ENTREPRENEURSHIP

Detailed explanation-1: -Entrepreneurship is a discipline with a knowledge base theory. It is an outcome of complex socio-economic, psychological, technological, legal and other factors. It is a dynamic and risky process. It involves a fusion of capital, technology and human talent.

Detailed explanation-2: -These personality traits are; need for achievement, need for power, locus of control, risk taking ability, and opportunity recognition.

Detailed explanation-3: -Entrepreneurship is a worldwide activity associated with employment generation, economic growth and global development. It involves creativity and innovation leading to new and innovative business start-ups. Small businesses play a significant role in creating jobs and generating income in the economy.

Detailed explanation-4: -Socio-economics is all about how different social processes within a community affect economic activity. There is a direct relationship between these two areas, which can have a large impact on businesses.

Detailed explanation-5: -In general, the main psychological characteristics are strongly related to the entrepreneurial literature, namely: internal locus of control, the tendency to take risks, confidence, the need for achievement, tolerance for ambiguity and innovation.