The major problems faced by rural entrepreneurs are:

A. Rate of interest charged by commercial banks is too high
B. Inability to market their products and services
C. Lack of comprehensive training on required skills
D. Inability to handle cultural issues
E. Difficulty in opening bank accounts due to lack of documents

Choose the correct answer from the options given below:

Correct option is C

Introduction:

​Rural entrepreneurs often face challenges related to their capacity and market access. The two major problems are:

• B. Inability to market their products and services: Limited access to markets and poor marketing skills restrict rural entrepreneurs from expanding their business.

• C. Lack of comprehensive training on required skills: Many rural entrepreneurs lack formal training in essential entrepreneurial skills such as financial management, production techniques, and marketing.

While A (high interest rates) and E (difficulty opening bank accounts) are financial challenges, government schemes and microfinance institutions have somewhat alleviated these issues.
D (inability to handle cultural issues) is less a direct problem faced by rural entrepreneurs themselves and more related to external socio-cultural factors.

Information Booster:

• Marketing challenges stem from poor infrastructure, limited connectivity, and lack of knowledge of modern marketing techniques.

• Training is essential for skill development, innovation, and adapting to changing market demands.

• Many rural entrepreneurs rely on traditional methods, so skill enhancement can significantly improve productivity and sustainability.

• Access to formal finance has improved but still remains a challenge in some remote areas.

  Additional Knowledge:
  

• A (High interest rates): Though still a concern, government programs and financial inclusion efforts have reduced this issue for many rural entrepreneurs.
• D (Cultural issues): Cultural factors may affect business practices but are not a primary problem limiting entrepreneurship.
• E (Difficulty opening bank accounts): Financial inclusion drives have improved access, reducing this problem significantly.