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Based on the article given, there are several factors that motivate a person to start a family business. Flexible time is one of the main factors that influence a person to start a family business. The female entrepreneurs prefer a lifestyle which can balance between work and time with their family. They can work at their own time and own places. Female entrepreneur can having free time to spend with their family and on personally fulfilling activities to maintain a healthy lifestyle. Moreover, entrepreneurs are motivated to start a business because of the factor financial. The entrepreneurs were motivated primarily by the desire for autonomy, wealth and financial independence.

The challenges that may hinder an individual to get involve in a business are financial issues. Most small businesses are financed by the saving of entrepreneur. They have drawn on personal savings to achieve their dream. Startup need prepare fund to cover expense. The other challenges is lack of knowledge and skills. It is important that entrepreneur know market and competitor around you. Entrepreneur muss possess the skill before startup a family business.

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Based on the article given, the factor that motivated a person to start a family business is they want to change.their family's life. To ensure they can fullfil their family needs. Their challenge that may hinder an individual to get involved in a business is financial problem and.lack of experience.

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In my opinion, there a lot of factors that motivate or influence a person to start a family business. Firstly, is family wealth creating machine. Wealth is not a guarantee of fun but it can be a tool to live. With family business , someone ordinary can improve his status became rich . If life was difficult , too difficult to find food . Economic life must be increased because expenses are constantly increasing . Competition for jobs is becoming fierce . Only by doing the business , wealth can be achieved quickly . Secondly, gratitude to the public communities is not all so lucky. Some are living in hardship . This is your chance to give back to them . Use your knowledge to find ways to ease the burden borne by those who are troubled . You can take those who have no jobs to be trained as a temporary worker . With training and a monthly allowance , they can survive better. Thirdly ,finding freedom in works not everyone can work under the direction of another person . You kind of want to do the work yourself , go its own way and its own time control . That's why we must choose to be an entrepreneur because you do not like being ordered . That freedom that you want . Nevertheless , you should know your freedom must be systematic . When it came time to work , you work in earnest . If there is no discipline, then your business will not thrive .
The challenges that may hinder an individual for those get involve in a business is financial problems and challenges happen to everyone at some point, and the stress and worry can get to you. However, realizing that there is almost always a way out can help you not feel so depressed. They also may face Internal challenges . Internal challenges are the elements that challenge the authority of someone in the realization of a dream. These elements can give a boost positive or negative depending on the response or how we face it. For example , one challenge is internal to entrepreneur confidence in him to start a career as an entrepreneur . other than that, external challenges . It comes from a number of levels, such as  challenge the family include how to  fixed Income or flexible income Increase income . Also the challenge of local communities.

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There are several factors that motivate or influence a person to start a family business. Firstly is out of money. Among the sources of money happens is unable to pay debts, bills and no money home to support his wife and children. Secondly is come from poor family. So that, an individual want to change their fate with start the family business. Lastly is interest. An individual who is  interest in business will open his own business. The challenges is competition. This will depend heavily on the type of business you are going into. But regardless of the industry, local competition will always be a concern. Opening a business selling particular products can be highly competitive if there are other businesses selling similar products or services. While it might be a great thing for the customers who will now have more options, the involved businesses will not be getting much from their sales. This means that you have to pay attention to the level of competition and if you cannot find a good market, ensure that you make your business different to get an edge over your competitors.

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Based on the articles have been given, there are several factors that influence or motivate to start a family business. Firstly, the main factor is related to life and family security. This is because everyone wants to be successful in life. So, start a family business is an opportunity to develop and grow the business and life success for now and future. For gender differences, men are more concerned to achieve wealth, financial security and life than women. But women also more comparatively than man especially for balancing work and family demands. Secondly, the factors that influence to start a family business are based on skills and experience. This is because from their experience they know how to run their own business smoothly. The last factors are they prefer to be independent. This is because they want to be independence and willingness to be free of any control or become boss.

When we want to start the business there are also many challenges that we may face. Firstly are financial difficulties. This is because when they start they own business many money was needed.  Next, they have low experiences in handling business management including insufficient information on business development, lacking of networking abilities, lacking of business training, problem of child care and family commitment. When they have low experience in handling business it will be the big challenge because they do not know how to avoid loss in business and how to manage the business.

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There are a lot of factors that motivate or influence a person to start a family business. Firstly is motivation to change a fate. From the case study, Musli, the owner of the Teratak Riverside is come from a poor family. By that, he determines to change his family fate. The effort that he can do to change it is by doing homestay business. The second factor is interest. Although Musli is a government staff, he is still interested to doing the homestay business to increase the family economy.  Besides that, the geographical factors of Kampung Teratak make it a suitable place to doing the homestay that can attract tourists all over the world. The third reason is failure. From the past failure, Musli has determine to do the homestay business with the fully heart until it has succeed until now. The challenge that may hinder an individual to get involve in a business is a lack of interest to handle the business. For example, Musli’s son, Adam is not really interested to take over the family business because he is more interested in engineering field. But he don’t want to make his father upset.

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First of all, the main factors that motivate a person to start a family business was an intention to gain income for themselves. In the globalization era, it is been so important to generate own pocket money as a side income in order to survival. Another factor that influence a person start a family business is developing the skills and talent that they gain from experience before. The third factor that influence person to conducting a family business was to showing that they are creative people. Nevertheless, most of the entrepreneurs get fascinated by the sense of immense security that comes in being their own boss. In real sense, when person run their own business, they really come to know what they are made of. Starting from this point, the intention of person to run a family business become high and they want dream come true. However, there was a challenges that may hinder an individual to get involve in a business. Firstly, lack of experience in term of handling and managing business. This factor lead many person fall to continue the operation of the business and they will become more stress finally. Other than that, the second big challenges that may hinder to an individual to get involve in a business was a bit of skills on person itself. Not everyone willing to take risk when the operation of business start down and stop generating a profit in the future. Apart from that, financial issue also a big problem that may hinder someone run a family business. Those who come from poor background of family are definitely hard to find their source as modal in order to starting the business operation.

