Aspects of a Start-up Company: An Entrepreneurial Venture Analysis

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ASPECTS OF A START-UP COMPANY
Various aspects of a start-up company and their benefits to the people
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ASPECTS OF A START-UP COMPANY
Table of Contents
1.1 Research background.................................................................................................................3
1.2 Research aim..............................................................................................................................3
1.3 Research objectives and questions.............................................................................................3
1.4 Research rationale......................................................................................................................4
1.5 Research problem......................................................................................................................4
Section 2: Literature review.............................................................................................................4
2.1 Various aspects of a start-up company......................................................................................4
2.2 Impact of entrepreneurship business on the common people and their benefits towards the
community.......................................................................................................................................5
2.3 Challenges where SMEs may be affected due to large companies...........................................6
Section 3: Methodology...................................................................................................................7
3.1 Introduction................................................................................................................................7
3.2 Research approach.....................................................................................................................7
3.3 Research Design........................................................................................................................8
3.4 Research Methods......................................................................................................................8
3.5 Research Strategy......................................................................................................................8
3.6 Data collection Method..............................................................................................................9
3.7 Population and Sampling...........................................................................................................9
3.7.1 Sample size.............................................................................................................................9
3.8 Research limitations...................................................................................................................9
Section 4: Ethical issues................................................................................................................10
Section 5: Time table.....................................................................................................................10
Section 6: References....................................................................................................................11

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Section 1: Introduction
1.1 Research background
In recent time, start-up companies have grabbed the interest and attention of public, policy
makers, investors and practitioners around the world. These types of start-up companies have
mainly originated from the developed nations like USA, UK, New Zealand and Australia.
However, SMEs has also contributed towards the local economies by bringing innovation and
growth. It also helps to motivate the financial growth by providing the employment opportunities
for the common public, who could not obtain the job in larger companies. The research is
concentrated on the aspects of start-up companies, which make an effect on the common people
(Mueller, 2011). The factors, challenges and impacts regarding the topic will discuss to obtain a
brief idea about the topic.
1.2 Research aim
The aim of the research is to find out the several aspects of a start-up company and their benefits
to the people.
1.3 Research objectives and questions
In this context, the main objectives to attain the research aim are:
 To identify the factors, which may drive a start-up company
 To examine the impact of entrepreneurship business on the common people and their
benefits towards the community
 To recognise the challenges where SMEs may be affected due to large companies
Research questions are:
 What are the possible challenges mitigating against any star-up company?
 What are the factors that may affect in the direction of development of a start-up
company?

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 What is the impact of Start-up Company on the common people and their advantages
towards the society?
1.4 Research rationale
In the last few years, the given topic i.e. Entrepreneurship is very vast and attracted one for the
people. This is the main motive why research would like to select the topic. Entrepreneurship is a
very difficult area and all the probable risk factors are to be estimated by the entrepreneur for
being ready for the probable outcomes. Entrepreneurship makes easier for a start-up company to
develop the business worldwide without any difficulty. However, this topic will support to gain
the knowledge how to start a company. The researcher would like to favour several resources
such as articles, journals, books and others to gain the knowledge about SMEs.
1.5 Research problem
Entrepreneurship is the most common aspect to developing the financial system but it has many
issues too. In the particular area where the start-up companies impact on the internal systems of
the companies do not have as much attention. The study will be recognized on the several
features of SMEs, such that development, growth and scope would be developed in terms of
start-up companies. To support the research topic, a main research problem will come forward
as, how the aspects of start-up companies are impacted on the society are and what is the main
role of entrepreneurship towards the people.
Section 2: Literature review
2.1 Various aspects of a start-up company
The main scope of entrepreneur ventures is to make new businesses as it may make jobs, develop
the production and strengthen the market competition. As opined by Islam et al. (2011), there
must be a huge range of external and internal aspects that may make a start-up business. Five
most significant aspects are to be considered to start a start-up company.
Value proposition- As noted by Ürü et al. (2011), value proposition is also as the positioning
statement, which exemplifies that what benefits will give by company. It is essential that these

