Question

Who state they started their businesses out of necessity in the US generally constitute a low percentage. What factor is often cited as a primary motivation for initiating businesses in this context?

a) Passion and interest in the industry
b) Pursuit of financial independence
c) Lack of alternative employment opportunities
d) Desire for innovation and creativity

Answer 1

Entrepreneurs in the US often start businesses driven by passion, pursuit of financial independence, and a desire for innovation, rather than the necessity due to lack of other employment.

Step-by-step explanation:

The primary motivation often cited for initiating businesses in the United States, where a relatively low percentage of people claim to start their businesses out of necessity, is generally associated with passion and interest in the industry, the pursuit of financial independence, the desire for innovation and creativity, and a wish to avoid traditional employment. For many entrepreneurs, the drive to embark on a business venture is fuelled by these motivations rather than the compulsion of having no other work opportunities. Financing for such ventures often comes from the entrepreneurs' own resources or from angel investors, who provide capital in exchange for ownership stakes in the potentially growing businesses.