An Analysis of Romanian Entrepreneurs Setting up Business in the UK

This dissertation investigates the factors that motivate Romanian entrepreneurs to establish businesses in the United Kingdom. It examines the importance of motivation, identifies key drivers for setting up businesses in the UK, and analyzes the challenges encountered. The research employs a structured approach, including an introduction, literature review, methodology, results and analysis, recommendations, and conclusion. The literature review explores existing research on entrepreneurship, motivation, and the UK market. The methodology outlines the research design, data collection methods (primary and secondary), and data analysis techniques. The results and analysis section presents findings from the data collected, and the conclusion summarizes the key insights and implications of the study. The dissertation also includes a reflection on the research process and alternative methodologies.

Business and
Management Dissertation
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Abstract
An entrepreneur is considered to be an individual who tend to create innovative ideas and on
the basis of this starts his/her own business. They have a tendency of taking risks and extracting
positive outcomes. Unlike others, entrepreneur also plays a crucial role in economy of a country.
Motivation in any field whether it is business, sports or any other put an impact on the
performance of an individual. In relation with this research, prime focus of researcher was to
evaluate the factors that can motivate Romanian entrepreneurs for setting or establishing their
businesses in United Kingdom. After overall analysis, it has been evaluated that United Kingdom
has a strong market and for entrepreneur country welcomes people who have innovative ideas
which can be further formulise for the betterment and growth of society. Along with this, people
of UK are good in terms of mindset, their intellectual thoughts make them suitable for hiring in
relation to respective company. While doing business there can be some challenges such as local
competition, tax policies etc., can be faced by entrepreneurs but to avoid this using certain
precautions it can be eliminated.
Furthermore, for collecting data and information primary source was being used in order
to make reliable and different from others. Later, for the part of literature review secondary
source was taken into consideration. This helped researcher in having in-depth knowledge
regarding the chosen topic.
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Contents
Abstract............................................................................................................................................2
Title..................................................................................................................................................4
INTRODUCTION...........................................................................................................................4
Overview & background of research..........................................................................................4
Research Aim..............................................................................................................................5
Research Objective......................................................................................................................5
Research Questions.....................................................................................................................5
Literature Review.............................................................................................................................7
Importance of motivating Romanian entrepreneurs in terms of establishing business...............7
Factors that motivate Romanian Entrepreneurs to setting up their business within UK............8
Challenges that Romanian entrepreneurs face while introducing the new business venture in
UK...............................................................................................................................................8
Research Methodology....................................................................................................................9
Analysis and Interpretation............................................................................................................12
Conclusion.....................................................................................................................................27
Reflection and Alternative Research Methodology.......................................................................29
Reflection..................................................................................................................................29
Alternative research methodology............................................................................................29
REFERENCES..............................................................................................................................32
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Title
“Examining the factors that motivate Romanian entrepreneurs to set up business in UK”
INTRODUCTION
Overview & background of research
Entrepreneur is referred to as the individual who develop a completely new business at
own level by managing all functions. The respective individual also handles all financial risks
and enjoys the reward at its own. In other words, entrepreneur is basically seen as the person
brings innovation in the society with their new ideas, products, services and business procedures.
The entrepreneurs basically gets attracted towards different problems and emphasizes on finding
out solution for the same in order to serve the society in better manner and bring innovation in
adequate manner (Brancu and et. al., 2015). There are several factors which work as the
motivational booster for the entrepreneurs and also influences them establish their business in
such a manner that brings success towards them in adequate manner. It has been analysed that
motivation and challenges are two of the main factors that encourages entrepreneur to perform
their work more effective manner so that they can attain success in rapid manner. Motivation is
determined as the one and only factor which develops higher level of interest among
entrepreneurs which improvises their capability of performing the work (Popescu and et. al.,
2016). It also encourages entrepreneur to execute the assigned work in such a manner that leads
to attainment of their predetermined goals and objectives in quicker manner. Apart from this, it
can be further said that innovation brought by the entrepreneurs in the society creates
employment opportunities at marketplace which also results in the improvement of standard of
living of the people (Ramadani, 2015). The present investigation has been conducted on
evaluating several factors which motivates Romanian entrepreneurs to establish their business in
UK market in order to attain success. It has also been observed that entrepreneurs. In this regard,
investigator has developed research aim, objectives and questions based on the research topic.
The research objectives are mainly developed on the basis of proposed research aim.
Development of objectives makes it easier for the investigator gather meaningful information on
the proposed topic as it provides guidance to them step by step. The developed research aim,
objectives and questions on the proposed study are presented as below:
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Research Aim
The research aim is to “To examine the factors which motivate Romanian entrepreneurs
to set up business in the UK”.
