Chapter 20: Feasibility of Entrepreneurship
20 Feasibility of entrepreneurship Yvon Gasse A set of external factors, often independent of the individual, will influence entrepreneurship. Clearly, these factors interact with one another in order to create climates that are more or less favourable to business creation. It is also clear that these climates can change over time and that, to a certain extent, entrepreneurship in the past will impact on entrepreneurship in the future. Not only must the entrepreneur be aware of the desirability of the entrepreneurial act, but this act must also be reasonably feasible. Feasibility accordingly depends on a series of positive perceptions relating to the presence and accessibility of means and resources appropriate for the creation of a business. Some of these means may relate to the actual ability of the entrepreneur, but a number will relate more to the immediate environment. Here are a few of them. PERCEPTIONS OF THE ENTREPRENEUR A decision to create a business depends on the entrepreneur’s perception of the risks and gratifications involved as well as on his or her knowledge of sources of financing and the individuals and organizations that could be of assistance and provide advice. Past entrepreneurship creates what could be called an entrepreneurial environment in which the potential entrepreneur is surrounded by examples and people familiar with the entrepreneurial process; often, in fact, entrepreneurship is seen in these environments as a recognized and valued way of life (Reynolds, 1997). The importance of perceptions among nascent entrepreneurs of the feasibility of a project to...
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