WHAT MAKES A START-UP SUCCESSFUL? – SMALL BUSINESS VENTURES IN FOCUS
WHAT MAKES A START-UP SUCCESSFUL? – SMALL BUSINESS VENTURES IN FOCUS

Summary/Abstract: The economic significance of SMEs in the EU is very high, and in Hungary it is even higher, However, Hungarian SMEs’ efficiency is below the average. What is more, according to SBA (2014) data they have even been decreasing in number as well as in number of people employed by them during and ever since the crisis. What is more, the death rate of Hungarian SMEs is one of the highest in the EU28 (Eurostat, 2013c). Hence, it is of utmost importance to explore the threats SMEs are facing, especially in their start-up phase, where they are the most vulnerable. In order investigate the major drawbacks successful Hungarian start-uppers have faced an online research has been initiated in the first quarter of 2015. Although the sample involved in the research (N=44) was far from representative, the findings are interesting and might provide ideas for those considering starting their own business, where to focus their attention in order to create a fruitful and lasting business venture.

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