Literature review on challenges and factors affecting cultural entrepreneurship

Abstract

Cultural entrepreneurship is important for the economic progress and expansion of the developing country. The research objective is to focus on several challenges of cultural entrepreneurs and factors which affects cultural entrepreneurship. The study is literature review based. The finding of the study is that in cultural entrepreneurship biggest challenge is to understand the cultural artisans and there are factors like finance, demographic level, entrepreneurial talent, perception, acceptance of social media, entrepreneurial networking, trained skilled personnel, knowledge, local content, personality, innovation and creativity which affects the growth of cultural entrepreneurship. Study concludes that success of cultural entrepreneurs is dependent on artisans. Artisans should be trained and educated also. Cultural entrepreneurs and cultural artists are different from each other but both contributes in protecting culture through entrepreneurship.