Socio-Economic Factors Influencing
SOCIO-ECONOMIC FACTORS INFLUENCING
THE ENTREPRENEURIAL DEVELOPMENT
The emergence and development of entrepreneurship is not a spontaneous one but a dependent phenomenon of economic, social, political, psychological factors often nomenclature as supporting conditions for entrepreneurship development. These conditions may have both positive and negative influences on the emergence of entrepreneurship. Positive influences constitute facilitative and conductive conditions for the emergence of entrepreneurship, whereas negative influences create inhibiting milieu to the emergence of entrepreneurship.
Some scholars have prepared a list of environmental conditions that may play a role in developing entrepreneurship in a country or region. Others have a more descriptive approach to show "what is out there" in a particular country or region still others have focused on what governments can do or have done to develop entrepreneurship.
Thus, while the role of environmental conditions in developing entrepreneurship has been recognized, most of these studies have been fragmented, highly descriptive, and focused on only a few aspects of the environment. More importantly, most of the literature has neither paid adequate attention to the needs of the entrepreneur--the main beneficiary of the environment--nor described the environmental conditions in terms of the process of new venture creation.
Gaps are evident in the literature. First, a conceptual framework is lacking to integrate the available literature on entrepreneurial environments. Second, explicit links have not been established between the needs of entrepreneurs and how environments can fulfill entrepreneurs' needs, induce or reinforce their desire to go into business, and thus facilitate the process of new venture creation. Third, limited guidelines exist to conduct empirical research on entrepreneurial environments. Finally, a limited body of literature addresses the needs of policy makers despite the
THE ENTREPRENEURIAL DEVELOPMENT
The emergence and development of entrepreneurship is not a spontaneous one but a dependent phenomenon of economic, social, political, psychological factors often nomenclature as supporting conditions for entrepreneurship development. These conditions may have both positive and negative influences on the emergence of entrepreneurship. Positive influences constitute facilitative and conductive conditions for the emergence of entrepreneurship, whereas negative influences create inhibiting milieu to the emergence of entrepreneurship.
Some scholars have prepared a list of environmental conditions that may play a role in developing entrepreneurship in a country or region. Others have a more descriptive approach to show "what is out there" in a particular country or region still others have focused on what governments can do or have done to develop entrepreneurship.
Thus, while the role of environmental conditions in developing entrepreneurship has been recognized, most of these studies have been fragmented, highly descriptive, and focused on only a few aspects of the environment. More importantly, most of the literature has neither paid adequate attention to the needs of the entrepreneur--the main beneficiary of the environment--nor described the environmental conditions in terms of the process of new venture creation.
Gaps are evident in the literature. First, a conceptual framework is lacking to integrate the available literature on entrepreneurial environments. Second, explicit links have not been established between the needs of entrepreneurs and how environments can fulfill entrepreneurs' needs, induce or reinforce their desire to go into business, and thus facilitate the process of new venture creation. Third, limited guidelines exist to conduct empirical research on entrepreneurial environments. Finally, a limited body of literature addresses the needs of policy makers despite the