Wednesday, March 6, 2019

1.5 WHY DO PEOPLE BECOME ENTREPRENEURS?


There are many factors and reasons associated with why people become entrepreneurs. According to Hizam Hanafiah (2012), there are four main reasons on why people choose to become entrepreneurs:

a)       Desire to be independent. In detail, people prefer being their own boss, having direct control over their working life, and appreciate their capacity to make decisions.

b)      Ability to fulfil personal goals and interests, such as receiving a certain level of personal income, specific return on investment for funds invested, and apply their enthusiasm.

c)       Potential financial opportunities such as high profit and better income.

d)      Family matter. It is also important as the family will get some benefits from establishing a business firm such as employment opportunities and monetary rewards.

Besides all four entrepreneur goals mentioned before, other goals are considered secondary. These include making a difference, religious needs, contribution to society, tax advantages, accountable to only yourself and a desire to exploit an opportunity.

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1.8 CONCLUSION

Both entrepreneur and entrepreneurship have their own privileges. For that, focused attention and recommendation should be given especiall...