PJBM Achiv

Pakistan Journal of Business & Management (PJBM) Vol. 1, No.
1 Page 1 of 16
April 2010
Affect of Need of Achievement & Need of Independence on becoming an

entrepreneur, a study of Professional Entrepreneurs of Pakistan
*
Ali Raza Nemati
**
Amir Gulzar
Abstract
This research has been done on the random selected entrepreneurs of Pakistan. The
objective of this research was to have a better understanding of the problems and hurdles
faced by entrepreneurs when they launched the business and how they overcame them This
research has been conducted to see the different factors which played an important role for
the entrepreneurs to start their own business. It was found that usually entrepreneurs started
their own business in that particular area which they had prior knowledge of, and it has also
been seen and concluded that capital is not the basic need to be an entrepreneur: it is just a
mix of your innovativeness and capabilities to be successful in your business.
The results of this research have shown that most of the entrepreneurs are autocratic. It
shows the trend of doing research before entering in a new venture in Pakistani
entrepreneurs. The result shows that all the respondents are interested in the growth of their
ventures; they haven’t stopped the planning and research for the growth of their businesses.
The results show that the respondents haven’t started their ventures for change in present
life style, they have some interest in it--for their internal satisfaction their primary goal, and
not the earning or to economic support rather to the family. Most of our respondents have
other sources of income to support their families.
The family background of an entrepreneur plays an important role in making a person an
entrepreneur. The entrepreneur idolizes that person in the family who is an entrepreneur
and gets motivated to start his own venture. The study of education showed that though
education is not a pre-requisite to start a new venture but with the expansion of business
functions education plays an important role
Keywords: Need of Achievement, Need of Independence, Entrepreneur
1. Introduction
*
Riphah International University, Islamabad
**
Foundation University Rawalpindi
Affect of Need of Achievement & Need of Independence on becoming an entrepreneur, a

study of Professional Entrepreneurs of Pakistan
http://www.hamdard.edu.pk\pjbm
Pakistan Journal of Business & Management (PJBM) Vol. 1, No.1 Page 2 of 16
April 2010
The Research was assigned to us during the entrepreneurship course. After understanding
all the core components of this subject, we were required to interact with entrepreneurs
from different backgrounds so that a better understanding is developed practically as well.
We selected the micro and small level entrepreneurs due to their immaturity in the field, so
as a result more problems could be analyzed and retrieved.
The main theme of the project was to explore the problems that an entrepreneur faces while
starting an enterprise, and then finding ways to answer with them. Not only the problem as
our primary focus but also providing them with better business strategies like marketing
strategies, suppliers enrichment, financing ways, and a lot more. The study will not only be
beneficial for us and our colleagues but also for the entrepreneurs whom we explored by
giving them better consultancy to their problems
The questionnaire and interview method was adopted to gather data from our respondents
and Microsoft Excel was used to analyze the data with the help of graphs. The respondents
were identified first and appointment was sought from them and they were told about the
purpose of the questionnaire and benefit them. The questionnaires were distributed among
them and they were filled on the spot by the entrepreneurs as they were being interviewed.
1.1 Purpose of Research

The rationale behind conducting this research was to investigate and scrutinize different
entrepreneurs and to gather valuable information from them which will be helpful for future
entrepreneurs while launching their own businesses. The purpose was to identify the
personal, behavioral and business aspects of the entrepreneur and analyze how these factors
motivated him to become an entrepreneur.
Another objective was to have a better understanding of the problems and hurdles faced by
entrepreneurs when they launched the business and how they overcame them. Part of this
research involved understanding of the problems faced by entrepreneurs these days and
then coming up with some solutions to their problems and proposing some
recommendations which would be beneficial for them.
This research also aimed at analyzing the prevailing market situation and exploring the
opportunities existing for new entrepreneurs. This endeavor also included comprehending
the role played by the government in the form of making different policies and regulations.
1.2 Literature Review

