Entrepreneurial Climate: The Role of Online Social Networks in the Entrepreneurial Ecosystem

Abstract

There is a consensus in the literature that some geographic areas have a more positive entrepreneurial climate than others (Tienda & Raijman, 2004; Gartner et al., 2004). Entrepreneurial climate encompasses the entrepreneur’s entire functional environment including opportunities, skills creation and social support. The expansion of social support sources and networks beyond the local community is key to creating successful business ventures (Rhodes and Butler, 2004). The environment in which the entrepreneur lives and works creates a social context which often times will determine the number and types of relationships formed and in turn influence the types of opportunities recognized for exploitation and business creation.