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1. Economic Factors
2. Non Economic Factors
1. ECONOMIC FACTORS
i. Social Factors
a. Emotional Block- Entrepreneurship involves risks,
besides financial risks, it involves emotional risk.
b. Cultural valves- cultural values prevent persons from
setting -up their own ventures in non-entrepreneurial
societies.
c. Regulatory factors and defective administrative – Entry
regulations to market, defined registration requirement,
reporting and disclosure norms act as barrier.
d. Defective Tax Structure – High level of taxes tends to
distort economic activity and reduces profit margin.
ii. Personal factors
a. Difficulty and ambiguity- some people are very
compulsive and become upset if the order of their physical
life is violated.
b. Impatience in solving problems- Finding quick solutions
to problems prevents people from setting-up the enterprise
thus acts as a barrier to entrepreneurship.
UNIT-II
MOTIVATION
MOTIVES INFLUENCING AN ENTREPRENEUR
The factors motivating entrepreneurs are classified
into internal and external factors
INTERNAL FACTORS
1. Desire to do something new
2. Become independent
3. Achieve what one want 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
1. Government assistance and support
2. Availability of labour and raw materials
3. Encouragement from big business houses
4. Promising demand for the product
Entrepreneurs are also motivated to start business
enterprises due to the following factors
1. Ambitious factors
2. Compelling factors
3. Facilitating factors