Evaluating Entrepreneurial Motivations for Sustainable Development

This essay critically evaluates the motivations of entrepreneurs to contribute to sustainable regional development, focusing on enterprise characteristics, entrepreneurship, and entrepreneurial motivation. It explores the role of enterprise within economics and society, including social entrepreneurship and eco-premiership. The essay discusses enterprise origins, problem-solving, and the exploitation of ideas, emphasizing the importance of innovation and value creation. Internal and external factors influencing entrepreneurs are examined, including self-motivation, education, family background, influence, resource availability, and technological advancements. The essay highlights the contributions of entrepreneurs like Mr. Perkins to local economies, emphasizing job creation, innovation, and tax contributions. It underscores the importance of entrepreneurial activities in fostering sustainable regional growth and solving practical, financial, and social issues.

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Introduction
This essay demonstrates the motivations of entrepreneurs to contribute to sustainable regional
development. It also evaluates the nature of the enterprise, entrepreneurship, and entrepreneurial
motivation that could be imperative for the business and get higher competitive benefits. In
addition, it evaluates the role of enterprise within economics and society, including social
entrepreneurship and eco-premiership.
Critically evaluate the motivations of entrepreneurs to contribute to sustainable regional
development
Enterprise could consider many characteristics like enterprise origin, problem-solving, exploit
the idea, fill the gap, and explore knowledge (Sweetman & Pearson, 2018). These are discussed
as below:
An entrepreneur is a person who categorizes risks to evaluate the earning expectation of the
profit leanings. It would lead the firm to make a higher profit in limited time and cost. Enterprise
could evaluate the issues of the society members and make a reliable decision. Moreover, it is
also examined that enterprises could consider the internet to examine the behaviour of consumers
towards products and services (Hjorth & Holt, 2016). It could lead an enterprise to retain their
consumers for the long term. A larger number of the organization could exploit their idea and
make an invention in the regional as well as the specified area. Once the invention could be
turned into the products and services then it could lead the firm to make a higher profit.
Enterprises could start their business to determine the gap among the existing and emerging
market. Spec savers use many online methods and reach their valid caisson. Enterprises could
enter in the market because of producing products and services at a cheaper rate as compared to
the existing market firm. It could support to make a huge amount of the existing cost.

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Entrepreneurship could lead the firm to make their unique image in the marketplace. It considers
many characteristics named economic activity; entrepreneurship involves innovation, goal-
oriented activity, risk bearing, and value creation. These are discussed as below:
Entrepreneurship could be an economic activity because it entails the enterprise operation. It is
generally concerned with the distribution and production of products and services (Aliaga Isla,
2015). It is effective to make a favourable decision in the context of the organization.
Entrepreneurship considers many factors like revolutionizing, changing, transforming, and
introduce new structures. Moreover, it is also examined that entrepreneurship is an innovative
activity as it considers new and systematic better. In addition, it is evaluated that innovation
might take several procedures like a new good, a new source of raw material, a new method of
production, and manufacturing (Acheampong & Esposito, 2014). Moreover, it is evaluated that
innovation is the procedure of doing something in a systematic manner. Innovation is an
imperative tool of the entrepreneurship. Thus, it is examined that entrepreneurship is the process
of getting higher competitive benefits.
The entrepreneurship could rely on goal-oriented activity that leads enterprises to make a huge
amount of profits and satisfy consumer's needs. Thus, it is evaluated that goal-oriented activity
could be imperative for accomplishing the desired goal in the least time. Thus, it is examined that
entrepreneurship activities do not rely on the paper decisions entrepreneurship because it relies
on the goal-oriented acts.
Value creation is also an imperative part of the entrepreneurship as it will permit to get higher
competitive benefits in the least time and cost. Moreover, entrepreneurship could facilitate to
conduct many activities named launching of new goods and services, approaches, transactions,
technologies, and resources to contribute in the community (Gereffi, Frederick and Gereffi,

