Abstract
Today, the problem of unemployment has been a global issue, even among the developed nations, and especially the developing nations. For this reason, the need for employment generation becomes desirably indispensable. The aim of this research work is to examine the essential roles that entrepreneurial traits and economic incentive factors would play with the mediation of entrepreneurial motivation for an effective self-employment start-up accomplishment. Self-employment has long been recognized as an alternative for individuals to become self-reliant. Thus, this is expected brings about a reduction in poverty level, improved living standard as well as to earn more income and have a better career as a means of sustenance for potential entrepreneurs. For this purpose, it is essentially important to make an examination of certain vital factors, which may constitute the basics necessary to effect self-employment particularly from the context of entrepreneurial traits and economic incentive factors that would motivate the potential entrepreneurs to achieve success in self-employment start-up.
Highlights
The global financial crisis has caused a lot of setback due the economic downturn among nations
According to Dissanayake (2013) and Uyangoda (2011), whenever two theories were used to establish relationships between variables to measure a certain concept of the different context of domain, such theories can be amalgamated together as a theory extension, to have a clearer appreciation of the concept. This demonstrates how the theoretical extension is executed with the objective of producing new knowledge by incorporating two subject domains (Dissanayake, 2015). This present study amalgamated the personality trait theory and economic entrepreneurship theory together in order to fill the theoretical research gap and eliminate the applicability and practical problems faced by the potential entrepreneurs.The depicted framework below (Figure 1) shows the relationship between entrepreneurial traits that is measured by transformationality, resilience, and autonomy, economic incentive factors are measured by ICTs, vocational training, taxation incentives, financing, and machinery/equipment, and the mediation of entrepreneurial motivation in effecting self-employment
The variable of entrepreneurial traits such as transformationality that concentrates on effective harnessing of resources and revolting to a status quo that may require change by potential entrepreneurs
Summary
The global financial crisis has caused a lot of setback due the economic downturn among nations. Interaction with the business world leads to self-doubt and problems surface, thereby challenging the status-quo and rise for a change In their empirical findings, Leonelli and Masciarelli (2017) maintained that potential entrepreneurs with transformational traits are much motivated to practice entrepreneurship most the start-up stage. This demonstrates how the theoretical extension is executed with the objective of producing new knowledge by incorporating two subject domains (Dissanayake, 2015) This present study amalgamated the personality trait theory and economic entrepreneurship theory together in order to fill the theoretical research gap and eliminate the applicability and practical problems faced by the potential entrepreneurs.The depicted framework below (Figure 1) shows the relationship between entrepreneurial traits that is measured by transformationality, resilience, and autonomy, economic incentive factors are measured by ICTs, vocational training, taxation incentives, financing, and machinery/equipment, and the mediation of entrepreneurial motivation in effecting self-employment
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