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Implications of Crises on Start-Up Management and Ways to Increase Business Resilience and Sustainable Development Cover

Implications of Crises on Start-Up Management and Ways to Increase Business Resilience and Sustainable Development

Open Access
|Jan 2024

Abstract

This paper aims to conduct an in-depth analysis of how recent crises have been experienced by Romanian start-ups from the perspective of their managers, through quantitative research. The authors also aimed to investigate the interest of entrepreneurs in sustainably developing their businesses and the actions they aim to take in this direction. Data were collected from a sample of 216 respondents, managers of start-ups operating in the Center and South-West Oltenia Regions. The results indicate that the COVID-19 health crisis and the international financial crisis, followed by the energy crisis, have had the greatest impact on the activity of start-ups and identify response measures that can be solutions to increase their resilience in times of crisis. The research can help managers of start-ups maintain business stability in complicated times and incorporate sustainability practices into their business strategy. Governmental, regional and local authorities, as well as entrepreneurship education providers, can also use the research results to initiate measures to support start-ups in their efforts to cope with current challenges and develop sustainably.

DOI: https://doi.org/10.2478/sbe-2023-0049 | Journal eISSN: 2344-5416 | Journal ISSN: 1842-4120
Language: English
Page range: 118 - 135
Published on: Jan 11, 2024
Published by: Lucian Blaga University of Sibiu
In partnership with: Paradigm Publishing Services
Publication frequency: 3 issues per year

© 2024 Camelia-Cristina Dragomir, Alexandra Zamfirache, Ruxandra-Gabriela Albu, Tiberiu Foris, published by Lucian Blaga University of Sibiu
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 3.0 License.