Abstract
The study proposed a multi-criterion decision model from benefit, opportunity, cost, risk aspects of SME family business to develop logical investment priorities for northeast Indian family entrepreneurs. The data was collected from 368 northeast entrepreneurs and analytical hierarchy process was applied to develop weights and priorities of every criteria and sub-criteria. The study found employment opportunity; business growth; reputation; stability and succession planning as top priorities. The findings provide heuristic judgment for entrepreneurs and infer to entrepreneurs while taking strategic investment decisions and also to local governments, policymakers, and industrialists. Further, the limitations and research directions were presented.
Highlights
The family business is enormously growing in the world as they boost both local and global economies
Investment decisions vary across the world based on their priorities
The study has examined the prospects, problems, benefits, opportunities, cost, and risks factors involved in the northeast business from the retrospective analysis of literature and primary data collection through questionnaires from existing family business owners
Summary
The family business is enormously growing in the world as they boost both local and global economies. The Northeast part of India which includes eight different states namely Tripura, Assam, Arunachal Pradesh, Manipur, Sikkim, Nagaland, Mizoram, Meghalaya are considered to be Southeast Asia’s gateway as they border neighboring countries like Burma, China, Nepal, Bangladesh, and Bhutan This region covers 0.26 million Km2 areas geographically accounting for 7% of Indian land and approximately 4% of the Indian population (Das and Ali, 2003). The family business literature lacks a prioritization or multi-decision analyzing benefit, opportunity, cost, and risk perspectives. They failed to strategically realize the purpose of establishing such business ventures. The research revealed prioritizing cost-benefit and opportunity-risk areas can guide the entrepreneurs to accomplish strategic business goals and sustain growth. The fourth section demonstrates the results and discussion followed by limitations, practical implications, and conclusion of the study
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