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2010). Furthermore, it can also be examined that entrepreneurship is the resources that are
changed into outputs like products and services. In addition, it is evaluated that transformation
procedure could be created to get higher benefits.
Enterprise creation is considered as one of the major characteristics of the entrepreneurship
which leads to the creation of the enterprise. The entrepreneur keeps the motive which helps
them to pursue the opportunities for the create value and innovation which reflects in the actions
and efforts. Entrepreneurship offers a creative response to change that takes place in the
environment which majorly include the innovation an something innovative for the improved
and new product.
The element of entrepreneurship is the risk which is considered as inseparable and inherent.
Entrepreneurs who perform their operations in the uncertain market already determine the
uncertainty of future. In addition, entrepreneurs who look for the profit can also face the
possibility related to the loss in the market due to competitors (Kirzner, 2015).
There are two factors that mainly influence entrepreneurs like external as well as internal factors.
These are discussed as below:
Internal factors could be a factor that could consider many factors like the need for self-
actualization, Positive attitude, Self-motivation, Enthusiasm, Education, Background, and
Financial background. It could influence entrepreneurs to start their business. These are
discussed as below:
Entrepreneurs could be motivated by many characteristics of an individual named self-esteem,
social, safety, and physiological need. It could lead to get higher benefits in the least time and
cost. The positive attitude of an entrepreneur could also motivate them to start their business in
the least time (Burns, 2016). Moreover, it is also examined that the positive attitude of an

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entrepreneur could also facilitate them to make a positive atmosphere that would be imperative
for the accomplishment of the desired goal.
Self-motivation to do something big is one of the major factors that motivate the entrepreneur to
come up with the new idea and to serve valuable products and services in the market to the target
audience. The enthusiasm of the entrepreneur towards the business helps in starting a business
and achieving the profit which is must for the survival of the business operations. In addition, the
enthusiasm of the entrepreneur is the only key to the success in the near future (Rigolizzo &
Amabile, 2015).
Education is one of the factors which motivate the entrepreneur to perform the operations of the
business. The education shows the right way and method to make use of the money which
contributes to success. An educated person always remains motivated for the steps or actions that
they are taking for success. The family background of the entrepreneur contributes to motivating
them for the steps that they are taking for the success of the business. An educated family
background with good financial stability helps the entrepreneur to maintain the funds to start the
business. Along with this, strong family background offers the help and suggestions which leads
to success. The financial background supports and motivates the entrepreneur to open their
business in the market. In addition, they have more chances of success because they can borrow
the funds with no interest (Kuratko, Morris & Schindehutte, 2015). In addition, they work with
less stress of earning amount at the initial of business because they have a strong background.
The external factors that could be considered include influence, availability of resources, the
demand of the product, technology advancement and many other. These factors are discussed
below: -

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Influence motivates the entrepreneur to open the business and this influence occurs from family
members, friends, society members and many others. The extent of influence of the person can
lead to the effect on the character, behaviour and development of entrepreneur (Corbett,
Mitchell, Shelton & Wood, 2018). The availability of the resources in the market is one of the
factors that influence the entrepreneur to open the business. These resources include land, labour,
money, machinery, material and many others (Rajabi, Brashear-Alejandro & Chelariu, 2018).
Though an entrepreneur majorly needs the creativity, intelligence, commitment and other factors
but sometimes resources also become the obstacles for an entrepreneur.
The rise in the demand of the specific product motivates the employee to open the business
operations with the innovation. Thus, the demand in the market motivates to start the business
and gives a satisfaction for the success. The technology advancement is one of the external
factors which motivate to open the business. In the current era, there is a tremendous rise in the
use of technology in the business which makes the operation easy and contributes to success. In
addition, the effective use of the technology will help the entrepreneur to earn high revenue
(Gassmann, Enkel and Chesbrough, 2010).
Entrepreneurship is considered as creative and forward thinking of the person to run the
business. Though, the business run on money and entrepreneurs are often an emphasis on a
major deal with more than their bottom line. The entrepreneurship contributes to society by
leading the path and by inventing the innovative solution related to the practical, financial and
social issues.
One of the entrepreneurs that have been selected for evaluating the motivations of entrepreneurs
to contribute the sustainable regional development is Mr Perkins. Mr Perkins is an entrepreneur
who was born in Llanelli, Carmarthenshire and grew-up in Ammanford. Ammanford builds up in

