Entrepreneurship is an attitude that reflects an individual's motivation and capacity
to identify an opportunity and to pursue it, in order to produce new value or economic success . This attitude is crucial for competitiveness,
because new entrepreneurial initiatives raise the territory's productivity -increasing competitive pressure- and encourage innovation.
Environmental factors affecting entrepreneurship: 1. Political environment 2. Legal environment 3. Economic environment 4. Technological environment
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Labour Land Capital Entrepreneurship
The Five factors of production are:Land, Labor, Capital, Entrepreneurship and Knowledge-Land-Labor-capital-entrepreneurship-natural resources