... Specifically, personality traits (Carland, Carland, Hoy & Carland, 2002), cognition (Mitchell et al., 2002), motivational needs including the need for achievement (McClelland, 1961;McClelland & Winter, 1969), self-efficacy (Chen, Green, & Crick, 1998), self-determination (Ryan & Deci, 2000), cognitive biases (De Carolis & Saparito, 2006) and risk taking perception and propensity (Carland, Carland, Carland & Pearce, 1995) are all found to be related to new venture creation. Additional studies have determined that even demographic characteristics such as age, gender, race, marital status, socioeconomic status, previous work experience, education level of the individual and parents, family background and previous entrepreneurial experiences (Robinson, Stimpson, Huefner & Hunt, 1991;Robinson & Sexton, 1994;Gartner, 2004;Sajilan, Hadi & Tehseen, 2015;Startiene & Remeikiene, 2015) of the individual entrepreneurs explain some part of their drive to create new ventures. While demographic characteristics and personality traits tend to be stable over time, motivational needs (e.g. ...