The top 5 Reasons People Become Entrepreneurs

The Top 5 Reasons People Become Entrepreneurs

We recently had an intern, Lehlohonolo Masenya, working with us to gain experience at Matoyana and it’s thanks to her for the research on this article. We wish you all the best with your studies in Marketing Management Lehlohonolo!

  1. Opportunity

Some people become entrepreneurs because they are hardwired to be aware of opportunities available to add value in the lives of those around them and perhaps the world at large. Not only do these individuals have an eye for gaps in markets, they have solutions on how to close them too.

  1. Autonomy

Having complete independence is more important for some individuals than it is for others, so much so that the idea of working for someone else seems nearly impossible. This group of entrepreneurs believes in careers that are self-sustaining and prefer to be in complete charge of the kind of work they do, decisions that are made, the environment in which they’re in as well as when and where they work. Having freedom is very important for them.

  1. Responsibility to Society

The top 5 Reasons People Become EntrepreneursWhilst it’s evident that entrepreneurship impacts the economic status for the better, it’s also important to be aware of other socio-economic issues that may need improvement. People who become entrepreneurs for this very reason are people who come up with solutions to problems and challenges faced and take risks to implement them. Regardless of all the benefits that may result from their initiatives, their motive is to bring aboutenvironmental or social change.

  1. Unconventional IdeasThe top 5 Reasons People Become Entrepreneurs

At the rate at which the world is evolving, the level of creativity and innovation continue to change. Certain individuals who generate ideas that are considered unconventional see entrepreneurship as a gateway to bring their aspirations to life without restriction. The advantage of creating something that is your own gives you the liberty to design it however you see fit and to introduce better and alternative methods.

  1. Limited Choices

Having no other option available to you butbecoming an entrepreneur is a push factor meaning that the entrepreneur ends up playing the role not because they are driven to but because their lives are on the line and a need for income is high. These individuals become entrepreneurs due to factors like unemployment, job frustration, limitation of financial rewards and job insecurity.

To find out more about entrepreneurship and discover what drives you, read our article Which Entrepreneur Are You?

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