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March 2020 (published: 04.03.2020)
Home > Issue > Termination of entrepreneurial activity: causes and strategies
Termination of entrepreneurial activity: causes and strategies
The termination of activity by entrepreneurs received insufficient attention in the works of Russian and foreign scientists. At the same time, sooner or later every entrepreneur ceases his activity. The aim of the study is to analyze the main causes and ways of business termination, as well as to assess the level of exit from business for various reasons in economically developed countries. The results of the Global entrepreneurship monitoring project for 2018, as well as data provided in scientific publications, were used as initial data. In the course of the study, the classification of the reasons for the termination of entrepreneurial activity is proposed and the values of indicators characterizing these reasons are estimated. The strategies of entrepreneurs' exit from business, based on different options, forms and methods of implementation relevant processes, are considered. Originality and scientific novelty of the work: it is shown that in most economically developed countries exogenous causes do not have a great influence on the exit of entrepreneurs from business; the termination of business activity is mostly due to endogenous and personal reasons; every thirteenth entrepreneur goes out of business in order to turn the accumulated assets in the course of their activities into cash. The study aims to understand the causes and strategies of business cessation. It is of scientific and practical importance, as it brings new information about the features of the termination of business activities, as well as the existing levels of exit from business for various reasons. The availability of such information is of interest to entrepreneurs, as well as government agencies and other organizations associated with the formation of plans, programs and forecasts for the development of the business sector. This article continues the discussion on the issue of business termination.
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Keywords: entrepreneurship, termination of entrepreneurial activity, exit from business, strategies, reasons, countries, monitoring of entrepreneurial activity.
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