Entrepreneurship

Entrepreneurship is process of creating something new and assuming the risks and rewards A . H . Cole has defined entrepreneurship as "the purposeful activity of an individual or group of individuals, undertaken to initiate , maintain, or earn profit by production and distribution of economic goods and services.

Family

Most influential role in the life of an entrepreneur.

Childhood Family Environment

Values and Personality

Heredity

Some Qualities of mother and father are by birth.

Self motivation.

Interest.

Society:

According to Max Weber: "Entrepreneurs are a product of particular social condition in which they are brought up and it is the society which shapes individuals as entrepreneurs.
Social Responsibility of Business Culture, Religion, Caste

Friend, relatives and teachers

Social status i.e. high social esteem

Social values like equal opportunities , Secularism.

Economic Factors
Economic system of the country i.e. capitalistic ,social or mixed. Fiscal Incentives Import and Export duty

Monetary Policy

 Availability of Capital Market and marketing incentives Geographic or backward area incentives

Political Factors
Government Policies for small and medium scale industries Geographical area incentives
Infrastructure Government influence on investment

Technological Factors
Production Technologies Technological advancements leads to more productivity and less risk. Up gradation of quality with the new innovations.

Reduction in operation cost