The Influence of Entrepreneurial Ecosystems on Entrepreneurs' Perceptions and Business Success

Abstract

Entrepreneurship continues to grow and receives a great deal of interest from business researchers and practitioners for its importance in the modern economy. This study aims to contribute to the body of knowledge that the entrepreneurial ecosystem correlates with founders' perceptions and startup success. Data were gathered from surveys of 200 founders or CEOs of SMEs and startups in Tay Ninh City (Vietnam), who have operated their own companies for at least five years. The primary data analysis was performed using the partial least squares (PLS) technique. Five out of six ecosystem factors significantly affect entrepreneurs' perceptions and startups’ success, based on the results of the empirical data. Besides, the founders' perceptions also positively affect the success of a startup. The implications show the need to enhance entrepreneurship in a nation.