ROLES OF ENTREPRENEURSHIP IN LIBRARIANSHIP: OPPORTUNITIES AND CHALLENGES

Abstract

In librarianship, entrepreneurship entails using cutting-edge methods to guarantee
sustainability, boost user satisfaction, and improve library services, and striking a balance.
The purpose of this paper titled "Roles of Entrepreneurship in Librarianship: Opportunities
and Challenges," was to provide a thorough understanding of the current situation
entrepreneurship plays in Librarianship and to pinpoint the chances and obstacles that stand
in the way of entrepreneurship in librarianship. This paper listed a few funding possibilities
for librarianship entrepreneurship, including retained earnings, angel investors, venture
capital, Initial Public Offerings (IPOs), personal savings, and crowdfunding. It examined the
functions that entrepreneurship performs in the field of librarianship, including problem-
solving and creativity, marketing and promotion, and locating new financing sources. It
highlighted a few of the benefits of becoming an entrepreneurial Librarian, including
resource management, community involvement, and innovation and technology integration.
Along with highlighting some of the challenges faced by entrepreneurial Librarians including
financial risk, business savvy, rivalry, work-life balance, marketing, and sales. It concluded
that, through its promotion of innovation, enhancement of services, and response to the
changing requirements of patrons, entrepreneurship would play a pivotal role in determining
the future of librarianship. Incorporating entrepreneurial ideas can result in innovative
problem-solving, improved user experiences, and long-term library expansion. It provided
way forward such as Curriculum Development and Education: Integration of
Entrepreneurship into LIS Curricula, Foster Entrepreneurial Mindset, Skill Development and
Capacity Building, Business Skills Training, Networking Opportunities, Service Development
and Innovation, Digital Product Development e.t.c