Question

Write short answer of the following.

Discuss the factors motivating the entrepreneur.

Answer 1

Motivation refers to the act of inducing and motivating an individual to follow a particular course of action for the accomplishment of organisational goals.
The factors that motivate an entrepreneur can be classified as internal and external factors.

Internal Factors

i. Passion or desire to do something

ii. Work experience in similar field

iii. Proper education and technical knowledge

External Factors

i. Financial help from the government

ii. High demand for the product

iii. Easy availability of raw materials, infrastructure and credit

iv. High profit margin