Determinants of Performance of New Entrepreneurship Ventures

Different factors in Kenya have led to people exiting formal employment and joining entrepreneurship ventures. These factors can be categorized into pull and push factors. Push factors include strong desire for independence, desire to utilize skills gained in employment and capturing of emergent opportunities amongst other factors. The push factors include redundancy or retrenchment, inadequate salaries and job insecurity amongst other factors. In Nakuru, several companies have retrenched staff in the last five years. Additionally, many employees exit formal employment through retirement as well as resignations across many employers. Some of these people who have exited formal employment establish entrepreneurship ventures as means of economically sustenance. However, initial phase of the business is faced with time and energy demands on the entrepreneur, lack of formal systems, and critical challenges crucial to the firm's survival in form of customer acceptance, product capability, and decreasing levels of entrepreneurship ventures capital amongst other factors. This book examines the determinants of entrepreneurship performance amongst people exiting formal employment.