Key Factors Influencing Entrepreneurship

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CHAPTER TWO LITERATURE REVIEW 2.1 Introduction This chapter assesses the different literatures written in the areas of entrepreneurship, women entrepreneurs, women entrepreneurs in SMEs, Women entrepreneurs in SMEs in Mauritius, the factors influencing the performance of women entrepreneurs in SMEs and the supports given by institutions to SMEs. 2.1.1 Overview of entrepreneurship The meaning of entrepreneurship is derived from the French seventeenth-century for someone who undertook the risk of new enterprise. The first economist who has used the term entrepreneurship was Richard Cantillion, a French economist of Irish descent. Richard considered the concept of entrepreneurship as a key role in economics; thereby it helps to meet the new economic, social and environmental challenges. Entrepreneurship is considered as a…show more content…
For this there are a number of factors influencing entrepreneurship. Samiti (2006), Tan (2000) classified the key factors that affect entrepreneurs in to two broad categories namely economic and social. The economic factors include competition in the market; lack of access to the market, lack of access to raw material, lack of capital or finance, lack of marketing knowledge; lack of production/ storage space; poor infrastructure; inadequate power supply and lack of business training The social factors include lack of social acceptability; having limited contacts outside prejudice and class bias; society looks down upon; attitude of other employees; and relations with the work force Besides this, Gemechis (2007), Hisrich (2005), ILO (2009) added Social and cultural attitude towards youth entrepreneurship; entrepreneurship education; administrative and regulatory framework; and business assistance and support; barriers to access technology are crucial factors that affect entrepreneurial success. 2.2 Women
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