Critical Success Factors for it Business Entrepreneurs in Bangladesh
Development of entrepreneurship plays a vital role in the economic development of any country like Bangladesh by generating employment, increasing GDP and expanding export. Development of IT entrepreneurs in Bangladesh has greater role for the economic development as this country is growing very fast in recent years. Due to massive use of information technology at all levels in all sectors of Bangladesh, creation of IT entrepreneurship and their success is very important. Hence, this paper aims at exploring the critical success factors of IT business entrepreneurs in Bangladesh. This study follows both qualitative and quantitative research methods. Two hundred ten IT business entrepreneurs of Bangladesh were interviewed with a structured questionnaire. Factor analysis was conducted to identify the critical success factors concerning IT business entrepreneurs in Bangladesh. Regression analysis was carried out to examine the relationships between the critical success factors and the overall success of IT business entrepreneurs in Bangladesh. The results show that there are four types of critical factors such as, organizational factors, strategic management factors, personal factors, and relationship factors in Bangladesh. However, the factors related to government and business environment are not responsible for the success of IT business entrepreneurs in Bangladesh. This study suggests that the policy makers of IT industry should focus more on organizational, managerial and relationship factors for the success of IT business entrepreneurs in Bangladesh.
Keywords - Critical Success Factors, Organizational Factors, Strategic Management Factors, Personal Factors, and Relationship Factors.