Small business firm with fewer than 10 employers or not at all other than the owner.
Published in Chapter:
Asian Entrepreneurship in Tourism and Hospitality: Financial Support, Business Sustainability
Yash Bhushan Prabhugaonkar (James Cook University, Singapore), Dam Xuan Minh (Royal Embassy of Saudi Arabia in Hanoi, Vietnam), K. Thirumaran (James Cook University, Singapore), Karen S. Sim (James Cook University, Singapore), Sapon Pruhtpahon (Independent Researcher, Thailand), and Mohit Raghav (World Lifestyle Pte. Ltd., India)
Copyright: © 2020
|Pages: 21
DOI: 10.4018/978-1-7998-3648-3.ch001
Abstract
Entrepreneurs in tourism constantly find business a challenge, especially when competing with well-established players in the industry who have huge capital and large market shares. More often than not, these entrepreneurs must constantly innovate and come up with new ideas on travel booking and new ways to enhance travel experiences. Focusing on entrepreneurs in Asia, very few countries proactively fund aspiring entrepreneurs who often struggle like their American counterparts with credit card debts and huge loans. This chapter reviews Asian entrepreneurs in tourism, with a focus on accessibility to state support and funds, identifying research areas for future studies. Using systematic literature review and country-specific profiling of India, Singapore, Thailand, and Vietnam, the study examines the extent governments support entrepreneurs and the sustainability of their business. This research is intended to trigger insights for both industry practitioners and policymakers and to form an awareness to create a sustainable environment for budding entrepreneurs in tourism.