Entrepreneurial Experience Research Articles

The Unobserved Returns to Entrepreneurship

Abstract This paper presents an alternative perspective to a longstanding empirical puzzle: that most entrepreneurs persevere despite persistently low earnings. Because entrepreneurial earnings are notoriously difficult to measure, I approach the question from an expenditure angle. I look at how switching into self-employment corresponds to changes in reported earnings versus expenditure. Using 45 years of longitudinal data, I find that individuals report earning 27.7% less in self-employment, while spending 3.8% more. This household expenditure premium accrues with entrepreneurial experience and is not offset by lower savings or longer work hours. The results hold in highly educated and incorporated business owner subsamples.

Analysis of Marketing Communication Implementation to Increase Visitors

Kampus Merdeka provides students with opportunities to learn entrepreneurial skills. As part of its implementation, a bazaar is established as a platform for students to gain practical entrepreneurial experience. To optimize this practice, the committee must attract visitors to the bazaar through promotional activities. This research aims to analyze the implementation of promotional activities conducted by the committee using marketing communication strategies. The method employed is qualitative research with a descriptive approach, utilizing primary data sources. The findings reveal that marketing communication strategies executed through advertising, sales promotion,direct selling, and events have been carried out adequately but not optimally, and marketing through personal selling channels has not been utilized, resulting in the failure to reach the targeted number of visitors. It is recommended that promotional activities be intensified with a wider reach, and close collaboration between the committee and participants of the Wirausaha Merdeka program is essential for promoting the bazaar effectively.

Framing a feminist phenomenological inquiry into the lived experiences of women entrepreneurs

PurposeThis article aims to explore the potential of feminist phenomenology as a conceptual framework for advancing women’s entrepreneurship research and the suitability of interpretative phenomenological analysis (IPA) to the proposed framework.Design/methodology/approachThe article critically examines the current state of women’s entrepreneurship research regarding the institutional context and highlights the benefits of a shift towards feminist phenomenology.FindingsThe prevailing disembodied and gender-neutral portrayal of entrepreneurship has resulted in an equivocal understanding of women’s entrepreneurship and perpetuated a male-biased discourse within research and practice. By adopting a feminist phenomenological approach, this article argues for the importance of considering the ontological dimensions of lived experiences of situatedness, intersubjectivity, intentionality and temporality in analysing women entrepreneurs’ agency within gendered institutional contexts. It also demonstrates that feminist phenomenology could broaden the current scope of IPA regarding the embodied dimension of language.Research limitations/implicationsThe adoption of feminist phenomenology and IPA presents new avenues for research that go beyond the traditional cognitive approach in entrepreneurship, contributing to theory and practice. The proposed conceptual framework also has some limitations that provide opportunities for future research, such as a phenomenological intersectional approach and arts-based methods.Originality/valueThe article contributes to a new research agenda in women’s entrepreneurship research by offering a feminist phenomenological framework that focuses on the embodied dimension of entrepreneurship through the integration of IPA and conceptual metaphor theory (CMT).

