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What are the factors have impact on development in entrepreneurship?

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When one goes for entrepreneurshipthere are several factors that affect business in a good or bad way. These factors also decide the run of a business. Some of these factors are –

Demand –

It is always advised to study market trends because it gives you the ideas about customer’s expectations & demand for the products. One might develop a good product but if it has no demand in market, such products do not contribute in growth of business.

Ability to seize opportunities –

Due to variations & trends in market, many opportunities are created everyday. Due to internet, ideas & trends spread fast so it increases the competition and one might lose a good opportunity. Thus, an entrepreneur must be smart & competent enough to seize the opportunity which can lead to development of business.

Capital –

We know that for any business, capital is the driving force. If the investors are unable to provide the constant capital, it can affect the business adversely. The non-availability of capital may shut down the business permanently.

Recession –

Every businessman, entrepreneur knows the consequences of recession. It causes loss of demand and decrease in revenue without which it is almost impossible to survive in market