Analysis of Knowledge and Experience Effect on Start-up Success in Georgia

Abstract

In modern Georgia it is easy to start a business due to simple registration procedures. Many entrepreneurs use this opportunity to start their own venture, but the attempts are often unsuccessful. The article analyzes the differences between entrepreneurs with the previous start-up experience and first time company founders to highlight positive effect of education, experience and knowledge on start-ups. To better understand entrepreneurs needs for information, in 2015-2016 structured questionnaire with open and closed ended questions was conducted among randomly selected Georgian companies. The research defines that previous start-up experience as well as education, knowledge and the same industry work experiencehave significant effects on the success of start-up of a new venture.