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In my opinion, there are various factors that motivate or influence someone to start a family business including interest. Everyone has their own interests. For example, when a person or a family that is interested in providing food and intend to open their own restaurant, then they will start a business when they have enough capital to do the business. In addition, factors such opportunities also encourage someone to do the family business. Before starting a business, we must make a study on market by making observations, surveys, adaptation of trends in the location and your target group. If the results of this study show a clear chance to give benefit to the business that their want to create, then they  would take the opportunity to pursue their passion to make a business deal by taking the opportunity. The next factor is due to the desire for make more money. We know that every year the price of goods on the market will increase from year to year. This leads to cost increases in household spending and money monthly salary is no longer enough to cover daily expenses in the future. This problem will cause a desire to find more money with carry out family business to add more income to family.

The challenge that may hinder an individual to get involve in a business is lack of financial capital. Business without sufficient capital will make it difficult to do a business. Next, the lack of experience is also one of the reasons why a person barred from doing business. Without extensive experience, it is difficult to do a business. Knowledge in retail establishments and the current economic state is very important in running a business.

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(BB14110093)
From the articles given, factors that motivate/influence a person to start a family business are determination and ambition from our own self because without it, the business cannot last in the industry. Besides, support from family, friends, and other relatives also important to start a new business from the financial part, motivation, and suggestion on how the business should run. Improving the family life also one of the factor that also can influence someone to start their own business and also maybe there were somebody that doesn’t like to be an employee to other people and want to be a person that giving an order or make their own rule on doing their job.

For the challenges that may hinder an individual to involve in a business are there will be a competitive challenges that they might go through for example if the industry that they wanted to approached is already exist, they will be compete with the well-known company that already exist in the industry long time ago. Furthermore, it is also important for next legacy to continue the family business with their own wiling and not by force because if they do not interested in the industry, the family business will have a problem because there will be no innovation and determination to improve the business.

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AMANDA NOREEN NAPOLEON M. MOJUGA (BB14110099)

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AMANDA NOREEN NAPOLEON M. MOJUGA (BB14110099)

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In my opinion,there is a factors that influence or motivate a person to start a family business which is related to family finance or saving and security. We can see it from difference gender. For female, they are more likely to engage in business as a balancing of between work and family demand and also this can help them to be a successful person. But for male entrepreneur, they are more likely concerned about wealth, financial securities and life. Not only that, experience, resilient interest and self-satisfaction in doing business, and prefer to be independent are also the factors that motivate a person to venturing into business.

There are challenges that they will face which is they may hinder an individual to get involve in a business is financial difficulties when running up business. Besides, female entrepreneur will face more challenges because of  low experience in managing business management including insufficient information on business development, lacking of business training and problem of child care and family commitment.

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Based on the article given, there are several factors that motivate or influence a person to start a family business. First, it is related to life and family security. From the gender differences, we can see that men are more concerned to achieve wealth, financial security and life than women. They valued an entrepreneurial career more as a means to achieve wealth and having a challenging job. Second, their skills and experience which is also an important factors. Third, they are willing to take a risk to develop their business because entrepreneurs who are willing to take risk will always do the best and ready to face new challenges.

In business there are more challenges that we will face. The main challenges that may hinder an individual to get involves in a business is the financial difficulties. Then they also have low experiences in handling business management including insufficient information on business development, lacking of networking abilities, lacking of business training, problem of child care and family commitment especially for women.

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Based on the article given, there are several factors that influence or motivate a person to start a family business. First of all, the person receive tones of support from her/his family to start a business. Moreover, she/he is a risk-taker as they are willing to take any challenges or face any burden when starting a family business. In addition, she/ he is a creative and innovative kind of person. They can create a new product or even they can innovate any kind of product to make it more useful in today era. In my opinion, people who are willing and want to open a family business is because they are passionate with business. Therefore, by creating a family business they can enhance their family economy and make a better future for the next generation.

However, there are also tons of challenges that the person will face in order to start a family business. One of it and the most crucial challenge that they are facing is the financial difficulties. As we may know that to start a business, first we need to have modal. With a sufficient amount of modal therefore we could easily go through with the business but then if not then the person must be willing to start from the bottom. Other than that, according to the article, low experience in handling a business management is also a burden for a new comers. Insufficient information on business development, lacking of networking abilities, lacking of business training, problem of child care and family commitment are some examples of lack in experience in handling a business management.

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BB14110130

There are many factors constitute to a family business start-up, including person-related factors or environment factors. based on the articles given, the factor that motivate  a person to start family business is gender. It can be seen that men are more concerned to achieve wealth, financial security and life than women. For entrepreneur main driver is to quest of balanced life. The person also motivated by self-efficiency affects entrepreneurial intention and it is stronger for women than  the men. Women is motivated to start business because they prefer to be independent to have a satisfy during job to buy things that they need. With own business they can easily control all of the activities for their business. They did not have a boss that always give instruction or works to do everyday for the person that do not like to be controlled. Some person also motivated by family that already have business. They will have experiences and skills from them, they learned and felt how the feeling after gaining some money. They will try to to start a business for itself. In family business there will faced challenges to survive for a long time period. They need to develop new product based on the time. Some of the new product will have attract customer and some does not have and it will causes the company gain profit or loss.   The entrepreneur will taking this risk and always do some products to gain more profits  and challenge the other business. They also will had problems  in capital for the first time. They only can borrow from family or the saving money in the bank for start-up. For the loan bank, they need to three month financial statement for loan.

