Motivation is the driving force within people that get them to act in the ways they do. Entrepreneurial motivations are necessary steps of getting individuals to become entrepreneurs. Scholars have conducted various researches on entrepreneurial motivations and have come up with several factors that motivate people to become entrepreneurs.
The standard issue with the concept of “Entrepreneurial Motivation” is that many scholars do not agree on the all the special characteristics that the entrepreneurs are supposed to possess to function as entrepreneurs. In fact, there have been noted cases where successful entrepreneurs haven’t been found possessing many or all the special characteristics identified by experts to become successful entrepreneurs.
Hence, scholars now identify a set of several human motivations that influence the entrepreneurial process and have concluded that that entrepreneurial spirits are not solely the result of human action. External factors, such as the economy, the availability of business capital, competitors and government regulations are also important factors in entrepreneurship.