Abstract:
Entrepreneurship is one of the important factors of economic development in general and rapid industrialisation in particular. Hence in the LDCs, entrepreneurship development becomes a vital issue. Some of the studies on the entrepreneurship development have identified capital as the predominant economic determinant of entrepreneurship development: Simon Kuznets [1985], Frederick Harhison [1956], Raumol [1968], Bela Balassa [1961], Papanek [1962], Harvey [1977] and, Pande and Mithani [1990]. But the entrepreneurship as a concept has socio-cultural roots as well. Some empirical studies have underlined the importance of socio-economic background in evolving and nurturing entrepreneurship.