Market incentives show entrepreneur opportunities to be exploited and capital is the major
source needed to carry out entrepreneurial activities (Sang & Suzane 2000). Researchers
Austin, Stevenson & Jane (1999) compared entrepreneurs to non entrepreneurs in 13
countries. They reported that entrepreneurs were consistently higher in power-distance,
individualism and masculinity and lower in uncertainty avoidance when compared to career
professionals. By broadening the scope of traditional entrepreneurship to include socially-
oriented ventures, students and faculty are provided with a broader platform on which to
develop entrepreneurial solutions to social problems (Mars & Mathews, 2009).
Entrepreneurship has been the engine propelling much of the growth of the business sector
as well as a driving force behind the rapid expansion of the social sector (Hyton, George
&Shaker, 2006). Entrepreneurialism tends to be defined by innovation, and innovation

April 2010
requires creative personalities. Such persons tend to require a different management style
than those doing more routine jobs. The very abilities that are necessary to be a successful
innovator (the abilities to think outside the box and do things in one’s own way) make
management of the creative individuals in an entrepreneurial organization more difficult
(Wineclaw, 2008).
According to Davison (2008) as a global economic driver, entrepreneurship adds real value
through the creation of new jobs and the production of innovative products and services. In
short, entrepreneurship promotes the generation of wealth. Marie (2008) researched that
traditional management research views the entrepreneur as an industry-maker. Someone
that builds the nation’s economic system, is hard-working and willing to take risks, and
invests personal assets. According to this school of thought, the entrepreneur establishes the
foundation for an organization, and then builds it into an industry leader.
Number of trait characteristics are associated with successful entrepreneurs: Commitment
and determination; desire to accept responsibility for their venture’s outcome; opportunity
obsession – constantly seeking out of opportunities, High self-confidence in themselves:
creativity and flexibility in problem solving: desire immediate performance feedback, high
levels of energy: future oriented – i.e. possess a long-term perspective: willingness to learn
from failure – they are not unafraid of failure; visionary leadership ability (Davison, 2008).
An x-ray of the entrepreneurial organization reveals these dynamic characteristics:
encouragement of individuals, imagination, flexibility and a willingness to accept risk
(Stephen & Gumpert, 1985).
Entrepreneurial firms are growth-oriented, proactive, innovative, creative and flexible.
They are pioneers and risk-takers, and they encourage their employees to be imaginative.
Successful entrepreneurship will lead to the creation of value, through several means,
including: the renewal of the organization itself: the renewal of markets: changes in the
pattern of resource deployment: The creation of new capabilities to add new possibilities
for positioning in markets: the breaking of new ground: the remixing of old ideas to make
seemingly new applications (Vanessa, 2008). Men are more likely to start businesses than
women. In both high and middle income countries, the rate of male opportunity
entrepreneurship is higher than that of women. The greatest gap exists in high income
(GDP) countries, where men are almost twice as likely to be early stage or established
business owners than women. Yet, there is no significant difference in the rate of necessity
entrepreneurship by gender (Davison, 2008).
1.3 Research Methodology

The methodology used to carry out this research was the questionnaire. A self-administered
questionnaire was distributed to different entrepreneurs and they were asked to complete.
The questionnaire was filled by the respondents in the presence of the researcher so that
any ambiguity regarding any question could be cleared. The respondents were told prior to
filling the questionnaire that it was solely intended for research purposes and the
information provided would be kept confidential. Their willingness was sought before
providing them the questionnaires.
The reason why questionnaire and interview method was adopted was because a
questionnaire is easy to analyze and interpret and by interview and can come to know about

April 2010
the various things also which comes to our mind on that instant. Data entry and tabulation
for nearly all surveys can be easily done with many computer software packages. Many
statistical tools can also be applied on questionnaires to find out co-relation, regression etc.
Questionnaires also reduce bias. There is uniform question presentation and no middle-man
bias. The researcher's own opinions will not influence the respondent to answer questions
in a certain manner. There are no verbal or visual clues to influence the respondent.
Questionnaire method is also quick and efficient way of collecting huge amount of data.
The interviewer can explain the study, answer questions, and designate a respondent.
Response rates tend to be like those of personal interview studies. There is more
opportunity to give thoughtful answers and consult records.
1.4 Sample Selection

