The Influence Of Entrepreneurship In Entrepreneurship

Much of the research into entrepreneurs’ intentions to startup a new business venture focuses upon the entrepreneurs’ personality traits or the external economic environment. These theories largely ignore socio-cultural factors like social relationships between the entrepreneur and others who influence him and his behavior. In order to fully understand entrepreneur’s intention to startup a new business venture, it is necessary to understand his relationship with his family, peers (a person of the same age, status), friends, funders, advisers etc. The study found that, most of the time, entrepreneur’s decision to startup a new business venture is not driven by his ability considerations, rather it is influenced by his parents or peers and their

His rich & Brush (1984) mentioned that, majority of entrepreneurs in a sample of 468 told that, they received significant support from their spouse in starting up of the venture. Marian Holienka, Milos Mrva, Peter Marcin (2013) suggest that students with family entrepreneurial role models show significantly higher intention to become an entrepreneur than those without. Therefore, it’s asserted that the association between exposure to family role model with positive experience in business and students’ entrepreneurial intention is significantly positive. Ronstadt and Peterson (1988), actors in an entrepreneur's social network may provide significant support in helping the entrepreneur recognize their own abilities or limitations, first generation entrepreneurs generally face strong opposition from their parents as occupation pursued by the family so far is different from what is going to be done by the entrepreneur. Oliver Falck, Stephan Heblich and Elke Luedemann (2009), an entrepreneurial identity results from an individual’s socialization. This could be parental influence but, as argued in their paper, also peer influence. Based on the data in which students reported their entrepreneurial intentions at the age of 15, they found that having an entrepreneurial peer group has a positive effect on an individual’s entrepreneurial