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A Study on the Influence Factors on Successful Small Business Start-Ups - Micro Credit Received from Seoul Credit Guarantee Foundation

Affiliations

  • Department of Knowledge Service and Consulting, Hansung University, Korea, Republic of
  • Department of Public Administration, Hansung University, Seoul, Korea, Republic of

Abstract


Objectives: This study aims to analyze the differences between successful and failed businesses, find out the factors that affect the success of start-ups and requirements for stable management of a business, and use them to make policies to support small businesses. Methods: In advance, we conducted survey 500 the success and failure. And then we collected data which extracted 345 samples that had positive answers through survey, questionnaire and interview process remove the inappropriate surveys, used a total of 124 samples in the study. Findings: Successful and failed businesses have differences in educational background, type of business, motivation, existence of representative products, existence of constant suppliers, revenue management, and training of employees, and age and educational background turned out to be influential in the possibility of success. Applications: The factors deduced through this study will be used as base data in the policy-making process for the training for start-up businesses and consulting project that are provided for small business owners by Seoul City and from Seoul City Credit.

Keywords

Business Management, Characteristics of Business Founder, Success and Failure, Success Factor of Start-Ups.

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