Latvia, a Baltic country, is ranked 27 in the World Bank Business Ranking (2016). If it needs to prosper, it needs to create an ecosystem to foster more citizens to start their own enterprise. The aim of the research is to analyze the importance of internal and external factors of start-up development in Latvia. The following hypothesis was tested: H(o): Internal Factors do not play a statistically significant role in the development of a start-up in Latvia. H(a): Internal and External factors do play a statistically significant role in the development of a start-up in Latvia.

Latvia, Start-ups, Funding