Research On Growth Evaluation Of New Ventures In Wuhan

In today's world, entrepreneurship has increasingly become a strong driving force for economic development, new ventures play an increasingly important effect in a country's socio-economic. In developed countries, new ventures have become an important factor to promote scientific and technological progress, enhanced products competitiveness in the domestic and international market. In many developing countries, new ventures play a significant role to increase employment opportunities,enhance the competitiveness of their products , improve market competition environment and promote national economic development. However, the development of new ventures has a lot of uncertainty, because of the complexity of new ventures' and the intense competitive environment. Now, China is at an entrepreneurial era, the rapid development of science and technology and extensive application provide a broad entrepreneurial space for the venture; the establishment of market economic system makes most people may become involved in entrepreneurial activities;The introduction of numerous laws and regulations,such as Company Law, and Securities Law, Investment Fund Law, as well as the regulations of high-tech development zones encourage entrepreneurs actively involved in science and technology entrepreneurial activities, and guarantee the legitimate rights and interests of entrepreneurs;Financial markets, high-tech Growth Enterprise Market, venture capital funds provide adequate funding for entrepreneurial activities. In the 1990s, new ventures ,which is the main founders of new industries and main force of new economic, and also an important way to solve the unemployment problem, have been extensive attention in the area of theory and industry. Especially, in the background of the times of China's vigorous advocacy of independent innovation,the study on the growth of new enterprises has very important practical and theoretical significance.At present,the entrepreneurial enterprise management theories have been more comprehensive, but on the growth of entrepreneurial enterprises, mainly researchs concentrated in the growth mechanism and the growth stage of enterprise ;for new ventures , research focused on how to attract venture capital,conditions for entrepreneurial,entrepreneurial environment, ventures financing, pay less attention to the growth of new ventures .So , this paper, which based on the past research literature, focused on the new ventures in Wuhan City, put forward a theoretical model to analysing the growth of new ventures through Financing Capacity,Management Capacity,Marketing/Sales Capability, Technological Innovation Capability, Entrepreneurial Ability,Product or Service Resources, Human Resources,Corporate Governance and Corporate Culture nine factors. In empirical studies,this paper make a comprehensive evaluation to 25 new ventures in Wuhan city by using partial least-squares (PLS) method .This paper is divided into six parts.The first part is the introduction. This section introduces the research background, research meaning and methods, literature review, research content and innovation.The second part is the outlined of the growth of new ventures .This section includes four parts:the definition of enterprises growth and new ventures, the growth process of new ventures ,and the affecting factors of new ventures'growth.The third part ncluding the establishment of evaluation index system and introduction of the path of PLS model.The fourth part is the empirical research of new ventures'growth in Wuhan. This chapter includes completion of the verification model assumptions, and the analysis of research results,following is the comprehensive evaluation of new ventures in Wuhan , the last is growth strategy to new ventures in Wuhan.The fifth part is summary and prospects.The conclusion part summarizes the article, pointing out the deficiency of the article and prospect to studying in the future at the same time.Through theoretical study and quantitative empirical research, that the main conclusions of this paper is:the influencing factors to the growth of new ventures in Wuhan are Financing Capacity,Management Capacity,Marketing/Sales Capability, Technological Innovation Capability, Entrepreneurial Ability,Product or Service Resources, Human Resources,Corporate Governance and Corporate Culture. Further, the core factors which decide whether the enterprise can grow up are Entrepreneurial Ability,Technological Innovation Capability, Management Capacity and Corporate Governance.