2025, Vol. 6, Issue 2, Part F
Mindset and motivation: Why entrepreneurs start up
Author(s): Umika Bansal
Abstract: This study investigates key factors influencing entrepreneurial entry, planning, execution, and survival across sectors like manufacturing and trading. Using a mixed-method approach, the research identifies financial independence (38%) as the main motivation, especially in trading ventures. Formal planning is more common in manufacturing (75%) than trading (48%), showing sectoral differences in strategy. Prior work experience aids in funding and execution, while personal traits like confidence (56%) and risk-taking (40%) help overcome challenges. Social support (76%) emerged as a vital factor in reducing risk and improving sustainability. Challenges such as fear of failure and market uncertainty were notably higher among younger entrepreneurs. Startups faced initial hurdles like customer acquisition and financial constraints, with non-legacy founders reporting stronger network resistance. Notably, 67% viewed the startup ecosystem as increasingly supportive. Experienced entrepreneurs emphasized qualities like persistence and self-belief, reinforcing the role of effectual learning. The findings support theories of necessity entrepreneurship, human/social capital, and offer valuable recommendations for policy, mentorship, and educational support to strengthen the startup ecosystem.
DOI: 10.22271/27084515.2025.v6.i2f.718
Pages: 558-565 | Views: 410 | Downloads: 91
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How to cite this article:
Umika Bansal. Mindset and motivation: Why entrepreneurs start up. Asian J Manage Commerce 2025;6(2):558-565. DOI: 10.22271/27084515.2025.v6.i2f.718
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