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BB14110518
the factor that motivate/influence a person to start family business are the life and family security where  the family prefer to be the boss for their own. besides, they want to earn income and they want the next generation inherit it and they dont prefer outsider to work with them. besides, the gender also influences  a person to open the business. based on the article,man are more concerned to achieve wealth, financial security and life than women. as we know own businesses is would earn income more than working with government or private. besides, the motivation from success people/business may motivate a person to open their own business such as D'herbs and others
the challenge for opening the family business are, the capital problem, where the need to find capital to start up the businesses either by bootstrapping or any other financial sources such as loan. besides, those who wants to open the business need to understand the market they entered in order to survive in a long term. other than that, they need to sacrifice time with the family, friends and their close one at the beginning of the business in order to ensure the business is successful.

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BB14110121

There are many factors constitute to a family business start-up, including person-related factors or environmental factors. In my opinion the factors that motivate/influence a person to start a family business is they want to get their own money by themselves.  As we know there are some person who didn't loved to work under someone. They rather take risk to open their own business so that they don't have to work by someone's orders. Besides, open up a family business help in increasing our creativity. For example, if you do your business by your own, you can do something that is based on your passion. It an be a platform to show world what are the different of your own product and in the market. Next, motivation by others. As we can see, they are many entepreneurs who is success in doing their own business. It can be the source of motivation to the people who is in loved to do business by own. For exmple, Almas and Dato' Sri Vida is the most succeed business nowadays.

The challenges that may hinder an individual to get involve in a business. One of the challenges is the risk of product did not get appreciation from the society.There are many substitutes product in the market. If your product not interesting and not different from others,the chance of your product getting appreciate is lower. Then, lack of capital. Not every entrepeneurs who want to start a business have a lot of money. In order to build a business, they need a lot of capital. Lastly, competition. If you cannot produce product that have different criteria and different specialist, consumer will not have interest to buy your product.

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Based on the article given, there are several factors that motivate and influence a person to start a family business. One of the factors that motivate a person to start a family business is to ensure life and family security. For example, people will concern and hope to achieve wealth, financial security and life security through starting up a business. This is because start up a business has seen as an opportunity for a person to develop and grow the business and life success besides gaining profit through the business. Besides achieve wealth, having a challenging job is also one of the factors that motivate and influence a person to start a family business. Moreover, to quest of more balanced life and the existing experience that is related to business are also the factors that contribute to the intention of starting up a business.  Furthermore, resilient interest and self-satisfaction in doing business are also the factors that influence a person to start a family business. Besides that, people prefer to be independent and willingness to be free of any control by other people or become one’s own boss play an important part in motivate and influence a person to start a family business. Besides prefer to be independent, desire and need for job satisfactions is also one of the factors that motivating people to join or start a business.

There are many factors that motivate and influence a person to start a family business; however, there are also challenges that may hinder an individual to get involved in a business. Financial difficulties are the most common barriers or challenges that may hinder an individual to get involved in a business. This is because the source of capital is very crucial during the formation for a new business. Therefore, people may not involve themselves to start a new business or may give up the intention to start a business because facing problem lacking of financing. Moreover, lack of experiences in handling business management is also one of the challenges that may hinder an individual to get involved in a business. The example of lack of experiences in handling business management are insufficient information on business development, lacking of networking abilities, lacking of business training and so forth. Besides that, lacking of knowledge of human capital on dealing or controlling the cost and low understanding on issue which is related to cost are also the challenges that may hinder an individual to get involved in a business.

All said and done, there are many factors that motivate and influence a person to start business while there are also many challenges that may hinder an individual to get involved in a business. However, if the entrepreneurs are willing to take the risk of start up a business and solve those challenges with their ability and passion; it is possible for them to enjoy profit and success in the business.

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In my opinion, the factors that motivate or influence a person to start a family business because they want to challenge themselves. Many people who like to startup want it for the challenge and want to handle a big problems. For such people, the typical job in a big corporation  is not challenging enough and too boring to be worth. Second, running our own business lets us to be more creative. For instance, you can experiment with a new website design, new marketing strategy, create innovative products that attacks a known problem in a different way, create new packaging and new advertising campaigns. Next, the person who start a new business normally they do not like to be control and  be pushed around and work in a company  which they have no way to shape the destiny. They want to work at their own time, own space, location of their choice, employees of their choice and have an active role in deciding the direction of the company. Lastly, government assistance and support also can be a motivation to a person to start a business family.

Starting a business has never been more exciting. The startup economy is rich with opportunity, innovation and potential. But at the same time, there is a challenges that may hinder an individual to get involve in a business. First of all is a product risk. Decide what you are selling. It seems like an easy thing to determine  especially for an entrepreneur. But the ability to explain what your product is, the problem it solves, and why it’s worth investing in is much harder than it seems and it must be your top priority when starting a business. This is a controllable challenges . You need to ensure the product addresses a big enough market, and the right opportunity within that market, at the right time. The next challenge is market risk. Knowing your customer why, how and where they buy related products is arguably the most important risk factor to assess before launching your product. Research this thoroughly. Identifying these routes to market, and whether you can build them effectively, in a timely fashion and within your budget, could easily determine the success of your business. If the market risk falls in your favor and you get into your market early enough, there’s no reason why your business can’t succeed. Finally, the financial risk. The end of the road for any business is running out of cash. For startups, the biggest financial risk stems from not having a Plan B in case investors. Many entrepreneurs fail because they make the mistake of betting everything on being able to secure outside financing.

