Date Posted: 4/24/2013 9:59:19 AM
Posted By: saucer Membership Level: Gold Total Points: 4885
Entrepreneurial motivators.These are factors that make an entrepreneur want to start a business. They are classified into two types:1) Internal motivators2) External motivatorsInternal motivatorsThe entrepreneur may want to supplement his income. Extra money from aside business is good for the wallet. The entrepreneur is motivated.The entrepreneur may have desire improve living standards. Living in poverty may make one want to start a business. Necessity is the mother of inventions. The need for better living standards motivates.Owning a business gives one a feeling of status and prestige. The wealth generated may improve one’s image. Entrepreneur is motivated to start business for his pride.An entrepreneur may want to create employment. Starting a business will create opportunities. The entrepreneur is motivated by these factors.Having a business leads to a sense of independence. The entrepreneur doesn’t earn a fixed income, rather makes profit. He doesn’t work under anyone.An entrepreneur may have abilities like baking or wood carving. If he wishes to utilize his abilities to make a profit, he is motivated.External motivatorsOpportunities in the market will encourage entrepreneur to set up business. Availability of market means more profit. An entrepreneur is after profits and hence motivated.Good infrastructures like roads support business activities. They facilitate trade. With favorable conditions entrepreneur are encourage to set up.The availability of capital motivates an entrepreneur. Having money to start a business will encourage one to do so. Capital is a motivatorFavorable laws like tax holidays motivate business men to start business.Role models encourage upcoming entrepreneur to start a business.
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