EXTERNAL FACTORS DRIVING AND LIMITING START-UPS IN LATVIA
DOI:
https://doi.org/10.17770/jresd2024vol16.8327Keywords:
entrepreneurship, factors, force field analysis, start-upAbstract
Purpose and aim of the study: The purpose of the research is to conduct a review of the literature on start-ups in order to identify the driving and limiting factors in the development of start-ups in Latvia.
Design / Methodology / Approach: Methods used in the research – the monographic method, the survey method, and the force field analysis method. The main tasks of the study are: to study the main aspects of the activity in the start-up sector in Latvia; identify the driving and limiting factors in start-up activities using the force field analysis approach; and identify appropriate courses of action to promote drivers and reduce constraining forces.
Main Findings: The research concluded that the most important element driving development for start-ups in Latvia is the development of technology in the market, and communication with the customer is also a very important factor. The factors that are disturbing the development of start-ups are the intensity of competitors, increase in costs and political instability in the world.
Originality: The study provides an insight into the aspects of driving and inhibiting factors for start-ups, and the author created recommendations on development opportunities for start-ups on the Latvian scale.
Implications: The results of the research are important for both working start-ups and new entrepreneurs who plan to start their own businesses in the future.
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