Question

What are the barriers faced by an individual in becoming an effective entrepreneur?

Answer 1

Some common barriers faced by individuals in becoming effective entrepreneurs include:
Lack of Capital: Difficulty in securing adequate funds to start or expand the business.
Lack of Education or Skills: Insufficient knowledge of business management or technical skills.
Fear of Failure: Psychological barrier causing hesitation or avoidance of risk-taking.
Lack of Support: Absence of mentoring, guidance, or encouragement from family, society, or institutions.
Market Competition: Intense competition making it difficult to establish a foothold.
Legal and Regulatory Barriers: Complex procedures, taxes, and licensing requirements.