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What Factors Are Necessary for Sustaining Entrepreneurship?

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  • Hong Joo Lee

    (Department of Industrial and Management, Kyonggi University, Suwon, Gyeonggi 443760, Korea)

Abstract

Today, along with national economic growth and job creation, the need for entrepreneurship is increasing throughout all societies. In particular, entrepreneurship has important influences on national economies including reviving company economies, creating jobs, etc. In addition, Entrepreneurship or new firm formation plays an increasingly important role in knowledge-based economic development. In this study, research was conducted as follows. First, various research hypotheses were established through analysis of previous studies. Second, based on the research hypotheses, a research model is presented. Third, data were collected through questionnaire survey. Fourth, the significance of the research hypotheses through the statistical analysis and the validity of the research model was analyzed based on the collected data. According to the results, the government policies for companies and entrepreneurship has impacted funding in financial areas and business environments; this offers a positive influence on social system and environment, such as basic education in business and economy fields and good social environments for business. Lastly, these social systems are shown to have a positive impact on entrepreneurship. In addition, the results suggest an effective entrepreneurship policy.

Suggested Citation

  • Hong Joo Lee, 2019. "What Factors Are Necessary for Sustaining Entrepreneurship?," Sustainability, MDPI, vol. 11(11), pages 1-20, May.
  • Handle: RePEc:gam:jsusta:v:11:y:2019:i:11:p:3022-:d:235093
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