A study on micro-entrepreneurs: Problems and prospects in post pandemic

Abstract

Entrepreneurship is the means of creating new and innovative concerns. People with unique and distinct knowledge can start an enterprise with the intention of earning and employment generation. In the era of inflation, it becoming very difficult to lead a life with ease. Since government cannot give employment to every single person in the society, it has facilitated the people with lots of financial and non-financial institutions from where they can borrow and start their own concerns. Now it has seen in the society also that people are working for themselves. Lots of micro-entrepreneurs are working in the society and serving the country and other people as well. It has a huge contribution in the economic development also. Everything was going smooth and lots of people were getting their employment also. But the covid situation cause the problem in the path of success of the micro-entrepreneurs. Pandemic situation created huge problem in the work culture of industries. With the help of this present set of research work researcher tends to find out the problems faced by the entrepreneurs due to pandemic. It was found that entrepreneurs failed to maintain their financial position as they had to pay their all the fixed costs like, instalments of loans, salary, electricity bills, etc. without having constant earnings. Despite of having regular work they had to take care of all their employees’ family also. As lots of people have lost their jobs, entrepreneurs also suffer from lots of consequences. After reviewing all the factors affecting the industry due to covid pandemic and analysing the situations researcher suggested that entrepreneurs should add more attractive factors and benefits in their products, so that they can attract more new customers towards their products. Also, they should change their mode of advertisement and marketing to reach their customers with more precisely.