A Study of Skill-Related Factors Affecting Entrepreneurial Success in India

Entrepreneurship has been considered as a catalyst for economic development, poverty alleviation and employment generation. It is also viewed as a vital mechanism for formation and growth of new firms and consequently, the creation of jobs and wealth. The present study tries to determine the skill-related factors in Indian entrepreneurs with special reference to Jharkhand state due its poor entrepreneurial performance despite being a mineral-rich state. The study measures entrepreneurial success in terms of 'business outlook'. A set of five dimensions, namely, leadership skills, communication skills, human relation skills, technical skills and inborn aptitude, is identified from prior research works and preliminary interviews with experts. A questionnaire survey is used to collect data for all five dimensions reflecting the degree of influence of these dimensions on entrepreneurial success in Jharkhand. Finally, a multiple regression analysis is carried out to examine the relationship between these five skill-related dimensions and entrepreneurial success