FACTORS IN THE GLOBAL ENVIRONMENT THAT INFLUENCE ENTREPRENEURIAL INTENTION AND OPPORTUNITIES

 1. Global finance

Globalization has brought in new opportunities to entrepreneurs in terms of international finance.

Global finance presents opportunities in the areas of international payment system, current exchange rates and international fiancé bodies like World Bank, IMF,

International Dispute commission and International Insurance policies.

2. Global trade

Increase in trade across national boundaries provides opportunities to different individuals and industries as well as negative impact to other industries. Therefore entrepreneurs have to be alert to global changes in order to take advantage of those opportunities/benefits. These include;

- Accessibility to international markets

- Easier access to information through vast communication networks like

world wide web at minimal costs.

- Strengthened trade agreements among regions, for instance COMESA,

EU, EAC, e.t.c.

3. Government global policy

An economy that is liberalized encourages entrepreneurs. In Uganda most sectors of the economy including investment, foreign exchange and export markets have been liberalized. This policy is endorsed by World Bank, the donor community and private entrepreneurs.

4. Democracy

Democracy implies the freedom of individual initiative and freedom of thought, speech and action. These attributes support innovation and creative recognition of opportunities which is a foundation for entrepreneurship.

5. Market openness

Uganda’s local market is small due to low purchasing power of consumers hence limiting entrepreneurial development.

However, Uganda has made substantial progress to attain impressive and above average international trade openness levels which are in line with global good practice, in countries like Chile, Columbia and Singapore, thus increasing market opportunities.

6. Export policy

A country’s export policy expands market for entrepreneurs especially if the policy is liberal. Uganda offers preferential market access to investors into European Union, U.S.A for a number of exports.

7. Import policy

A conducive import policy helps entrepreneurs to get resources that are not locally available at reduced costs.

Comments

Post a Comment

Popular posts from this blog

ROCK CYCLE - DEFINITION

  Rock cycle is the cycle in which rocks tend to change from one type to another. For instance, igneous rocks may change to metamorphic rocks or sedimentary rocks; sedimentary rocks to metamorphic or igneous rocks, etc. It is a relationship in which rocks tend to change from one type of rock to another.   Necessary conditions for rock cycle to take place First, the molten rocks are erupted from the interior of the earth and then cool and solidify to form igneous rocks. Secondly, the igneous rocks are subjected to denudation process to form sedimentary rocks. Third, either igneous or sedimentary rocks undergo metamorphism, due to prolonged heat and pressure, to form metamorphic rocks. Fourth, metamorphic or igneous rocks can undergo weathering process through erosion and transportation of sediments which are further deposited in layers in the ocean or lake floors where they are cemented and consolidated to form sedimentary rocks and vice versa. 5. Fifth, metamorphic or s...
Read more

5 METHODS OF MAINTAINING SOIL FERTILITY AND QUALITY

Image
  Soil conservation refer to measures that are taken to protect the soil from destruction . The main measures that are taken to conserve soil include maintaining soil fertility and quality, preventing soil loss or erosion, and preserving the soil. Maintenance of soil fertility and quality; The natural richness and fertility and richness of the soil should be maintained in order to ensure continued soil productivity. This can be achieved in the following ways. Crop rotation this involves changing the crops planted on the farm, by alternatively planting leguminous plants such as beans with other crops such as maize to maintain nitrogen level in the soil Mixed farming this involves planting crops and rearing animals on the same farm. mixed farming is important in maintaining soil fertility because the remains of crops are used to feed livestock while cow dung and other animals excrete are used as fertilizers for crops in the farm Mulching mulching is the act of covering the farm wi...
Read more

5 TYPES OF HUMAN ACTIVITIES

Image
  Human activities are functions, tasks, or works done by human beings over time for achieving certain purposes. In total there are five types of human activities namely primary human activities, secondary human activities, tertiary human activities, quaternary human activities, and quinary human activities. These types of human activities together with their examples are going to be explained one by one below. The following are five types of human activities Primary human activities are human activities that involve extracting raw materials directly from the earth. Examples of primary activities are farming, fishing, lumbering, and livestock keeping. Secondary human activities these are human activities that involve the processing of raw materials into useful products. These activities involve converting raw materials into finished products and are mainly performed in urban areas. they accelerate the development of primary activities because they provide the market for products fr...
Read more