Do External Factors Influence Students’ Entrepreneurial Inclination? An Evidence Based Approach

For decades world economies have witnessed increasing unemployment rate. Recent developments in world economic systems have also affected the employment level in countries (Alam, 2009). In Pakistan, continuous wave of terrorism and increasing instability has shattered all economic activities. This in result has negatively influenced level of employment in Pakistan. It is challenge of the time to employ these unemployed persons. Unemployment rate has increased drastically in Pakistan from 13.60% in 2008 to 15.20% in 2009 (CIA-the world fact book). Now this unemployed workforce is creating lots of problems both for the public and state like increased crimes, law and order situation, and many more social problems. One of the most effective solutions adopted by researchers is self employment. Self employment or entrepreneurship can contribute a lot for both the state and society as a whole. As noted by Awogbenle and Iwuamadi (2010) concluded that entrepreneurship can be a tool that might minimize the level of unemployment and can be source of sustainable economic development.