The impact of motivations, competencies and success factors for entrepreneurship on business performance. An analysis in MSMES in Queretaro State, Mexico

Abstract

Entrepreneurship is an activity that has become increasingly relevant as a mechanism for solving economic and employment problems faced by all countries, mainly developing countries. As a result, governments have taken a more proactive role in developing initiatives and policies to support entrepreneurs and to increase the entrepreneurial potential, in order to boost economic growth and job creation. Therefore, the main aim of this research is to determine the impact of motivations, competencies and success factors for entrepreneurship on business performance. It's a quantitative research of 429 entrepreneurs of micro, small and medium size enterprises (MSMEs), using a non-probabilistic convenience sampling method and structural modelling technique for testing the relationships. The results provide evidence that there are statistically significant relationships between motivations, competencies and success factors for entrepreneurship and business performance, which represents a theoretical and empirical framework contribution. From a practical point of view, knowledge of these factors could guide educational institutions and policy makers to create and strengthen these factors that allow entrepreneurs to identify business opportunities, reduce the risk associated with new ventures, as well as for encouraging new business creation and increasing its success rate.