An Exploration of Determinants of Entrepreneurial Characteristics, Motivation, and Challenges in Palestine

Abstract

Being an entrepreneur is becoming an anabranch in the business world. In addition, many young adults are preparing to be entrepreneurs in the future. Worldwide, many intellectuals view entrepreneurship as necessary to small-medium enterprises (SMEs) in general because it is critical to development. Micro, small-medium enterprises (MSMEs) are crucial in Palestine because MSMEs dominate the Palestinian economy. This study highlights the specific characteristics of entrepreneurship and the factors motivating and challenging people when starting up their enterprises in Palestine and dealing with these challenges and obstacles. The research method combines qualitative and quantitative tools, each of which was used to study relevant aspects. The qualitative tools used are interviews with the entrepreneurs in Palestine, while the quantitative tool included a designed questionnaire. The collected data was then analyzed using SPSS v 23. Findings indicated that entrepreneurs in Palestine are self-confident, passionately seeking new opportunities with a good network of professionals, patient, persistent, and determinant, and can adapt to change.  The results further highlighted that the most motivational factors behind being an entrepreneur in Palestine include being their boss and increasing income to have a better financial future. However, Lack of savings, political situation, competition, and the fear of risk associated with starting a business is the significant challenges and obstacles they face., Finally, Results indicate that gaining experience, developing business plans, managing financial resources, and motivating employees are the critical factors they have to consider. At the same time, they deal with these challenges and obstacles.