Essay about Factors Influencing The Performance Of Start Up Businesses
This chapter gives information on the background of Start-up businesses and the factors influencing the performance of start-up businesses. The chapter also gives includes the statement of the problem being studied, general objective of the study, specific objectives of the study and the hypotheses of the study.
1.2 Background Iinformation
The study seeks to find out the factors influencing the performance of start-up businesses in Northampton United Kingdom. Entrepreneurs create thousands of new business each year to help meet our economic needs. Entrepreneurship is thus for the past few years been view as the driving force in the economy in the modern world. According to Hodgetts and Kuratko (1995) small businesses are the economic engine that drives the global quality of life and do not just create employment (Hills 1995).
Small firms may be much defined but still form the large part of enterprises in the world all in economies (Storey, 1994). Entrepreneurship therefore plays a major role in the economy of the world (Bygrave, 1994).
An entrepreneur could simply be put to mean someone who starts their own businesses that is a self-employed person. In most literature on start-ups, entrepreneurship is referred to as the process of creating a new enterprise as was defined by Low and Mcmillan (1988). An Entrepreneur could also be described as someone willing to bear risks to take on a new venture considering significant probability of making profit.…