Entrepreneurial Infrastructure Research Articles

Business incubators in Croatia: Resources and results

The main objective of this study is to examine the resources that business incubators in Croatia have at their disposal and to analyze the business dynamics and financial performance of their tenant enterprises. Unlike the previous studies that mainly employed a survey of business incubators, this study, in addition to a survey of 24 business incubators in Croatia, also uses firm-level data of tenant enterprises. Findings indicate small management teams of business incubators and high demand for tenant enterprises for mentoring services. Policymakers should consider these empirical findings and support investments in knowledge, skills, and mentoring capabilities of business incubators’ management teams. The main limitation of the research is that it did not include data from tenant enterprises on the perceived quality of services provided by business incubators. However, the financial analysis of tenant enterprises is the first of that kind and will enable a more straightforward evaluation of business incubators’ success and, thus, better control over public spending. Keywords: business incubators; entrepreneurial infrastructure; incubators; new technologies; tenant enterprises

Modeling of the system of regional indicators of the development of a circular economy

The purpose of the article is to present a methodological approach to modeling the system of regional indicators in the context of the development of the closed-cycle economy. The employed research methods rely on the provisions of economic and statistical analysis, management theory, situational and adaptive approaches in management, system analysis, simulation modeling, the theory of finance and financial markets, and the theory of taxation. The authors emphasize the importance of accounting for such factors as finance, taxation, entrepreneurial infrastructure, and education for the successful implementation of closed-loop economy strategies at the regional level. The results of modeling the system of regional indicators clarify the estimated forecast of the consequences of the adopted managerial decisions in the financial and industrial policy for the introduction of technologies.

Building Entrepreneurial Infrastructure: Agency, Emergence and China’s Venture Financing System

Building Entrepreneurial Infrastructure: Agency, Emergence and China’s Venture Financing System

IMPLEMENTASI MATRIKS IMPORTANCE PERFORMANCE ANALYSIS (IPA) UNTUK MENGEMBANGKAN KEWIRAUSAHAAN MAHASISWA FAKULTAS EKONOMI DAN BISNIS UNIVERSITAS PANCASILA

The existence of entrepreneurs in a country is very strategic in order to create new jobs, absorb labor, and encourage independence in the community. The greater the number of business actors in a country, the stronger the country's economy. So every effort that leads to the formation of an entrepreneurial culture, especially on campus, needs to be encouraged. This study aims to (1). analyzing the development of student entrepreneurship activities at FEB UP, (2) Analyzing entrepreneurship courses from aspects of teaching materials, learning methods and targets for entrepreneurship lectures in fostering the entrepreneurial spirit of FEB UP students, and (3) How is the potential for entrepreneurship development among FEB UP students. Research respondents are FEB UP students who have taken entrepreneurship courses, the number of samples obtained is 140 students. Data analysis using Importance Performance Analysis Matrix. The results showed that in general, the quality of the implementation of entrepreneurship courses was considered quite good by students. The development of coaching activities at the Faculty of Economics and Business, Pancasila University is quite encouraging. The potential for developing an entrepreneurial spirit among FEB students at Pancasila University is very large, this can be seen from the results of research showing the increasing interest of students to consider entrepreneurship as a career choice after graduating from college, the more research and community service to develop the entrepreneurial spirit and the more many seminars, scientific discussions, and entrepreneurship-oriented student activities. To improve the entrepreneurial culture on campus, it is recommended to improve the implementation of the Entrepreneurship Court lectures by conducting lectures every semester. The entrepreneurial concept that has been produced by students must be supported by the entrepreneurial infrastructure on campus and provide support for investment cooperation from the campus to student businesses that are already running.

