Micro-Entrepreneurs: Motivations, Success Factors, and Challenges
International Research Journal of Finance and Economics, Vol. 56, pp. 22-28, 2010
7 Pages Posted: 9 Jan 2011
Date Written: November 1, 2010
In this paper, we delve into the Pakistani small business sector to investigate the motivations, perceived success factors, and challenges for the micro-entrepreneurs. The study was conducted in Bahawalpur, a major city of southern Punjab, Pakistan. In-depth interviewing was employed to gain insights from 26 micro-entrepreneurs. The results partially acquiesce to previous studies conducted in the similar markets. The microentrepreneurs reveal that, at the time of entering into the venture, they are driven mainly by the pecuniary motives. They perceive customer service and relative business experience as the key success factors. Lack of access to financial capital, bureaucratic hurdles, and environmental uncertainty are the major barricades. The study augments the literature on an under-researched Pakistani market.
Keywords: Micro-entrepreneurship, motivation, multiple-case analysis, Pakistan
JEL Classification: L25, L26, L84, M13, M21, N80
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