Barriers to Entrepreneurship
Economic like capital, labor and raw material
Non economic like social, cultural (conformity, logic, social status)
Traditional and practical values.
Personal like sustained motivation, inability to dream
Impatience, lack of clear perception
Difficulty to deal with ambiguity and emotional (fear of failure).
Role Governments can play:
The policies that foster economic development through increased levels of entrepreneurship ar :
Increase the market incentives for entrepreneurs.
-To increase and improve the incentives for entrepreneurs.
-Additional tax incentives .
Improve the availability of credit and capital:
-Resolve primary problem of lack of capital.
-Encourage the development of venture capital companies and also implement micro-credit programs.
Initiate entrepreneurship educational programs:
New education initiatives.
Reform market regulations to facilitate entry into the market:
-Ease of entry into the formal sector.
Many use licenses and permits to regulate and earn revenue or protect state-owned sector & they effectively make the markets inefficient (by limiting competition).
Increase entrepreneurial opportunities available to women and young persons:
Many women and young persons excluded because of cultural values or legal restrictions.
The emergence of the entrepreneurial class
Henry Ford was a 20th-century American example. The entrepreneur’s functions and importance have declined with the growth of the corporation.
Thomas Edison without a doubt, the greatest inventor of the modern era. Many of his over one thousand inventions have changed the lives of everyone in the world.
Richard Arkwright in England and William Cockerill on the Continent of Europe were prominent examples of the rising class of entrepreneurial manufacturers during the Industrial Revolution.
Entrepreneur
Invests, bears risks, Adopts innovation
Intreptreneur
Depends on entrepreneur, not fully bearing risks, works within the organization
Ultrapreneur
High technical skills, Sells products & processes at peak-Sabeer Bhatia (Hot mail to MicroSoft)
Cyberpreneur
Innovative skills, no competition, no investment, zero level risk, depends on outsourcing (Honda,Casio)
Technopreneur
The term "technopreneur" arose from within Singaporean culture to describe an individual whose entrepreneurial endeavors focus on a technology-
centered enterprise.
Economic like capital, labor and raw material
Non economic like social, cultural (conformity, logic, social status)
Traditional and practical values.
Personal like sustained motivation, inability to dream
Impatience, lack of clear perception
Difficulty to deal with ambiguity and emotional (fear of failure).
Role Governments can play:
The policies that foster economic development through increased levels of entrepreneurship ar :
Increase the market incentives for entrepreneurs.
-To increase and improve the incentives for entrepreneurs.
-Additional tax incentives .
Improve the availability of credit and capital:
-Resolve primary problem of lack of capital.
-Encourage the development of venture capital companies and also implement micro-credit programs.
Initiate entrepreneurship educational programs:
New education initiatives.
Reform market regulations to facilitate entry into the market:
-Ease of entry into the formal sector.
Many use licenses and permits to regulate and earn revenue or protect state-owned sector & they effectively make the markets inefficient (by limiting competition).
Increase entrepreneurial opportunities available to women and young persons:
Many women and young persons excluded because of cultural values or legal restrictions.
The emergence of the entrepreneurial class
Henry Ford was a 20th-century American example. The entrepreneur’s functions and importance have declined with the growth of the corporation.
Thomas Edison without a doubt, the greatest inventor of the modern era. Many of his over one thousand inventions have changed the lives of everyone in the world.
Richard Arkwright in England and William Cockerill on the Continent of Europe were prominent examples of the rising class of entrepreneurial manufacturers during the Industrial Revolution.
Entrepreneur
Invests, bears risks, Adopts innovation
Intreptreneur
Depends on entrepreneur, not fully bearing risks, works within the organization
Ultrapreneur
High technical skills, Sells products & processes at peak-Sabeer Bhatia (Hot mail to MicroSoft)
Cyberpreneur
Innovative skills, no competition, no investment, zero level risk, depends on outsourcing (Honda,Casio)
Technopreneur
The term "technopreneur" arose from within Singaporean culture to describe an individual whose entrepreneurial endeavors focus on a technology-
centered enterprise.