The Successful Factors for Start-Up Business

The Successful Factors for Start-up Business

In recent years, the present workplace has been experienced the pivotal transformation from industrial era to the information age. More and more, today’s millennial generation around the world is leaving the traditional work environment and pursuing start-ups entrepreneurial career path. This leads to the fact that entrepreneurs will play a key role in the forthcoming economies and for community. Entrepreneurship is not only a pivotal pillar of economic growth but also a crucial foundation of renewal and competitiveness for economies. As agreed with Kilby and Stewart (as cited in Ang & Hong, 2000), entrepreneurs help to boost and facilitate the growing economy through generating jobs and investing in the societies. The purpose of this essay is to describe the essential success aspects influencing the start-ups business such as, entrepreneur spirit, technology trend, and investment programs. In addition, Vietnam which is one of the developing countries will be described thoroughly as the result of facing with many difficulties and challenges recently.

Entrepreneurial Spirit

Entrepreneurial spirit is a driving force of development in economic. For individual, it generates the theoretical concept into a practical initiative and releases the creative strength of human capital. In addition, the entrepreneurial spirit can be illustrated not only regarding to characteristic aspects, but also regarding to inspirational and encouraging aspects (Ang & Hong, 2000).

Positive Attitude Towards Entrepreneur

Professor Howard Stevenson (as cited in Tony, Sefiu, Olamide, Monsuru, & Oluwatoyin, 2018) postulated that Entrepreneurship is the pursuit of opportunity beyond resources controlled. Differing from businesses which have the capital with many years of reputation and prosperity, start-up businesses usually have the difficulties (such as resources, market demand and development ability) that seem to be impossible to overcome without enough strength and endeavor. This leads to the fact that a lot of entrepreneurs have failed but not the one who has the entrepreneurial spirit and positive mindset to seek and pursue new opportunities. Thus, to get rid of the difficulties and face challenges, start-ups businesses can solely consider the distinctive qualities of optimistic spirit, the persistent will, and the robust enthusiasm (Tony et al., 2018).

Attitude Findings Around The World

The Amway Global Entrepreneurship Report (AGER) 2018 has conducted an investigation across 44 countries with the participation of approximately 50,000 respondents regarding to the attitude and consciousness toward the entrepreneurship. According to the report, a large majority of respondents (over three-quarters) expresses the positive attitude toward entrepreneurial spirit and agrees how importance of the global economic trends as a shared economy. Moreover, the AGER findings also describe the interest in start-ups business in the current modern economy with correspondingly 39% of respondents totally demonstrates self-employment in business would be more attractive and fascinating in the next five years and 56% of them perceives a comfortable feeling in finding and appealing the potential customers – a key aspect that control and determine the success in start-ups business.