Key Principles of Governing Business-Incubator in University

Efficiency of economy development directly depends on implementation of measures supporting business entities, including upgrading entrepreneurial infrastructure. This problem was repeatedly discussed at the highest level of state governance of the Russian Federation, in particular within the frames of the President of Russian address to the Federal Assembly in 2021. Business-incubators are a key element of such infrastructure. It should be pointed out that specialized literature has not thoroughly studied the issue of business-incubators functions in today’s economy. In general these functions can be differentiated in accordance with the stage of macro-economic development and overall strategy of finance and economic policy observed within the frames of a concrete state, depending on geopolitical situation, trends in global economy changes, possible foreign economic preferences and risks. Effectiveness of today’s incubator development, viewed both in finance and social aspect directly depends on the quality of methodological tools of their functioning efficiency appraisal. The article gives a classification of business-incubators by a number of important economic and managerial criteria, which gives a chance to find their most preferable type depending on strategic goals and objectives of developing the incubator’s founder and general functioning requirements of the relative territorial (federal, regional or municipal) system of entrepreneurial work support. The author underlines that today’s business-incubator should possess a multi-sectoral character, it should be set up for the conventionally unlimited period, provide system and various finance support to residents , be integrated into space of digital economy, realize its own education programs of different profile and have a preventive model of management. Business-incubator is considered in two aspects. In a wider sense it is a specialized social and economic institution oriented to provision of long-term rise in intensity and finance and economic efficiency of entrepreneurial activity at the expense of favorable conditions for locating potentially competitive businessstructures at the initial stage of their life cycles on special territories. In the narrower sense business-incubator is an entity of territorial (federal, regional or municipal) system of supporting entrepreneurial initiatives, which could ensure their progressive development at the expense of providing production, technological, finance, information, consultative and other resources on preference or free of charge basis.

The large firm dilemma: anchor embeddedness and high-technology competition

Abstract Do large firms support or suppress regional entrepreneurship? Comparing Ottawa and Waterloo, two entrepreneurial ecosystems dominated by large, flagship firms, Nortel and Research in Motion (RIM), we demonstrate how an anchor firm’s relationship to the entrepreneurial community shapes entrepreneurial activity. In Ottawa, an engaged anchor delivered the public goods to overcome the negative externalities associated with large firm growth. In the long run, however, this vibrant, startup scene proved surprisingly vulnerable to Nortel’s decline. In Waterloo, in contrast, new firm formation plummeted under a detached anchor. RIM’s isolation, however, enabled Waterloo to construct the independent, entrepreneurial infrastructure it needed to capitalize on its collapse. Illuminating the mechanisms behind ‘entrepreneurial recycling’, or the reallocation of labor from declining anchor firms, we argue that regions confront a strategic dilemma in how they engage large firms.

Impact of Entrepreneurial Infrastructure on Profitability of Hotels in Minna, Nigeria.

Purpose: This study aims to examine the impact of Entrepreneurial Infrastructure (EI) on profitability of Small and Medium Enterprises (SMEs), focusing on hotels in Minna, Nigeria.
 Methodology: Sequential Explanatory Mixed research method was adopted. Purposive Sampling Technique was used to obtain a sample size of 51 out of a population of 70 hotels in Minna for collection of quantitative data via questionnaires, while Simple Random Sampling Technique was used to select 10 interviewees for collection of qualitative data via interviews. Descriptive statistics was employed in analysing the quantitative data, while thematic analysis was used in analysing the qualitative data.
 Findings: Quantitative findings revealed that the available EI in Minna had a negative impact on the profitability of hotels, while qualitative findings also revealed that interviewees generally felt a poor impact of EI on the profitability of their hotels.
 Practical implications: These findings would be useful to potential and practicing entrepreneurs in the hotel industry, policy makers and the academic community. It is recommended that government at all levels should formulate policies that will address challenges of the deplorable condition of EI in Nigeria.
 Paper type: Research paper

Changing role of finance in rural small enterprise growth in Ghana

Purpose This study aims to build on the emerging understanding that small enterprise growth results from a confluence of different factors. This study seeks to provide additional insights into the nature of these factors and how they influence the growth process of small businesses in rural communities in Ghana. Design/methodology/approach This study undertook a qualitative investigation of 28 small enterprises in three Ghanaian rural districts. Interviews were conducted with owners of the businesses. Findings The results indicate that growth-enabling conditions such as entrepreneurial ambition, market demand and infrastructure combine with finance to define small enterprise growth trajectories in rural Ghana. However, finance may not always be the major factor driving the growth. Originality/value Most past studies about small enterprise growth in Africa have concentrated on firms in urban communities and see finance gap as the most serious constraint to growth. This study joins the few recent studies about rural enterprise growth in Ghana, showing that the growth of these businesses depends on an interplay of a variety of factors.

