An essential source of innovation and economic expansion are first-generation entrepreneurs, or people who launch businesses without any prior family entrepreneurship experience. But their path is often fraught with certain challenges that are different from those faced by business owners with family business roots. This study looks at both the basic benefits of being a first-generation entrepreneur and the range of challenges that arise. The paper offers an extensive examination of the diverse lives of Bengaluru North’s first-generation company entrepreneurs. It attempts to assist people in overcoming their obstacles by identifying potential support systems, proposed policies, and focused initiatives. The study looks at what motivates first-generation business owners to launch their ventures, what obstacles they encounter, and what crucial element influences their growth. The study uses purposive sampling techniques to collect primary and secondary data from 150 entrepreneurs in an effort to improve their circumstances and boost the economy.

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A Study on the Entrepreneurial Drive and Obstacles Encountered by First-Generation Entrepreneurs

  • K. Uma Maheswari,
  • R. Deepa,
  • Padma Bhaskar,
  • M. Chandrakala,
  • N. Madhura

摘要

An essential source of innovation and economic expansion are first-generation entrepreneurs, or people who launch businesses without any prior family entrepreneurship experience. But their path is often fraught with certain challenges that are different from those faced by business owners with family business roots. This study looks at both the basic benefits of being a first-generation entrepreneur and the range of challenges that arise. The paper offers an extensive examination of the diverse lives of Bengaluru North’s first-generation company entrepreneurs. It attempts to assist people in overcoming their obstacles by identifying potential support systems, proposed policies, and focused initiatives. The study looks at what motivates first-generation business owners to launch their ventures, what obstacles they encounter, and what crucial element influences their growth. The study uses purposive sampling techniques to collect primary and secondary data from 150 entrepreneurs in an effort to improve their circumstances and boost the economy.