A greater level of entrepreneurial business opportunities will exist in a poor, developing economy, rather than in a rich, developed economy because the needs and opportunities are more widespread, have a different look and feel, and have greater cultural awareness and have the opportunity to evaluate sectors that present a high level of market risk before entering them. Although there are many factors that can influence entrepreneurship in these countries and prevent the existence of forms of entrepreneurship such as lack of funding, recruitment difficulties, lack of innovation, high barriers to entry and problems with the government. There are 5 factors needed for entrepreneurship to exist these are an individual – the entrepreneur himself, an opportunity, adequate resources, an organization and an enabling environment. It may be difficult to have all these five factors in a developing country compared to a developed country due to many problems but if these problems can be overcome there are many advantages of starting a business venture in a developing country development. Although developing countries lag behind developed countries in the entrepreneurial sector, entrepreneurship is a very important part of their economy to stimulate growth, competitiveness, innovation and also to alleviate poverty of countries. Although some developing countries try to limit entrepreneurship, many others allow and encourage entrepreneurship and starting small businesses, despite the great odds of success. (Pennisi, 2012) There are many unique characteristics that influence entrepreneurship in developing countries. There are many issues that need to be overcome by entrepreneurs in developing countries before they can start their business...... middle of paper ... ...near future. (Kempner, 2011)Entrepreneurial ventures and small businesses in developing countries are extremely beneficial and are essential because they generate income and jobs and invest their business in the community in which they operate. This also generates goods and services for local people in these communities and will often also address environmental and social issues in the community. If managed properly, these businesses should grow and create more jobs, more services and more wealth for the community. (Naude et al. 2011) Overall there are many problems that entrepreneurs must overcome to start a business in a developing country, but if they are willing and able to overcome them, there is a greater level of opportunity to entrepreneurial businesses that exist in a poor, developing country rather than in a rich, developed country.