Factor influencing Entrepreneurship

 There are many factors influences Entrepreneurship development. These factors are as below-

1.Personal factor- It is the first factor that influences the development of entrepreneurship. Every person has need, desire, want and so on.If any person has want to become an entrepreneur they can face all problems, challenges in the path of entrepreneurship and become a successful  entrepreneur whereas if persons have no want to become entrepreneurs they may get other positive things but may not become entrepreneurs so we can say that it is the first and very important factor that influences the development of entrepreneurship.

2.Social factor- It is the second factor that influences the development of entrepreneurship. Every person has a social environment. There are many customs, traditions, cultural,civilisations, norms, values and ethics of society. If all these things are positive the growth of entrepreneurship is fast in such type of society whereas if all these things are negative the development of entrepreneurship os very low in such type of society.

3. Economic factor- It is also most important factor that influences the development of entrepreneurship. There are many factors of economic development. These factors are capital, labour,raw material, market and so on. If all these things are present in huge quantity and easily available the growth of entrepreneurship is fast whereas if these things are in less quantity in country the growth of entrepreneurship is low because people have to do hard labour to arrange all these things.

4. Psychological factor- It is also an important factor that influences the development of entrepreneurship.Every person has an internal drive to get achievement. If people have high internal drive to get achievement they can face all problems, challenges properly and become entrepreneurs whereas they have less internal drive they feel happy to work for other and may not become entrepreneurs.

5.Governmental factor- Every country is ruled by government. Every government lakes policy, rules, regulation, law for the development of people and country. If all these things are positive and progressive the growth of entrepreneurship is fast in such concern country whereas if all these things are not favourable for entrepreneurs the growth of entrepreneurs is low in such concern country.

So we can say that all these factors influence the emergence of entrepreneurship by positive or negative way inside any country of world.

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