Entrepreneurship Development and Communication Skills (1+1)

4.1.8 Circumstances Favouring Entrepreneurship

The growth of entrepreneurs requires the presence of a number of factors and some of which are as follows:

(i) Independent way of life . Entrepreneur likes to earn his livelihood independently instead of working as an employee of the Government or of a private enterprise.

(ii) Achievement orientation . Such a person is ambitious and hard-working and wants to prosper quickly.

(iii) Implementation of ideas. A person may become an entrepreneur to put his plan for a product into practice.

(iv) Insecurity of job. A person may become an entrepreneur because he does not feel secure in his present job or he may believe that his employer is likely to wind up his business.

(v) Family business . If a young graduate or diploma-holder has the background of a business family, he may think of setting up his business after training.

(vi) Government encouragement . A person may decide to start a new enterprise if he feels that the infrastructural facilities and financial assistance provided by the state are more favourable.

(vii) Risk-Taking . The risk-taking spirit of a man often influences him to become an entrepreneur.