State the factors motivating the entrepreneur.

State the factors motivating the entrepreneur.

Meaning: Motivation is the process of attempting to influence others to do your will through the possibility of gain or reward. 

(A) Internal factors: 
(1) Strong desire to do something.
(2) Educational background and technical knowledge. 
(3) Business experience in same or related line. 

(B) External factors: 
(1) Financial assistance from government and other knowledge. 
(2) Demand for the product. 
(3) Availability of raw material, labour and machinery. 
(4) Encouragement for big house. 
(5) Profit Margin.