Abstract: Innovation and entrepreneurship is the theme of the era of knowledge economy. With the change of China's economic growth mode and the influence of college enrollment expansion policy, entrepreneurship has gradually become a career choice for vocational college students. However, the success rate of higher vocational students' entrepreneurship is relatively low. The key factors include internal factors and external factors, among which the internal factors include entrepreneurial willingness and entrepreneurial ability. External factors include family, school innovation and entrepreneurship education and social recognition. Through the analysis of these key factors, it is helpful for individual students and higher vocational colleges to form the thinking mode of rational entrepreneurship and the exploration and research of entrepreneurship education and practice.

Key words: Higher vocational students, Rational entrepreneurship, The key factors