The spatial impact of entrepreneurial zones: firm, city and inter-city evidence

ABSTRACT We investigate the impact of a decade-long, large public entrepreneurial infrastructure investment programme in an emerging European economy. Using a unique data set, we examine the short-run firm city and inter-city effects of entrepreneurial zones (EZs). EZs have a positive impact on business investment, sales and especially the export revenues of firms located within them. The positive economic effects of EZs are limited to host and neighbouring towns and cities, decrease with distance, and eventually become negative. This points to the localized nature of the effects of EZs and their potential for spatial redistribution and clustering of economic activity.

Determinants of Entrepreneurial Intentions: Impact of Culture, Gender, Self-Esteem, and Self-Efficacy on University Students

The main objective of this study is to examine the socio-cultural and individual factors that influence the entrepreneurial intentions among students studying the Public Sector Universities in Sindh Province. In the cultural context, three variables i.e., collectivism, power distance and uncertainty avoidance, one variable in social context i.e., gender-role orientation and two variables in individual context i.e., self-esteem and self-efficacy are used and empirically tested through the SEM model. It was found that all three components of culture have been negatively correlated with entrepreneurial intentions. These results infer that the prevalent family culture in Sindh Province is not supportive of entrepreneurial intention as respondents found strict control of elder family members over their future career choices, depressing and a hurdle in their way to become entrepreneurs. The feminist gender orientation of an individual is found to have a negative effect on the development of entrepreneurial spirit. This stands in support of the dominant notion that masculine gender orientation is required to become a vibrant entrepreneur. Under the masculine approach, an individual prefers to have characteristics like tough, assertive, calculated and pursue material success in life; contrary to the feminist orientation which focuses on being tender, modest and pursuing the relational quality in life. The findings reveal that individuals who carry a high worth for themselves and believe in their abilities to address the challenges of running a business tend to have more entrepreneurial intentions. Lastly, the role of gender as moderator shows that the cultural barriers have a more negative impact on the formation of entrepreneurial intents of female than male students. Based on the findings of this study and informal observations from students during the field, it is recommended that the policymakers should invest in strengthening the entrepreneurial ecosystem, focusing on the provision of entrepreneurial educational infrastructure, building family & culture support structures that can help potential students enhance their self-esteem, self-efficacy and get necessary socio-cultural capital to become successful entrepreneurs.

Knowledge Entrepreneurship versus Opportunity Entrepreneurship Driver of Economic Performance in Saudi Arabia

This paper understands the role of Knowledge-Based-Entrepreneurship (KBE) in changing the economy of Saudi Arabia into a knowledge-based economy. The ambition of this paper is to align entrepreneurship theorizing with the Saudi market needs by redirecting our entrepreneurship thinking away from the opportunistic metaphors to more creative and knowledge thinking. This paper reconceptualizes the entrepreneurship view. It is empirically compared between two dominant streams of theorizing on entrepreneurship: the opportunity view versus the knowledge view. A Mediation Model Path Test has been applied to examine the relationships. The analysis indicates that the opportunistic view is not adequate as a platform for entrepreneurial responding to Saudi economic changes. Instead, an alternative perspective is developed as Knowledge-Based -Entrepreneurship. The findings reveal that (KBE) has a positive and significant impact on economic performance. It is also found that (KBE) has a mediating effect on entrepreneurship more than the opportunistic effect. This perspective emphasizes the importance of building entrepreneurial knowledge infrastructure, that creates multiple forms of value. This paper contributes to the knowledge in the field of entrepreneurship by offering an alternative view of entrepreneurship grounded. It goes beyond investigating the economic support of adopting the Knowledge-Based-Entrepreneurship compared to the Opportunity-Based-Entrepreneurship.

