Why the below influencing factors on development of entrepreneurship are importa

Question

Why the below influencing factors on development of entrepreneurship are importance for developing countries. (a) incentive: property rights (b) technology development and transfer (c) infrastructure (d) venture capital and sources of finance (e) policy and institutions
Why the below influencing factors on development of entrepreneurship are importance for developing countries. (a) incentive: property rights (b) technology development and transfer (c) infrastructure (d) venture capital and sources of finance (e) policy and institutions
(a) incentive: property rights (b) technology development and transfer (c) infrastructure (d) venture capital and sources of finance (e) policy and institutions

Explanation / Answer

These factors are important because they form the basic needs for the creation of an entrepreneurship environment which is very important for budding entrepreneurs. Developing countries need to incentivize the entrepreneurship as it is not common trend and need a lot of support as these people don’t have enough resources to fulfill their dreams. Infrastructure is the basic and most important for any business. It has been observed that developing countries are lacking greatly in infrastructure thus unable to attract external investment. Developing countries have started making progress in technology but lack a great amount of technological advancement. The entrepreneur in these countries needs to use new technologies thus technology development or its transfer is very important for setting right business environment in developing countries. As already discussed that entrepreneurs don’t have enough resources to convert their idea into products thus need financial assistance from third party institutions like venture capital. These countries need supportive policies and incubator institutions which can support entrepreneurship practices in developing countries.

Related Questions

Navigate

• Browse (All)
• Browse W
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.