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(BB 14110197)

Based on the the two article given, there are many factors constitute to a family business start up and also the challenge that may need to face when individual become entrepreneur.

As mentioned in the article, I think the financial and life security may become a crucial factor affect entrepreneur starts to take the uncertainty to gain more profit compare from stable payment every month from employer. People tends to be successful in life.As mentioned, entrepreneurship is an opportunity to develop and grow the business and life success (Noor et.al., 2014, Che et.al.,2006). Therefore, individual may take risks to get more benefit whether from self satisfactions or career satisfactions. Others, individual tends to be free of control from employer and the start up of a business may fully satisfied that.

Others, family need and support also affect the start up of a business. Family need may be easily satisfied if the business run up by family. The goal of the company may be united between the family member. This may ensuring the success and growth of a family business. A very successful example in Malaysia is Genting Group run up by the family Lim which is be the one of the richest and high profit group in Asia.

However, there are always some of the struggles become obstacle of the business that just start up.  In this century, the business start up become more easier than before. Entrepreneur may propose and ask for the fund investment from investor of bank. They may also conduct the e- business by using internet. However, globalization become the challenge to the entrepreneur that wanted to start up the business. The industry business may be competitive and the individual need to be more intelligent in marketing strategy and also innovative in product manufacture.

And, the political issues may become the common risk that need to be face by the entrepreneur. Entrepreneur need to know about the political issues may be unpredictable or predictable. Therefore, most of the investors will tend to invest in the stable country to ensure the business start up in a stable environment with protected by the government law.

Therefore, the business starts with many reason and it will face some uncertainty. However, uncertainty brings the profit and benefit to entrepreneurs. As a entrepreneur, brave to take the uncertainty risk become most crucial character.

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Bb14160868
Based on the articles given, the factors that motivate or influence a person to start a family business, first, interest factor. Interest and self satisfaction efficancy affects entrepreneurial intention, to become one's own business and want to be independence and wiling to take risk. Beside, existing experience can help a person venturing into business. Second, factor of adequate capital. An adequate supply of resources and readily available. Next, factor family, an encouragement from family to inherit the family business. Related to life and family security. Lastly, location factor. The location are convenient and strategic.

The challenges that may hinder an individual to get involve in a business. First, experience and skills. Less experiences in handling a new business such as english language. Second, Competition. Competition with other businesses that have been successful, have the capital and the ability. Besides, time management and activities is a barrier of challenges for individual involve a business. The element in the activities organized and fit the business conducted. Next, lack of capital. Require additional capital and the number of workers. Lastly, Telecommunications and infrastructure are unsatisfactory.

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Based on the article given,factors that motivate/influence a person to start a family business are life and family security which implies that everyone wants to be successful in life .Entrepreneurship is an opportunity to develop and grow the business and life cycles.Besides,gender differences also influence a person.Mens are more concerned to achieve wealth ,financial security and life than women.Skills and experience plays a significant relationship between the relatednes.In addition,women are more prefer to be independent than men.Women desire to be independent and the need for job satisfaction are noteable motivating factors to join business.Lastly,resilient interest and self satisafaction.Self-efficacy affect entrepreneurial intention and it is stronger for women than men.
However,there are challenges that may hinder an individual to get involve in business.Financial difficulties is one of the main barriers during enterprise formation.Besides,regulatory in a country  such as government policies and corruption could be a challenge too.In addition,low experiences in handling business management usually among women such as insufficient information on business development,lacking of business training,problem of child care and family commitment.Lastly,low understanding on issue related to cost may hinder an individual to get involve in business.Normally,they would be uncertain and blur when it comes to issue addressing on cost which may result ignorance and adding more charges to their business.

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Based on the article given, the factors that motivate or influence a person to start a family business is financial and life security. Financial and life security play the biggest role in conducting a business. however,t can be seen from this article that men and women entrepreneur are differ from those factors. Men are more likely concerned to achieve wealth, financial security and life than women. Men are tends to have challenging job than women. For female entrepreneur, desire to be independence and the need for job satisfactions motivates them to join in a business. In addition, family support also motive entrepreneur to join business as they know their family will help and move together with them. Also, creative people will always innovate and create a new product in market to attract more customers leading them to high return. To be a successful entrepreneur, they should dare to take risks and never give up in their business. After failing, they should find their weakness and give another shot. The willingness to take risk also one of the key factors that influence a person to start a family business. Usually, the greater the success will face higher risks.

However, when a person started a business, they will face a lot of obstacles. Most people started their business with full passion but they ignore the main deal which is financial problems. Lack of financial will ruin their motivation to start up a business or difficult to manage their business. Other than that, lack of management experience will be huge obstacles since they cannot manage their resources efficiently and effectively. Lack of knowledge in financing well their cost of production will lead them to bankruptcy. Though there are many challenges for a person to achieve a good business, their passion and motivation will lead them to success if they never give up in everything they do for their business.

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An overview from the article, some of an entrepreneur participation in business to make a good platform stand  of income generation, to uplift their social status and contribution in the betterment of society.

Certain entrepreneur does the business based on the atmosphere of the thrill of succeeding together. They will choose strategic partners, mentors, core team and even first round of subsequent employee hires among the families first then the outsiders. That means they’ll get to pick the skill sets, talents and personalities of the family members want to work with. One of the challenges in this situation will be happen is in the event of a problem, giving a notice is a heavy thing to do to a family member who is involved. Especially the parents try to warning toward their children or individual to other family members. There are so many started up the family business take a passion of build the empire onto the deep heart. This motivation for starting a business is so strong. The emotional rollercoaster that so many people describe borders on an addictive rush. Entrepreneurs crave the feeling of starting something new, change the status quo, creating value, generating wealth. It’s what entrepreneurs did until they succeed.

