A Study On Problems And Prospects Of Rig Entrepreneurs With Special Reference To Namakkal District

Abstract

Entrepreneurs need to face numerous challenges on the road to success, especially with reference to access to finance. All entrepreneurs will at some point feel overwhelmed with the various responsibilities that fall on their shoulders. The general challenges faced by entrepreneurs are over anticipating success, mislaid purpose, negative mindset, poor association, employee motivation and lack of support. The rig count may be a key pointer of the power sector's contribution to economic development; venture in mining, exploration, and shafts provide for into GDP, and intimately track the rig count. Morgan Stanley analysts nailed their forecast that the rig count would turn positive about 26 weeks from when drillers decided to require equipment offline. Their research, published in April 2019, showed that's roughly how long a turnaround took in the last four major rig count plunges. Rig industry contributes for economic development for our nation. The present study deals with the problems and prospects of Rig entrepreneurs. The study covers Namakkal district only. The study will enable the researcher to bring suggestions and conclusion for the study. The study also confines with perception of Rig entrepreneurs in their business. The primary objective of this study is to research the problems and prospects of Rig entrepreneurs. Hence it is descriptive in nature. For the purpose of the study, the researcher applied convenient sampling in selecting the Rig entrepreneurs in Namakkal district and thus primary data is collected through structured questionnaire from the sample of 100 respondents. The primary data thus collected were analyzed using percentage analysis. From the study it can conclude that, majority of the respondents reveals that they are facing financial problems and marketing problems to run the business, they are facing delay in bills for their receipts and payments. Even they are facing risks in their business, finance support must be provided by the State and Central Governments since they contribute GDP for the nation. Government should focus on to improve the policies, schemes, programs and financial support towards rig entrepreneurs.