SHS Web Conf.
Volume 91, 2021Innovative Economic Symposium 2020 – Stable Development in Unstable World (IES2020)
|Number of page(s)||9|
|Section||Stable Development in Unstable World|
|Published online||14 January 2021|
Factors of Entrepreneurial Success: A qualitative multiple case study of new small businesses
Institute of Technology and Business in České Budějovice
* Corresponding author: firstname.lastname@example.org
In most countries, small businesses represent a majority of firms providing close to fifty percent of the total employment. However, on average, more than half of new small-business start-ups usually fail within the first 5 years of operation. Therefore, learning from the success of small-business owners who have sustained in business for at least 5 years can provide helpful insights not only for individual firms, but also for the continued growth of local economies which usually rely on small business to a great extent. The purpose of this case study based article was to explore common approaches, strategies and skills of successful business founders/small business owner´s that contribute to their sustained development. The article is based on a qualitative survey of sixteen, locally operating, small, retail and service-industry firms which, having successfully survived at least 5 years in business, continue to grow. The method of the survey covered semi structured interviews led with individual entrepreneurs and focused on identifying the crucial business as well as personal approaches and skills important for their market survival.
Key words: small business / business owner characteristics / entrepreneurial skills / leadership skills / business planning / networking / market differentiation
© The Authors, published by EDP Sciences, 2021
This is an Open Access article distributed under the terms of the Creative Commons Attribution License 4.0, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
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