Entrepreneurial resilience in small businesses : an empirical study of success factors in Bangladesh amidst the covid-19 crisis

Abstract

This thesis aims to explore the factors that contribute to the success of small ventures in Bangladesh. The existing theories in general showed that there are two sets of factors that contribute to the success of a small business owner, and those are demographic factors such as age, gender, education, and, experience, as well as some generic factors such as government support, adaptation of new technologies, marketing capabilities, managerial and leadership capacities, a flexible external environment, standardizing products and services, and a robust business plan. However, to verify the theories, information was gathered through a combination of a survey and an in-depth interview with SME business owners of Bangladesh. The quantitative data was analyzed using statistical analysis using the Webropol data visualization tool. On the other hand, the qualitative data has been analyzed through thematic analysis. The findings showed that during a crisis like COVID-19, entrepreneurial competencies become more crucial than the age, education, and gender of the business owners. Apart from them, all the general factors play a significant role in building resilience and helping small businesses survive tough times and be successful.