeting the financial needs of the business. Bankers, creditors and financial institutes are not coming forward to provide financial assistance to women borrowers on the ground of their less credit worthiness and more chances of business failure. They also face financial problem due to blockage of funds in raw materials, work-in-progress finished goods and non-receipt of payment from customers in time. 7. TOUGH COMPETITION: Usually women entrepreneurs employ low technology in the process of production. In a market where the competition is too high, they have to fight hard to survive in the market against the organized sector and their male counterpart who have vast experience and capacity to adopt advanced technology in managing enterprises

8. HIGH COST OF PRODUCTION: Several factors including inefficient management contribute to the high cost of production which stands as a stumbling block before women entrepreneurs. Women entrepreneurs face technology obsolescence due tonon-adoption or slow adoption to changing technology which is a major factor of high cost of production.
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9. LOW RISK-BEARING CAPACITY: Women in India are by nature weak, shy and mild. They cannot bear the amount risk which is essential for running an enterprise. Lack of education, training and financial support from outsides also reduce their ability to bear the risk involved in an enterprises. 10. LIMITED MOBILITY: Women mobility in India is highly limited and has become a problem due to traditional values and inability to drive vehicles. Moving alone and asking for a room to stay out in the night for business purposes are still looked upon with suspicious eyes. Sometimes, younger women feel uncomfortable in dealing with men who show extra interest in them than work related aspects.

11. LACK OF ENTREPRENEURIAL APTITUDE: Lack of entrepreneurial aptitude is a matter of concern for women entrepreneurs. They have no entrepreneurial bent of mind. Even after attending various training programmes on entrepreneur ship women entrepreneurs fail to tide over the risks and troubles that may come up in an organizational working.
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12. LIMITED MANAGERIAL ABILITY: Management has become a specialized job which only efficient managers perform. Women entrepreneurs are not efficient in managerial functions like planning, organizing, controlling, coordinating, staffing, directing, motivating etc. of an enterprise. Therefore, less and limited managerial ability of women has become a problem for them to run the enterprise successfully. 13. LEGAL FORMALITIES: Fulfilling the legal formalities required for running an enterprise becomes an upheaval task on the part of a women entrepreneur because of the prevalence of corrupt practices in government offices and procedural delays for various licenses, electricity, and water and shed allotments. In such situations women entrepreneurs find it hard to concentrate on the smooth working of the enterprise. 14. EXPLOITATION BY MIDDLE MEN: Since women cannot run around for marketing, distribution and money collection, they have to depend on middle men for the above activities. Middle men tend to exploit them in the guise of helping. They add their own profit margin which results in less sales and lesser profit. 15. LACK OF SELF CONFIDENCE: Women entrepreneurs because of their inherent nature, lack of self-confidence which is essentially a motivating factor in running an enterprise successfully. They have to strive hard to strike a balance between managing a family and managing an enterprise. Sometimes she has to sacrifice her entrepreneurial urge in order to strike a balance between the two.

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CURRENT SCENARIO OF ENTREPRENEURSHIP IN INDIA

According to the Global Entrepreneurship Monitor (2007) report, Indias High -Growth Expectation Early-Stage Entrepreneurship (HEA) rate is only one-fifth of that of China. Further, among medium and low income countries, while Chinas nascent and new entrepreneurs appear to be the most growth-oriented, with more than 10 per cent of them anticipating high growth. Early-stage entrepreneurial activity in India is marked by low levels of growth expectation. This is despite the extremely high levels of potential entrepreneurial activity as perceived by the non-entrepreneurially active population in the country. While data on entrepreneurship is hard to come by, the following numbers are telling. According to the NSS 62nd round, in rural India, almost 50 per cent of all workers are self-employed 57 per cent among males and nearly 62 per cent among females, while the corresponding figures in urban India are 42 for males and 44 for females. The NSSO defines a self-employed person as one who has worked in household enterprises as own-account worker; worked in household enterprises as an employer or worked in household enterprises as helper. The essential feature of the self-employed is that they have autonomy (decide how, where and when to produce) and economic independence (in respect of choice of market, scale of operation and finance) for carrying out their operation. According to the 5th Economic Census conducted by the Central Statistical Organization (CSO), there are 41.83 million establishments in the country engaged in different economic activities other than crop production and plantation. Five states viz. Tamil Nadu (10.60 per cent), Maharashtra (10.10 per cent), West Bengal (10.05 per cent), Uttar Pradesh (9.61 per cent) and Andhra Pradesh (9.56 per cent) together account for about 50 percent of the total establishments in the country. The same five states also have the combined share of about 50 per cent of total employment.
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Issues in the Current Framework Finance: Access to credit is considered to be one of the key problems faced by entrepreneurs in India. This problem is particularly acute at the start-up stage, where bank finance is hard to obtain. Despite new sources of finance such as venture capital, angel funding and private equity becoming increasingly popular, institutional finance is still not able to meet the current entrepreneurial demands.

Regulation and governance: An entrepreneur has to deal with a host of regulatory and compliance issues. These include registering ones business, obtaining government clearances and licenses, paying taxes and complying with labour regulations. Cumbersome paperwork, long delays and red tapism involved in such transactions create unnecessary burdens for entrepreneurs, constraining their productivity and their ability to do business. As seen in the Doing Business 2008 rankings, India performs poorly in these indicators. A study investigating the effect of regulation on entrepreneurship using the GEM dataset shows India to be having one of the worst regulatory indices. Moreover, lack of clarity on information relating to legal and procedural aspects of starting an enterprise, as well as those relating to clearances, licenses and government schemes further aggravates the problem.

