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According to Alsos and Kolvereid (1998), the high frequency of serial entrepreneurs among entrepreneurs suggests that the existing firms' owners are a dominant source of new profitable firms which are beneficial to the economy. However the serial entrepreneurs' motives could range from pull and push factors (Krieger 1994). Diversification strategies through the multiple firm ownership is an efficient mechanism for launching new ventures as well as the growth of the existing ones, that the serial entrepreneurs keep ready for sale, and where in the first place may realize economies of sale and other efficiencies from managing the firms/ventures as a cluster, as opposed to a single one.

As a form of motivation to the serial entrepreneur, he or she receives an alternative approach to understanding the business mechanisms for growth at the local and regional business level which is an important element in regional economic development (Krieger). How better could motivation be, if not based on business growth? According to Storey (1987), there exists evidence that entrepreneurs of high growth firms are often associated with huge rate of multiple ownerships.

Multiple business creation has been found to be an ideal way of reaching the owner-manager's aim of growth (Carter 1998), in which entrepreneurs may substitute the growth of one venture with the creation of multiple firms. The motivation received from the success of multiple ventures is best seen in the Scholl hammer (1991) study of incidence and determination of multiple entrepreneurship, which found 80% of all second venture initiatives to be in the same industry as the prior business efforts or even closely related.

Such an occurrence demonstrates according to (Scholl hammer 1991), a tendency of the entrepreneurs' involvement in the formation of three separate firms to have the degree of relatedness to prior business drop by 52%, only to increase again within the fourth and fifth business startups.

This study explores whether or not the need for achievement acts as a significant factor to motivate serial entrepreneurs. In this respect, need theory might be useful in helping ascertain whether need for achievement affects persistent behavior of entrepreneurs, as well as whether a need for achievement and business goals can influence such need.

1.2 Objectives;

Motivational Factors of Multiple Business Entrepreneurs

According to (Timmons, 1992), many people dream of working for themselves through starting their own businesses, but few realize that dream due to lack of persistence, which attributes to the high rate of failures. There are several uncertainties associated with the creation of new ventures, which calls for the entrepreneur to assume personal, social, and psychological risks (Lumpkin and Dess 1996).

According to Baum (1996), Multiple Business entrepreneurs must persist in their efforts when they are faced with difficulties and uncertainties such as bankruptcies, social discouragements. However, previous empirical studies have not been consis本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。