Home Entrepreneurship variable determining growth of entrepreneurship

variable determining growth of entrepreneurship


Entrepreneurship is the outcome of the interaction between several social, demographic, economic and political variables (fabio, Richard & Stefano, 2014). These variables are explained as follows:

Family background

People belonging to merchantile families and community can more easily enter industry. For example, children in tswata Mukun, Dokondza and Masaga Areas of Bida in Niger state are brought up in an environment which develops in them entrepreneurial quality and skills at an early age.

Personal Characteristics

Personality and personal skills act as a critical factor in self_development and growth of the organization. Young person tend to be more optimistic in facing the challenges of life. Being exposed to latest developments in science and technology, they are expected to be more innovative.

Education provides these and thereby improves the competitive strength personal experience also contributes to efficieincy in entrepreneurship. Such experience is very important to small scale entrepreneurs who have to perform most of the functions themselves. Past experience reduces dependence on hired employees and provides an edge over un_experience people.


Economic factors

Since entrepreneurship is essentially the promotion of economic change, The same factors that promote economic growth and development account for the emergence of Entrepreneurship. Market incentives, available capital, financial institutions that provide capital to entrepreneururial projects, etc, help promote entrepreneurship.

Socio_cultural factors

In states like Lagos states, entreprene

urs and entrepreneurial behavior enjoy a legitimacy they do not have in Zamfara state :Economic, Religious ideologies and protect the rights of individuals.

Political support

In other to build up such contacts it is necessary to work with prestigious groups individually or through relatives, friends and associations. Political affiliation, social participation and such other linkages serve as an important factor contributing to entrepreneur skills. Favorable Government policy and social recognition influence a person to become an entrepreneur.

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The world entrepreneurship is derived from French word entrprend”meaning to undertake “to this end, an entrepreneur is some one that creates a business. But as noted in Okezie, Alex & Asoluka (2013) The creation of business is certainly an important facet of Entrepreneurship, it is not the complete picture.

Thus the entrepreneur as a person brings in overall change through innovation for the maximum social good. Human values remain scared and inspire him to serve the society. He has firm belief in social betterment and he carries out this responsibility with conviction. In this process, he accelerates personal, economic as well as human development. The entrepreneur is a visionary and an integrated man with outstanding leadership qualities(William &Andrew, 2015).

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With a desire to excel, he gives top priority to Research and De. He always work for well_being of the society. More importantly, entrepreneurial activities encompass all fields/sectors and factors a spirit of enterprise for the welfare of mankind . Entrepreneurs are the first to discover the availability and potential economic value of new resources ;they are in effect bringing those resources into existence in economic terms (Alba, Kazuro & Kenju, 2016).

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