Factors Encouraging Entrepreneurship
Enabling Factors
Enhancing Entrepreneurship
Hindering Entrepreneurship
Definitions and Concepts
100

What motivates individuals to be their own boss?

Desire for Independence.

100

What is the importance of access to finance for entrepreneurs?

It provides the necessary funding to start and grow businesses.

100

How do technological advancements benefit entrepreneurs?

They enable the development of new products and streamline operations.

100

What is a major barrier due to limited funding for entrepreneurs?

Lack of access to capital for product development and marketing.

100

Define entrepreneurship.

The process of starting and managing a business to achieve profit and innovation.

200

What financial incentives do entrepreneurs seek?

Higher financial rewards and the potential for profit.

200

How does entrepreneurial education support aspiring business owners?

It equips individuals with skills and knowledge to start and run businesses.

200

Why is access to capital crucial for entrepreneurs?

It allows them to focus on growth without worrying about initial investment costs.

200

How can excessive bureaucracy deter entrepreneurship?

By creating complex legal and regulatory requirements.

200

What is innovation in the context of business?

The introduction of new ideas, products, or methods to improve or create value.

300

What do entrepreneurs identify in the market for business opportunities?

Market gaps and unmet needs.

300

How can government regulations foster entrepreneurship?

By creating favorable laws and reducing bureaucratic hurdles.

300

What kind of government policies encourage entrepreneurship?

Entrepreneur-friendly policies such as tax reductions and simplified processes.

300

How does economic instability affect entrepreneurship?

It increases costs and reduces consumer demand.

300

What does the term “market gap” mean?

An unmet need in the market that presents an opportunity for business.

400

What motivates entrepreneurs to innovate?

The desire to introduce new products, services, or processes.

400

What is the significance of technological infrastructure?

It allows entrepreneurs to operate efficiently and reach global markets.

400

How does globalization impact entrepreneurial opportunities?

It provides access to international markets and supply chains.

400

What cultural factors can discourage risk-taking?

Fear of failure and societal stigma around entrepreneurship.

400

Define the role of a mentor for entrepreneurs.

A guide who provides advice, support, and knowledge to help entrepreneurs succeed.

500

What role do government policies play in entrepreneurship?

They provide support through tax incentives, grants, and a business-friendly environment.

500

How do cultural attitudes impact entrepreneurship?

Societies that value entrepreneurship create a positive environment for business creation.

500

What are supportive business ecosystems?

Environments with access to mentors, incubators, and networks that enhance success.

500

What challenges do entrepreneurs face in saturated markets?

Difficulty competing against established companies with greater resources.

500

What is the significance of a business incubator?

It provides resources and support to help startups grow and succeed.

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