Factors Motivating Entrepreneurs PDF

Factors Motivate Entrepreneurs Let us address to the larger question what factors motivate entrepreneurs to start enterprises. Many researchers have tried to understand and answer this question by conducting research studies to identify the factors that motivate people to take all the risk and star...

Factors Motivate Entrepreneurs Let us address to the larger question what factors motivate entrepreneurs to start enterprises. Many researchers have tried to understand and answer this question by conducting research studies to identify the factors that motivate people to take all the risk and start a business enterprise While some researchers have classified the factors motivating entrepreneurs into ‘push’ (compulsion) and ‘pull’ (choice) factors, most of the researchers have classified all the factors motivating entrepreneurs into internal and external factors as follows: Internal Factors: These include the following factors: 1. Desire to do something new. 2. Become independent. 3. Achieve what one wants to have in life. 4. Be recognized for one’s contribution. 5. One’s educational background. 6. One’s occupational background and experience in the relevant field. External Factors: These include: 1. Government assistance and support. 2. Availability of labour and raw material. 3. Encouragement from big business houses. 4. Promising demand for the product. 5. Ambitious factors. (Greatly desirous) 6. Compelling factors. (As to force or push toward a course of action) 7 Facilitating factors.