Entrepreneurial Motivation Factors

Although the motivations for venturing out alone vary greatly, the following are some of the reasons cited for becoming an entrepreneur:

Internal motivations and drives include:

  1. Need for self actualisation
  2. Need for achievement
  3. Need to take up a challenge
  4. Need for inadequacy
  5. Need for success in certain class (social)
  6. Need for adventure – discover the business world
  7. Need to reduce tension
  8. Need to acquire the social status
  9. Need to control power
  10. Unemployment

External motivations and drives

  1. Role models – looking at those already successful in business
  2. Family background
  3. Training
  4. Support social systems
  5. Geographical position of the area
  6. Needs for external income as a push
  7. Government incentives
  8. Market availability
  9. Infrastructure
  10. Credit facilities

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