Motivation, perceived success factors and problems of entrepreneurs: evidence from a developing country in Asia
by B. Nishantha; K.P.J.M. Pathirana
International Journal of Process Management and Benchmarking (IJPMB), Vol. 4, No. 3, 2014

Abstract: Small enterprises are increasingly playing a significant role in Sri Lankan economy. But, only a few studies have been conducted on motivations of individuals who are entering into entrepreneurial career, their perceived success factors and problems of Sri Lankan entrepreneurs. This study is based on the survey conducted with 76 entrepreneurs in Colombo district, Sri Lanka, to understand their motivations for entrepreneurial career; perceived success factors, and problems. The sample was selected from a list of entrepreneurs who were following the Certificate Course on Entrepreneurship at Open University of Sri Lanka. Results show that primary reasons for starting a business are to increase income, to obtain personal freedom, and to ensure job security. Factor analysis results revealed that owners of small and medium-sized enterprises are driven more by income related rewards than intrinsic rewards. Important business success variables include entrepreneur related characteristics, product and finance issues, social connections and human capital. Other critical success factors include management skills and government connections. Lack of reliable employees is the most serious problem faced by small entrepreneurs in Sri Lanka. In addition to that, weak economy, inability to obtain long-term finance, and too much competition, were also identified as important problems.

Online publication date: Thu, 24-Jul-2014

The full text of this article is only available to individual subscribers or to users at subscribing institutions.

 
Existing subscribers:
Go to Inderscience Online Journals to access the Full Text of this article.

Pay per view:
If you are not a subscriber and you just want to read the full contents of this article, buy online access here.

Complimentary Subscribers, Editors or Members of the Editorial Board of the International Journal of Process Management and Benchmarking (IJPMB):
Login with your Inderscience username and password:

Username:        Password:          Forgotten your password?

Want to subscribe?
A subscription gives you complete access to all articles in the current issue, as well as to all articles in the previous three years (where applicable). See our Orders page to subscribe.

If you still need assistance, please email subs@inderscience.com