Economic, Social and Political Factors Affecting Entrepreneurial Development
1. High taxation levels. For business and personal incomes
-Which in effect reduce profits earned making it un attractive to engage in business
-Taxation of raw materials and other inputs raise production costs.
2. Corruption and official harassment
-Occurs where entrepreneurs are forced to bribe officials in various government departments to allow operation or start up.
3. Unregulated competition from the outside world due.
-Liberalization which opened importation competing locally produced goods.
4. Declining personal incomes of people due to
-Over-increasing cost of living
-Arise in unemployment
5. The high cost of finance
-The cost of borrowing is high
-Business collapses because they lack ability to repay loans.
6. Lack of necessary skills and knowledge due to
-Lack of training opportunities
-High education costs
7. Poor transport and communication network
- making business difficult
- Inconveniencing consumers
- High energy costs
- Lack of entrepreneurial culture
lydiajane74 answered the question on May 8, 2018 at 01:34
- Outline how the government of Kenya has planned to promote entrepreneurship(Solved)
Outline how the government of Kenya has planned to promote entrepreneurship.
Date posted: May 8, 2018. Answers (1)
- State five desirable characteristics of information.(Solved)
State five desirable characteristics of information.
Date posted: May 5, 2018. Answers (1)
- Explain five methods of written communication.(Solved)
Explain five methods of written communication.
Date posted: May 5, 2018. Answers (1)
- State five advantages and five disadvantages of face to face communication.(Solved)
State five advantages and five disadvantages of face to face communication.
Date posted: May 5, 2018. Answers (1)
- State six importance of communication to an organization.(Solved)
State six importance of communication to an organization.
Date posted: May 5, 2018. Answers (1)
- State four advantages and four disadvantages of written communication.(Solved)
State four advantages and four disadvantages of written communication.
Date posted: May 5, 2018. Answers (1)
- State the advantages and the disadvantages of audio-visual communication(Solved)
State the advantages and the disadvantages of audio-visual communication
Date posted: May 5, 2018. Answers (1)
- State four means of audio-visual communication.(Solved)
State four means of audio-visual communication.
Date posted: May 5, 2018. Answers (1)
- State seven barriers to communication.(Solved)
State seven barriers to communication.
Date posted: May 5, 2018. Answers (1)
- Describe four trends in communication.(Solved)
Describe four trends in communication.
Date posted: May 5, 2018. Answers (1)
- Give some of the reasons for opposing innovation(Solved)
Give some of the reasons for opposing innovation.
Date posted: May 4, 2018. Answers (1)
- State the reasons for innovation(Solved)
State the reasons for innovation.
Date posted: May 4, 2018. Answers (1)
- How can promotion of entrepreneurship be done?(Solved)
How can promotion of entrepreneurship be done?
Date posted: May 4, 2018. Answers (1)
- Explain some of the Characteristic of a Potential Entrepreneur. (Solved)
Explain some of the Characteristic of a Potential Entrepreneur.
Date posted: May 4, 2018. Answers (1)
- Explain steps involved in designing a package(Solved)
Explain steps involved in designing a package
Date posted: May 4, 2018. Answers (1)
- Outline the functions of packaging(Solved)
Outline the functions of packaging
Date posted: May 4, 2018. Answers (1)
- Outline the different types of packaging(Solved)
Outline the different types of packaging.
Date posted: May 4, 2018. Answers (1)
- Define warehouse management system(Solved)
Define warehouse management system.
Date posted: May 4, 2018. Answers (1)
- Factors to be considered while initiating warehouse operations:(Solved)
Factors to be considered while initiating warehouse operations:
Date posted: May 4, 2018. Answers (1)
- Factors to consider for warehouse selection (Solved)
Factors to consider for warehouse selection
Date posted: May 4, 2018. Answers (1)