Barriers to Entrepreneurship - September 9th, 2010 Barriers to Entrepreneurship Economic like capital, labor and raw material Non

economic like social, cultural (conformity, logic, social status) Traditional and practical values. Personal like sustained motivation, inability to dream Impatience, lack of clear perception Difficulty to deal with ambiguity and emotional (fear of failure). Role Governments can play: The policies that foster economic development through increased levels of entrepreneurship ar : Increase the market incentives for entrepreneurs. -To increase and improve the incentives for entrepreneurs. -Additional tax incentives . Improve the availability of credit and capital: -Resolve primary problem of lack of capital. -Encourage the development of venture capital companies and also implement micro-credit programs. Initiate entrepreneurship educational programs: New education initiatives. Reform market regulations to facilitate entry into the market: -Ease of entry into the formal sector. Many use licenses and permits to regulate and earn revenue or protect state-owned sector & they effectively make the markets inefficient (by limiting competition). Increase entrepreneurial opportunities available to women and young persons: Many women and young persons excluded because of cultural values or legal restrictions. The emergence of the entrepreneurial class Henry Ford was a 20th-century American example. The entrepreneurs functions and importance have declined with the growth of the corporation. Thomas Edison without a doubt, the greatest inventor of the modern era. Many of his over one thousand inventions have changed the lives of everyone in the world. Richard Arkwright in England and William Cockerill on the Continent of Europe were prominent examples of the rising class of entrepreneurial manufacturers during the Industrial Revolution.

Entrepreneur Invests, bears risks, Adopts innovation Intreptreneur Depends on entrepreneur, not fully bearing risks, works within the organization Ultrapreneur High technical skills, Sells products & processes at peak-Sabeer Bhatia (Hot mail to MicroSoft) Cyberpreneur Innovative skills, no competition, no investment, zero level risk, depends on outsourcing (Honda,Casio) Technopreneur The term "technopreneur" arose from within Singaporean culture to describe an individual whose entrepreneurial endeavors focus on a technologycentered enterprise.