The sample was carefully selected by us so that the sample should represent the
characteristics of the majority population. 85% of the businesses in Pakistan are small scale
businesses. The reason why we chose them as our sample was to have a better
representation of the entire population so that our results could be generalized for the entire
population. There were almost 15 entrepreneur being interviewed, and the questionnaire
were being distributed amongst 35 entrepreneurs.
Another purpose behind selecting small scale businesses as our sample was their better
exposure to the business. Small scale businesses are mostly owned and managed by the
owners themselves and they face day to day problems themselves. Resultantly they can
provide better information about the problems they are facing and how they are coping with
them and the personal, behavioral and business aspect of an entrepreneur could be better
studied by analyzing small scale entrepreneurs.
2. Results and Analysis
Personal Information
2.1 Age
The entrepreneurs we studied were mostly between the ages of 30-49. It was noted that
there were no entrepreneurs between the ages 20-29 years. From the data we comprehended
that people preferred starting their own business in the middle stages of their life. Another
thing was also observed in one of our respondent that people after retiring from their jobs
often start the business in which they have experience. One of the entrepreneur we studied
had a 20-year experience in the agriculture and after retiring from the job he started his own
agriculture company.

April 2010
No Of entrepreneurs
35
30
25
20
No Of entrepreneurs
15
10
5
0
less than 20-29yrs 30-39 yrs 40-49yrs 50 or above
20 years
Figure1. No of Entrepreneurs
2.2 Family Background

The family background of the entrepreneurs showed a varying result. It was observed that
majority of the entrepreneurs had someone in their family who owned a business. This
showed that having someone in the family who is an entrepreneur encourages the other
members of the family to start new venture. It was also noted that some entrepreneurs had
no one in the family who was an entrepreneur. They started out the business on their own
without the help of anyone. The analysis also revealed that entrepreneurs having
entrepreneurial parents or sibling also tend to become entrepreneurs as indicated in our
study.
Figure 2. Family Background

2.3 Education
The results from our research further suggested that entrepreneurs who were involved in
businesses which were of technical nature had university education. The technicality of the
business could only be managed by a person who had relevant education in that field. It
was also observed that entrepreneurs running general stores or other businesses which do
not require expertise were mostly educated till either the primary level or the secondary
level. Education played a vital role in the businesses which were complex and technical. In
other areas no such connection between education of the entrepreneur and business was
observed.

April 2010
Figure 3 Educational Background
2.4 Work Experience

While observing the work experience of the entrepreneurs it was observed that majority of
the entrepreneurs had some sort of experience before launching their business. Some had
already owned a business before and some had experience working as an employees in
some organization. The results indicated that experience in the relevant field is a requisite
before launching your own firm.
Figure 4 Work Experience
2.5 Birth Order

The results we obtained from the birth order of the entrepreneurs revealed that mostly the
entrepreneurs were 2nd born in the family. Contrary to the previous studies it showed that
2nd born are most likely to become entrepreneurs. The percentage of entrepreneurs born 1st,
4th or 5th was the same.

April 2010
Figure 5 Birth Order

2.6 Behavioral Assessment
2.6.1 Locus of Control

The study showed that the locus of control of the entrepreneurs was mostly internal. They
believed that if they decided to do something than nothing could stop them. Internal locus
of control according to previous researches is one of the factors leading to entrepreneurial
career. Internal locus of control indicates the amount of control the entrepreneur thinks he
has over the outcomes of his decisions. This strong determination enables him to face all
the challenges of starting a new venture.
Figure 6 Locus of Control

2.6.2 Need of Achievement
The need for achievement was studied to be very high among the entrepreneurs. The results
showed that all the entrepreneurs had a very strong sense of achievement; which motivated
them to start a new venture and face all the hurdles with courage and valor. This implied
that for starting a new venture the person should be achievement oriented and focused
towards his goal.

