What Are the Challenges Faced by Entrepreneurs in Poverty-Stricken Areas?
Entrepreneurs in poverty-stricken areas face numerous challenges. Access to capital is one of the most significant obstacles, as traditional financial institutions are often reluctant to lend to individuals without collateral or credit history. Additionally, a lack of infrastructure can impede business operations, from unreliable electricity to poor transportation. Education and training are also critical issues, as many aspiring entrepreneurs lack the skills needed to succeed. Finally, social and cultural barriers, including discrimination and lack of support networks, can further hinder entrepreneurial efforts.