Successful Entrepreneurship
Maina, Mercy (2012)
Laurea-ammattikorkeakoulu
2012
All rights reserved
Julkaisun pysyvä osoite on
https://urn.fi/URN:NBN:fi:amk-201202222410
https://urn.fi/URN:NBN:fi:amk-201202222410
Tiivistelmä
In Finland, many foreigners seeking to settle in the country have embarked on starting up their own businesses. Most have been successful and growing, others have not been as lucky. The Ministry of Employment and the Economy (MEE) wishes to raise the number of successful entrepreneurs and help the existing ones.
The purpose of this study is to establish which factors affect business survival and success among SMEs owned by persons of foreign origin in Finland. Based on a survey of restaurants in the Leppävaara area, the study discloses that customer relations, access to capital, marketing and knowledge of Finnish language significantly affect the likelihood of business success in a positive way, while taxation and legality do so in a negative direction.
These findings suggest that to be a successful business, the owners of SMEs should pay more attention to improving marketing strategy, learn the Finnish language, and to acquire capital and improved access to information. Other parties interested in the development of SMEs, such as government agencies, schools and business development services, should also be prepared to give assistances in these areas.
The purpose of this study is to establish which factors affect business survival and success among SMEs owned by persons of foreign origin in Finland. Based on a survey of restaurants in the Leppävaara area, the study discloses that customer relations, access to capital, marketing and knowledge of Finnish language significantly affect the likelihood of business success in a positive way, while taxation and legality do so in a negative direction.
These findings suggest that to be a successful business, the owners of SMEs should pay more attention to improving marketing strategy, learn the Finnish language, and to acquire capital and improved access to information. Other parties interested in the development of SMEs, such as government agencies, schools and business development services, should also be prepared to give assistances in these areas.