Challenges faced by Self-help Groups in taking up Entrepreneurship in Uttar Pradesh

Abstract

Entrepreneurship has always attracted the attention and interest of several individuals like economists, politicians, social reformers, businessmen etc. Entrepreneurs are considered a significant component of our society that has played a critical role in changing our country’s business and employment scenario. By adopting the process of entrepreneurship, entrepreneurs have contributed to the nation’s GDP by adding new products or services and making them available for consumption. In doing so they have to face several challenges that are related to wide range of issues. A successful entrepreneurial venture requires funds, resources, manpower, technical know-how, awareness, and knowledge about policies and processes. Earlier while thinking about entrepreneurs, only rich affluent businessmen have quick and easy access to funds and resources would come to mind, however microfinance initiatives by self-help group have taken entrepreneurship to rural areas, villages and small town. This paper intends to study and bring to various light challenges that SHGs face while taking up entrepreneurship in the state of Uttar Pradesh.