Business Commons^™

Entrepreneurship In Marinas: Does A Business Plan Translate Into A Successful Business?, Michelle Byrnes

Honors Theses

The field of entrepreneurship is recognized as being of fundamental importance for our economy. Small business entrepreneurs play a crucial role in generating new products and new employment in the United States. However, according to U.S statistics, eight out of ten entrepreneurs who start businesses fail within the first eighteen months. Understanding the factors that can increase the likelihood of success is crucial. One theory of successful entrepreneurship is that it stems from a strong business plan. This thesis will examine how this is indeed the case for owning a marina on Long Island.