Factors affecting the desire of finance students in Uganda to start their own business
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2024-09-11
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Abstract
This study explores the factors influencing the entrepreneurial aspirations of finance students in Uganda, a critical demographic for fostering economic growth through innovation and enterprise. Despite their strong academic background in finance, a significant number of these students exhibit reluctance to pursue entrepreneurial ventures. The research investigates various determinants, including personal attributes, socio-economic conditions, educational experiences, and access to financial resources, that either encourage or hinder their desire to start their own businesses. Using a mixed-methods approach, the study gathers quantitative data through surveys and qualitative insights from in-depth interviews with finance students across several universities in Uganda. The findings reveal that while entrepreneurial intention is present among these students, challenges such as limited access to startup capital, fear of failure, inadequate entrepreneurial training, and socio-cultural pressures significantly dampen their ambitions. The study concludes by recommending to focus on improving risk tolerance through targeted training that addresses financial management and risk mitigation strategies