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Specsavers with his Bristol-born wife of Dame Mary to whom he met while studying optometry
at Cardiff University (BBC News, 2018). The entrepreneur supported the company who is
increasing 61% in wealth as one of the biggest in the rich list for the years. This wealth offers Mr
Perkins and his family a fortune of more than £1.4bn. The family has overtaken the computer
and telecom entrepreneur Sir Terry on the Welsh rich list. The same is considered as the third
after the wealth dropped by£150m this year to £1.04bn (BBC News, 2018).
Local economies realize that there are different benefits from the activities that are undertaken by
the local and small businesses. Small business can also realize the competitive advantage by
offering employment to the local people in their marketing and service activities. This has been
found that the small business offers the most important benefits which include a boost in
discretionary income an employment in the community with a rise in tax income for the local
government and a loyal customer base for small businesses.
Entrepreneurs make use of innovation which is essential to form the products and services in the
market. In addition, Mr Perkins, an entrepreneur also makes use of the innovation to solve the
problems faced by them in the market. The innovation helps the entrepreneurs to make the profit
which is must for the survival of the entrepreneurs and they don’t have the luxury of being
impractical. The products and services are essential to be functional and it is required to be
designed cost effective for the customers. In addition, the products and services should appeal to
enough people for making it feasible to create the products. Though, this is the fact that the first
computers were formed in the university and government settings as it took an entrepreneur who
adapts the idea of widespread appeal with the practicality (Gassmann, Enkel and Chesbrough,
2010). Similar to this, the government may have mandate environmental standards that enforce
the reach of the business and individual to threshold the level of sustainability. Though, when

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entrepreneur like Mr Perkins brings the products that are genuine in appealing and for offering
real solutions to the world gives the idea to get more considerable more traction.
In the local economy, the personal advantage that a business is maintaining is to boost in the
employment opportunities in the region. The rise in the employment level of the country affects
the living standard such as a rise in disposable income, foreclosure rates of homes and the new
small business start-ups (Muñoz & Cohen, 2018). Mr Perkins, an entrepreneur employ people in
the local community can stimulate the word-of-mouth or personal selling advertisement for
generating awareness for the company. This has been assuming that the company treats their
employees in a positive manner. In addition, the employment of the local employees for the
entrepreneurs cultivates the sense of community which is essential as this can leads to the brand
of local business.
The business which is operating their operations in the local market contributes significantly in
all the portions of taxes in the United Kingdom. The taxes which are majorly paid by the
entrepreneurs include income tax, property tax and employment tax. The rise in the businesses
opportunities for the entrepreneurs in the local market can boost the tax income for the local
government by raising funds for the repairing the roads, improving public services, developing
schools and many other.
The access to the services is considered as one of the effective regional development which
reflects the contribution of entrepreneurs. The standard of living rise with the rise in local
employment, presence of numerous business types contribute in raising the living standard of
people, the wide range of services and amenities also increase the access to services (Biberhofer,
Lintner, Bernhardt & Rieckmann, 2018).

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The regional development also increases the political advantage as entrepreneurs in the market
for the connection with the local community that helps them to lend a hand in community-
focused actions related to politics. The entrepreneurs can contribute in the fund and organizing
the campaign majorly for the lobbying, letter-writing and different activities related to politics
that influence the legislator on different issues that create an impact on the local community.
Entrepreneurial in the market can motivate for the right candidate for developing nation.
The entrepreneurs who form the businesses with a local focus maintain an advantage of
cultivating a loyal customer base mainly when their services remain in the threat by the big-box
chain stores in the area. Therefore, the entrepreneur effectively needs to manage a certain level
of suitability in finance which helps in maintaining a positive reputation (Biberhofer, Lintner,
Bernhardt & Rieckmann, 2018).
Conclusion
With respect to the above discussion, it can be concluded that the entrepreneurship could be
imperative for taking the right steps towards sustainable regional development. The report
includes the concept of the enterprise and entrepreneurship with the support of their nature in the
business environment. Along with this, there is discussion related to the internal and external
factors that motivate the entrepreneur for starting the business. In the end, the report critically
evaluates the motivation factors that help the entrepreneur for the contribution towards the
sustainable regional development. This discussion has been done considering the local
entrepreneur Mr Perkins.

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