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Survival and growth of Hungarian start-ups

Author

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  • László Radácsi

    (Budapest Business School, Hungary)

  • Judit Csákné Filep

    (Budapest Business School, Hungary)

Abstract

Most start-ups die and most survivors fail to grow dynamically. The aim of the paper is to summarize the factors found in the international literature, supported by empirical research, that influence the survival and growth of start-ups, and evaluates the results of expert interviews conducted with renowned players in the Hungarian start-up ecosystem. During the research process fourteen expert interviews were conducted and analysed with combined logic, integrating deductive and inductive approaches. Based on the results, there is little overlap among factors identified in the international literature and those highlighted by Hungarian experts as influencing the survival and growth of start-ups. However, international and Hungarian results unanimously emphasize that entrepreneurial education, internationalization, acquisitions and heterogeneity of the start-up team’s knowledge and skills play a significant role in the success of start-up businesses. Despite the limitations of the research, results may prove to be beneficial to both start-up ecosystem players and policymakers.

Suggested Citation

  • László Radácsi & Judit Csákné Filep, 2021. "Survival and growth of Hungarian start-ups," Entrepreneurship and Sustainability Issues, VsI Entrepreneurship and Sustainability Center, vol. 8(4), pages 262-279, June.
    • Handle: RePEc:ssi:jouesi:v:8:y:2021:i:4:p:262-279
    DOI: 10.9770/jesi.2021.8.4(15)
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    References listed on IDEAS

    as
    1. Del Sarto, Nicola & Isabelle, Diane A. & Di Minin, Alberto, 2020. "The role of accelerators in firm survival: An fsQCA analysis of Italian startups," Technovation, Elsevier, vol. 90.
    2. Jing Xiao, 2015. "The effects of acquisition on the growth of new technology-based firms: Do different types of acquirers matter?," Small Business Economics, Springer, vol. 45(3), pages 487-504, October.
    3. Olof Ejermo & Jing Xiao, 2014. "Entrepreneurship and survival over the business cycle: how do new technology-based firms differ?," Small Business Economics, Springer, vol. 43(2), pages 411-426, August.
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    Cited by:

    1. Petra Kinga Kézai & Attila Kurucz, 2023. "Crisis Resilience of Startup Companies (The Case of Hungary among the Visegrad Countries with a Focus on the Pandemic)," Sustainability, MDPI, vol. 15(9), pages 1-25, April.

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    More about this item

    Keywords

    start-up; survival; growth; expert interview; Hungary;
    All these keywords.

    JEL classification:

    • M13 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - New Firms; Startups

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