Challenges Faced By Entrepreneurs Lower Their Self Confidence

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Queen Mary University of London Do challenges faced by entrepreneurs lower their self-confidence and make them more risk-averse in future? RESEARCH Rangana Wijesuriya - 110434304 10/30/2014 Research question: Do challenges faced by entrepreneurs lower their self-confidence and make them more risk-averse in future? Abstract This research discusses on key entrepreneurial traits and aspects. The research study determines whether challenges and obstacles faced by entrepreneurs lower their self-confidence and determines if challenges make them more risk-averse in the future. More comprehensive and detailed study about their self-confidence, risk-taking ability and how these traits have an impact on entrepreneurs’ success are examined. To help the analysis of qualitative research, an entrepreneur was interviewed regarding their perceptions on the research question. The challenges interviewee faced before and after her startup is discussed. -Keywords: Entrepreneurship, successful, self-confidence, challenges According to Oxford Dictionaries, an entrepreneur is a person who sets up a business taking on financial risks in the hope of profit. Also, an entrepreneur is a person with passion who is willing to take a lot of risks and not just someone with big innovative ideas. Cordin, Laurentie and Stela (2012) found in their research that psychological factors like self-confidence, risk-taking ability and no fear of failure have a positive impact on
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