Motives Driving the Entrepreneurial Thought: An Empirical Study on Micro Entrepreneurs

Abstract

The call for the growth of fruitful entrepreneurial activities is playing a major contribution in the economic development of many countries in the globe including India. Hence this study is a survey designed to examine the psychological, economic and social motives of entrepreneurship. Objective of this research work is to identify the motives behind an individual’s choice to be an entrepreneur, study how these motives drive entrepreneurs towards success path. Literature Review included both conceptual and empirical studies published in reputed journals. The study was conducted by collecting responses from 134micro and small entrepreneurs through a structured questionnaire. The sample of respondents was selected through convenience sampling technique. Motives driving entrepreneurial thought, as mentioned in earlier research studies, were collated to design the structured questionnaire in order to gain better understanding. Various statistical tools were used to find out the significant impact of psychological, social and economic motives on entrepreneurship. The study is limited to the micro entrepreneurs of Kukatpally, Hyderabad city in Telangana state.