This research paper is to analyse the awareness about the emerging perspective ofnew GST rates and changes in business loan rates on entrepreneurs and family business based in Mumbai. The purpose of study is to find out the level of awareness of change in Lending rates, implication of GST and its impact on the revenue. Several studies show impact of such changes in rates on job creation, productivity etc; To study the impact of such financial reforms on small family business or entrepreneurships we have collected primary data from respondents through a specific formed questionnaire. The data has been analysed through ANOVA and Chi Square. The study concludes that GST implication has impact on revenue of Entrepreneurs as well as family business.