This paper attempts to study the future prospects of the power loom entrepreneurs and visualize the problems faced by the power loom entrepreneurs in the Namakkal District of Tamil Nadu, thereby helping the entrepreneurs in the formulation of a Successful Business strategy. For this purpose, the Interview schedule was administered on the entrepreneurs. The data, collected through interviews, were analyzed, and the interpretations, plotted. Through the results obtained, the ways and means to overcome the problems are suggested. This is an ongoing study, which may be extended to the entrepreneurs of other sectors.

In this Modern world, the entrepreneur is an important input to economic development. It is necessary for the younger generation to understand that they should develop themselves as job providers rather than job seekers. The word ‘unemployment’ may be removed from the Indian dictionary by sowing the seeds of entrepreneurship in the minds of the youth.

The entrepreneur, being a catalyst to development, makes the nation and society prosper, and without this development, the nation (society and individuals) would have been less developed, poor. One’s interest in entrepreneurship essentially springs out of the interest in the economic development. The term economic development is equated with entrepreneurship development. Moreover entrepreneurship is an outcome of the fact that individuals have been developed and their ideas can be converted into action. The abundant resources of the country can be utilized by having more energetic entrepreneurs into the action.

Though there are many sectors available for entrepreneurship, the most important is the Industrial sector, especially the Small Scale Industry (SSI), which is increasingly attracting entrepreneurs. This is evident from the fact that by the end of 1999, there were upto 31.21 lakh registered SSI units; this steady increase of SSI units continues year by year.