Demographic and Personal Factors Influencing Entrepreneurial Success: Study based on MSMEs of Kerala

Abstract

A Study was conducted among the entrepreneurs of Kerala and one of the purpose of the study was to find the significant factors influencing entrepreneurial success. The objective of the study was to identify the demographic and personal factors that significantly influence entrepreneurial success. Entrepreneurial success was constructed by economic success (indicated by net profit and capital growth), marketing success (indicated by turnover, market size, customer base, and market share), meeting obligations (indicated by meeting statutory obligations) and psycho socio satisfaction (indicated by entrepreneurial satisfaction) which formed the dependent variable of the current study. The independent variables included demographic factors such as gender and age of the entrepreneur, age of business, and district where the business was situated, and personal factors that included birth order of the entrepreneur among siblings, formal education of the entrepreneur, district where the business was situated, ethnic community of the entrepreneur, and migrant status of the entrepreneur. The following demographic factors were found significant in the study viz., age of the entrepreneur, age of the business, formal education of the entrepreneur, district where the business was situated, and the significant personal factors were birth order of entrepreneur among siblings, family concerned father, protective mother and capital resource of the venture.