Paper Details

Name: Amrit Kaur & Rupali Jain
Country: India

Year: 2018
Volume: Volume-5, Issue-2 (July-December)
Page Number: 9-20

I. INTRODUCTION
The world is rapidly changing and the entire change and development of civilization is the result of trade, commerce and industrialization. In this development the human resource in general and entrepreneur in particular plays an important role. Entrepreneurship is the creative activity that includes identifying opportunities in the market, gathering all the necessary resources required to carry out these opportunities. An entrepreneur plays a vital
role in the development of the economy as it creates job opportunities, reduces financial burden and provides competition. In the words of Joseph Schumpeter “The rate of economic growth of nation depends upon the rate of innovation and technical progress. The rate of technical progress and innovation inturn depends upon the supply of entrepreneurs in the economy.”
Whenever there is some opportunity in the market these entrepreneurs find solution for it but to implement it in practical sense there is need of huge resources. Though these entrepreneurs are the engine for economic growth, even then they face financial crises. The major problem that they face while gathering resources is lack of availability of finance on easy financial terms. This problem becomes major obstacle especially for social entrepreneurs.