discuss economic and social economic environment which affect the growth of entrepreneurship
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Answer:
Entrepreneurship is influenced by four distinct factors: economic development, culture, technological development and education. In areas where these factors are present, you can expect to see strong and consistent entrepreneurial growth.
These conditions may have both positive and negative influences on the emergence of entrepreneurship. Positive influences constitute facilitative and conducive conditions for the emergence of entrepreneurship, whereas negative influences create inhibiting milieu to the emergence of entrepreneurship.
Socio-economic environment has a great impact on the entrepreneurial behaviour and success of entrepreneur. In the developing nations low level of income, consumption, savings' demand, and employment exists, so entrepreneurs consider all these factors while determining their economic activities.
Economic environment exercises the most direct and immediate influence on entrepreneurship. This is likely because people become entrepreneurs due to necessity when there are no other jobs or because of opportunity.