According to the U.S. 2004 Model BIT, “investment” means, “each benefit that a financial specialist claims or controls, legitimately or in a roundabout way, that has the qualities of a venture, including such attributes as the responsibility of capital or different assets, the desire for addition or benefit, or the suspicion of hazard”. ‘Business enterprise is implied the capacity of seeing speculation and generation openings, sorting out a venture to embrace another creation procedure, raising capital, enlisting work, orchestrating the supply of crude materials, finding a site and consolidating these elements of generation into a going concern, presenting new methods and choosing top directors for everyday activity’ (Higgins, 1966:88). “Business visionaries are known for going out on a limb. In any case, with regards to making individual ventures, they’re similarly as persistent as they are with their business accounts, cau-tiously adjusting danger and reward – and searching for circumstances where others are most certainly not”(Forbes, 2016).
Ongoing Agency of Work Measurements information demonstrates the quantity of independently employed individuals in the US developed to about 8,751,000 some-where in the range of 2014 and 2018. Current business enterprise patterns demonstrate an expanding measure of decent variety in the regions of sexual orientation, age, training, and ethnicity. Ladies, for instance, presently begin about 40% of every single new business, and that rate keeps on rising. In 2016, generally 40% of new business people recognized as African American, Latino, Asian, or other non-white. Around 30% of new business visionaries are original settlers.
In the past entrepreneurs were more focused in growing their business big as soon as possible. But now in present context, entrepreneurs are not only focused towards the profit and expansion of business but also are responsible towards the consumers and the environment. Future is most likely to offer “green entrepreneurs,” organization that have been based on eco-friendly model, give an eco-arranged item or administration.
According to Amanda bowman, “Numerous startup fantasies take steps to keep down even the best-intentioned business visionaries. The measurements don’t do much for certainty: 20 percent of new organizations flop in their first year, and just 50 percent make due through their fifth year. Despite those calming numbers, today, there are near 400 million business visionaries around the world. Numerous individuals hoping to begin a business delay since they don’t have the foggiest idea what it will take to begin”.
According to Economic survey of Nepal 2009, 21 offices were changed into NGO/Private Companies, and were established as Business Development Service Provider Organization in four districts (Siraha, Sarlahi, Saptari and Kapilvastu). Be-tween gatherings of micro entrepreneurs had been shaped at market focuses and relationship at locale level in all the 25 areas to serve the smaller scale business people in defending and advancing their rights and common advantages. The micro entrepreneurs in these regions were assistance through this institutional system. According to Nepal’s Department of industry FY 2017/18, based on the enrollments of the enlisted enterprises enrolled under Division of Industry, the offers of large, medium and small scale businesses are 13.3 percent, 22.2 percent and 64.2 percent individually by the initial eight months of the FY 2017/18. In like manner, based on their complete speculation, the offers of huge, medium and little scale enterprises is 85.8 percent, 9.3 per-cent and 4.9 percent individually. It is recommended that every industry in normal will utilize 77 individuals. About 2/3rd of industries are in Province No. 3 and the least number of industries is in Karnali Province. The most investment is in Province No. 3(i.e. Rs 58603.4 million) and least is in Province No. 7 (i.e. Rs 2643.3 million), as per the investment in industries. In view of the quantity of enterprises enlisted by the initial eight months of the current FY, the maker/creation segment is 38.9 percent. The administration situated ventures are 27.8 percent, the travel industry businesses possess 21.0 percent though remaining offer is of different ventures.
Entrepreneurs in today’s competitive world face many problems like cash flow man-agement, hiring employees, time management, delegating tasks, market strategies, choosing what to sell, capital, strapped budget, business growth, etc. “The new entre-preneurs face various challenges before and after entering the business i.e. Developing the Vision and Business Idea, Raising Capital for Startup, Assembling a Business Team, Finding the Right Business Location, Finding Good Employees, Finding Good Customers, Dealing with Competition, Unforeseen Business Challenges and Expenses, Keeping Up With Industrial Changes and Trends, Exiting the Business, Down in the Doldrums, Overestimating, Focus, Passion and Purpose”(Kanchana et al.,2013).
Several studies such as K.C.’s (2004), Khatiwada’s (2014), Choudhary and Patil’s (2015) have studied related to understanding of entrepreneur’s scope, role and condition in Nepal. K.C. (2004) focused to understand entrepreneurs in Nepal: an empirical study; Khatiwada (2014) studied Social Entrepreneurship as an approach to community development in Kathmandu; and choudhary and patil (2015) tried to understand Green entrepreneurships role of entrepreneurs in energy economics in Nepal . None of the research on preference of investment for entrepreneurs in Patan has been conducted. Therefore, this study aims to fill the gap and tries to attention of other re-searchers.
