When you start your own business, it’s important to make sure you cross all of the t’s and dot all the i’s. To do this, you’ll need to ensure that you have the right financial resources to get your business off the ground. This may include seeking out government aid schemes, such as JEI status or NACRE, bank loans and crowdfunding.
Business creation, also known as entrepreneurship, is a significant source of national economic growth and adaptation. Yet, despite a wealth of individual success stories and analyses reflecting samples of convenience, systematic evidence about the nature of people engaged in this process and the features of their nascent ventures remains scarce.
The aim of this book is to fill this gap with empirical descriptions and analysis of the major factors associated with contemporary business creation, using representative samples of early stage nascent entrepreneurs and their ventures. By focusing on the two-fifths of these ventures that reach profitability, this book offers a rich picture of what it takes for new businesses to become viable.
Starting a business does not come cheap. Whether the venture is a small local enterprise organized as a sole proprietorship or an international corporation, it requires substantial time and financial investment. Moreover, most of these costs are borne by the individuals who are involved in start-up efforts. Thus, policies aimed at increasing the proportion of start-ups that achieve profitability must balance the benefits with the social costs.
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