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start-up companies spend their capital on the products along with services, which will further
give to the common people. This would support to create more jobs and make the lifestyle of
people easier. By recognizing the value proposition, the start-up company may determine on
what service or product they offer to the world.
Channels- In recent time, the most effective marketing strategy of the entrepreneur is multi-
channel marketing. According to Siegel and Wessner (2012), this is based around the concept
that customers that would like to buy the products while they use their favored channel. To make
a better position in the market, Start-up Company must determine on which distribution methods
would be utilized. However, channels like social media, website and email are to be highly
beneficial for any start-up company.
Customer relationships- This factor reflect on the ways in which the company set up their
contact and relationship with customers. However, if the product of a company is creating
demands among customers, then the company has already developed a better relationship with
customers (Islam et al. 2011). Next, the company must try to catch their attention by promoting
their manufactured items through several platforms.
Cost structure- As stated by Volkmann et al. (2012), start-up companies have several methods
towards contribute in the financial scale as they have a propensity to give people a benefit to
motivate economical, innovation dependence and create employment benefits. These cost
structure comprises of sales cost, technical costs, marketing costs, wages, and benefits.
Revenue streams- A start-up company may have several numbers of revenue streams, depending
on its dimension. Based on the revenue stream, select a model that Start-up Company may utilize
to generate the first sales.
2.2 Impact of entrepreneurship business on the common people and their benefits towards
the community
Start-up company has possessed the ability towards adapt and respond quickly towards changing
the economical climates. This is because of SMEs are often customer-base and identify the needs
and demands of common people. As argued by Nakara et al. (2012), most of the local customers
remain loyal to their preferred start-up company in the time of economical crisis. Another

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parameter could be providing the viable opportunities for employment, as this can create jobs
and increase quality in overall standard of living. Towards the economic integration, it will
increase in strengthening revenue and remain interconnected with the global economy. With that,
the young-tech firms and start-ups play in job creation that is documented in the contribution of
overall productivity (Tomczyk et al., 2013). Thus, the new technologies will help to promote
efficiency into new services and products, which people need to work with the help of creative
applications.
As opined by hlstrom and Ding (2014), the levels of development and creation for the start-up
companies have been a vital aspect for the economic developed countries. The importance of
Start-up Company in big cities and rural areas is seen as the economical benefits of shopping
locality. In current time, SMEs are now having the huge contribution towards the community as
they are recruiting new people in their respective companies (Volkmann et al. 2012). On the
other hand, the decision taken by the start-up company is always dominant and has more impact
in the decision making process. Here, the profit earned is controlled by the government, which
many times is invested back in the entrepreneurial venture for growing the business (Sahut and
Peris-Ortiz, 2014). The management teams of these start-up companies are now implementing
new strategies in order to take one-step ahead from other companies on a large scale. Small
business is getting a huge amount of production and taking a step ahead to GDP increments. The
status of the UK shows that more than 10 million residents do not have any kind of job. The
SMEs are now taking the charge to solve this problem of unemployment by recruiting employees
in their companies.
2.3 Challenges where SMEs may be affected due to large companies
Start-ups are known to have particular needs that larger companies will not recognise. These
requirements inevitably become the challenges towards the business owners. It is evident that
money is the main aspect for a start-up company and the company requires it in order to operate
in the competitive market. As opined by DeTienne et al. (2015), money is the big problem for
the company, as a lot of starting companies are forced to close due to lack of money.
Communication problems are another issue for the start-up company. In recent time, advanced
technology has developed the business communication in several ways since some problems

