JJEM: Special Edition 1 (December 2023)
JJEM: Special Edition 1 (December 2023)
2023-12-08
An Evaluation of Institutional Support for Entrepreneurship in Karnataka A Study
Eshwar S M
Entrepreneurship has been described as the competence and willingness to develop, organize and manage a business venture along with any of its risks in order to make a profit. While definitions of entrepreneurship naturally focus on the launching and running of businesses, due to the high amount of risks involved in launching a start-up. A major proportion of start-up businesses have to close due to lack of efficiency as it may be a handhold support from various institutions, bad business decisions, an economic crisis, lack of market demand-or a combination of all of these and this leads to discouraging small business enterprises. In recent era it is a well-known fact that one of the major components of any business is institutional support. The support may be related to business planning, funding, production and marketing etc. And when it comes to small business enterprises it is very difficult to get adequate institutional support as their size and the network of business is very small. As the result most of the entrepreneurs start their venture without having proper knowledge and support and eventually it end with closure of business within a span of time and which may discourage the young entrepreneurs who wish to start innovate with entrepreneurship. Therefore, the role of state government in developing small business entrepreneurship by providing them adequate institutional support is very essential and most required. In this context, the present study is aimed at evaluating the role of institutional support in the development of small business enterprises. The survey has been conducted for the sample small business entrepreneurs in Shimoga districts with a structured questionnaire to understand their need and also the credibility of existing institutions and their support for their ventures. Through the study it is found that lack of extension programmes and specific plans to the small business enterprises in the levels of business planning, production, marketing and other areas is the major problems and it suggested that more number of specific programmes pertains to small entrepreneurs and handhold support from institutions throughout the process will help to grow competitive business world.
Entrepreneurship, Business, Economy, Institution, Growth