The key determinants of entrepreneurial success: A study of small-scale clothing retailers in Beijing

Citation

Xue, Bing Ge. (2017). The key determinants of entrepreneurial success: A study of small-scale clothing retailers in Beijing. (Master’s independent study). Bangkok: Siam University.

Abstract

China is a growing economy where entrepreneurship has a considerable importance especially business such as small clothing retailers. Information about entrepreneurial success factors and its challenges could help to improve situations of entrepreneurs in this sector. The study will assist entrepreneurs of small-scale clothing retailers to reach success in their business and overcome their challenges. It will also encourage individuals to consider entrepreneurship as a job solution.

This study aims at determining the key determinant to entrepreneurial success for small-scale clothing retailers in Beijing. The objectives of the study are to investigate the main motivations that encourage the entrepreneurs to start the small clothing retailer business, to determine the key success factors of small clothing retailers in Beijing and to identify the crucial challenges faced by the entrepreneurs in small clothing retailer store in the capital. Besides other purposes of this research is to test the relationship between entrepreneurs’ education level and profitability of the entrepreneurship and to test the relationship between entrepreneurs’ experience level and profitability of the entrepreneurship. Finally the last objective is to provide

Recommendations and advices corresponding to the entrepreneurial challenges and help the entrepreneurs to reach success. 14 hypothesis have been established to support the study.

A total of 56 successful small clothing retailers’ entrepreneurs randomly selected in Beijing have been interrogated through a survey in form of a questionnaire. The Data obtained has been analyzed using SPSS software and Excel for generating descriptive statistic and correlation results.

The findings reveals that the main motivations of the entrepreneurs to start a small-scale clothing retailers are the desire for independence and autonomy and to increase their income. Further the key success factors in this sector in Beijing are previous experiences, a good customer service and having competitive prices. The results also show that the main challenges face by entrepreneurs of small-scale clothing retailer in Beijing are difficulties to attract customers, limited access to financial capital and Beijing registration and taxation systems. No statistically significant correlation has been found between education levels and profitability of business. Similarly no statistically significant correlation has been found between experience level and profitability of the business. Further the study has elaborated recommendations to help entrepreneurs to reach success and measure to overcome their challenges. For instance some steps and plan have been suggested on how to attract customers, how to develop competitive price and how to provide a good customer service in order to reach entrepreneurial success.

Keywords:  Entrepreneurship, small clothing retailer, Motivations, Success Factors, Challenges, Education, Experience.

The key determinants of entrepreneurial success: A study of small-scale clothing retailers in Beijing

International Master in Business Administration (IMBA), Siam University, Bangkok, Thailand

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