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Indias Ranking in Doing Business 2013 Topic Rankings Starting a Business Dealing with Construction Permits Getting Electricity Registering Property Getting Credit Protecting Investors Paying Taxes Trading Across Borders Enforcing Contracts Resolving Insolvency DB 2013 Rank DB 2012 Rank Change in Rank 173 169 -4 182 183 1 105 99 -6 94 97 3 23 23 No change 49 46 -3 152 149 -3 127 125 -2 184 184 No change 116 109 -7

(Source: Doing Business, World Bank, 2013)

Manpower: Availability of skilled manpower is another crucial issue for entrepreneurs. For example, in a survey of entrepreneurs conducted by KPMG and TiE in 2008, skilled manpower emerged as the second most important factor for fostering entrepreneurial growth. Further parameters reflecting labour market efficiency and flexibility are dismal. In the Global Competitiveness Index, India ranks 102nd in hiring and f ring practices and 85th in employing workers in the Doing Business 2008 report.

Infrastructure: Indias physical infrastructure roads, rail, ports, power, and telecom is also considered to be a bottleneck to the smooth operation of entrepreneurial activity. The high transport and supply chain costs that poor infrastructure entails can be affect competitiveness to a great extent, particularly for a small and medium enterprise. Enterprises surveyed in the Global Competitiveness Report 2007-08, rated inadequate infrastructure as the most problematic factor for doing business in India.

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Education: While the influence of education on entrepreneurship is considered debatable, Increasingly education is being seen as part of the larger ecosystem that impacts entrepreneurship and entrepreneurial motivations. Greater practical exposure, critical analysis, entrepreneurship curriculum, incubation and mentoring, industry-research linkages can help in fostering entrepreneurship.

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SCOPE OF ENTREPRENEURSHIP IN INDIA

In India there is a dearth of quality people in industry, which demands high level of entrepreneurship development programme throughout the country for the growth of Indian economy. The scope of entrepreneurship development in country like India is tremendous. Especially since there is widespread concern that the acceleration in GDP growth in the post reforms period has not been accompanied by a commensurate expansion in employment. Results of the 57th round of the National Sample Survey Organization (NSSO) show that unemployment figures in 2003-04 were as high as 8.9 million. Incidentally, one million more Indian joined the rank of the unemployed between 2005-06 & 2007-08. The rising unemployment rate (9.2% 2008 est.) in India has resulted in growing frustration among the youth. In addition there is always problem of underemployment. As a result, increasing the entrepreneurial activities in the country is the only solace. Incidentally, both the reports prepared by Planning Commission to generate employment opportunities for 10 crore people over the next ten years have strongly recommended self-employment as a way-out for teaming unemployed youth. We have all the requisite technical and knowledge base to take up the entrepreneurial challenge. The success of Indian entrepreneurs in Silicon Valley is evident as proof. The only thing that is lacking is confidence and mental preparation. We are more of a reactive kind of a people. We need to get out of this and become more proactive. What is more important than the skill and knowledge base is the courage to take the plunge. Our problem is we do not stretch ourselves.

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However, it is appreciative that the current generations of youth do not have hang-ups about the previous legacy and are willing to experiment. These are the people who will bring about entrepreneurship in India. At present, there are various organizations at the country level & state level offering support to entrepreneurs in various ways. The Govt. of India & various State Governments have been implementing various schemes & programmes aimed at nurturing entrepreneurship over last four decades. For example, MCED in Maharashtra provides systematic training, dissemination of the information & data regarding all aspects of entrepreneurship & conducting research in entrepreneurship. Then there are various Govt. sponsored scheme for the budding entrepreneurs. Recognizing the importance of the entrepreneur development in economic growth & employment generation, Maharashtra Economic Development Council (MEDC) has identified entrepreneurial development as the one of the focus area for Council activities two years ago. Various Chambers of Commerce & apex institutions have started organizing seminars & workshops to promote entrepreneurship. Incidentally, various management colleges have incorporated entrepreneurship as part of their curriculum. This is indeed a good development. This shows the commitment of the Govt. & the various organizations towards developing entrepreneurial qualities in the individuals.

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CONCLUSION

Today's promising market conditions have been very encouraging to many young engineering graduates who strongly believe that they have the technical knowledge and skills to attract new customers. These young Indian entrepreneurs are not the typical and conventional business entrepreneur. They are the children of many business professionals. As elite graduates of IITs, National Institutes of Technology, Indian Institute of Science, and the IIMs, this new young breed of worthy entrepreneurs have targeted their efforts on innovative ways to technologically address the genuine needs of millions of people. There are ample opportunities in small businesses in India and such opportunities will transform India in the coming future. For such transformation to happen there needs to be support both at the governmental and societal level. For the government it is important to realize that the goal of small business owners will be to remain self-employed. Such people may not need financial assistance but they will need marketing and legal assistance in order to sustain themselves. Practical and cost effective programs need to be developed to address their needs because self-employed people will represent an important segment in economic revitalization. Entrepreneurship development is the key factor to fight against unemployment, poverty and to prepare ourselves for globalization in order to achieve overall Indian economic-progress

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REFERENCES

1. http://www.articlesbase.com/entrepreneurship-articles/ 2. http://knowledgeportal.in 3. http://dobato.blogspot.com 4. http://www.thehindubusinessline.com 5. http://courseblog-entrepreneurship.blogspot.in 6. www.wikipedia.com 7. http://entrepreneurindia.in 8. http://blogs.economictimes.indiatimes.com

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