April 2010
Figure 7 Need for achievement
2.6.3 Need of Independence

The need of independence was found to be generally high in entrepreneurs. The
entrepreneurs we studied did not like seeking permission from anyone for their work. They
had a strong sense of independence in them. The results showed that the entrepreneurs tend
to have a strong sense of independence and they don’t like being told what to de. They like
to be their own bosses and take all the decisions themselves.
Figure 8 Need of independence

2.7 Business Information
2.7.1 Starting Capital

The data collected from the entrepreneurs showed that the majority of the entrepreneurs
started their business by seeking loans from banks. This trend shows the good work done
by our small and medium enterprise banks that encourage aspiring entrepreneurs to get
loans from them on easy payment modes and start their own business so that we can
prosper as a nation. Another thing observed from the data was that some entrepreneurs
sought the investment from their friends and families. It is due to the strong family

April 2010
relationships in our culture that family or friends help the person in financial needs and do
their utmost in setting up a business for their friends or family member.
Figure 9 Starting capital

2.7.2 Status of Business
The data collected from the entrepreneurs depicted that all of them started the business
from scratch. It is a common misconception that majority of the businesses are either
inherited from parents or they are either acquired from someone. Our research showed that
the entrepreneurs had a strong motivation level for starting their own business and not
being dependant on others.
Figure 10 Status of company

Figure 11 Reason for starting business

April 2010
Reason for Starting Business

While analyzing the reasons why entrepreneurs started their own business we came to
know that there were many reasons which forced them to do so. Contrary to general belief,
that businesses are started just for the purpose of money making, a mixture of many reasons
was observed. Though money making was always of prime importance for the
entrepreneurs but there were other factors also. For some entrepreneurs the self-
achievement was also a motivating force, while for other the need of independence and not
working under anyone was so strong that they started their own business.
The results gathered from the entrepreneurs suggested that the entrepreneurs considered
advice and mentoring a major support before starting a new business. The results of our
research were aligned to the previous researches as it is a general norm that people seek
advice from their friends, other entrepreneurs and family members before starting a new
business. Mentoring was also considered a vital support by entrepreneurs as they use their
circle of business friends to get valuable advice regarding the business.
Figure 12 Support of starting business
2.7.3 Main obstacles faced when starting a new business

The main obstacles that were researched to be faced by entrepreneurs were start up finance
and lack of information. The start up finance is considered to be the most difficult hurdle by
the entrepreneurs as getting the required finances for the business is not easy.

April 2010
2.7.4 Obstacles Faced Right Now

The main obstacles faced by entrepreneurs right now were mainly combining family and
work life and liquidity and other financial problems. These were common problems which
almost all entrepreneurs face.
Figure 13 Obstacles faced right now
Figure 14 Obstacles faced when starting business
2.7.5 Business Life

The entrepreneurs we studied had mostly been running the company for more than 4 years.
The life of their business was mostly between 4 to 10 years. It is generally believed that
entrepreneurial ventures are short lived and they do not survive for more then 2 years. Our
research gave results contradictory to such beliefs. One of the entrepreneurs we studied was
running the business for more than a decade. This shows that though majority percentage of
entrepreneurial ventures fail, but still with the right attitude, skills and perseverance
business can be run profitably for a longer period of time.

April 2010
Figure 15 Business life
2.7.6 First Entrepreneurial Venture

The result showed that most of the entrepreneurs were fresh and did not have any
entrepreneurial experience before the launch of their firm. Some of the entrepreneurs were
experienced as well and they had owned a firm before the start of this business.
Figure 16 First entrepreneurial venture
3. Conclusions and Recommendations

After studying different entrepreneurs we concluded they depicted a somewhat distinct
behavior which is different from other people and that behavior guides and motivates them
to become an entrepreneur. Our study shed some light on the behavior of the entrepreneurs
and we concluded that entrepreneurs are generally people who have a strong internal locus
of control and they tend have a strong need for achievement. They can’t take orders from
anyone and like to be their own boss. These characteristics serve as a motivating force in
becoming an entrepreneur.
From the study we can conclude that the family background of an entrepreneur plays an
important role in making a person an entrepreneur. The entrepreneur idolizes that person in