ICT-BASED STUDENT ENTREPRENEURIAL PROJECTS ANALYSIS OF SYSTEMATIC SUPPORT AND EVALUATION OF STUDENT INTEREST

In today’s modern world, more than ever before, students are faced with entrepreneurship based on the use of information and communication technology (ICT) as a reasonable and justified career choice. Whether their career choice would be successful or not depends a lot on the level of system support through entrepreneurial ecosystem during their education.The main objective of this paper is to present the current assessment, indicate the problems and possible solutions regarding the entrepreneurial infrastructure, culture and potential of higher education institutions in Banja Luka, Bosnia and Herzegovina. To achieve this, we have researched the level of the system support to students for development and launch of their ICT based start-ups during and after their university education respecting different educational profiles and demographic characteristics.The research covers the sample of 436 students from seven higher education institutions in Banja Luka at their bachelor studies and includes focus groups, survey, descriptive and inferential statistical methods.We have found significant discrepancy between university ICT programs and infrastructure and student needs. For instance, a quite large number of students interested in ICT industry attended some kind of informal education from this domain and at the same time they were unaware that those and similar programs were freely available at their universities. In this paper we have identified those and similar gaps and compared our research results with similar results in other countries.

Research on the Model of Entrepreneurial University and Advanced University Governance: Policy Recommendations for Public Universities in Vietnam

Research on the Model of Entrepreneurial University and Advanced University Governance: Policy Recommendations for Public Universities in Vietnam

ОСОБЕННОСТИ ВЗАИМОДЕЙСТВИЯ ЭЛЕМЕНТОВ ИНФРАСТРУКТУРЫ РОССИЙСКОЙ СИСТЕМЫ ПРЕДПРИНИМАТЕЛЬСТВА

The article is devoted to the study of the interaction of elements of the entrepreneurial infrastructure that has developed in the context of the activation of innovative development as a priority of state policy. The results obtained can serve as a direction for further research of the features of the Russian business system.

Exploring the challenges for entrepreneurship business incubator hubs in the United Arab Emirates

There is a dearth of studies that explore the challenges and experiences among business incubators (BIs), as providers, for their effective performance and operations. An exploratory research design model has been adopted by developing multiple case studies to explore the challenges for BI providers in Dubai (UAE). This study adopts qualitative methods of inquiry through 25 semi-structured interviews with executive members of seven UAE-based BIs. The data were analysed using NVIVO to perform a qualitative thematic analysis (template analysis approach). The findings resulted in the identification of five key thematic areas of challenges, which comprised: 1) financial challenges; 2) market barriers; 3) entrepreneurial infrastructure challenges; 4) socio-cultural barriers; 5) restrictive legislation. The motive-related overlaps between financial challenges and sociocultural barriers were also identified. The results of this research provide initial empirical insights for academics and recommendations for policymakers.

Evaluating the performance of rural areas in improving entrepreneurship infrastructure for the development of rural entrepreneurship in Khalilabad city

Entrepreneurship in order to generate income and employment is one of the most important tools for rural development and the present study has been prepared with the same purpose and as the evaluation of rural performance in improving entrepreneurship infrastructure for rural entrepreneurship development in Khalilabad city. The present research is applied in terms of purpose and in terms of descriptive-analytical method, which used library and field methods to collect information and a researcher-made questionnaire for field data. The sample population was randomly studied using Cochran's formula including 370 people in 23 villages of the city. The results obtained in the villages of the city show that the performance of rural villagers in Khalilabad city in order to develop rural entrepreneurship has been weak. The villages of the city, except for the development of public infrastructure (water, electricity, etc.) in other areas of entrepreneurial infrastructure have not performed well and have not been able to achieve the desired goals.

