Entrepreneurship in Nepal: Still a work in progress
Photo: Pexels/ Karolina Grabowska The last decade has seen a surge in the number of new ventures in Nepal. However, these growth figures do not tell the entire story of the development of entrepreneurship in Nepal. Many entrepreneurs agree that they had to fight many odds and an unfriendly environment just to keep their ventures afloat. When compared to the situation in many developed and developing countries, the Nepali business environment falls well behind on many parameters for supporting entrepreneurship. Nepal is ranked 94th on the list of ease for doing business (World Bank, 2021). Further, Nepal’s business registration procedure made starting a business more difficult by requiring in-person follow-up for employee registration for social security (World Bank, 2019). However, with access to technology, youth are still attracted to follow the path of entrepreneurship in Nepal and it is evident that the country has a lot of room for understanding the loopholes and taking act...