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THE RELATIONSHIP BETWEEN BUSINESS START-UP FACTORS IN THE SOUTH AFRICAN SMALL ENTERPRISE SECTOR
11 ABSTRACT
Throughout the world new business start-ups are considered the driving force to economic development. Whether it is in an emerging market economy or an advanced economy, starting a business is fraught with challenges and obstacles. There are a number of entrepreneurial start-up factors, namely culture, self-efficacy, intention and orientation which affect a person's ability to start a business. These factors have different effects on an individual's ability to start a venture. It is important to know which factor has what effect so that it can be promoted in our endeavours to promote business start-ups or entrepreneurship. The aim of this study was to find out the relationship between the identified start–up factors since it is reported of the high failure rate of SMEs. A structured research instrument was used to collect data from a sample of 500 SMEs in the retail industry through an interviewer administered and self-administered survey. It was found that there is a significant positive correlation between the selected business start-up factors.
KEYWORDS
Self-efficacy; Culture; Entrepreneurial intention; Entrepreneurial orientation; Business start-up.