TOPIC

Factors that have led to the success and failure of Entrepreneurship and development of
Zimbabwe.

INTRODUCTION

The role of the entrepreneur in the economic growth has long been acknowledy.Enterpreneurs
are characterised as individuals endowed with an innovative drive,a high need to achievement
or an internal locus of control.Entreprenuership involve many areas such as innovations,risk
taking,ability to complete in an ever increasing competitive global markets,ability to
learn,delegate,trust and empower workers among other areas.

INCOME DISATISFACTION

People are turning into becoming entrepreneurs because of the money they earn from a company
or organisation is little they are now seeing the need of becoming more independent to be their
own boss so this led to the success of entrepreneurship because they think of new ideas or new
ways to make money without waiting for the monthend.It involves risk and since
entrepreneurship is all about taking risk andbeing pro-active.It has seen many people warming up
to the concept of starting their own businesses.Being able to offer something new unique which
has value and will benefit consumers.People want to earn more money plus long working hours
have been an advantage in the sense that people are no longer a fraud to take risks they are
willing to innovate and create new prospectson starting a business.

SOCIALISATION

Socialisation has an influence on the entrepreneur`s personality and the main socialising agents
in the personality or character of an entrepreneur are family,the school and the organization
previously worked for or with.An entrepreneur`s personality is not in itself and sufficient
condition for the initiation and successful operation of a business venture.The influence of the
ability to socialize has played a crucial role and as such ideas are exchanged in the the betterment
of entrepreneurship and development of our country Zimbabwe.This behavior is associated with
self reliance,risk taking,innovation and individualism.The characteristics of an individual
entrepreneur,entrepreneurial success depends on the social,legal and political factors in the
environment in the entrepreneurial activity takes places.The of family in the development of an
entrepreneurial personality is stronger where there is a family tradition of business.

THE NEED TO BE INDEPENDENT

One may feel the need to take up a new challenge due to many factors like the need to earn more
money to be self dependentand the need to implement ideas that may change the landscape of the
markets.In Zimbabwe being an employee only does not pay the bills so people are now resorting
to start alternative businesses inorder to survive and provide a unique distinctiveness to service
production.Being independent creates room for innovativeness and creativeness.And the process
of growth and success because they are driven to succeed they now focus on their businesses
solely thus undivided attention.Along with being independent comes along with desire to do
something new and different because in Zimbabwe are not content with the way things are being
and with the stale economy and in turn people now have to think outside the box to obtain better
ways to generate income and also achieving customer satisfaction.

LACK OF CAPITAL

Lack of capital have more profound effect on a business startupEntrepreneurs face a huge
challenge in obtaining finance and this is astumbling block in development of Zimbabwe and
entrepreneurship.Capital is the main pivot needed to move a business venture forward and the
lack of capital is hindering the growth of entrepreneurship and entrepreneurs are demotivated
and remain small.thy operate with a mindset of smallness and since the economy of Zimbabwe is
crumbling for entrepreneurs to obtain start up and getting someone who is going to finance start
up process is extremely difficult and some entrepreneurs who foul to obtain capital give up on
innovativeness,creativeness and new ideas thus derails the production of goods and services for
the market and if more entrepreneurs give up on a daily basis this drives the nation`s
development backwards.

ECONOMIC FACTOR

Economic factors is used to impinging upon the operations of a business other than the
availability of capital and the ability of the entrepreneur.The factors include inadequate
infrastructure development,high rates of taxation ,availability and appropriateness of
technology,level of product demand and availability of adequate an reliable sources of
supplies.Some entrepreneurs rent premises for their businesses they are charged at higher price
for the rent so this slows the development of the business.Entrepreneurs fail to purchase their
own premises because of the economy there is no money.Every profit they make is eroded by
high rentals and high taxation.The need for the provision of affordable work is important aspect
in the drive towards economic indigenisation.It is the authority`s responsibility to satisfy this
need facilities but because of financial resources,this has led to the overcrowding of the few
facilities that have been put up and the illegal use of residential properties for business
purposes.The economic behind the very high rentals charged by property owners is that scarcity
pushes prices up also developers might need a reasonable return for their capital in the face of
high interest rates.

COMPETITION

Competition endangers the success and development of entrepreneurs in Zimbabwe because

entrepreneurs do not have the necessary means to tackle competitions and survive them in the
markets.Entrepreneurs have limited skill on how to cope with competition in most cases
entrepreneurs try to keep up with competition sometimes changing their products or services
delivery .Entrepreneurs can not tackle competition because of the lack of capital to improve their
products or services.The dominance of markets is reduced due to stiff competition and
entrepreneurs that can not strive and mountain a focus on providing the same service or product
and the problem they face is that they do not research or anticipate competitive products or
services taking charge and this kills entrepreneurs die down and the death of entrepreneurs
suddenly takes place.

NOT KEEPNG FINANCIAL RECORDS

Due to the challenges faced by the entrepreneurs not keeping financial records has lead to the
failure of entrepreneurship and the development of Zimbabwe.Some entrepreneur face
challenges almost on a daily basis because they do not keep the financial records which helps
and guide on the progressing of the business.Most entrepreneurs drown in debt just to finance
their business and stay a flout they borrow money from their friends,relatives,banks and other
informal places like shark loaners just to boost or resuscitate their businesses.This leads to them
reducing prices for their goods to try and raise money to pay off their debts and by doing so it
results in losses and break downs.Some prefer to consume their stock to be known as stuff in the
street rather than to throw it away when it roles.Such challenges of not keeping financial records
results in them not saving the opportunity to invest profits never comes by.They are now
restricted to smallness and their main agenda now is to only survive and be content with their
current situations and as a result they remain stagnant and grounded without any opportunities to
make them fully realise their potential and goals such a lifestyle leads to stress and other health
complications seeing that progress is not coming by.

CONCLUSION

The success of the entrepreneurs in any given society depends to a great extent on the
environment in which the entrepreneurship function is being done.Some entrepreneurs have
given up because of the failures they could not overcome them and some entrepreneurs managed
to overcome these failures and their businesses managed to succeed and they are running,this led
to the raising of entrepreneurship and the development of the country.

REFERENCES

Maphosa F (1997)The Role of Kinship in Indigenous Businesses in Zimbabwe

Murray E (2014)Entrepreneurship In Zimbabwe

http//www.entrepreneur.com

www.leeds.com