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ERIC Number: ED296860
Record Type: Non-Journal
Publication Date: 1987
Pages: 102
Abstractor: N/A
ISBN: N/A
ISSN: N/A
EISSN: N/A
Available Date: N/A
North Country Successes: Case Studies of Successful Entrepreneurs in the ANCA Region.
Chugh, Ram L.; Gandhi, Prem P.
This study identifies the characteristics of both successful small businesses and their entrepreneurial owners in a 14-county area of the Adirondack North Country Association (ANCA). Of the 100 survey respondents representing successful small businesses, 50% had been in business for less than 14 years; 38% were in manufacturing; 48% employed more than 16 full-time employees; and 63% had increased sales by more than 10% in the past 5 years. Twenty-three of the companies showed assets greater than $2 million. Significantly, 60% of the entrepreneurs were from outside the region and had been attracted by its quality of life. The entrepreneurs tended to be under 45 years of age, college educated, previously employed, and married. These entrepreneurs attributed their success to a determination to succeed, persistence, a willingness to work long hours, the uniqueness of their product, and innovative marketing strategies. They cited bureaucratic hurdles at the state and local level, and inadequate access to capital as barriers to success. A regional focus promotes economic development; the preservation of the quality of life in the area; the creation of venture and investment capital; legal and technical support services for entrepreneurs; and a more positive attitude toward economic development in the North Country area. (CS)
Publication Type: Information Analyses; Reports - Research
Education Level: N/A
Audience: N/A
Language: English
Sponsor: Adirondack North Country Association, Lake Placid, NY.
Authoring Institution: N/A
Identifiers - Location: New York
Grant or Contract Numbers: N/A
Author Affiliations: N/A