Purpose -The decision one makes to engage in entrepreneurial activity is affected by many different motivators. The paper aims to focus on one specific motivator for entrepreneurial activity which is the Need for Achievement. The prevailing methods of studying achievement motivation will also be discussed as shall constructs related to Need for Achievement. The paper also examines the dynamics of achievement motivation. The dynamic ability of individual traits is important, if it were not one's traits would be constant and not capable of being changed or developed. Some of the main factors that can influence achievement motivation are also examined in the paper. Design/methodology/approach -Specifically, data from 249 entrepreneurs from the USA, 220 from China, and 173 from Latvia were used in order to examine the relationships between variables related to Need for Achievement. Findings -Goal orientation, conscientiousness, cognitive complexity, age, and gender were found to be able to account for 29.4 percent of the variance in Need for Achievement among American entrepreneurs, 45.3 percent among Chinese entrepreneurs, and 33.5 percent among Latvian entrepreneurs. Differences are found between the countries with cognitive complexity being statistically significant in the USA and China, but not in Latvia. Gender was significant in the USA and China but not in Latvia. Age was not significantly related to Need for Achievement in any of the three countries, while goal orientation and conscientiousness were significantly related to Need for Achievement in all three countries. Finally, the implications of this research as well as areas that need to be considered for future research are discussed.Research limitations/implications -The paper is limited to entrepreneurs of small to medium-sized enterprises in North America, Asia, and the Baltics. The implications of the research include that Need for Achievement is important for entrepreneurs across these three very diverse cultures and that variables related to Need for Achievement vary between the countries. As Need for Achievement is related to economic development, it is important to understand the factors which might be able to influence the Need for Achievement of entrepreneurs from around the world. Originality/value -The development of entrepreneurs is important if economies desire to have sustainable growth. Little empirical research has examined these issues with data-sets from three continents. Even less research has examined these issues among entrepreneurs. The paper addresses these areas.