A Study on Factors Affecting the Success of Entrepreneurship with Reference to Coimbatore District

Abstract

Once called the South Indian Manchester and known for its engineering and small scale industries, Coimbatore slowly over the period has been losing its industrial presence which leads the researcher to look into the ability factors of the entrepreneurial success and failure in the small and medium scale manufacturing industries. The population of the study constituted firms under the associations like SIDCO (Small Industry Development Corporation) and CODISSIA (Coimbatore District Small Industries Association). A convenient sampling of 100 firms with a minimum lifespan of 5 years was taken into account. A questionnaire with 10 factors and about 131 variables was used direct interview method was followed. The content validity was done by the entrepreneurs. 10 null hypotheses were tested using Mann Whitney U test for significance. The findings revealed that value creation, innovation, capital control, thorough knowledge of business, personal positive traits leads to the success of entrepreneurship whereas fear of failure, poor money management, lack of focus, lack of vision, doing it all by self leads to the failure of an entrepreneurship. Cross tabulation and chi-square test for dependency were also done with the company profile factors like age of the firm, number of employees, capital of the firm, education of the managing director, type of the firm with that of the above success and failure factors findings revealed that longer term, engineer or MBA with higher capital and private or public ltd and proprietorship firms have seen success by following the above mentioned success factors.

Keywords: Entrepreneurship, Success, Failure

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