From the start, the plan should be prepared with detailed and have a backup plan for Businesses trip to get the business run smooth and efficient. However, some of the problems and challenges cannot be avoided. Business fund is one of the major challenge in any businesses. Most of the businesses need a finances injection of some sort to help it get the resources it needs. For instance, Dnars Skincare, the company Rohban Trade Co., Ltd has the advantage of leveraging the experience and beauty care and health tips inherited from ancestors, she has decided to issue its own products starting in 2011. She got finance from the family too.
Moreover, they are lack of knowledge and did not know how to plan the business. The true value of business planning is to identify the problems and plan around them before they happen, rather than getting blindsided by them when the business has already been set in motion.
Business planning is a way to view the business in a holistic way to help you align the vision for the product that delights the identified target audience, goes after a big-enough market with an effective-enough strategy to earn revenue and turn a profit.

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Based on article given the factor constitute that motivate or influence a person to start a family business is to constitute the whole of enterprise in which an entrepreneur or next generation  CEO and one or more family members significantly influence the firm. they influence it via their managerial or board participation, their ownership control, the strategic preferences of shareholders, and the culture and values family shareholders impact to the family business. Participation refers to the nature of the involvement of family members as part of the management team, as board members, as share holders or as supportive members of the family foundation. culture is the factor which is culture is the collection of values that become embedded in an enterprise as a result of the leadership provided by family members. Other than that, ownership control refer to the rights and responsibilities family members derive from significant ownership of voting shares and the governance of the agency relationship. In environment factor that influences for someone starting a family business is comes from family members, manage a business is introduce with a new idea or product and innovation product that relate to customers. However willing to take a risk is also make entrepreneur like to starting a business.

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Based on the article given the factor that motivate or influence people to start a family business is depend on their life and family security. Its mean people want start a family business when they needs of money, wants a good life or they have personal problem. Besides that, gender different also motivate or influence to start a family business this because male and female have their own responsible in their own family. Female are more likely to involved into business as a means of balancing between work and family demand and also they know that experience can help them succeed in business. In addition, the successes of female in family business are more likely to be influenced by family needs and support and the age of their children. Moreover, male are more encourage to start a business this because they have a big responsibility in family.

The challenge that may if individual involve in family business is need skills and experience. Once we start a family business we need more skills and experience to manage the business to prevent from bankruptcy. Other than that, the challenge that may individual face is financial support. This because,  when we start family business we need a much of money to start a business like rent of the premise, material that we use in business and the wage of worker. When we start business we may borrow from the bank. And this process is not easy to approve without permanent job.

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(BB14110727)
Based on the article given, the factor that motivate or influence a person to start a family business is motivations and business survival and sucess. The analysis has been able to connect motivationsto survival as well as to a range of business outcomes, for those business that are still active, such as an expectation in job growth as well as actual innovation and exporting activity. Overall,the key motivational influences an business survival were closely related to "challenge", "financial" and "family" and "legacy" motivations, but less so to oppurtunity and necessity motivation. Besides, correlates of motivationslike demography and start-up situations. Motivations for entrepreneurship are most strongly correlated with entrepreneur's socio-demographic characteristic

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NOR SHAFIKA BINTI MOHAMED SHAH (BB14110473)

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NOR SHAFIKA BINTI MOHAMED SHAH (BB14110473)

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Based on this article, in my opinion the factor that influence a person to start family business in their life is depend on life and family security. It is because every entrepreneurship wants to be successful life especially when do a business. In term of difference gender the man is more like to achieve wealth and face a challenging job rather than women. The influences a women gander to making a business is come from motivation. More women motivate to do a business it’s comes from self- efficacy it’s because motivate is more important thing for women to start a business rather than man. The other main point to achieve for someone doing a business because they need to be independence, it’s because more people venturing into the business because they need to be independence and willing to be free without any control by other person. This independence life is more related with women because they desire to be an independence and job satisfaction with motivation factor.  In environment factor that influences for someone starting a family business is comes from family, friends and so on. To manage someone doing a business is introduce with making a new product and innovation product that relate with consumer taster. However willing to take a risk is also make entrepreneur like to starting a business.

In business challenging most people face a difficult thing in financing, it’s because they not have enough money to growing their business that why most of them like to do a loan but it still difficult thing to making a loan with government. The next barrier that having faces mostly in entrepreneur is competitive market and low experience in handling a business such as insufficient information, lacking of network ability and business training.

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The factors that motivate / influence a person to start a family business is environmental factors such as family, friends and other relatives. Secondly, develop new products among young entrepreneur because consumers want the varieties in products or services offered. Next, willing to take risk, this is because who are willing to take risk will always do the best and ready to face new challenges. At the same time, they want to ensure the life security of their children I n the future by providing successful business and also prove that they can succeed.

The challenges that may hinder an individual to get involve in a business is financial difficulties which is lacking of financing, regulatory had badly effect on the growth of business. Other than that, gender, especially women, they have low experiences in handling business management including insufficient information on business development, lacking of networking abilities and business training, problem of child care and family commitment. Apart from that, the dishonesty element which is against entrepreneur policies in the financial market while dealing with obtaining a loan, interest rate charged, and collateral obligatory towards gender differences. Next, the political factors such as corruption happened in Russia seemed to encourage the investment and technology however this will decline in products and services prices which may threatening the income to business entrepreneur. Last but not least, knowledge of human capital on dealing or controlling with cost is crucial in portraying the result obtained in their business revenues. It indicated that part of the business barrier could arise from low understanding on issue relating to cost as well. Business owner frequently uncertain and blur when it comes to issue addressing on costs which may result of ignorance and adding more charges to their business.

