Determinants of successful entrepreneurship in a developing nation: Empirical evaluation using an ordered logit model

Abstract

Entrepreneurship has always been a crucial issue in the economic development of the countries as it has the ability to enhance standards of living and create wealth, not only for the entrepreneurs but also for related businesses and people. This paper aims to provide insights into how to build successful entrepreneurship in Kathmandu valley (KV). Using the descriptive method, we have applied non- probability sampling technique to select 302 entrepreneurs from KV. The structured questionnaire is used for data collection. Descriptive statistics, correlation, regression, pre-estimation, and post-estimation are used for data analysis. The research finds that entrepreneurs are more successful when possessing such qualities as creativity and leadership. Furthermore, the results reveal that technology plays a vital role while initiating entrepreneurship and education helps raise positive output in entrepreneurship. Based on the findings, the study concludes that entrepreneurship has been one of the important issues in the context of Nepal to open up employment opportunities and bring economic progress.