Today, organizations are paying attention to the development of the entrepreneurs, by organizing various schemes and programs, providing incentives and facilities and establishing various units for entrepreneurial development.

There are many factors that influence entrepreneurial development, such as, motivation, entrepreneurial skills, normative behavior, and Socialization.

There are many perspectives or angles to evaluate how different factors contributing on entrepreneurship development process. It becomes imperative to identify the key factors that are affecting the development of entrepreneurship. Recent studies have much focused on different cognitive as well as social factors. At this context, the researchers tend to argue on basis of the connections between entrepreneurial traits, achievement, risk propensity, prior knowledge, policy, social norm, family influence and entrepreneurship development.

An environment that supports entrepreneurship should include access to four critical elements: funding, mentors, networks, and education. Funding often comes from friends and family and for many ventures that is all that is needed. However, for a growing number of technology ventures some type of outside investment is needed the de-risk the venture. Mentors are critical to helping founders develop a viable strategy and market approach and serve as a sounding board for ideation. Networks provide access to a wide variety of valuable insights from peers, successful entrepreneurs, functional or technical experts and investors. Finally, access to education support the growth of stable enterprises by helping founders better prepare for activities associated with regulatory compliance, accounting, digital presence, marketing, etc.

Leadership and Inspiring Others

It is up to the entrepreneur to marshal assets. Leaders are challenged with taking possibilities and turning them into inspiring visions for others. You will inevitably have to sell either your idea or your product to begin your entrepreneurship. It will be up to the entrepreneur to take the idea and turn it into actions and products to capitalize on the opportunity. Leadership can come in many forms, but it is nevertheless essential to entrepreneurship. You must take the lead for your ideas to come to fruition.

Norliana Abd Majid

Entrepreneurship is a trait which can be developed by training and learning. It's not a characteristic or part of the gene. The same has been discussed in my bookBook Entrepreneur's Psychological Capital: An Enticing Affair - L.... There are various internal and external factors that decide an individual's fate as an entrepreneur. Recent research has revealed that family does play a pivotal role in shaping the success of entrepreneurs. Below is our research on the impact of family incivility towards the entrepreneur and its influence on the entrepreneurial success of MSMEs :Article Family incivility and entrepreneurial success of MSMEs: Mode...

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