Successful Entrepreneur Factor of Small and Medium Business in the Central Region of Thailand

Abstract

The objective of this study was to study the relationship on linear relationship model of causal factor of psychological factor, personal characteristics factor, network factor, and innovation factor affecting successful entrepreneurof small and medium business in the central region of Thailand. This study is the quantitative research by using the questionnaire set as a tool to gather the data from 1.500 samples, who are entrepreneurs in the small and medium business in the area of manufacturing, trade, and services sectors. These samples are also the member of the office on small and medium enterprises promotion (OSMEP) as well as are senior executives or business owners. The statistics used to analyze the data were percentage, mean, and standard deviation; and the analysis of relationship on linear relationship model of causal factor was the Structural Equation Model: SEM, at the statistical significance level 0.05.

The result found that the relationship on linear relationship model of causal factor was good fit to the empirical data with the statistical significance: Chi-square was 18.05, p = 0.31, df = 15, p-value = 0.00, 2 χ / df) = 1.20, GFI = 0.85, AGFI = 0.71, RMR = 0.021. In terms of validity of the observed variables, it was found that the achievement-oriented factor has the most value of 0.99, followed by the dependence factor with value of 0.98. The standardized coefficients value of successful entrepreneur factor has the value of 0.83. This value indicates that all factors in the relationship on linear relationship model of causal factor are able to describe the variance of successful entrepreneur factor by 83 percent.The result can be used for the recommendations to drive the strategic planning and strengthen the successful business for entrepreneurs of small and medium business in the central region of Thailand.