Opportunity entrepreneurship in the rural sector: evidence from Greece

Abstract

PurposeAlthough previous research acknowledges that the process of entrepreneurship is also a regional and a peripheral activity, empirical evidence concerning the personal and contextual factors affecting business start‐ups due to the identification of opportunities in rural contexts is limited. The purpose of the present research is to verify whether prior entrepreneurship theories conducted in urban contexts are useful for predicting entrepreneurial activities in rural contexts.Design/methodology/approachA short, self‐report questionnaire was administered to a random sample of 81 business owners located at a small town in southern Crete, Greece. Bayesian confirmatory factor analysis and logistic regression analysis were the main analytical tools used.FindingsResults suggest that entrepreneurs' personality, prior knowledge, expectation of future social status, and level of education are significant predictors of opportunity entrepreneurship.Research limitations/implicationsThe reported research relied on self‐reports and on a sample from the Greek public sector. Moreover, data are cross‐sectional. Future research should be multinational and longitudinal to test the assumptions of the present study.Originality/valueThe present study provides evidence about the utility of existing opportunity entrepreneurship theories in rural contexts. Results could be of value to policy makers focusing on the development of small businesses and entrepreneurship and the promotion of entrepreneurial and innovative capabilities in rural contexts.