Self-Employment and Entrepreneurial Motivation Leading to Start-Ups

Entrepreneurs and the self-employed play an important part in the economic growth of a nation. Numerous studies have been undertaken on self-employment and entrepreneurial motivation due to their substantial contribution to economic growth. This study investigates the motivational elements of 318 self-employed individuals and indigenous company owners in Manipur, a state in north-eastern India. Our study modified Scheinberg and Macmillan's motivational scale model. To guarantee the accuracy of the questionnaire, direct face-to-face (structured) interviews were undertaken with all respondents. The acquired data were encoded and processed using the English edition of Statistical Product and Service Solution (IBM SPSS- Statistics). For this study, it was hypothesised that gender and family economic position have no significant effect on the motivational scale for launching an indigenous firm. The descriptive statistics describe the respondents. Our analysis considered both the owners and the business features. The business sales growth and profit growth were extremely impressive. The motivational scale was subjected to factor analysis, resulting in the identification of six factors: Approval, Personal Development, Welfare Considerations, Independence, Economic requirements & Opportunities, and Follow role model. In addition, the two hypotheses were evaluated using the T-test and ANOVA. Except for "Economic needs & Opportunities" and "Follow role model," there are no significant gender disparities in the results. The respondents' family economic situation was found to have a considerable impact on their likelihood of launching a new business. Thus, motivation influences the establishment of businesses by entrepreneurs and self-employed individuals.