LBEF RESEARCH JOURNAL OF SCIENCE, TECHNOLOGY AND MANAGEMENT
E-ISSN: 2705-4748
P-ISSN: 2705-4683
P-ISSN: 2705-4683
Vol5, Issue4 ( 2023)
FACTORS AFFECTING THE SUCCESS OF ENTREPRENEURSHIP IN KATHMANDU
Author(s):Shila Bhandari, Anwesha Sthapit
Abstract:Any community’s ability to foster entrepreneurship plays a critical role in fostering economic development. The major goal of this study is to investigate the factors that influence entrepreneurship success in Kathmandu, the capital city of Nepal. This study aims to provide insights into the complex dynamics that determine the outcomes of entrepreneurial activities in the local context by examining the interactions of variables like availability of financial resources, education and training, and governmental rules and regulations.
A structured questionnaire was used to collect information from 314 participants in order to achieve this objective. The respondents’ demographic information was presented, emphasizing important details including gender, age, educational background, and the length of time they had been in business. To show the range of responses across different constructs connected to the parameters under inquiry, descriptive statistical approaches were used. The type and degree of relationships between the independent variables and the dependent factor, which stands for company success, were revealed through the use of correlation analysis. The study’s findings show that Kathmandu’s entrepreneurial performance is significantly positively correlated with the availability of financial resources, educational and training opportunities, and governmental laws and regulations. Multiple regression analysis was used to confirm the impact of these characteristics on business success. The validation of the postulated correlations through hypothesis testing highlights the critical importance of accessible funding, high-quality training, and encouraging regulatory frameworks in supporting successful entrepreneurial efforts.
This study highlights the critical importance of a supportive ecosystem for entrepreneurship, including financial support, opportunities for skill development, and helpful regulatory frameworks. These results provide insightful information that policymakers, educators, and businesspeople can use to create plans that support and encourage entrepreneurial success in Kathmandu. Understanding these elements is crucial for fostering innovation, creating job opportunities, and building economic resilience inside the business community in a world where the economy is rapidly changing.
A structured questionnaire was used to collect information from 314 participants in order to achieve this objective. The respondents’ demographic information was presented, emphasizing important details including gender, age, educational background, and the length of time they had been in business. To show the range of responses across different constructs connected to the parameters under inquiry, descriptive statistical approaches were used. The type and degree of relationships between the independent variables and the dependent factor, which stands for company success, were revealed through the use of correlation analysis. The study’s findings show that Kathmandu’s entrepreneurial performance is significantly positively correlated with the availability of financial resources, educational and training opportunities, and governmental laws and regulations. Multiple regression analysis was used to confirm the impact of these characteristics on business success. The validation of the postulated correlations through hypothesis testing highlights the critical importance of accessible funding, high-quality training, and encouraging regulatory frameworks in supporting successful entrepreneurial efforts.
This study highlights the critical importance of a supportive ecosystem for entrepreneurship, including financial support, opportunities for skill development, and helpful regulatory frameworks. These results provide insightful information that policymakers, educators, and businesspeople can use to create plans that support and encourage entrepreneurial success in Kathmandu. Understanding these elements is crucial for fostering innovation, creating job opportunities, and building economic resilience inside the business community in a world where the economy is rapidly changing.
Keywords:Factors, Success of Entrepreneurship, Kathmandu Valley
Pages: 111-128