Entrepreneurship has been considered as a catalyst for economic development, poverty alleviation and employment generation. It is also viewed as a vital mechanism for formation and growth of new firms and consequently, the creation of jobs and wealth. The present study tries to determine the skillrelated factors in Indian entrepreneurs with special reference to Jharkhand state due its poor entrepreneurial performance despite being a mineral-rich state. The study measures entrepreneurial success in terms of ‘business outlook’. A set of five dimensions, namely, leadership skills, communication skills, human relation skills, technical skills and inborn aptitude, is identified from prior research works and preliminary interviews with experts. A questionnaire survey is used to collect data for all five dimensions reflecting the degree of influence of these dimensions on entrepreneurial success in Jharkhand. Finally, a multiple regression analysis is carried out to examine the relationship between these five skill-related dimensions and entrepreneurial success.

A nation can aspire to become a developed one with a sound economy through a continuous supply of innovative, creative and enterprising people (Bhargava, 2007). In this regard, the entrepreneurial environment has a significant role to play where ideas or passions are transformed into business reality eventually leading to self-employed ventures. This provides solution to serious problems like poverty, illiteracy and unemployment. However, entrepreneurship requires the creation and maintenance of an environment that is conducive to growth of existing enterprises and would help build up a wider base of population capable of successful entrepreneurial behavior. The promotion of entrepreneurship has helped in creating job opportunities and fulfilling the basic needs at very low costs.

A small-scale business can be in the form of manufacturing, processing or service rendering industry, in which the general and functional management are in the hands of one, or at the most, two or three people who also make all the important decisions in that business (Udeh, 1990). In India, micro, small and medium enterprises contribute significantly to the economic growth of the country. The role of these enterprises in India is immense and is one of the most effective vehicles for sustainable livelihood, poverty alleviation and employment generation (Sinha and Sen, 2011). According to the Micro, Small and Medium Enterprise Development (MSMED) Act, 2006 of Government of India, an enterprise is categorized under micro enterprise if it has an investment in plant and machinery, excluding land and buildings, upto 25 lakh and 10 lakh for manufacturing and service rendering enterprises respectively.

Entrepreneurship Development Journal, Skill-Related Factors, Entrepreneurial Success, Micro, Small and Medium Enterprise (MSME), Micro, Small and Medium Enterprise Development (MSMED), Profit After Tax (PAT), Entrepreneurial Growth.