Prior business experience is thought to play an important role in the success of a newly launched firm or business. It provides guidelines to an entrepreneur who starts a business with new ideas and innovations. Therefore, entrepreneurial experience is important and can help to lessen uncertainty. This article aims to implement a quantitative and analytical approach to analyze the work experience of entrepreneurial businesses belonging to the fast-food industry in Karachi (Pakistan). The researchers investigated 100 fast-food units from Karachi selected by convenience sampling method to check the effect of prior work experience of an entrepreneur on the progress and development of a fast-food business. It also helps the individuals start and manage the new business. The researchers chose 100 entrepreneurs with prior work experience as a sample. Based on data analysis, we find a relationship between work experience and the success of the entrepreneurial business in Karachi, Pakistan. It shows that prior work experience supports any business. Work experience acts as a business manual for a newly established business. It keeps entrepreneurs safe from most of the business hurdles at starting level. The significant theme of this research is that it provides a guideline for establishing new businesses. In Pakistan, no such research fulfills the research gap as pointed out by the researchers in this study. The study finishes with a discussion of the findings and suggestions for further research.
The delayed recording of transactions creates risk for small and medium entrepreneurial businesses. This practice may become the cause of errors, and fraud in business records may suffer in the future. The study aims to create awareness among entrepreneurial businesses. The data was collected from 120 respondents by convenience sampling method. Used a well-developed and verified scale closed-ended questionnaire for primary data collection. Used SPSS and descriptive statistics for data analysis. The results showed that many irregularities occurred in small and medium entrepreneurial businesses due to the delayed recording of business transactions. Pointing out the delayed recordings of business transactions practice in small and medium entrepreneurial businesses is a grey area and is a novelty for this research. The guidelines may be followed by other small and medium enterprises for keeping them safe from irregularities.
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