Determinants of Firm Growth: The Case of Sachet Water Firms in Minna, Nigeria

Purpose: The objective of this study was to analyze the influence of Entrepreneurial Infrastructure (EI) on the profitability of Sachet Water Firms (SWFs) in Minna.
 Design/methodology/approach: This was done through the use of personal interviews for the collection of qualitative data from owners/managers of SWFs. The population of the study included all the 165 SWFs in Minna and the sample size was 10 which was determined by interview saturation point. Thematic analysis was used in analyzing the transcribed audio recordings of the interviews conducted.
 Findings: Findings revealed that there is an EI deficit in Minna, which has led to increased expenses on the provision of alternative EI by SWFs and has increased their operational costs thereby reducing their profitability.
 Research limitations/implications: Firstly, with thirty-six states in Nigeria, the findings of this study, covering the Capital of only one of the States (Niger) cannot be generalized for the entire country, rather it must be taken within the context of the region covered. Secondly, only one industry out of many that make up the Nigerian economy is selected for investigation. Thirdly, the researcher was faced with the negative attitude of some respondents who were not willing to participate in the research or provide the needed data for analysis. Lastly, not all the SWFs in Minna were included in the study, only those that have operated for up to three years were included. Future studies can bridge these research gaps by carrying out research in other parts of Nigeria on the same subject matter.
 Practical implications: Findings of this study would be of help to the existing SMEs in Nigeria, particularly the SWFs in further understanding the complexities of the infrastructural challenges militating against their growth and how to overcome them.
 Originality/value: This study contributes to the body of knowledge on the nexus between EI and the general performance of SMEs.
 Paper type: Research paper.

Improving the management of social and economic development of the country’s territories

The effective management of the socio-economic development of territories is a priority issue in the context of the internal policy of the state.Thus, it remains relevant to study the main aspects of the socio-economic development of the country’s territories, identify the main problems of managing the socio-economic development of territories. The effective management of the socio-economic development of the territory is associated with many difficulties due to its global nature, therefore it should be subject to a large and exhaustive number of regulatory legal acts. To assess the socio-economic development of individual territories of the Russian Federation, a wide range of basic statistical indicators is used, which corresponds, among other things, to the methods of foreign companies. The analysis of the problems of managing the socio-economic development of territories helped formulate both general and particular issues. In the first case, the proposed recommendations for improving the process of managing the socio-economic development of the territory are universal and associated with the development of entrepreneurial infrastructure, small and medium-sized businesses, the investment attractiveness of the region, etc. The private problems of managing the development of territories should be addressed by identifying and developing the competitive advantages of individual territories.

Investigating the Impact of Entrepreneurial Infrastructure Deficit on Firm Growth

Small and medium enterprises (SMEs) in Nigeria are suffering from a deplorable condition of entrepreneurial infrastructure (EI) which is evidenced in the myriad of challenges bedevilling their growth and development. This study therefore aims to investigate the impact of EI deficit on firm growth, focusing on the growth of SMEs in Nigeria. This was done through a critical review of extant literature (peer reviewed journal articles) on EI which were obtained from reputable data bases and broken down into two basic components of infrastructure (physical and non-physical infrastructure). Empirical findings revealed that the availability of physical infrastructure (constant water supply and good road infrastructure) and the non-physical infrastructure (electricity, government policies/programmes, access to financial support services, incubation centers/platforms, business clusters and entrepreneurship training) improves productivity, profitability, sales, number of customers and consistent growth rate of SMEs. Findings of this study would be of help to entrepreneurs, policy makers and the academic community as it will add to the existing literature on how availability of EI impacts the growth of SMEs. The study recommends that government should use fiscal policies to address the economic challenges of SMEs and also invest in the provision of EI facilities to facilitate the growth and development of SMEs in Nigeria.

Trust between the state and business as factor of innovative development of the economy

The article presents the results of a study conducted by the author on the impact of trust between business and the state on the innovative development of the economy. A brief description of the phenomenon under consideration in the Russian Federation is given, and the main problems in the relationships of these entities are shown using specific examples. The crisis of confidence entails significant risks for the business, which in turn leads to a reduction in business activity and the outflow of capital. Overcoming this crisis is not possible with short-term targeted measures, since it is necessary to apply a long-term programmatic approach that combines various measures and mechanisms, as well as the interaction of the parties. The author, including, based on international experience, shows the mechanisms by which it is possible to structure relations between the government and the business community. According to the author, various measures, both general and specific, contribute to the improvement of the investment climate. The author sees the judicial system independent of the state as the main guarantee. Also, the article discusses issues of legislative guarantees of investments, providing for full compensation for damage when changing state policy in relation to specific types of activities; the introduction of public-private partnership models to address socially significant projects that are not of commercial interest to firms in the absence of state support; creation and functioning of entrepreneurial innovation infrastructure for the development of innovative firms through the combined efforts of state authorities and local self-government; improvement of civil society institutions and public discussion of the activities of state institutions and entrepreneurs.