1.2.2 Entrepreneurial motives

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    There are two main types of incentive as an entrepreneur: profit and non-financial motives

    In a business, the main motivation is likely to be profit, and entrepreneurs will bring together the factors of production in order to make a profit.

     

    NON-FINANCIAL MOTIVES

     

    • Ethical stance and social entrepreneurship – this means that they might be motivated by their want to make an impact in the world and perhaps increase others standard of living. They may also wish to leave a personal legacy behind.
    • Independence and working from home – being an entrepreneur allows people to have flexibility in their lives and have more freedom in their lives which can be very important. It can also allow people to have a more consistent home life.

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