Which one among the following is not a factor external to an entrepreneur?

The correct answer is - Business experience in the same or related line.

Key Points

•  Entrepreneur refers to an individual who searches for change, exploit (make use of) opportunities and ready to take the risk for his/ her business/ organization.
• There are many types of Entrepreneurs, such as:
  • Pure Entrepreneur
  • Drone Entrepreneur
  • Fabian Entrepreneur
  • Social Entrepreneur
  • Industrial Entrepreneur
  • Cognitive Entrepreneur etc.
• There are some factors which affects the motivation level of an individual, namely: Internal and External Factors.
• Internal factors are those that are internally connected with an individual's personality. It includes:
  • Educational Background of an individual
  • Field Experience 
  • Be Recognized
  • Become Independent etc.
• External factors are those which are out of control or not under the control of an individual. Such as:
  • Availability of Labour
  • Accommodation in Industrial estates
  • Government assistance
  • Availability of Raw Material etc.

So, we can say that Machinery on hire purchase, Accommodation in Industrial Estates and Financial Assistance from non- governmental sources all comes under the category of external factors except Business Experience in same/ related field.