PESTEL Analysis of External Environment as a Success Factor of Startup Business

ABSTRACT: The objective of this paper is to present the purpose of PESTEL analysis as a critical factor for startup success. It proposes the use of PESTEL analysis as a tool to evaluate the business environment for startup organizations, with emphasis on the most common challenges faced by startups in conducting a PESTEL assessment. The main goal of the paper is to provide an overview of the situation, identify areas of importance for improvement, and define guidelines for startup business, with the aim of increasing competitiveness. Contribution of the paper is theoretical and empirical, in the specific context of PESTEL analysis for startup business. KEYWORDS: PESTEL analysis, business environment, start-up, organisation, entrepreneurship

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