Impact Of Entrepreneurial Skills In Procuring Funds A Study With Special Reference To Small Scale Industry In Tamilnadu

Abstract

The study is all about the financial opportunities and challenges faced by small scale firms and the impact of these factors on the skills of the owners of the company in procuring funds. The study targeted the small scale firms (both manufacturing and service) in the metropolitan cities of Tamilnadu and the target respondents are the owners of those companies. It is observed that most of the small scale company owners have opted for external source of finance and that too they are getting funds mostly from banks. It is also observed that the middle aged entrepreneurs are highly opting for external source of funds mainly for the purpose of meeting their day to day financial requirements followed by acquiring of fixed assets and to clear their debts. These small scale firm owners are utilizing the support offered by Government in setting up their enterprise. However, they are facing with some of the challenges. Procurement of raw materials, sanction of loan by the financial institutions and the availability of training facility are the highly faced challenges by the small scale firm owners. newline newline newline newlineTwo methods of data collection were used in this study, Primary data collection and secondary data. Primary data is the collection of the data directly from the respondents. In this survey the primary data is collected from the Entrepreneurs running small scale units in Tamilnadu through the interview schedule/questionnaire as study instrument. Secondary data is collected through Statistical books, Books, journals, internet sources, magazines and News papers act as secondary data sources in this study. The total response was collected in Tamilnadu, with a sample of 538, in the category of entrepreneurs belongs to small scale firms in Tamilnadu and newline newline newline newlinetheir Skills in Procuring Funds for SMEs has been selected as the area of study. newline newline newlineThe study can be concluded by saying that the Government and the Ministry of MSME support contributes in a better way in enhancing the small scale company owner s skills in procuring funds. But s