Research Objective
 To understand the importance of motivating Romanian entrepreneurs in terms of
establishing business.
 To identify the factors that motivates Romanian Entrepreneurs to setting up their business
within UK.
 To determine the challenges that Romanian entrepreneurs face while introducing the new
business venture in UK.
Research Questions
 Why is it essential to understand the importance of motivating Romanian entrepreneurs in
terms of establishing business?
 What are the factors that motivate Romanian Entrepreneurs to setting up their business
within UK?
 What are the challenges that Romanian entrepreneurs face while introducing the new
business venture in UK?
Structure of the project
Structure of the report simply specifies that how investigation is being carried out by the
investigator with the motive of attaining best possible outcome towards the research problem.
While conducting present investigation in adequate manner researcher has made use of below
stated structure of research that will directly help them out in executing overall investigation in
effectual manner. Structure of the current investigation has been explained below in descriptive
manner:
Introduction
This is the first and foremost chapter of the dissertation in which overview of the
research, its topic, core research problem, aim, objectives, rationale of the study etc. explained by
the investigator in detailed manner. This section simply provides an overview to reader that why
this investigation has been conducted and what is main agenda.
Literature review
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This is the second chapter of the research which depicts overall information gathered
from the secondary sources. In this chapter, views and perception of different authors have been
taken into consideration that has supported in concluding the topic and finding appropriate
outcome towards the proposed research “Examining the factors that motivate Romanian
entrepreneurs to set up business in UK”.
Research Methodology
This is the third section of the investigation which provides descriptive knowledge on the
range of methods that have been adopted by the investigator in appropriate manner. There are
several methods included in this section are research philosophy, research approach, research
design, data collection method, data analysis, ethics and sampling and many others. All of these
methods are further bifurcated into few more sub methods. Investigator selects the best suitable
methods among these and follows it while conducting this investigation in adequate manner.
Results and Analysis
Results and analysis is the fourth chapter of every investigation. In this section overall
gathered information is analysed by the investigator. With reference to current research,
investigator here analyses the primary information that has been developed with the usage of
questionnaire method. In this, responses provided by each and every respondent would be
evaluated in such a manner that will contribute in drawing valid outcome over the same.
Recommendation
This is the second last chapter in every investigation which has its own importance in
every research. In this section according to the overall information developed from the research
investigator provides recommendation to the business or the one for whom this research has been
conducted. The present investigation has been conducted on Romanian entrepreneurs therefore,
this section will provide clear suggestion to the Romanian entrepreneurs that will support them in
introducing their new business venture in UK.
Conclusion
This is the last section of this dissertation which specifies overall conclusion drawn on
the research topic by analysing both the primary and secondary method of data collection.
Conclusion is also based on the findings developed from this section which helps readers in
understanding overall findings in accurate manner.
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Literature Review
Literature section in every investigation is completely based on the secondary research
which simply shows that how effectively investigator has made use of books, journals, articles
and other published material for gathering maximum information on the proposed research topic.
This section includes views and perception of different authors and other writers presented over
several medium. With reference to the current investigation conducted on the topic i.e.,
“Examining the factors that motivate Romanian entrepreneurs to set up business in UK”,
investigator has gathered secondary data on the respected topic in order to draw maximum
information on the proposed topic within minimum time period. In order to made easier and
more understandable literature review section has been conducted in various sub section that one
by one shows views and perception presented by the authors on different topics. All the divided
section on this topic is explained as below in detailed manner.
Importance of motivating Romanian entrepreneurs in terms of establishing business
On the basis of viewpoint given by the author named as Popescu and et. al., (2016), it has
been analysed that entrepreneur is the one who brings innovation and creativity within the
society with the motive of establishing their own business and earning profits from the same.
Entrepreneurs has higher number of skills among the risk taking is the most appropriate one as
they along handles the business and manages all associated risks accordingly. In addition to this,
it can be said that if the nation has more number of entrepreneurs then there are chances that they
would more chances of the economic growth of the nation too. This is so because, it develops
range of opportunities for the individuals belonging to that nations as it develops range of job
platforms, allows other associated people in enhancing their approach over the innovative
technology, etc. In addition to this, if it is talked about the society then it can be said that
increasing number of entrepreneurs at marketplace makes it easier for the nation to develop well
being of the society in adequate manner. On the other hand another author has argued that
entrepreneur is the one who analysis overall market situations especially the problems which is
being faced by themselves as well as other and develops the particular product or service
accordingly so that that specific issue could be overcome in appropriate manner. Entrepreneurs’
handles work associated with the business at its own level that includes finance handling,
arrangement of capital, decision making, allocation of the resources and many others in
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appropriate manner (Donckels and Miettinen, 2019). With reference to Romania it can be said
that entrepreneurship is becoming common with the cultural of Romania which enhances
chances of development of more number of businesses which ultimately brings innovation,
improvement and growth in the society that leads to increasing success too. Along with this, it
can be said that larger number of entrepreneurs simply means the increasing number of
businesses within the nation that leads to attainment of increasing competition within the society
that develops more number of options for the people belongs to the same nation.
