Entrepreneurship

Question 1

What are the 4 types of barriers to entrepreneurship ?

Answer 1

Personal, economic, financial, political

Question 2

Personal barriers of entrepreneurship

Answer 2

• lack of self esteem
• risk averse
• fear of failure
• lack of technical skills

Question 3

Economic barriers of entrepreneurship

Answer 3

• inflation
• taxation
• market entry regulations

Question 4

Financial barriers of entrepreneurship

Answer 4

• lack of start up capital
• lack of cheap labour
• lack of investment

Question 5

Political barriers of entrepreneurship

Answer 5

• unstable political landscape

Question 6

Characteristics of an entrepreneur

Answer 6

• hardworking
• resilient
• initiative
• self confidence
• risk taker