The Difference of Influencing Factors of Entrepreneurs' Entrepreneurial Choice

Abstract

Entrepreneurship is a crucial catalyst for enhancing economic vitality and sustaining a country's healthy economic growth. Therefore, what leads entrepreneurs to relinquish their comfort zone and abandon traditional employment to pursue entrepreneurship remains a pertinent inquiry. Entrepreneurs represent the core of entrepreneurial activity. Based on empirical evidence, entrepreneurs' reasons for starting a business vary considerably. For instance, some are motivated by the desire to innovate, while others aim to maximize their earnings. This study specifically examines the singular influence of individual factors, summarizes the primary factors that impact entrepreneurial decision-making, provides explanations and analyses, and elucidates the specific role of each factor and its impact on entrepreneurs' choices. Furthermore, this study introduces the impact of economic cycles and unemployment on individual entrepreneurial behavior, which has received insufficient attention until now. People commonly believe that starting a business is more feasible during periods of economic growth rather than during recessions, but certain entrepreneurial behaviors suggest that this belief may be misguided. Through analysis and research, recommendations are provided for both individual entrepreneurial decisions and government entrepreneurial incentive policies.