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Analysis of Entrepreneurial Motivation in a Brassware Cluster in a Semi-Urban Region, West Bengal, India
An analysis of motivational aspects is considered important to understand an entrepreneur’s mindset and proclivity to undertake some challenging venture and flourish in the business world. In this context, this paper is based on a sample of 60 firms in a brassware cluster in Nabadwip region in West Bengal, India. The objectives are to (a) analyse the rankings of various items of entrepreneurial motivation and focus of their reliability, (b) find a correlation between motivation and profitability indices, and (c) explain the variation in enterprise profitability by the different motivation sub-indices. Cronbach’s alpha test is applied for finding the reliability of motivational items. Two-stage principal component technique is used for deriving motivation sub-indices and total motivation index; whereas, the regression analysis explains the variation in enterprise profitability. The findings involve consistency in motivational items, significantly correlated profitability with motivation index, and significant variation in enterprise profitability explained by most of the motivational sub-indices. However, the enterprise owners are facing the problems of credit, marketing, and lack of skilled labour. The government should take measures for providing short-term loan based on their performance. Further, active steps are required for opening some local training schools, arranging workshops, launching awareness generating programmes through drama/posters, etc.
Motivation, Entrepreneurship, Cluster, Profitability, Principal Component.
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