Across the globe, young entrepreneurs are making an impact in their communities and the economy. Whether they are running a lemonade stand or a tech start-up, these youth showcase what can be done when fueled by entrepreneurship.
Entrepreneurship is considered as a potential vehicle for the development of a country and is believed to be one of the key factors contributing to economic growth. 청년창업 However, despite this, it is still challenging for most people to start their own business because of various reasons such as the lack of capital and the difficulties in finding a business idea. Furthermore, a lack of entrepreneurial knowledge, support and motivation is another obstacle for people who want to become entrepreneurs.
To overcome these challenges, many countries have implemented various entrepreneurship programmes to help individuals identify and exploit new business opportunities. These entrepreneurship programmes have been proven to be effective in encouraging youth to become entrepreneurs.
However, it is important to note that the entrepreneur’s level of readiness to start a business is influenced by other factors such as their personal characteristics, family background and socio-cultural environment. The present study aims to determine the relationship between entrepreneurial ability, opportunity identification and the level of entrepreneurial readiness towards new business start-up. This study uses a mixed method approach to analyse data collected from a sample of undergraduate students in Malaysia. 프랜차이즈창업 The statistical analyses are conducted using both maximum likelihood and Bayesian methods. Additionally, a multi-group CFA model is employed to test the moderating effect of opportunity identification and entrepreneurial ability.
The research findings indicate that there is a positive and significant relationship between entrepreneurial ability, opportunity identification and the degree of entrepreneurial readiness towards new business start-up. The results of this research are important for policy makers to take into account when developing entrepreneurship training for young people.
In addition to providing a vehicle for economic development, entrepreneurship can be an excellent way for young people to gain the experience and skills needed to pursue other career goals. Those with an entrepreneurial spirit can be the catalysts for change, helping to solve some of the world’s most pressing problems and creating jobs in less fortunate nations. It is for these reasons that we need to continue supporting entrepreneurship, especially amongst the younger generations.
Regardless of whether they are selling lemonade or working on a tech startup, these entrepreneurs serve as inspirations for others to follow their dreams. They prove that if you have the right attitude, work ethic and drive, anything is possible. Moreover, their contributions, from the simple to the complex, foster innovation and bring fresh ideas into the market that can impact the global economy. Ultimately, this is what entrepreneurship is all about.