PROBLEMS ENTREPRENEUR FACE IN ETHIOPIA

PROBLEMS ENTREPRENEUR FACE IN ETHIOPIA

PROBLEMS ENTREPRENEUR FACE IN ETHIOPIA

An entrepreneur is a risk-taker. He/she takes risk hoping for a profit in return. An entrepreneur is business creators. They create a business, they develop it, manage the business and organize it amidst the risk involved. Entrepreneurship is the art of creating that business chain and putting it in order. Entrepreneurship started in the early 1930s by a man named Joseph Schumpeter.  There are different types of entrepreneurship

  1. Ethical Entrepreneurship: This has to do with an entrepreneur belonging to a particular ethnic group. Other types of an entrepreneur include the cultural, institutional, feminist, mascent, project-based and millennial. Ethiopia according to the human development index is the 174th that low growth of development in terms of human and resources. Ethiopia has over the years grown its human development skill rate by 32% and has ensured to do more. As an entrepreneur, there is a word called SWOT. An entrepreneur encounters strength, weakness, opportunities and threat. The entrepreneur has to face all the four steps at a stage in their business. The strength and opportunities come hand in hand this is due to the fact that we see any opportunity as a strength and drive to more and to work harder. The weakness and threats come as a failure in the business or proposed project, the failures begin to weaken us and threaten the entrepreneurship skill in us. At every stage in an entrepreneurial life, you must have encountered either of the above-mentioned steps.

In Ethiopia entrepreneurs face challenges and problems on a daily basis, so here are some problems that they face:

  1. Lack of Capital: The need for survival and fight to make amongst the youth either through agriculture and through entrepreneur is even starting up a small business. Every business takes capital to start it up. There is no one to offer such help to them and severe poverty. A person struggling to eat one square meal in a day can hardly raise enough fund to start up a business and most times, even when money saved, another problem arises.
  2. Lack of entrepreneurial skill: There are some many entrepreneurial schools willing to each and many Ethiopians willing to learn but they lack the funds to learn the skills. There are little or no teaching aids or facilities to help put the zeal and grow the passion and talent. Other challenges include: constraints caused by the socio-economic factors, skilled workforce is missing as well and the lack of business marketing and promotion aid.
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