April 2010
the family who is an entrepreneur and gets motivated to start his own venture. The study of
education level showed that education is not required to start a new venture but with the
expansion of business functions education plays an important role. In businesses that are of
technical nature it was also observed that education played an important role. The
government should try to improve the level of education in our country and setup technical
schools as they would indirectly help in producing more and more entrepreneurs.
When setting up a new business the problem that most entrepreneurs face is the startup
capital. Most of the entrepreneurs are not much educated and they don’t know the terms
and conditions of the bank loans. They think that the banks deceive them by charging them
high interest rates. This lack of education and mistrust is creating a lot of hurdles in the
development of entrepreneurial culture in Pakistan. The government should try to provide
as much information possible to entrepreneurs so that they should know that finances are
available and they just need to take the initiative.
Major findings of our analysis are discussed here. First, of all we have found that most of
the entrepreneurs were either the eldest or the youngest among the siblings, which might be
a major reason for their confidence in them and risk taking ability. Second, we have found
that they all had experience in their respective businesses before assuming the ownership of
their firms. So it comes out as a major factor that to have experience before starting a
venture would be a factor in the success of the prospective business. Then we have found
that the sense of innovation was among all of the respondents. They believed in innovation
as a major source of long term profitability. One of the major findings of our research is
that none of the respondents looked for any sort of assistance from government or venture
capitalists, which might be an indicator of the inadequate programs or solutions that does
not fill the requirements or needs of the businesses today.
Majority of the respondents believed today's recessionary times as being the most critical
challenge, as the businesses depend on demand of their services and products so when the
purchasing power of people goes down demand goes down as well resulting in downturn in
businesses and narrowing down the profitability margins. Another factor that came up as a
finding was importance of employees in success of business. Almost all the respondent
entrepreneurs positively expressed importance of employees by labeling them “running
blood or soul” of the business. Family support was termed as instrumental in bringing
success for an entrepreneur. As when an individual is motivated by the family support he
would be in a better position to put all his mind and abilities into the business.
About the future prospective most of the entrepreneurs expressed their encouragement for
their children to become entrepreneurs as well. The reason could be that they want fresh
ideas in to their existing business and children can be a major source of bringing
innovations, while letting them retain the ownership with in the family as well. Another
interesting finding is the source of inspiration. Most of the entrepreneurs either were
inspired by their ex-boss or their fathers. As they become a source of living role model of
what they want to see themselves as. Finally the consensus advice for new entrepreneurs is
described as having utmost faith in themselves; believe in what they pursue, hard work and
experience in the relevant field is mandatory.
Another thing observed in our study was the unsatisfied behavior of entrepreneurs towards
the government rules and regulations. The government needs to reevaluate the procedures

April 2010
and regulations to make them more business friendly so that more and more people should
start their own businesses. A policy review and procedural changes are required to improve
the business situation. Another thing which we recommend is the importance of
mentorship. In our country the culture of mentorship is non-existent. The culture of
mentorship needs to be developed so that the problems of different entrepreneurs can be
addressed and they can learn from the experiences of other entrepreneurs.
Based on our research we have found out that experience in relevant field is important
before venturing into business. Our suggestion for entrepreneurs is to have sufficient
business experience and knowledge beforehand so that they know how to maneuver things
when they venture into business of their own in order to compete and survive in the real
world scenario. This might be a reason of high failure rate of entrepreneur ventures that the
people had no experience and they just come out of the blue, and started business which is
not a long term approach anyway.
Secondly, we have found that no entrepreneur we came across took any help from
government agencies or venture capital providers. Which might be an indicator of programs
or solutions that these agencies or capital providers’ offers are not up to the need of
entrepreneurs of today or they are too strict in their terms and conditions that an
entrepreneur would rather go for private funding. We suggest that the government agencies
and capital providers make programs according to the need of the businesses, so that more
businesses take advantage of such programs and that is the ultimate goal of these agencies
is in the first place. More the need focused programs, more the businesses, more the
employment, more will be the prosperity of the country.
Thirdly, we suggest that entrepreneurs should come up with innovative ideas that
distinguish them from their to-be rivals and competitors. Business is stiff in these
recessionary times already, so this would not be the best idea to come with products or
services that every other business is offering, something has to be unique or innovate in
order to stand in the crowd and be the winner!
Lastly, as employees have been found as to be an important factor in the success of
entrepreneur, we suggest that the new entrepreneurs should take prudence in assembling the
team of employees as they are the ones who will be carrying on the business in the shadow
of the entrepreneur. So it is worth taking time in getting the right employees for the right
jobs.
The results of this research have shown that most of the entrepreneurs are of autocratic
style. They are not doing their family business. They have entered in their field after doing
research. It shows the trend of doing research before entering in a new venture in Pakistani
entrepreneurs. The result shows that all the respondents are interested in the growth of their
ventures; they haven’t stopped the planning and research for the growth of their businesses.
The results also show that the respondents haven’t started their ventures for change in
present life style in fact they have some interest in it, for their internal satisfaction they
have started this journey, their primary goal was not the earning or to support family. Most
of our respondents have other sources of income to support their family. The respondents
are determined and they execute their plans successfully. They have more locus of control.
They didn’t want to get dictation from anyone; they wanted to do things in their own way,
that’s why they started their own business. This shows more trend of need for independence

