Entrepreneurship and Small Business Survival Techniques: The Indian Experience

Abstract

The paper reports on the role of Entrepreneurs in the development of small business survival techniques. It reports on the various ways which small business entrepreneurs help their businesses to survive in the midst of too many small businesses fighting for survival. The paper points out the survival techniques being used by the various entrepreneurs. The paper identifies the following survival techniques used by the entrepreneurs: assessment of the future prospects of an industry, capital build-up and capital adequacy, working capital management, total quality management, the effective use of the Balanced Scorecard Model and coaching. The data for this paper has been collected through observation, textbooks, journals and business analysis newspapers. The paper concludes by advising the entrepreneurs on business diversification and consultation.