Entrepreneurial Factors Influencing Improved Sustainability and Successful Entrepreneurship: A Theoretical Perspective

Abstract

The challenges and other factors influencing entrepreneurship and entrepreneurs are phenomenal. They have manifested and metamorphosed in different ways for a long time, thereby impeding the success of the entrepreneurs, and affecting their business sustainability. An   entrepreneur cannot progress without surmounting to a greater level these challenges (factors). However, variables from various theoretical factors were examined namely, sociological, psychological, innovative and the need for high achievement factors on three hundred and thirty-eight African immigrant entrepreneurs within the Central Business District (CBD) in Durban using cluster sampling technique. The outcome gave rise to the development of the framework of entrepreneurial success and sustainability, towards improved sustainability and successful entrepreneurship indicating that all four factors have positive significant influence on African immigrant-owned micro businesses in Durban, with innovation factors being more pronounced. The regression analysis showed that the model used accounts for 79% of the variance in improved sustainability. Hence, the power of the model is high, indicating that the variables under study play a key role towards entrepreneurial success and sustainability. These findings provide entrepreneurs with the required factors that will sustain their businesses. This study also provides additional insight for subsequent researchers in the form of findings and information on the topic of entrepreneurship and sustainability.