Barriers to entrepreneurship

• lack of money due to high start up costs such as machinery overcome by taking out loans
• 1.Entrepreneurial capacity

  2.Access to finance

  3.Lack of training / knowhow

  4.Fear of failure

  5.lack of confidence
• Entrepreneurial capacity- •There is a growing awareness that entrepreneurial skills, knowledge and attitudes can be learned and in turn lead to the widespread development of entrepreneurial mind-sets and culture, which benefit individuals and society as a whole

  overcome this the entrepreneur will need to develop their businesses entrupinaral capacity
• access to finance-

  •Many entrepreneurs cannot start their business because off a lack of funding

  •They may not have savings themselves or family that they can ask to help

  •Many banks are not keen to lend to start-ups because of a lack of historical data of sales, making them a very risky investment, despite many government initiatives to make loans cheaper
• Lack of training / knowhow- •Many entrepreneurs lack training or know-how of just how to start a business

  •This can put off people who would like to start their own business, but are just not sure how to get started
• Fear of failure- •Many potential entrepreneurs do not start a business for fear of failing

  •It can be the failure itself or the cost of failure which may put potential business users off

  •Especially if they are giving up a regular salaried job to start out on their own, this is a risk

  can be overcome by communicating well with others and having a strong mindset
• Lack of confidence-•Many potential entrepreneurs lack the confidence to embark on a new adventure with their start up business

  •This can be a huge barrier to them becoming an entrepreneur

  •This can be overcome with training, information and marketing, when they are sure they have a product which will sell they may gain confidence