Several researchers and industry practitioners developed entrepreneurship frameworks to foster entrepreneurial activity within a particular region, due to its remarkable impact on economic growth. However, these frameworks experience three major weaknesses: first, the specificity to start-ups initiatives revealed their ineffectiveness for early entrepreneurs in sustaining businesses; second, the main audience for these frameworks was governmental bodies and regional institutions, focusing on how to encourage entrepreneurial initiatives, rather than how to sustain early SMEs; and third, these frameworks assumed that the influence of the context is overwhelming to the contribution of entrepreneurs themselves. Therefore, this paper will aim into investigating the reasons behind the discontinuation of early seed SMEs in one developing country (Lebanon), and will suggest developing a two-stage framework that will differentiate between: the factors necessary for realizing a business opportunity and transform it into an achievable SME; and those factors critical to sustaining businesses in its first 18 months, presumably marketing, networking, innovation, technology and market information. For that purpose, the researcher will conduct first a pilot study with 10 entrepreneurs, then semi-structured interviews with 18 entrepreneurs, and finally 3 focus groups, each one of them with 6 entrepreneurs. The study will consequently provide entrepreneurs with a better position for sustaining their early establishments and success stories to other ambitious entrepreneurs. Hence, greater entrepreneurial initiatives will be promoted, eventually promoting economic growth. Other countries with similar economic structures like Jordan can also adopt the developed framework, after customizing systemic aspects to match the particularity of the geographical context.
Market Analysis: A Business plan is the blueprint for taking an idea for a product or service and turning it into a commercially viable reality. The market analysis section of your plan provides the evidence that there is a niche in the market that your company can exploit. This analysis provides the foundation on which your marketing and sales plan will rest.
Published Date: 2020-11-25; Received Date: 2020-11-10