A Study on the Attitude of Millennial Entrepreneurs and the Major Resistance that Stands between Them and Success

Abstract

Our world is in an economic crisis where we are in a stage of finding light to this dark position. Likewise in today’s business world lacks in employment opportunities and it has reached a stage where it cannot provide much employment opportunities to the millennial and Gen Z. There exists a scope for entrepreneurship. According to Schumpeter, entrepreneur is a person who looks for change, answers it and uses the opportunity; It is very much essential to find out what mindsets an entrepreneur carries and what are the major barriers they face in order to become successful. This million dollar answer will help lot of youngsters in becoming job seekers to job provider. This study is attempted to find out the barriers and the mindset of millennial entrepreneurs. In order to find the skills, mindsets, and barriers of entrepreneurs, this study access this information’s from STARTUP India web portal. STARTUP India is a flagship initiative by the Indian government which helps entrepreneurs from idea generation to starting their own ventures. Now nearly 159000+ startups have been registered in STARTUP INDIA website covering different fields like agriculture, construction, manufacturing, aerospace, advertising, animation and implementing the like. This study survey was carried out from the STARTUP INDIA registered entrepreneurs. The novelty of this study is information’s are gathered from startup entrepreneurs in India who belongs to different domains. On going through previous research studies, the authors found that 18 skills that are vital for entrepreneurial success and is taken along with 17 major barriers they face in starting up their venture were taken. The Smart PLS tool is used to find out the important skill and the major problem that influence the entrepreneurs the most. The research result gives new insights for researchers among the millennial entrepreneurs. Further, the authors also added their suggested solution for their barriers. Along with this the influence of STARTUP India initiative in entrepreneur’s success were also studied.