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regarding the communications remain unsolved. These issues have a main effect on how a small
business performs and they generally affect the main stakeholders. Through innovative and
creative thinking abilities, a start-up company develops and enhances the existing factors,
strategies and other several factors, which will further support in making the products and
service unique and special for the society (Do Paço et al., 2015). In this context, communication
is a big issue for the company. Further, this innovative trait of the entrepreneur helps in setting
higher goals for the business and helps in achieving those goals more effectively.
As argued by hlstrom and Ding (2014), another challenge needs to face on resolving the growth
and quality. While the company try to expand, their management has to make sure that the
quality and service remain the same. On the other hand, while cutting down the cost, a successful
company also focuses on maintaining the quality of the service and products, which help them in
serving the customers with best products. All these factors lead to the success of the organisation
making the company manager into a successful entrepreneur. Larger companies also are
beneficial from SMEs in the similar local community, as most of larger sectors are depending on
the small companies for completion of their several businesses functions through outsourcing.
Section 3: Methodology
3.1 Introduction
The research methodology is a very important part in order to analyses the overall research paper
as this could utilize that information for submitting the final report. This research topic is all
about the developing and small business from scratch as entrepreneurship makes the changes in
the modern industry. This research methodology will help the researcher from presenting a
proper presentation about the start-up company.
3.2 Research approach
The research approach is a very critical part of the research, as this will help the research to
manage the entire research methodology by using different explanation. Here, both inductive and
deductive approach will be taken by the researcher to recognize the various aspects of a start-up
company and their benefits to the people. However, inductive approach is utilized for the

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interview process while deductive approach is uses in the survey proposes (BNS and HV, 2013).
The research will describe the entire process of this new start-up company, as they will create a
huge impact in future for the economic system of any country.
3.3 Research Design
Research design delivers a very significant part as this research paper every research needs a
possible design to set up the entire research. This research design helps the researcher to make
proper research by maintaining some significant design. The researcher will take the mixed
method, as the descriptive method will help the researcher to make a proper objective by using
the qualitative method. The survey and interviews will help the research in future to get proper
data for the research aspect (Gioia et al., 2013). This will be analyzing the factors, which are
affected on Start-up Company. It also supports the researcher to recognize the concept of
entrepreneurship.
3.4 Research Methods
The researcher will take both qualitative and quantitative research method to develop this
research paper. The qualitative method can take several hypotheses to make the entire analysis of
the collected data. These statistics will consist of several data, charts and graphs to describe any
kind of data related to this research (Brinkmann, 2014). While qualitative data does not require
any kind of mathematical equation. The researcher will take both of these research methods to
collect and analyse the data requires to determine the effect of entrepreneurship on the society.
3.5 Research Strategy
In this given topic, the researcher will carry out a semi-structured strategy, which is regarded as
the best-method application for conclusion of the topic. This strategy involves both interview and
survey method, which may be undertaken for qualitative and quantitative data analysis for
recognizing the findings of given topic (Marshall and Rossman, 2014). The data collection
process engages both secondary and primary method, which allows the researcher to work on the
topic with the support of several journals and literatures.

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3.6 Data collection Method
The data collection process is another important part of any research paper as the researcher need
to collect all information from trusted sources in order to prevent any kind of error. Primary and
secondary data collection is two different data collection method. Primary data deals with on-
field data collection by taking surveys and interviews (Taylor et al., 2015). 25 employees will be
taken as the sample for the survey and 1 manager of a start-up company will select for the
interview purpose. The secondary data collection is like a collection of information from
different journals, PDF and other important articles. All of these will help the researcher to
collect the important information about the research.
3.7 Population and Sampling
To performing the survey method, a random sampling method will choose by the researcher.
This would help the researcher in getting data for performing quantitative analysis. In order to
complete that, a group of 25 employees will be selected who are already engaged in a start-up
company. The survey process will be drawn with the help of random sampling method.
However, for performing the interview method, a purposeful sample of one manager will be
selected.
3.7.1 Sample size
The target population is very important for any kind of research as this could help the research to
get proper research-related data. The researcher will take the survey process by taking 25
employees and 1 manager to deliver the survey and interview process.
3.8 Research limitations
The research can find a restriction in several places as the entire time scale is very small to make
proper research. Survey method and interview method takes huge time in order to find possible
information about a start-up company (Mackey and Gass, 2015). The researcher needs to get
possible authentication from respective companies in order to access their important data and
files. Otherwise, the researcher may face several problems and objections from the authority or
may face blacklist for tampering important files. Survey and interviews needs to be delivered
confidentially, as this could create problems in the companies of respective companies know

