Internal Factors that Stimulates Business Startups in Southern Nigeria

Abstract

In the face of unpredictable business environment, epileptic power supply, unstable government policies, poor infrastructural facilities, poor market network, inadequate capital among other factors affecting the Nigerian business environment which hinders motivation and has a great limitation to the functionality and development of entrepreneurship yet businesses are still being established. Hence, the aim of this study is to identify the internal factors that motivate such entrepreneurs in starting up businesses in Southern Nigeria despite the above challenges. Using a descriptive study, seventy one entrepreneurs were investigated. Findings revealed that passion, the desire to do something pioneering and innovative, and the feeling of accomplishment were the major factors that motivate the entrepreneurs in this context. Hence, government agencies and other empowerment institutions should take note of these factors if entrepreneurship is to be fostered.

Analysis of Internal Factors for Improving the Performance of Startup Companies in Medan, Indonesia

“…According to Sari & Sitepu (2016) and Muhammad (2013), the difference is in terms of Competence and Leadership, which both focus on marketing, finance, HR and operations (Innovation, Initiator, Low-Cost and differentiation). Meanwhile, Brownson (2020) stated that the internal factors of the business startup are: educational background, occupational experience, family background, desire to work freely and independently, passion, feeling of accomplishment, desire to do something pioneering and innovative.…”