As per the Indian constitution, all citizens of India are equal, irrespective of their caste, religion, race, and place of birth. Dalits have been at the bottom of the political, economic, and social ladder. Various governments have tried to improve the condition of Dalits with the help of reservations, but with very limited results. It was widely accepted that Dalits have raised their status in politics, but the same cannot be said about their economic and social status. Dalits are underrepresented when it comes to entrepreneurship or self-employment. When Dalits opt for entrepreneurship, they face problems related to caste and social status, in addition to general problems of entrepreneurship. Discrimination is a major problem faced by Dalits at each stage of business. Dalits face various other problems, like short credit period, shortage of labour, lack of networks, lack of support, stiff competition, and so on. The biggest prospect for Dalits is various government schemes specially designed for them. The present study aims to review the problems and prospects of Dalit entrepreneurs and ways to improve Dalit entrepreneurship in India.