Assessing the Entrepreneurial Growth Potential for Value creation and Commercialization within Cottage industry of Swat
Abstract
The study aims to examine theobstacles, restraining the growth potential ofcottage industry in district Swat using the industrial organization view as a theoretical lens. Theobjective of the study was to unveil challenges confronted by cottage industry which hinder value creation and growth potential for commercialization. The study used an inductive qualitative research design with Grounded-theory approach as strategy of inquiry to analyze data collected from 20 cottage industry hi-touch or low- tech entrepreneurs by way of semi-structured interviews. The finding of this study indicates a low level of financial literacy, financial exclusion and awareness regarding online marketing and commercialization. Other than this, outdated manual production practices, financial exclusion such as lack of finances, minimal access to international markets, and capacity building were identified as central stumbling blocks in the face of growth of cottage industry. The study concludes the necessity of formal and informal training to understandfinancial risk management through acquisition of microfinance loans to ensure growth and sustainable value creation. The study recommends informal educational training regarding formal and informal sources of finances, and ways to promoteexport through born global startups to overcome growth obstacles for maximum value creation and commercialization. The study contributes by proposing a novel framework for cottage industry in study area and provides policyinsights aiming to elevate the entrepreneurial growth prospectswithin low-tech and high-touch industry to maximize value creation and commercialization.
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