Establishing a Small Enterprise in Varkaus and Factors behind Success and Failure of Small Businesses
Rasheed, Shahzad (2014)
Rasheed, Shahzad
Savonia-ammattikorkeakoulu
2014
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Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201403113026
https://urn.fi/URN:NBN:fi:amk-201403113026
Tiivistelmä
Primary objectives of this thesis were to aid future entrepreneurs by describing the basic procedure of establishing an enterprise and the key issues to be considered during business establishment process. Second topic of this research was the key factors which lead a small business to its success or failure. These success and failure factors of small businesses were identified by conducting a qualitative research through participation of small business owners in Varkaus and neighbouring areas.
This topic was chosen because the author himself is an entrepreneur and he believes that many of the business challenges are due to lack of information about start-up process and other required formalities for a smooth and successful start-up of a business. In addition, author was not aware of market challenges in the current business scenario.
Outcomes of this research include a detailed overview of different stages of business establishment process, required documentation, introduction and characteristics of different business forms. The second part of research produced lists of five success factors, failure factors, potential counter strategy and suggestions from the relevant people who are already doing business in the market.
Entrepreneurship is a great achievement which enables an individual to earn more money and respect in the society. Successful entrepreneurs create jobs and pay high taxes to support the national economy. On the other hand, being an entrepreneur could be highly risky. In case of failure, a business owner may lose all of his personal savings and business liabilities may chase him for the rest of his life. Therefore, it is really important to be well aware of business administration techniques, potential threats and challenges and well planned counter strategies.
This topic was chosen because the author himself is an entrepreneur and he believes that many of the business challenges are due to lack of information about start-up process and other required formalities for a smooth and successful start-up of a business. In addition, author was not aware of market challenges in the current business scenario.
Outcomes of this research include a detailed overview of different stages of business establishment process, required documentation, introduction and characteristics of different business forms. The second part of research produced lists of five success factors, failure factors, potential counter strategy and suggestions from the relevant people who are already doing business in the market.
Entrepreneurship is a great achievement which enables an individual to earn more money and respect in the society. Successful entrepreneurs create jobs and pay high taxes to support the national economy. On the other hand, being an entrepreneur could be highly risky. In case of failure, a business owner may lose all of his personal savings and business liabilities may chase him for the rest of his life. Therefore, it is really important to be well aware of business administration techniques, potential threats and challenges and well planned counter strategies.