From the views expressed by Ramadani,Gerguri-Rashiti and Fayolle, (2015), it can be
said that UK holds strong market share across the overall economy in terms of influencing
Romanian entrepreneurs to develop and establish their business in adequate manner. The main
reason determined behind is that UK’s separation from EU which will ultimately affect the
overall growth as well as performance of the nation. Here, it can be said that increasing number
of Entrepreneurs’ with in UK will surely provide support to the nation. Also, it will create range
of job opportunity for the localise people that will lead to improvement in the economic
positioning of country. In this, UK shows its own support and coordination towards the
entrepreneurs who wishes to establish business within UK. Also, the nation also focuses on
making use several motivational tactics that could easily influence interest of Romanian
entrepreneurs to establish their business within the UK in appropriate manner. In addition to this,
it can be further said that nation can also enhance number of job opportunities for the citizen of
UK which will enhance their standard of living in lucrative manner.
Factors that motivate Romanian Entrepreneurs to setting up their business within UK
. In today’s scenario, the development and emergence of entrepreneurship is considered to
be a growing phenomenon as it is however linked with nation, market and economy.
Entrepreneurs can be seen in every field of business whether it is small, medium or large. There
are many factors that influence entrepreneurs but the main element which drive them is
developing and developed market area. It has been analysed that in most of the developing
nations SMEs are more than 95 percent which is higher than usual with around 60 percent of
workforce.
By motivating entrepreneurs, one can transform and individual from an ordinary man to a
powerful businessman (Ramadani, 2015). Moreover, this will help in creating more job
opportunities with considerably better economic growth and development. Motivation factors are
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generally classified into two i.e. push and pull. Former includes elements such as family income,
not finding appropriate job etc., whereas, pull factors like need of interdependence, reputation in
society and many more. Therefore, to understand this better some of the factors are mentioned
below which motivate Romanian Entrepreneurs for establishing their business in United
Kingdom.
Financial Resources: We cannot deny the fact that most of the Entrepreneurs start their
business to make lots and lots of money but there are some of them who solely work with the
purpose of providing benefits to the needy people. When talking about financial resources¸
United Kingdom, after Brexit a growth of around 1.2 percent in GDP of UK was noticed in 2019
if it compared with the data of 2018 provided by IMF i.e. 1.4 percent. Later on, IMF predicted
that there will be a stability in growth of GDP and it will remain at 1.4 percent in 2020 and 1.5
percent in 2021 which is competitively a moderate growth (Economic Context of United
Kingdom, 2016). Besides this, country’s employment rate is high therefore, Romanian
Entrepreneurs by setting their business in United Kingdom will provide them with good
workforce. As a result, it will help them in increasing their profits and market share in a
speculated time frame. Along with this, United Kingdom has a great access to real estate and
equity which moreover provide permission to individuals to come together and work with
innovative ideas and thoughts.
Along with this, United Kingdom is considered to be the biggest band of capital in
Europe in the field of technology because in 2017 UK raised its funds to near around €7.1 billion
which was a record in start-up investment. Although Romania has good economic stability but
for expanding its business financial resource can work as one the factor for entrepreneurs.
Mindset: This is considered to be a prime component in terms of the behaviour of an
entrepreneur. While establishing a business it is essential that an entrepreneur has a determined
mindset so that focus can be on achieving goals. Workplace environment of United Kingdom
provides a different ecosystem if compared with Romania (Păunescu, Popescu and Duennweber,
2018). UK has a pool of talented people from diverse field. Along with this, country has a great
network of accelerator, funds can be raised easily. Generally, entrepreneurs in their start-up
business look out for raw talents who have innovative ideas and have a unique mindset of doing
an activity differently. Therefore, United Kingdom, is considered to be one of the best places for
entrepreneurs to start or establish their business.
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Challenges that Romanian entrepreneurs face while introducing the new business venture in UK.
