Motivating factors and barriers in the commencement of one’s own business for potential entrepreneurs

This paper aims to recognise the factors that motivate potential entrepreneurs in the commencement of one’s own business activity and to determine factors that hamper potential entrepreneurs in starting up their own businesses. The study was conducted by surveying 255 people who planned to start their own business. The author’s questionnaire was administered to all participants. Respondents recognised three main factors that motivate people to the commencement of one’s own business activity: self-realisation and self-satisfaction, the possibility of higher earnings and ndependence in decision-making. Among the factors that hamper the commencement of one’s own business, respondents cited lack of experience, lack of capital and risk of failure. There was no difference between women and men with regard to motives and barriers. Younger entrepreneurs perceived more barriers than older entrepreneurs. There was no discernible relationship between age and motive to the commencement of one’s own business. Institutions handling financial aid should pay particular attention to the motives behind setting up a business. Deciding to aid a company should be preceded by an in-depth analysis of what the entrepreneur perceives to be the barriers to starting his/her own business as lack of funds is frequently not the only, or even the key, obstacle

Start-up intentions of potential entrepreneurs – the contribution of hope to success

In line with Ajzen’s theory of planned behaviour (1991), an individual’s behaviour is a product of intentions based on attitude toward behaviour, subjective norms, and perceived control. It seems important to seek factors that underlie business intentions and that go beyond Ajzen’s theory when adapting the model to business-related behaviour. This study aims to determine the predictive value of Snyder’s hope of success for start-up intentions. The study was conducted at the University of Finance and Management in Warsaw (Poland) with 347 students of various majors using the Start-up Intentions Questionnaire (SuIQ), the Hope Scale (HS), and the Multidimensional Personal and Business Data Sheet. Potential entrepreneurs displayed stronger start-up intentions than people who did not plan to start a business. Positive correlations were found between start-up intentions and the scores in the HS subscales. The scores in Pathways were the only variables in the regression model that were significant predictors of start-up intentions. The other independent variables – the score for Agency, the total HS score, age, and sex – did not achieve the required significance level. Deepening one’s convictions, especially about one’s skills and persistence in solving problems, may be considered one of the factors underlying start-up intentions

An empirical investigation of the effect of corruption on domestic savings in Nigeria

This study assesses the impact of corruption on Nigeria’s domestic savings. To this end, an ARDL technique was employed to analyze quarterly data for the 1996–2019 period. We find evidence of a long-term relationship between domestic savings and corruption (along with income growth, income level, inflation rate, deposit interest rate, unemployment rate including oil price). The empirical results indicate that lowering corruption level raises domestic savings over the long-term. Other important factors that drive domestic savings over the long-run in Nigeria are income level, deposit interest rate, inflation rate, unemployment rate as well as oil price. Having established the major factors that affect domestic savings, some recommendations are offered to encourage saving mobilization in Nigeria