By Jashmin Tandukar

Entrepreneurs are the people who have passion and energy towards the creation and implementation of new ideas and creative solutions. They are willing to take calculated risks in terms of time, money, career, and more. Entrepreneurship can be defined by three elements; innovation, creativity, and risk-bearing readiness. It is not necessary that the venture or the product or services should be new, but the entrepreneur should add some value to it from his skills or idea so that the output will exceed the cost of the input factors.

Nepal is a developing country in which more than 32 percent of population lies below the poverty line. The growth rate of Nepal is very slow and the unemployment rate is very high. Therefore, entrepreneurs could assist to generate employment opportunities, to raise income and to reduce the poverty. In countries like Nepal, an entrepreneur has to play multi-dimensional roles as the promoter, the investor, and the manager. However, they hesitate to take initiatives for investing in new ventures due to various reasons like political instability, lack of financial support, low return on investment, lack of education, training and experience, and unfavorable policies. Entrepreneurs try to start a new business, but the difficulties and problems that they face while starting it can make them frustrated. This, in turn, makes their confidence level go down and their passion for work will fade. Though they may have a good business plan or idea, due to the lack of support from the family, government, or the environment, they cannot continue with their plan. Instead they actually channel their resources on nationally unproductive sectors like acquisition of land, amassing of gold and silver, construction of buildings, luxurious imports, and other speculative motives. In this kind of situation people build up the attitude to become rich overnight and invest in unproductive sectors.

Nepalese entrepreneurs have been facing many barriers in the way of creating new ventures and smoothly operating existing ones. The lack of sufficient capital and improper mobilization of limited resources has caused the slow pace of industrialization. In order to motivate the entrepreneurs, there needs to be an investment-friendly climate, easy access to finance, favorable government policies, and good education and training.