Factors associated with success and failure in Puget Sound wineries

ABSTRACT

This analysis empirically explores factors associated with success or failure of new wineries, using the empirical context of new wineries in the Puget Sound region of Washington State. Wineries are being established more frequently in various regions around the world. Hence, it is important to understand factors associated with new winery success or failure, so policy-makers and entrepreneurs can better nurture this important industry. Results suggest that factors related to success or failure include the geographic location of a winery, the total number of owners, past business experiences of owners, levels of business diversification, owner gender, and time period.

KEYWORDS:

• Small firm success
• small firm survival
• wineries
• hazard rate

Acknowledgements

The author would especially like to thank Ian Stone and Skylar Powell for their comments on earlier versions of this analysis.

Disclosure statement

No potential conflict of interest was reported by the author.