Get premium membership and access questions with answers, video lessons as well as revision papers.

Explain five factors that may promote entrepreneurship in Kenya.

      

Explain five factors that may promote entrepreneurship in Kenya.

  

Answers


gregory
? Government support/ favourable government policies/ funding regulation (of
business activities) may encourage the emergence expansion of business
venture.
? Training/ in education entrepreneurship/ trainees are equipped with skills/
knowledge to undertake entrepreneurial activities to start businesses.
? Entrepreneurial culture/ cultural practices that encourage entrepreneurship
through early exposure to business activities opportunities/ positive attitude
towards business.
? Presence of role model interaction with successful business people who may
inspire/ create interest in entrepreneurship/ business ownership.
? Availability of capital/ loans/ credit facilities for start expanding a business
(may facilitate entrepreneurship).
? Political stability/ non political interference that creates a confused
environment for starting/ running expanding business.
? Availability of market/ market information.
? Availability of security- that ensure safety of businesses/ property/ business
owners.
? Healthy/ fair competition that business owners can withstand/be safe with.
? Good government that ensures accountability in conducting business
activities.
? Availability of technology that can lead to the production of desired quality/
quantity of goods/services.
? Employment creation for self/ others.
? Independence/ needs to earn an income/ livelihood.

OR

Development of a positive culture that values individuals who are successful entrepreneurs,recognizes and holds them highly.

Relevant education curriculum - The training in business is made part of the curriculum hence preparing the youth at an early age to become entrepreneurs.

Presence of role models - Successful businessmen are an encouragement and a motivation to the youth and would-be entrepreneurs to also go into business.

Government support - Policies passed by the government that put in place institutions that support entrepreneurship like the youth fund.

Diminishing jobs in the formal sector - Since formal employment is becoming difficult to secure, entrepreneurship becomes the only viable alternative.

Availability of finances - The financial institutions support businesses and provide loans to the entrepreneurs hence supporting the growth of entrepreneurship.

Positive peer influence - When people see their peers succeeding in business, they get motivated and also try their hands at it.

Availability of security that ensures the safety of business owners/property.

Availability of market - Ready market where they can sell their produce is a motivating factor to venture into business.

Good infrastructure - This facilitates the conduct of business, access to markets, raw materials and movement of factor inputs.
gregorymasila answered the question on January 26, 2018 at 06:47


Next: Outline four characteristics of services
Previous: Explain five advantages of government involvement in business.

View More Business Studies Questions and Answers | Return to Questions Index


Learn High School English on YouTube

Related Questions