Get premium membership and access revision papers with marking schemes, video lessons and live classes.
Processing. Please wait.

 Form 1 Business Studies online lessons on entrepreneurship

Factors that influence entrepreneurship practices in Kenya

 (6m 25s)
1264 Views     SHARE

Download as pdf file

Answer Text:
Factors that influence entrepreneurship practices in kenya
-Government policy-Some government policies are favourable to the operations of the business and thus encourage people to go into business while other policies may be unfavourable and will discourage people from going into business. E.g. higher taxes are
unfavourable hence discouraging.
-Infrastructure-infrastructure includes transport and communication networks, water, security e.t.c.
-Levels of education and skills-Relevant and appropriate knowledge and skills are necessary if the business has to succeed. These are acquired through
education, training or experience.
-Availability of markets-Adequate markets encourages existing entrepreneurs to continue producing and also encourage/attract new ones to venture into business.
-Availability of resources-Appropriate resources are necessary for starting and smooth running of a business.
These resources include physical, human, capital and technology.
-Cultural and social beliefs and attitudes-These are norms, values and beliefs of a given community. e.g Muslims do not take pork therefore businesses selling pork will not do well in such communities.
-Competition-Businesses will do well if they are able to complete favourably.
Others will avoid competition by establishing businesses where there is no competition.
-Political stability-political stability gives conducive atmosphere for businesses to star.