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about the survey and interviews. Therefore, it is better to take permission prior to applying for
the access of data.
Section 4: Ethical issues
The researcher will carry out the research project by enabling all the ethical problems. It would
be difficult for the researcher if the valuable information were given towards third party. After
that, third party would utilize the information to cheat the general people in several ways. Thus,
the interview method have to be done in a confidential manner, Further, this is actually
performed to have confidentially according to the research ethics. To obtain the information
about a start-up company, the researcher has to go through by several ethical problems. Besides,
the researcher should get prior permission from the respected authorities to conduct interview
and survey, and must agree to keep the data collected from the respondent in secret.
Section 5: Time table
Activities Weeks
Introduction 1
Presenting idea of proposal 1-2
Developing the dissertation 2-3
Developing literature review 3-4
Interview process 4-5
Survey process 5-6
Data collection and analysis 6-7
Conclusion 7-8
Final submission 9
Table 1: Timetable
(Source: Learner)

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Section 6: References
BNS, R. and HV, R., 2013. An overview of interpretive phenomenology as a research
methodology. Nurse Researcher (through 2013), 20(6), p.17.
Brinkmann, S., 2014. Interview. In Encyclopedia of critical psychology (pp. 1008-1010).
Springer New York.
DeTienne, D.R., McKelvie, A. and Chandler, G.N., 2015. Making sense of entrepreneurial exit
strategies: A typology and test. Journal of Business Venturing, 30(2), pp.255-272.
Do Paço, A., Ferreira, J.M., Raposo, M., Rodrigues, R.G. and Dinis, A., 2015. Entrepreneurial
intentions: is education enough?. International Entrepreneurship and Management
Journal, 11(1), pp.57-75.
Gioia, D.A., Corley, K.G. and Hamilton, A.L., 2013. Seeking qualitative rigor in inductive
research: Notes on the Gioia methodology. Organizational research methods, 16(1), pp.15-31.
hlstrom, D. and Ding, Z., 2014. Entrepreneurship in China: an overview. International Small
Business Journal, 32(6), pp.610-618.
Islam, M.A., Khan, M.A., Obaidullah, A.Z.M. and Alam, M.S., 2011. Effect of entrepreneur and
firm characteristics on the business success of small and medium enterprises (SMEs) in
Bangladesh. International Journal of Business and Management, 6(3), p.289.
Mackey, A. and Gass, S.M., 2015. Second language research: Methodology and design.
Routledge.
Marshall, C. and Rossman, G.B., 2014. Designing qualitative research. Sage publications..
Mueller, S., 2011. Increasing entrepreneurial intention: effective entrepreneurship course
characteristics. International Journal of Entrepreneurship and Small Business, 13(1), pp.55-74.
Nakara, W.A., Benmoussa, F.Z. and Jaouen, A., 2012. Entrepreneurship and social media
marketing: evidence from French small business. International Journal of Entrepreneurship and
Small Business, 16(4), pp.386-405.

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Sahut, J.M. and Peris-Ortiz, M., 2014. Small business, innovation, and entrepreneurship. Small
Business Economics, 42(4), pp.663-668.
Siegel, D.S. and Wessner, C., 2012. Universities and the success of entrepreneurial ventures:
Evidence from the small business innovation research program. The Journal of Technology
Transfer, 37(4), pp.404-415.
Taylor, S.J., Bogdan, R. and DeVault, M., 2015. Introduction to qualitative research methods: A
guidebook and resource. John Wiley & Sons.
Tomczyk, D., Lee, J. and Winslow, E., 2013. Entrepreneurs' personal values, compensation, and
high growth firm performance. Journal of Small Business Management, 51(1), pp.66-82
Ürü, F.O., Çalıskan, S.C., Atan, Ö. and Aksu, M., 2011. How much entrepreneurial
characteristics matter in strategic decision-making?. Procedia-social and behavioral
sciences, 24, pp.538-
Volkmann, C., Tokarski, K. and Ernst, K., 2012. Social entrepreneurship and social business. An
Introduction and Discussion with Case Studies. Gabler. Wiesbaden.
.