Definition of Entrepreneurship

Lack of Business knowledge: Business knowledge of Entrepreneur runs the organization towards his goal or profit. But in our country maximum Entrepreneur has not idea about business knowledge. For this reason, organization cannot achieve its goal.

Lack of Education: Education is very important in respect of entrepreneurship. But in our country maximum entrepreneur are not highly educated. For this reason they face a lot o problems and they cannot solve their problem.

Public Awareness: Maximum people in our country they are not aware of Entrepreneurship. For this reason Entrepreneur are not interested set up a new business in our country.

Monopoly market: In or country we will know organization try to create a monopoly market.

For this reason new Entrepreneur cannot enter the market and cannot achieve his goal properly.

Lack of Decision Making: In our country maximum Entrepreneur doesn’t know how to take a correct decision because they have no idea about management accounting method and techniques. For this reason their organization faces a lot of or huge losses.

Lack of Training Facilities: For the development of Entrepreneurship the scope of training is must. But in Bangladesh the suitable course for Entrepreneurship development is rare.

Legal Constraints: In our country for formation of a new business, a lot of rules and regulation to be strictly maintained. For this reason many Entrepreneur don’t agree to set up a new business in our country.

Non-Institutional Barrier of Micro-entrepreneurship Development in Bangladesh: The magnitude of micro-entrepreneurial activities plays a decisive role in the economic development of the rural livelihoods, especially in third world countries. Micro-entrepreneurship has always been considered as a proven instrument to fight poverty in an effective manner. As a consequence, poverty alleviation through rural centric micro-entrepreneurship development has been focused for more than the last thirty five years in Bangladesh. However, despite such initiatives, the state of micro-entrepreneurship in Bangladesh has not yet reached to a satisfactory level.

There are a number of prevailing factors that thwart the development of micro-entrepreneurship in Bangladesh. Among all the factors, non-institutions encompassing various political, economic, social, cultural, technological, environmental and personal factors are affecting the scopes of operating these economic activities to a significant extent. This paper attempts to identify the key non-institutional barriers that hinder the development of micro-entrepreneurship in Bangladesh, and suggests a composite policy measure to overcome such encumbrances.

These are the barriers of Entrepreneurship development in Bangladesh.