April 2010
on our respondents. They wanted to achieve something by starting their own ventures, as
they have started their ventures with a vision and planning. More likely they would achieve
their goals as they told about their history of goal setting, visioning and planning. While
some of them have prior knowledge of their field, but two of our respondents have entered
in a new business, about which they didn’t have any knowledge but they have entered due
to their personal interest and after doing market research they recognized the need of
customers in these fields. Most of our respondents have good professional support network
as they have been motivated by professional to come into this field. As well they had some
type of mentors. Most of our respondents have the same organizational structure regarding
decision making. They are the only key decision makers, but sometime take others
opinions.
Most of our respondents have the same opinion about the role of government in
encouraging entrepreneurship in Pakistan. They are not satisfied from the performance of
government in the encouragement of this sector. They said that government make strategies
at the macro level that don’t work on micro level, some of them said it in another way that
government is not implementing its strategies. Another common response of our
respondents was that all of them don’t want to do any unethical action for promoting or for
the growth of their business. This shows the level of ethics in entrepreneurs in Pakistan.
The respondents are also inclined towards the Islamic ethics, as they are not deviating from
the basics of Islamic teachings. They have got success in their business but with the Islamic
teachings, not without these teachings. The motivation of our respondents in their
businesses is their work, they like to do hard work with honesty. They are being motivated
with their quality work. They are not much dependent on their families, not form moral
support and as well not for the business growth. As proved by questionnaires that in their
personal life most of them don’t consult any one for personal decisions. In the same way
they don’t have any role model for the business from their family.
4. Recommendations
4.1 Aggressive advertisement about government policies and awareness.

4.2 Entrepreneural college and schools
4.3 Seminars for entrepreneurs
4.4 R&D supported by the government for the guidance of entrepreneurs.
4.5 Flexible rules and regulations for entrepreneurs.
4.6 Encouraging new entrants. There should be more opportunities for new entrepreneurs
4.7 In starting years government should provide some tax relief should be given to
entrepreneurs for their encouragement.
4.8 There should be an entrepreneurs’ union, and should have a union head which can
present their problems to government.
4.9 One course of entrepreneur should be mandatory in business schools, it should not be
limited to text books in fact students should be motivated to start their new businesses.
For this purpose they should get some funds from Industry, Government and
University.

