Motivation is an important factor in the development of an entrepreneur.

This statement is True.

(i) It gives direction to human behaviour to achieve goals or fulfill needs and motivates a person into action. It induces him to continue the course of action.

(ii) It is inner drive that ignites and sustains behaviour to satisfy needs.

(iii) Entrepreneurial motivation with motives such as high need to achieve, moderate need for power and low affiliation motive which induce people to set up and run their own enterprise.

(iv) Entrepreneurs are motivated by internal factors such as educational background, technical knowledge, desire to do something new and be independent along with external factors such as assistance from government, financial institutions, availability of resources etc. will help in the development of an entrepreneur.

(v) Thus motivation is an important factor in the development of an entrepreneur.