Impact of Individual Factors on the Entrepreneurial Attitude towards Selecting a Source of Finance for Business

  • Narayana Maharana
  • Dr. Suman Kalyan Chaudhury
Keywords: Institutional Finance, Financial Support, Start-up, Ganjam Dist., Entrepreneurs


Financial Support and Availability of Credit are most vital elements for starting any venture. The flow of institutional finance to the MSME sector in the fast-growing economy of Ganjam district is a serious matter of concern for the development of start-ups. In this backdrop, a study is conducted in different cities of Ganjam district to find out how the institutional finance is being availed to the budding entrepreneurs and an attempt is being made to explore the issues and challenges encountered by the entrepreneurs of Ganjam district of Odisha for acquiring fund to start their business. Moreover, the study is also focused on the perception of the entrepreneurs towards institutional finance. This is a descriptive study which is carried out with 218 small and medium entrepreneurs by using a structured questionnaire in three main cities of Ganjam District. The samples are chosen using simple random sampling. The findings of the study suggest that higher education level and prior business experience of entrepreneurs play a favourable role in choosing institutional finance to meet the capital needs of their business compared to the entrepreneurs having a lower educational qualification and less or no prior business exposure. On the other hand, the gender of the respondents has no significant role in selecting a source of finance and both male and female entrepreneurs have an identical approach towards different sources of finance.