Growing business although provide great opportunities, increase profit, market share etc.,
but we cannot deny the fact that it brings some challenges as well. With the expansion or
establishing of companies, entrepreneurs can come to know about what suits best for the
company as well as for customers. Therefore, proper market strategy can help new organisation
in coping up with difficulties. Besides this, managing business as a young entrepreneur can
create a chaos result in pressure. Thus, what becomes important for an entrepreneur is to identify
challenges and how it can be solved. Furthermore, below are some of the challenges which can
be faced by an entrepreneur while establishing its new business in United Kingdom.
Local Competition: It is possible that entrepreneur’s business is new and unique but there
might be a possibility that field in which entrepreneur wants to establish his/her business is
already existing in that particular place. This can obviously come out as a disadvantage,
entrepreneur has to deal with tariffs, import fees etc., thus, it becomes important that
entrepreneurs remain caution and have an eye in activities local competitors. Furthermore, to
eliminate and cope up with this problem one should build a working relationship with local
suppliers, logistics, etc., Therefore, with the help of local knowledge Romanian entrepreneurs or
their companies can get benefits.
Tax Codes and Compliance Issues: Every country has its own tax policies and compliance
issues to follow and without this no new firm can establish their business because they have to
follow their protocols. Thus, to operate its business in an effective manner it is important that
company have proper knowledge about trading standards, rules and regulations because if these
are not followed than establishing business can be put on halt (Szarucki, Brzozowski and
Stankevičienė, 2016). Therefore, to avoid this kind of challenges knowing legal requirements
and tax policies is essential. With the help of legal advisory entrepreneur can seek to things that
are to be followed.
Supply Chain Risks: For smooth conduction of business it is important that proper supply
chain regulated. Import, shipping, export, logistics are some of the factors without which
company cannot be run. Therefore, managing such chains across national boundaries plays an
important role and for this, development of proper strategy and business plan is must. No one can
just wander around in foreign city without having proper information.
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Hiring Right Employees: In order to accomplish business goals and objectives it is
required that entrepreneurs hire right people who believe in their project and idea. However, they
are the one who do their job of achieving set targets and goals in a speculated time period.
Therefore, with the help of walking interview one can select suitable candidates for their job.
Entrepreneur must look out for experts from every field such as finance, marketing, HR and
many more. Considering all these factors, entrepreneur and its company will have proper idea
regarding making strategies and executing the same.
Henceforth, these are some challenges which an entrepreneur can face while operating
business in different areas or in United Kingdom. Thus, main focus of entrepreneurs should be
proper planning before establishing its business otherwise negative outcomes could be faced and
instead of growth entrepreneur or company can decline.
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Research Methodology
It is one of the important section in which research methodology is considered as a methodical,
hypothetical investigation that execute by analyst with the point of assessing the best possible
information towards the predetermined field of study (Gjesfjeld and et. al., 2020). Alongside this,
it additionally involves different hypothetical investigation that comprise different techniques
and standards. By this, specialist can gather reliable or important information and data towards
the predefined point. Thus, researcher is liable for choosing reasonable and fitting strategies to
gathered solid and real information. This can be advantageous in drawing a substantial and
legitimize results that make entire research fruitful and valid too.
Research Philosophy: It is referring to the compelling views and ideas for undertaking a
particular research exercises as it incorporates diverse mentality that perform task exercises in an
unexpected way. Basically, it consist a convincing arrangement of examples which consider
socially developed perspectives and requirements that is actualize by the investigator while
undertaking research. Essentially, there are two kind of methods of reasoning for example
positivism and interpretivism. For performing current research, researcher will be applied
positivism look into reasoning as it characterizes consistent information that support in
understanding clarification of human activities towards the chose theme.
Research approach: It is crucial for researcher to make a viable wider assumption in which
information ought to be gathered, dissected and translation the equivalent. It is classified into two
technique, for example, inductive and deductive research approach. For undertaking present
examination, research maker will utilize deductive methodology as it helps in giving quantitative
data that is quantifiable in nature and furthermore show the connection between two idea and
factors also. This will also support researcher in effectively make a legitimate determination
toward the selected study.
Research strategy: It is based on the specified structure that utilized by examiner to finishing
the study in reliable manner. In this regard, it is significant for researcher to execute a compelling
methodology with the goal that they can successfully make a substantial determination at the end
of the study (Gaur and Kumar, 2018). As there are different strategies such as, survey, interview,
questionnaire, observation and some more. From these, questionnaire is one of the powerful
systems that help understanding the view purpose of representatives towards the selected topic
and area as well.
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