Entrepreneurial Motivation and factors that contribute to the success of the entrepreneurship

Abstract

The entrepreneurial motivation is an important factor that contributes to the development of a society. It is also important to provide instruments in order to enhance the actions of potential entrepreneurs for success.

Civil societies, institutions and NGO´s provide support to enterprises, offering economic and financial resources such as training and advice, among others. This offer leads to the questions: which is specifically the demand?, which are the factors that the entrepreneurs identify in relation to the possible success?, are they extrinsic or intrinsic?, are they related to values and personal virtues?

This work aims to identify the factors that, according to entrepreneurs, motivate and propitiate successful entrepreneurship.

Interviews were conducted among a sample of entrepreneurs in three different stages of development of entrepreneurship: potential, emerging and consolidated. The results show coincidences in the three groups referring to the main promoters of the motivation factors and prerequisites to start their own business. They are intrinsic, related to the virtues of the entrepreneur.

There were also clear differences when they identified the main factors which promoted the success of entrepreneurship.  By acquiring experience, entrepreneurs find that extrinsic factors, such as capital and training, are more important to business sustainability.