Importance of Entrepreneurial Networks on Business Performance in Developing Countries: A case study of India
DOI:
https://doi.org/10.53819/81018102t5255Abstract
Entrepreneurial networks play a pivotal role in enhancing business performance in developing countries. The study sought to investigate the importance of entrepreneurial networks on business performance in developing countries: A case study of India. These networks offer vital access to capital, knowledge sharing, and market insights, addressing challenges faced by startups and small businesses in resource-constrained environments. Additionally, they foster collaboration, partnerships, and provide advocacy, leveling the playing field for smaller enterprises. The collective impact of these network-driven advantages can drive economic growth and development, making entrepreneurial networks a cornerstone of success in developing countries. Findings from the case study in India highlight the significant role of entrepreneurial networks in alleviating capital constraints for businesses, enabling them to secure funding and drive growth. These networks foster knowledge sharing, helping businesses adapt to the dynamic market by exchanging experiences and best practices. Moreover, they provide essential market insights, allowing businesses to tailor their offerings to cater to the diverse regional preferences in India, ultimately improving their business performance. In conclusion, the case study in India underscores the pivotal role of entrepreneurial networks in driving business performance in developing countries. These networks offer access to capital, facilitate knowledge sharing, and provide market insights, addressing key challenges faced by businesses. Their collective impact contributes to economic growth and development, making them essential components in fostering entrepreneurship and prosperity in developing nations. It is recommended that policymakers and stakeholders focus on creating an enabling environment for network formation and strengthening. This includes measures to promote entrepreneurship education, simplify access to capital, and foster regional collaboration to expand market opportunities for businesses.
Keywords: Entrepreneurial Networks, Business Performance, Developing Countries, India
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