Author's Name: |
David J. Fogarty |
Subject Area: |
Social Science and Humanities |
Subject |
Accounting |
Section |
Research Paper |
Keyword:
Entrepreneur, start-up, business, analytics, research.
Abstract
Small business failures rates are highly dependent on industry type but even in the industries with the highest rates of success the 5-year survival rate of a new start-up barely exceeds the 50% threshold. Entrepreneurs typically wear many functional hats such as CEO, CFO and CMO. However, many forget to also be the Chief Analytics officers of their firm while their larger competitors are using their scale to invest heavily in analytics. This research will explore the hypothesis is that if more research was conducted prior to and during the early phases of a start-up there would be less small business failures and a better ability for small firms to compete in the marketplace against competitors both large and small.