Abstract
Entrepreneurs are confronted with diverse factors that have the potential to positively or negatively impact the expansion of their enterprises. These factors can have an impact on their success or failure. It is important to take them into consideration to have successful ventures. Some entrepreneurs have great ideas and are able to carry them out, but in the long run, these ventures end up closing due to various reasons. In order to provide precise solutions, it is imperative to ascertain the fundamental reasons and underlying causes behind the escalating trend of new enterprises closing prior to entering the growth and consolidation phase in Bolivia. This research aims at helping entrepreneurs establish long-term ventures that have a positive impact on the economy and development of a country. Through the research, quantitative and qualitative instruments were used to gather information from Bolivian entrepreneurs. A survey was conducted to a 404 sample of venture owners. In addition, interviews were carried out to gather more precise information on what is affecting the development of ventures. With the help of these instruments, it was possible to get close to determining which the most important internal and external factors are. This document provides information to entrepreneurs to enhance their preparedness and facilitate the expansion and consolidation of their enterprises. Furthermore, policymakers will find helpful information that will aid them at guiding their efforts accurately and achieving ventures that generate employment, economic activity, and improve the quality of life of the population in general.
Author Information
Yoshida Beatriz Gonzales Ticona, Universidad Privada del Valle, Bolivia
Paper Information
Conference: ACSS2024
Stream: Economics and Management
This paper is part of the ACSS2024 Conference Proceedings (View)
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To cite this article:
Ticona Y. (2024) External and Internal Factors That Affect the Development of Entrepreneurship ISSN: 2186-2303 – The Asian Conference on the Social Sciences 2024: Official Conference Proceedings (pp. 597-612) https://doi.org/10.22492/issn.2186-2303.2024.52
To link to this article: https://doi.org/10.22492/issn.2186-2303.2024.52
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