ENTREPRENEURSHIP DEVELOPMENT:
This is the deliberate end ever in human resource development which is usually undertaken by the state or community with the major aim of developing competence among participants to start, manage and develop enterprises.
BARRIERS TO ENTREPRENEURSHIP DEVELOPMENT
Barriers are factors that hinder the development of entrepreneurship. These can be at individual level, environmental levels and at a firm level.
MAJOR BARRIERS AT INDIVIDUAL LEVEL INCLUDE:
Poor entrepreneur skills: Most entrepreneurs and potential entrepreneurs are short of entrepreneur skills.
Lack of Business and technical skills: People require business skills in accounting and management skills to manage their business. Some ventures also require special technical skills to setup, manage and operate.
Low mobility and exposure: This offers the biggest revelation for new innovations and drive to entrepreneurship. However, many people do not travel a lot, do not read wisely enough and do not explore.
Lack of role models: For example; Uganda is seriously short of role models in the field of entrepreneurship which limits many people who're willing to aspire for a career in entrepreneurship.
Lack of business ethics: Many ventures have failed or have been compromised because of unethical behavior such as unpaid loans, unpaid employees, unpaid suppliers, tax evasion, corruption and many others
MAJOR BARRIERS AT ENVIRONMENTAL LEVEL INCLUDE:
- Political instability: This has dogged Uganda since independence. This state of affairs has robbed Uganda of many entrepreneurs. They have lost lifetime saving and business assets while some have closed due to instability
- Lack of access to finance: Banking system and practices in Uganda impose impossible demands for the entrepreneurs. Banks have little incentives to extend credited and therefore the terms of credit are unreasonable requiring difficult collateral and guarantees to ensure loans