An Exploration of Determinants of Entrepreneurial Characteristics, Motivation, and Challenges in Palestine

Maisa Burbar ,Suzan J Shkukani

doi:10.5539/ibr.v14n9p53

Abstract

Being an entrepreneur is becoming an anabranch in the business world. In addition, many young adults are preparing to be entrepreneurs in the future. Worldwide, many intellectuals view entrepreneurship as necessary to small-medium enterprises (SMEs) in general because it is critical to development. Micro, small-medium enterprises (MSMEs) are crucial in Palestine because MSMEs dominate the Palestinian economy.   This study highlights the specific characteristics of entrepreneurship and the factors motivating and challenging people when starting up their enterprises in Palestine and dealing with these challenges and obstacles.   The research method combines qualitative and quantitative tools, each of which was used to study relevant aspects. The qualitative tools used are interviews with the entrepreneurs in Palestine, while the quantitative tool included a designed questionnaire. The collected data was then analyzed using SPSS v 23.  Findings indicated that entrepreneurs in Palestine are self-confident, passionately seeking new opportunities with a good network of professionals, patient, persistent, and determinant, and can adapt to change.&nbsp; The results further highlighted that the most motivational factors behind being an entrepreneur in Palestine include being their boss and increasing income to have a better financial future. However, Lack of savings, political situation, competition, and the fear of risk associated with starting a business is the significant challenges and obstacles they face., Finally, Results indicate that gaining experience, developing business plans, managing financial resources, and motivating employees are the critical factors they have to consider. At the same time, they deal with these challenges and obstacles.

Highlights

Today's economy gained the increasing attention of small and medium businesses worldwide
This study aims to explore Small Medium Enterprises small and medium enterprises (SMEs)' entrepreneurship profile in Palestine and identify the entrepreneurial characteristics and traits, determine factors that influence the level of motivation among the entrepreneurs in Palestine
To meet the objectives of the study, which is exploring the entrepreneurship profile of Small Medium Enterprises SMEs in Palestine, and to identify the entrepreneurial characteristics and traits, in addition to determining the motivating factors that led their entrepreneurial journey, along with the challenges they faced, the research was divided into three stages: the first is the preliminary study through the literature review, designing the questionnaire as a measuring instrument supported by face-to-face interviews, and the third stage which provided the reader with a finding of analytical results

Summary

Introduction

Today's economy gained the increasing attention of small and medium businesses worldwide. The country's economies are affected highly by solid small and medium enterprises (SMEs) while contributing to the gross domestic product (GDP) by reducing the level of unemployment, reduction in poverty levels, and promoting entrepreneurship activity (Sitharam & Hoque, 2016). Defining an SME can be challenging, as the term includes a wide range of definitions globally. Countries and businesses use their judgment when defining small enterprises. The most used criteria are the number of employees and economic measures based on the financial statements of the enterprise and the value of its assets (Berisha & Pula, 2015; Teng, Bhatia, & Anwar, 2011). It is generally related to some criteria such as magnitude, the number of employees, capital, etc. (Abor & Adjasi, 2007; Asunka, 2017)

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Conclusion