Deniss Ščeulovs, Vladimirs Šatrevičs, Elīna Gaile-Sarkane



The formation of new companies is considered to be one of the most important sources of new workplaces creation. In United States new companies generate half of all new workplaces in the country (SBA, 2012). Therefore, in Latvia it is particularly important to encourage new businesses’ formation and development in order to achieve both economic growth and improvements in employment. The purpose of the Research paper is to study the factors that positively influenced the development of enterprises, named as “success factors”, creating success factors model affecting entrepreneurial process.

Methodology the theoretical and methodological groundwork of the study is based of scientific and business literature. In the research generally accepted qualitative and quantitative data analysis methods of the economic science were employed, among them, statistical data processing, data grouping, and inductive-deductive data analysis methods. The scientific study employs surveying, observation study method, as well as comparative, and analytical methods, which are used by the authors to compare and analyse facts and assess solutions to specific issues. Microsoft Excel and QDA Miner programs were used for processing and analysing the study results.

Findings: paper investigate stakeholders values role in entrepreneurial process during development process. It is also questioned by the authors of the paper why Latvian many start-ups are short-lived? Why in Latvia not so much success stories compared to other countries – for example Estonia, Scandinavia and United States (in proportion to the size of the economy or population). It is noted several possible causes: lack of access to finance to start-up business, quality of education programs, lack of access to infrastructure and other factors. 


entrepreneur; success factors; development of a company; growth; stakeholders values

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Action funded by the Ministry of Science and Higher Education under the contract number 916/P-DUN/2019 by funds dedicated to dissemination of research findings. Preparing for publication papers in English and employing reviewers affiliated in research institutions abroad in 8 issues of the Journal of Positive Management in 2019-2020: Vol. 10, No. 1-4, Vol. 11, No. 1-4.

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