Success Model of Start-up Business in Thailand

Abstract

The objective of this research was to study 1) factors affecting the success of start-up enterprises in Thailand and 2) success patterns of start-up enterprises in Thailand. The research results revealed that 1) entrepreneurial characteristics, technology application and management, and innovative development directly affected the success of start-up enterprises in Thailand while mechanisms to support business development indirectly affected. 2) The success model of start-up enterprises in Thailand included that (2.1) Entrepreneurs had to possess committed thinking process and the desire to be leaders in building business to grow rapidly as well as seeking the approaches and future market demand, (2.2) the driving force between government and private sector must be in the same direction, (2.3) the network of business allianceshould be built to develop cooperation within the supply chain, (2.4) the government sectors must prepare learning, rules, laws, and provide facilities to be available in the same place. The place where innovation and technology experiment were held must be organized in order to know the benefits and impact of innovation and new technologies.