Analysis of Internal Factors for Improving the Performance of Startup Companies in Medan, Indonesia

Abstract

Everyone can increase their income with various businesses, one of which is by opening a business, there are various types of businesses involved. Especially now that he is opening a business by utilizing technology and creativity, which is now known as a startup. Since 2015, the startup business has been introduced and has been growing since the pandemic hit the world in 2019. Startup businesses are increasingly mushrooming in Indonesia, supported by the government program “The National 1000 Startup Digital Movement”. So that the development of startups in Indonesia by Mr. Bonifasius Wahyu currently occupies the fifth position in the world with the largest number of startups in the world at 2,229 startups in April 2021. In running a startup business, it is very important to pay attention to external and internal factors, but in this study to analyze internal factors consisting of marketing, finance, human personal and operational communication. With a sample of 75 startup companies using a purposive sampling technique and processed with SPSS, by performing multiple regression analysis. The results show that internal factors, namely marketing communications, finance, human resources and operational activities, have a positive and significant impact on startup business performance, with a contribution of 0.871 or 87.1%. The variables that most influence the performance of startup companies are marketing communications, followed by human relationship, financial and operational.

The Relationship between Startup Incubator Development and Venture Capital Investment on Digital Economic Growth in Indonesia

“…The Indonesian startup ecosystem has witnessed rapid growth and evolution in recent years, propelled by factors such as demographic trends, increasing internet penetration, and favorable regulatory environments. The country's young and digitally-native population represents a vast market for digital products and services, creating opportunities for startups to innovate and scale rapidly [7], [24]- [26].…”

“…Programs such as tax incentives for startups, regulatory reforms to promote venture capital investment, and initiatives to improve digital infrastructure have created an enabling environment for startup formation and growth. As a result, Indonesia has emerged as a regional hub for digital innovation, attracting both domestic and international investors seeking opportunities in the rapidly expanding digital economy [7], [24]- [26].…”

The Effect of AI Technology, Innovation Readiness, and Digital Entrepreneurship on Competitive Advantage in Start Up in Jakarta

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“…In addition, the Edtech sector in Indonesia is also growing rapidly, offering innovative learning possibilities and contributing to economic growth [4]. Dynamic capabilities, entrepreneurial orientation and innovation play an important role in improving performance and achieving competitive advantage in various sectors, including culinary businesses in Indonesia [5].…”

Exploring the Relationship Between Regulatory Compliance, Internal Control, Managerial Competence, and Financial Integrity of Indonesian Start-Ups

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