Since end of 1997, under IMF(International Monetary Fund) economic crisis has caused unemployment problem by reconstruction, company collapse, retirement, but it is difficult to be re-employed, even young people are difficult to be employed. Therefore...
Since end of 1997, under IMF(International Monetary Fund) economic crisis has caused unemployment problem by reconstruction, company collapse, retirement, but it is difficult to be re-employed, even young people are difficult to be employed. Therefore, the solution of this problem, small business had been bring into relief, thereupon the central and local government give a little support.
However, the failure of small business damages entrepreneur themselves but also their family, relatives, and investors so that become prominent figures on socially and economically, but little studies and reference papers caused difficulty of start-up business.
Hereupon, through the studies on the success factors of a small business start-up deriving elements of success, strengthen by activating, restraining elements of failure, and I wish to give effect supports to attain successful small business start-up.
As a result of existing research, the factors of successful starting business are as follows. First, entrepreneur’s psychological characteristic of need for achievement and responsibility. Second, selecting items with core competitiveness and bright prospect. Third, superior business management ability. Fourth, enough capital of starting business. Otherwise, elements of failure starting business are as follows. First, insolvent of business management. Second, lack of capital and etc.
To strengthen of successful elements and restrain of failure elements, training entrepreneur’s psychological characteristics, needs of accomplishment and responsibility. These are essential that items are well known by businessmen, enough demand, well-timed selected items. Security of business management ability, especially ability of marketing. Moreover, raising usage of own capital, using low-interest fund, emergency fund lending, and accident insurance are important.
Among these elements, I suggest most important is unyielding will that related successful execution and needs to confirm absolutely.