Challenges hampering nascent/potential Maltese entrepreneurs

Abstract

Purpose: The underlying objective of this research was to explore the factors which impact nascent Maltese entrepreneurs to engage in business, the personality related factors which influence individuals to engage in entrepreneurship, the manner family impacts entrepreneurs’ attitudes towards business, and the degree in which educational business courses at the secondary and the tertiary levels are effective in sustaining an enterprise-based culture. Design: A qualitative approach was implemented by a semi-structured interview. The interviews were classified in five primary sections which included approximately the same set of questions. The discussions were audio recorded and later transcribed. This document served as an authentic reference in the analysis and interpretation stages of this research. Findings: Entrepreneurs indicated that they engage in business for diverse reasons ranging from personal satisfaction and to service customers. As regards personality, respondents indicated that one’s personality impacts business performance and likewise it shapes the entrepreneurial mind-set. Distinct respondents highlighted aspects of their personality which they classified as either strengths or weaknesses. In general business-oriented families influence their offspring to pursue a career in business. As regards business courses, respondents were somewhat sceptical regarding their effectiveness and practicality. This is because they are more theory-based rather than focusing on hands-on business realities. Respondents stressed the importance of developing creative approaches as well as soft skills, critical thinking, vision building, public speaking and salesmanship. Conclusion: It is intended that these recommendations be implemented in a step-wise approach, so as to ensure its optimal implementation. Further the outcomes of this research are intended to act as a constructive platform for future researches addressing this subject area of interest.