Validation of Decision Criteria and Determining Factors Importance in Advocating for Sustainability of Entrepreneurial Startups towards Social Inclusion and Capacity Building

Abstract

The main goal of the study is to assess the decision criteria and the determining factors for the sustainability of entrepreneurial startups in order to contribute towards social inclusion and capacity building. Both concepts are in the development phase and are the outcome of entrepreneurial ecosystem and individual behavior and traits. The current study observed the research problem as entrepreneurship and entrepreneurial startups are the continuous phenomena required for every economy. The lack of an efficient ecosystem and incompetent trait of an entrepreneur brings the entrepreneurial startup to failure. Therefore, an assessment of decision criteria and determining factors categorizing them by their importance may provide the requirements to lead to a successful entrepreneurial startup, contributing to social inclusion and capacity building. The study solved the research problem by statistical assessment of decision criteria and determining factors and categorizing them by their importance may provide the requirements to lead to a successful entrepreneurial startup. The research is built on research questions, objectives, a conceptual model, and a hypothesis, which are tested based on the data collected. The collection of data was done through a survey questionnaire on a sample of established entrepreneurs. The study concludes that the five components of decision criteria are region, competition, funding opportunities, tax system, and country economic situation, whereas eight determining factors, consciousness and reliability, pursuit of results, flexibility, stress resistance, skills of identification and exploitation of potential market opportunities, leadership, creativity and innovation, and delegation of decision-making, are required for a successful entrepreneurial startup to be able to work towards social inclusion and capacity building.