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Based on the articles, in my opinion that the factors that motivate/influence a person to start a family business is related to life and family security. In terms of the gender differences, it can be seen that men are more concerned to achieve wealth, financial security and life than women. Other than that, skills and experience is also an important factors in the development of women entrepreneurs. Resilient interest and self-satisfaction in doing business are also one of the primary motives why there are many people involved in the business. One of the main motives why people going into business because they prefer to be independent. This is due to the fact that most of us detestation to receive instructions from others. This means that more people are venturing into business is because the want to be independence and willingness to be free of any control or become one’s own boss.

The challenges that may hinder an individual to get involve in a business is growing entrepreneurial businesses in today’s competitive market is a most challenging task. Once the decision made to start own business and follow the path of entrepreneurship, a person may realize that they started an adventure where they will face different obstacles while running up their business. In general, financial difficulties were reported by all potential new business owners to be the main barrier encountered during enterprise formation. Another hurdles in improvement of the business especially among women are, they have low experiences in handling business management including insufficient information on business development, lacking of networking abilities, lacking of business training, problem of child care and family commitment.

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(BB14110723)
Based on the article given, the factor that motivate or influence a person to start a family business is financial and life security. Family business can give there is a better and stable income. Besides that, the factor that motivate or influence a person to start family business is included want to start new life. so start your own business can change we life to become more independent in order to find time with loved ones. Although, family business has it own challenge. It is more independent than working under someone else. Other than that, work step tragedy also influence a person to start a family business. Nowadays it is quite difficult to find work because of the level of education required is quite high. So indirectly, family business is the only thing we can do to earn a living. A business success and development will motivated a person to start a family business. The environmental also influence to start family business to improve the need and business

The challenge that may hinder an individual to get involve in a family business a capital problem to start the business. They do not have sufficient capital resources that require them to make a loan from a bank and borrow from relatives. Other than that,the challenge that hinder an individual to get involve family business is lack of motivation and incentives. Indeed saw light of these factor but try to imagine eager to start a business plans to family. Difficult to obtain financial resources is also challenge to get involve in an business. It is not limited to financial aid through bank or financial institutions. The regulatory of government like government policies and corruption also can give bad effect to the growth of business.

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Starting up a family business is not easy. Before the empire of family business is built, the entrepreneur, or informally known as the initial idea creator in a family tree, must develop an interesting idea that will be accepted by the other family members. This will be followed by a clear mind about what he will do and how he leads to success. Normally, ideas are contributed by some incidents and factors. From my point of view, there are a few factors that lead a person to start a family business. These factors differ among men and women entrepreneurs as gender differences brings a unique attribute to those factors. First and foremost, the major factor that influence a person to start a family business is financial and life security. However, both men and women weight this factor differently. Usually men are more concerned in wealth, financial and life security in compared with women. Besides that, self-efficacy affects their intention to start up a business and it is stronger for women than for men. Desire to independence and the need for job satisfactions motivates women to join business. In addition, family support enables to produce massive motivation for an entrepreneur as supportive family members are willing to help and move together. Also, innovation and creativity play an important role since creative people can build up a family business easily and create a new market to attractive more customers, leading to a higher return in terms of profits. Furthermore, the willingness to take risk can be considered as one of the key factor that influence a person to start a family business. Greater success gained as the risk is higher. Somehow men valued wealth higher than women, so they tend to accept more challenging job in compared to women. Last but not least, the age of children defines the motivation of a person partially to ensure the business in the future.

Despite from all those motivation factors, there are some underlying challenges that may hinder an individual to get involve in a business. Many new starters in business face financial difficulties especially when they are dealing with multiple type of loans. Most of the people started their business with full passion but they tend to ignore the main deal, which is the financial problems. All these might lead to the failure of starting a new business. Similarly, some individuals face the challenge of managing an unfamiliar management causing them to be cast aside by the successors. This happened especially among women as they have lower experiences in handling business management. Besides that, political factors seem to play an important role since starters are not able to survive if there are corruptions from certain businessmen happened. Also, ethical issues challenges entrepreneur to start up a business. For instance, dishonest in obtaining a loan or discrimination among gender differences might lead to changes of decision from the entrepreneur. Lastly, frequent uncertain and blur when it comes to issue addressing on cost may result of ignorance and adding more charges to his business. This challenge most of the new starters as many of them are not sensitive with the changes of the input prices  resulting in unnecessary extra cost chargers. Though there are many challenges and difficulties that will be faced by the entrepreneurs when they start a new business, the motivations will lead them to success as if they stick to their code.

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In my opinion, based on the articles given, the factors that contribute a person to start a family business because for their life and family security. Family business is an opportunity to bring life success and wealth.Gender different also motivate to start a family business. This is because male and female have their own reason to start a business. Female are more likely to involved into business as a mean of balancing between work and family. While, man are more encourage to start a business because of their responsibility in family. Besides, independent also one of the factor that contribute a person to start a family business. independent is important because most of the people detestation is to follow instructions from others.  Next, family support also can influence the person to start a family business. Family support enables to produce massive motivation for an entrepreneur as supportive family members are willing to help and work together.

There are also some challenges that may hinder an individual to get involve in a business. In my opinion, the lack of financial is the most popular risk to start their business. Entrepreneurs must have enough financial to start and run a business. Failure to obtain adequate capital is one of the factors that cause them to fail to start the business. Capital can come from your own savings or loans from friends or relatives or from the bank. The entrepreneur who are just in their first of business have to face with the dissatisfaction by the government due to the lack of criteria in their business, also against the policies imposed. Next challenge that may hinder an individual to get involve in a business is lacking of experiences. Last but least, as a success entrepreneur, they also must face all the challenges and willing to take the risk.

