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Family and close friends may also serve as role models for
aspiring entrepreneurs (Co, 2003).
Scholars believe that the desire to start a business can be
significantly influenced by parental role models and/or exposure
to entrepreneurial activities at a younger age (Drennan, Kennedy
& Renfrow, 2005).
Governmental Influence
Entrepreneurship has long been recognized as a prime mover for
economic development (Schumpeter, 1934).
It is believed that a vibrant entrepreneurial activity may help a
country to revive its slow economic growth and address social
and economic injustice (Walburn, 2005).