The Impact of Mentorship and Funding Support on Stimulating Entrepreneurship Motivation among Family Members
DOI:
https://doi.org/10.24310/ejfb.14.1.2024.17011Keywords:
Entrepreneurship, Mentorship, Funding support, Economy, Entrepreneur's motitationAbstract
This study investigates and assesses factors that influence entrepreneur’s motivation to start up a project and explores government support programs. A study model was developed, and a quantitative approach was used for this purpose to collect data from potential entrepreneurs among family members. Two influential factors were used in the study that would impact entrepreneur’s motivation which are mentoring and funding support. This study is based on the expectancy theory to investigate impact on entrepreneur’s motivation. A simple random sampling approach was used on the targeted population and study results were tested to determine their validity. The findings show that the existence of mentorship and accessible funding support have a favorable relationship and remarkable impact on motivation of entrepreneurs especially in the early stages of the project. The study indicates that entrepreneur’s ideas and goals would not be achieved without proper funding. Potential entrepreneurs may not be able to start their own business people and face the risks in the absence of financial support. It is critical to enhance the understanding of potential entrepreneurs in the early stages on how such substantial efforts might benefit their entrepreneurial journeys. The study suggests focusing on mentorship and funding support programs to stimulate potential entrepreneurs in differente contexts as Bahrain. This step can attract and increase investment in the market and contribute to economic growth of the country.
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