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Based on the article given and in my own point of view, the main factor that motivates a person to start a family business is related to life and family security. Family business is an opportunity to bring life success and wealth. In term of gender differences, the factor to start the family business is also different. For the male entrepreneurs, they might want to want to pursue a more balanced life in family business. They also like the challenging work and think the business is a good way to get more income. For female entrepreneurs, motive is more important to them to start the family business. The motive of female entrepreneurs is to balance work and family demand. The other reason is they prefer to be independent. Most of the people detestation is to follow instructions from others. Besides, the environmental factors like family, friends and relatives can help to improve business achievement. Family need and support is always the most important towards business achievement. Skills and experiences of a person can also help a person venturing into family business especially female.

The challenges that may hinder an individual in family business is financial problem. Financial difficulties became the main barrier encountered during enterprise formation. The lack of financing will affect the development of business. Moreover, regulatory of government such as government policies and corruption also bring bad effect to the growth of businesses. Not only that,  another challenges that always faced by female in improvement of the business is low experiences in handling business management, For example, insufficient information on business development, lacking of networking abilities, lacking of business training, problem of child care and family commitment. They need to improved their business management and to willing to take risk so that they can face the challenges.

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Based on the article given, in my own point of view, one of the factors that motivated one starts a business is their financial and life security. Most of the people will start their own family business if there is better and stable income which means their life will be more secured in the aspect of financial status.  Besides that, business success and development will motivated a person to start a family business too. A business which is success and have a great opportunity in their development, it will become an attraction for them. Moreover, most of the people like to start their own family business because that can manage to work and take care of their family at the same time. They will be more flexible in manage their time and easily to take care their family members when work in own business.  Family need is another factor that influence a person start their family business. This is because a family business is only managed by own family member, so it will be more easily to fulfill a family needs.

However, when a person starts his/her own family business, they will face a lot of obstacles. One of the challenges that they will face is low experience in management. Lack of management experience will be a huge obstacle. They cannot manage all their resources efficiently and effectively. Furthermore, lack of knowledge on control and reduce cost will be another challenges. When they have no idea in saving a cost from a production in a business or cost for managing a business, it will lead to bankruptcy. They should know how to control the cost then it will help business save a lot in term of money and time. Last but not least, financial status is another challenges too in managing a family business. Without a stable and high financial status, he/she is very difficult to manage the business. Therefore, they will try to lend from bank, family members, friend or even illegal and undocumented financial company. Sooner and later, it becomes a dept and burden fro them. While they fail to back back those money, it lead their business to bankruptcy.

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In my opinion, the factors that motivate or influence a person to start a family business is due to different gender has different motivate based on the articles given. For female entrepreneur, they  influenced by family needs and support and the age of their children because they are more likely to engage into business as a means of balancing between work and family demand and  they also believe that their existing experience can help them succeed in business. But for male entrepreneur, their motivate is from financial and life security because they more concern about wealth, financial security and life. In addition, experience, resilient interest and self-satisfaction in doing business, and prefer to be independent are also the factors that motivate a person venturing into business based on the article.

The main challenge that may hinder an individual to get involve in a business is financial difficulties when running up business. In additional, female entrepreneur will face more challenge than male entrepreneur because they have  low experiences in handling business management including insufficient information on business development, lacking of networking abilities, lacking of business training, problem of child care and family commitment. Moreover, the political factors also is one of the challenge that entrepreneur need to face. It is because it will affect decline in products and services prices which may threatening the income to business entrepreneur if happen corruption.

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Based on the article given, in my own point of view, one of the factors that motivate or influence a person to start a family business are financial and life security. If a business or job can’t offer enough money or income to subsist. Furthermore, the factor that motivate women to start a family business rather than men is can manage to work and take care of the family at the same time. So that they no need to ask for leave specially when their family have some problems to solve. Besides that, I think that family needs is one of the factor that influence a person to start a family business too since they not disburden to let other people to manage their own business. So they need to choose one of the member from the family to be successor.

There are also some challenges that may hinder an individual to get involve in a business. In my opinion, I think that one of the challenge is interest. If someone isn’t interesting with that business, he or she don have the motivation to conduct it and finally it won’t be succeeded. After that, knowledge is another challenges that may hinder an individual to get involve a business. If someone totally no knowledge on how to control and reduce cost of the business, the business will be risked since there will be happened a lot of problems. At the ended, it will be bankrupted if really no potential to fix the problems. Moreover, low experience in management is also one of the challenge that may hinder an individual to get involve a business since we need to handle or manage many things if want to succeed a business or earn more money, such as human resources management, cost reduction, suppliers, and so on.

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NURUL FAZIRA BINTI MUHAMAD NIZAM (BB14110540)

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NURUL FAZIRA BINTI MUHAMAD NIZAM (BB14110540)

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In my opinion, based on the articles given, the factors that contribute a person to start a family business because they wanted a comfortable life in the future. They have their own ideas and creativity in producing new products or processes of existing products to the new products with multiple uses. In addition, those who wish to start a family business is more likely to be independent because they does not want to rely on the top, otherwise they want to lead their own business. Another reason they starting a business in this type because only on the basis of interest and would like to give satisfaction to themselves. Not to mention, they're looking forward to this because, before they start a business in this type, they have thought to give a better life to their children and grandchildren in the future. A person who wants to start a family business is certainly someone who is willing to face a variety of risks in their business future. Support and encouragement from family and friends is also one of a factor that is important to someone who wants to start a family business.