April 2010
4.10 There is a need of social education in which the concept of job should be eliminated
after graduation, as our youngsters once get their degrees they think that they have only
the option to do job. They can’t start their business after getting education.
4.11 Before making any policy for entrepreneurs, the government must get some
recommendations or conduct some debates by the business students, mentors and
business professors.
4.12 The gaps between the industry and the university should be eradicated by the trend
of conducting combined researches.
4.13 The mentors must regularly address the business students, so it may motivate the
students for becoming entrepreneurs.
4.14 A course in the business schools should be designed addressing the knowledge of
government polices and rules and regulations for entrepreneurs, about getting licenses
and getting their patent requirements etc.
References
Edwin D. Davison. (2008) ‘The Entrepreneurial Mindset’. Boston, MA: HBS Press.
Vanessa A. Tetteh, (2008) ‘Entrepreneurship & Business Planning’, Cambridge: Harvard
University Press.
Howard H. Stephen & David E. Gumpert, (1985) ‘The Heart of Entrepreneurship’, Harvard
University Press
Ruth A. Wineclaw, (2008) ‘Current Issues in Entrepreneurship’, 114, 48. Retrieved March
22, 2008
James Austin, Howard Steveson & Jane Wie Skillern, (1999) ‘Social & Commercial
Entrepreneurship’, Journal, Vol1 3No 1, pages 27-45
James C. Hyton, Gerard George & Shaker A. Zahra (2006) ‘National Culture &
Entrepreneurship’, Journal of Small Business Management. 44(4), pp. 531–543
Sang M. Lee & Suzane J. Pretson. (2000), ‘Culture, Entrepreneurial Orientation & Global
Competitiveness’. Review of Economic Studies, 68, 45-68.
Matthew M. Mars & Sharon Garrison (2009), ‘Socially-oriented ventures and traditional
entrepreneurship education models A case review’. Journal of Education for Business, Vol.
84 Issue 5, p290-29


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Pakistan Journal of Business & Management (PJBM) Vol. 1, No.

Affect of Need of Achievement & Need of Independence on becoming an

Keywords: Need of Achievement, Need of Independence, Entrepreneur

Affect of Need of Achievement & Need of Independence on becoming an entrepreneur, a

1.1 Purpose of Research

1.2 Literature Review

Affect of Need of Achievement & Need of Independence on becoming an entrepreneur, a

1.3 Research Methodology

Affect of Need of Achievement & Need of Independence on becoming an entrepreneur, a

1.4 Sample Selection

2. Results and Analysis

Affect of Need of Achievement & Need of Independence on becoming an entrepreneur, a

2.2 Family Background

Figure 2. Family Background

Affect of Need of Achievement & Need of Independence on becoming an entrepreneur, a

Figure 3 Educational Background

2.4 Work Experience

Figure 4 Work Experience

2.5 Birth Order

Affect of Need of Achievement & Need of Independence on becoming an entrepreneur, a

Figure 5 Birth Order

2.6.1 Locus of Control

Figure 6 Locus of Control

Affect of Need of Achievement & Need of Independence on becoming an entrepreneur, a

Figure 7 Need for achievement

2.6.3 Need of Independence

Figure 8 Need of independence

2.7.1 Starting Capital

Affect of Need of Achievement & Need of Independence on becoming an entrepreneur, a

Figure 9 Starting capital

Figure 10 Status of company

Affect of Need of Achievement & Need of Independence on becoming an entrepreneur, a

Reason for Starting Business

Figure 12 Support of starting business

2.7.3 Main obstacles faced when starting a new business

Affect of Need of Achievement & Need of Independence on becoming an entrepreneur, a

2.7.4 Obstacles Faced Right Now

Figure 13 Obstacles faced right now

Figure 14 Obstacles faced when starting business

2.7.5 Business Life

Affect of Need of Achievement & Need of Independence on becoming an entrepreneur, a

Figure 15 Business life

2.7.6 First Entrepreneurial Venture

Figure 16 First entrepreneurial venture

3. Conclusions and Recommendations

Affect of Need of Achievement & Need of Independence on becoming an entrepreneur, a

Affect of Need of Achievement & Need of Independence on becoming an entrepreneur, a

Affect of Need of Achievement & Need of Independence on becoming an entrepreneur, a

4.1 Aggressive advertisement about government policies and awareness.

Affect of Need of Achievement & Need of Independence on becoming an entrepreneur, a

Affect of Need of Achievement & Need of Independence on becoming an entrepreneur, a

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