The Efficacy of Economic Goals on Sustainable Entrepreneurship in India

Abstract

The emergence of Small and Medium Entrepreneurs and their valuable involvement towards economy is now noticeable and observed in India and its advantage can also be visible. The living standard of the families gets improved in terms of their health, better fed, their income and savings and so on (Deikun, 2006). Extensively, it is assumed that entrepreneurship benefits and boosts growth and expansion of economy for in turn develop the nation as a whole. The concept of entrepreneurship has been astonishingly revival from the very earlier period in many countries that significantly achieved decrement in a dearth (Naude, 2013). The economics’ perception recognized that an entrepreneurship-focused the growth plus development of economic profits for the individual and/ or the society. These economic profits are referred as essential development goals. The aim of this paper is to study the relationship between economic goals and sustainable entrepreneurship and also to analyze its impact. The paper determined the attributes of ‘economic goals’ that has an impact on the development of sustainable entrepreneurship. The sum of 500 SMEs from the selected districts of Uttarakhand (one of the states in India) was inspected. It was found that the attributes extracted from ‘economic goals’ (Employee welfare, Economic growth, Performance and business stability) were positively correlated with sustainable entrepreneurship. It also concluded that three attributes have a favorable impact on sustainable entrepreneurship except ‘employee welfare’ has an unfavorable impact.

Keywords: Entrepreneurship, Sustainable Entrepreneurship, Economic goals, Small and Medium Enterprises, Uttarakhand

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