As entrepreneurs of family businesses, they also have some obstacles that they need to face to the success of their business. Among the obstacles and challenges faced by entrepreneurs in family businesses are because of financial constraints. They do not have sufficient capital resources that require them to make a loan from a bank and borrows from relatives. In addition, they also lack of trust in their employees and do not have friends in the same field to help them promote their business. Another obstacles in developing their business is they do not have any experience in operating a business before.

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Based on the articles given and in my opinion, one of the factors that may motivate a person to start a family business is having a challenging job especially the men whose are always determining to the challenges. Other than that, there are balancing work and family demands factor that influencing women to start a family business. Furthermore, the people who have existing experience, skill, interest and self-satisfaction in related field would like to start a family business. Besides that, the people who prefer to be independent have the motivation to start a family business. At the same time, the support from family and friends could strengthen the confident of a person and be a factor to start a family business. In addition, the economy may influence a person to start a family business as well when the economy is good.

The challenges that may hinder an individual to get involve in a business is the financial problem such as the loan interest. Besides that, lacking of experiences, networking abilities and business training could be the barriers to get involve in a family business. Furthermore, the political factors such as corruption happened in Russia may become a barrier to start a family business. At the other side, dealing with business malpractice is one of the challenges found by the men. As addition, cost control such as the cost of human capital, technology, and materials need to be control depending the revenue make by the business may hinder an individual to get involve in a business. At the same time, economy could be a challenge to start a family business as well when the economy is going down. Last but not least, the competition of the market could be one of the barriers to start a family business.

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Based on the articles given and in my point of view, the factors that motivate/influence a person to start a family business is to have life and family security being ensured. Besides that, people mainly men valued an entrepreneurial career better than achieving wealth and having a challenging job. Another factor a person want to start a family business is to have a more balanced life. Women normally wants to balance between work and family. Moreover, people start family business because they have existing experience and skills that can be used to develop their own business.Maybe they have gained some knowledge in their previous job so they are able to apply it in their own family business. Not only that, they also will be getting resilient interest and self-satisfaction in their career by doing business. They also prefer to be independent and willingness to be free of any control and to become one's own boss. They can decide to do and manage their own business the way they always wanted.

There are also challenges that may hinder individuals to get involve in business despite of all the listed factors that motivate people to start family business. The main and most common challenge is financial difficulties faced by them in dealing with their business. This is because they need a sum of fund to start the business and is the most critical period since it will determine its continued existence and ensure the success of next level of growth and expansion. Other than that, the challenge such as low experiences in handling business management which includes insufficient information on business development, lacking of networking abilities and business training as well as problem of child care and family commitment. All these challenges can cause individuals to hinder themselves from starting family business. Another challenge is the knowledge of human in capital on dealing or controlling with cost is low will hinder people away from starting business. Besides that, they also find it hard to keep up with the market when business just started. Normally people are afraid and fear of failure in starting a new business that they may feel incompetence and plagued by self-doubts. In conclusion, starting a family business can bring benefits to an individual and their family but they will have to face some difficulties in the beginning so one must be able to take risk to pursue the dream that only one can get when it is pursued.

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In my point of view, based on the articles I’d read, people decided to create their own business mainly because they want to ensure their financial and life security. They tend to think of what will happen in their life, maybe at the future, especially with the current economy situation. They want to have a financial resources which can guarantee a good life and to ensure the life security of their children in the future by providing successful business and also to prove that they can succeed. Also, at the same time, they want to manage in working and taking care of their family. Usually for people who work under the government, their amount of pension received upon retirement might not be enough to cover their family later. Some of them want to be self-reliance or prefer to be independent as most of entrepreneurs are a very creative people and wouldn’t want to hide their creativity, thus leads to their business success and development after feeling their accomplishment in offering services or striving hard for an excellence to the consumer who are attracted to their own innovations. It is also about their interest or passion in creating their own business, which can be proved when they are willing to take risks that might rise in their journey to make their business successful. This is because entrepreneurs who are willing to take risk will always do the best and ready to face new challenges.

Yet, to make a business more successful and provide the owner a satisfaction after pouring out all of their energy to make it a dream come true, more challenges will be faced by them and if they are not capable enough to overcome it, the business will fall. Mainly, soon-to-be entrepreneurs will encounter a financial difficulties during enterprise formation. The early stage of business formation known as the most critical period because of their limited modal and the result from it will ensure the achievement on the next stage, the growth and expansion, which also might be the downfall of business. Among women, mostly have a low experiences in handling business management including insufficient information on business development, lacking of networking abilities, lacking of business training, problem of child care and family commitment. Thus, lead to more stress and causing them to give up their business as these criteria will test their capability to become a successful entrepreneur. Not only that, dishonesty always occur when it comes to obtaining a loan, interest rates charged and collateral obligatory which is mostly related to personel issue such as gender differences. In addition, banks always doubting the one who might not be able to make repayments and decided to disapproved the loan application. Corruption is a common problem that always happen either by the owner or the workers, which is a threat for the entrepreneur’s income. Lack of knowledge in business is crucial, such as low understanding on issue relating to cost which is related to the result obtained in their revenues. Not to mention about less skilled in foreign languages, especially English and Chinese among workers. Entrepreneurs also worried about the fact that there might be less interest or feedback given by the customers towards the products or services provided due to the competition among the new company and the existing ones. The entrepreneur who are just in their first year of business might face the dissatisfaction by the government due to the lack of criteria in their business, also against the policies imposed.

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Article 1: Factors for Small Business Startup

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Article 1: Factors for Small Business Startup