Model Variables Failed Mean (n = 110) Failed S.D. Success Mean (n = 120) Success S.D.
1. Capital
(1 adequate – 7 inadequate)a
5.85 2.66 4.39 1.71**
2. Record Keeping and Financial
(1 poor – 7 good)
4.33 1.49 4.56 1.59
3. Industry Experience
(number of years)
8.11 5.60 10.92 6.79**
4. Management Experience
(number of years)
7.69 5.39 9.69 6.43**
5. Planning
(1 specific – 7 no plan)a
3.75 1.91 3.76 1.30
6. Professional Advice
(1 used – 7 not used)a
4.29 1.86 4.01 1.69
7. Education
(1 none – 7 doctorate)
1.86 0.86 1.75 0.73
8. Staffing
(1 difficult – 7 easy)
5.51 1.22 6.59 3.78**
9. Product/service Timing
(1 introduction – 7 decline)a
3.18 1.35 3.04 1.14
10. Economic Timing
(1 expansion – 7 recession)a
3.39 1.21 3.33 0.91
11. Age of Owner
(number of years)
33.51 9.35 31.91 10.51
12. Partners
(1 owner 49.5% - 2 Partners 50.5%)
1.20 0.41 1.23 0.41
13. Parents
(1 yes parent owned business 45.7% 2 no 54.3%)
1.80 0.39 1.86 0.35
14. Minorities (Foreigners)
(1 yes 15.9% – 2 no 84.1%)
1.96 0.18 1.99 0.09
15. Marketing
( 1 unskilled – 7 skilled)
4.25 1.60 4.91 4.43*