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Explain five factors that may promote entrepreneurship in Kenya.

Explain five factors that may promote entrepreneurship in Kenya.

Answers

gregory
? Government support/ favourable government policies/ funding regulation (of
business activities) may encourage the emergence expansion of business
venture.
? Training/ in education entrepreneurship/ trainees are equipped with skills/
knowledge to undertake entrepreneurial activities to start businesses.
? Entrepreneurial culture/ cultural practices that encourage entrepreneurship
through early exposure to business activities opportunities/ positive attitude
towards business.
? Presence of role model interaction with successful business people who may
inspire/ create interest in entrepreneurship/ business ownership.
? Availability of capital/ loans/ credit facilities for start expanding a business
(may facilitate entrepreneurship).
? Political stability/ non political interference that creates a confused
environment for starting/ running expanding business.
? Availability of market/ market information.
? Availability of security- that ensure safety of businesses/ property/ business
owners.
? Healthy/ fair competition that business owners can withstand/be safe with.
? Good government that ensures accountability in conducting business
activities.
? Availability of technology that can lead to the production of desired quality/
quantity of goods/services.
? Employment creation for self/ others.
? Independence/ needs to earn an income/ livelihood.

OR

Development of a positive culture that values individuals who are successful entrepreneurs,recognizes and holds them highly.

Relevant education curriculum - The training in business is made part of the curriculum hence preparing the youth at an early age to become entrepreneurs.

Presence of role models - Successful businessmen are an encouragement and a motivation to the youth and would-be entrepreneurs to also go into business.

Government support - Policies passed by the government that put in place institutions that support entrepreneurship like the youth fund.

Diminishing jobs in the formal sector - Since formal employment is becoming difficult to secure, entrepreneurship becomes the only viable alternative.

Availability of finances - The financial institutions support businesses and provide loans to the entrepreneurs hence supporting the growth of entrepreneurship.

Positive peer influence - When people see their peers succeeding in business, they get motivated and also try their hands at it.

Availability of security that ensures the safety of business owners/property.

Availability of market - Ready market where they can sell their produce is a motivating factor to venture into business.

Good infrastructure - This facilitates the conduct of business, access to markets, raw materials and movement of factor inputs.
gregorymasila answered the question on January 26, 2018 at 06:47

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