A study of factors that motivate an entrepreneur to start-up a small business in the local context

• Main Authors: Choy, Oi Leng, Ow, Khai Hoong, Yung, Weng Kin
• Other Authors: Nanyang Business School
• Format: Final Year Project
• Language: English
• Published: 2014
• Subjects: DRNTU::Business::Accounting
• Online Access: http://hdl.handle.net/10356/55458
• Institution: Nanyang Technological University

The objective of this project is to examine the motivational factors in starting a small business. Case studies and questionnaires are used in the research study. Four main hypotheses of entrepreneurship are developed from the literature review, and they are tested by conducting a questionnaire survey and four cast studies. The following conclusions are obtained: (1)a potential entrepreneur, in starting up a business, is mostly influenced by friends and business associates rather than by family; (2) a good indication that educational status motivates a potential entrepreneur to start-up a business; (3) generally, there are signs that the local culture does encourage entrepreneurship; (4) there is no conclusive evidence to prove that different entrepreneurial characteristics are found in entrepreneurs who own different types of enterprises. However, they possess some common personality traits.