Entrepreneurial finance in Europe and the Russian war against Ukraine

AbstractPrior research has investigated how the prices of stocks and commodities as well as inflation levels have been affected by the Russian war against Ukraine. So far, however, we know little about the impacts of the war on the entrepreneurial finance sector. Prior research on the effects of unexpected exogenous crisis events on entrepreneurial finance suggests a strong negative impact on new and follow-on funding for entrepreneurial ventures. Our study regards the Russian war against Ukraine as an unexpected exogenous crisis event and explores its impact on the entrepreneurial finance sector. It goes beyond a mere sentiment and impact analysis and also explores the underlying reasons and mechanisms as well as potential response and coping strategies employed by entrepreneurial finance investors. Based on two surveys of European venture capital (VC) and private equity (PE) investors, we find that the war had a strong negative impact on the two types of investors and their respective funds. Both VC and PE investors report more risk-aversion of limited partners (LPs) and LPs leaving the market as important challenges resulting in an overall lower willingness of LPs to invest. This applies in particular to banks, insurance funds, and pension funds. On the portfolio firm level, securing equity financing and maintaining liquidity were considered pressing issues. Overall, the situation seems to be more difficult for portfolio companies of VC as compared to PE investors. For the former, the financing- and liquidity-related issues seem to be more existential and survival-threatening. Responding to these challenges, both VC and PE investors altered their industry focus and put more emphasis on entrepreneurial experience. Financial investment selection criteria such as financial valuation, profitability, and cash- as well as revenue-generating capacity also increased in importance. Again, differences between VC and PE investors exist. Our study has implications for entrepreneurial finance theory and practice and concludes with an agenda for research on the impacts of the Russian war against Ukraine on entrepreneurial finance.

Relationships between well-being, resilience, leadership, and perceived success in SME owners-managers of Ecuador

This paper aims to provide a comprehensive understanding of entrepreneurial success among owners and managers of Ecuadorian SMEs through the relationship between variables such as business efficiency, psychological resilience and perceived entrepreneurial leadership. We surveyed 385 SME owners and managers in Ecuador and employed hierarchical linear modeling to analyze the data. The findings of this article suggest that entrepreneurial well-being, psychological resilience, and entrepreneurial leadership perceived by owners and managers of Ecuadorian SMEs are positively correlated with entrepreneurial success. There may be a tendency to associate success with economic performance. The practical implications of this study are that owner-managers of SMEs can use the developed measurement scale to evaluate their success and identify areas where they may need support or improvement and develop strategies to foster the best possible business experience. The study also provides insights into factors affecting entrepreneurial success and highlights the importance of promoting a positive entrepreneurial experience. In addition, the study contributes to literature by identifying some limitations and identifying areas for future research.

The Impact of Curbing Housing Speculation on Household Entrepreneurship in China

We document a speculation channel and complement the well-documented collateral channels by offering novel evidence about the effect of curbing housing speculation policies We estimate the positive effect of discouraging housing speculation on household entrepreneurship in China. By exploiting the city-level variations in the stringency of home purchase restrictions between 2011 and 2019 and five waves of China Household Finance Survey (CHFS) data, we find that discouraging housing speculation significantly increases the likelihood of local households starting a business. To address endogeneity concerns, we exploit plausibly exogenous variation using IV estimations and DID research design. The positive effect is stronger for local multiple-home owners, homeowners without mortgage debt, households with previous entrepreneurial experience, households of risk-loving, and households with large assets. This conclusion is robust with city-level evidence. In the mechanism discussion, we find that discouraging housing speculation significantly reduces the likelihood and the plans of local households to purchase new homes and lowers the house price expectations of local households (thus the opportunity cost of starting a business). We also provide evidence supporting the view that discouraging housing speculation increases entrepreneurial opportunities, innovative development, and local households’ social network investments, all of which contribute to starting a business. The results imply that policies to curb housing speculation can lead to beneficial spillover on entrepreneurship and the local economy, as well as contribute to the sustainability of economic growth.

The forgetting curve in entrepreneurship: decaying learning benefits of past entrepreneurial experience

The forgetting curve in entrepreneurship: decaying learning benefits of past entrepreneurial experience

How does the prior experience of complementary entrepreneurs affect the perception of multisided platform affordance? Evidences from China

ABSTRACT Evidences from cognitive science and neuroscience suggest that affordance needs to be understood by combining epistemology. However, existing studies have not agreed on whether prior experience affects the perception of affordance, and the specific path remains a black box. Using samples from China, this paper investigates the influence mechanism of complementary entrepreneurs’ prior experience on the perception of multisided platform affordance. The results indicate that the prior experience promotes the perception of multisided platform affordance, and entrepreneurial alertness plays a partial mediating role. Platform leadership and role conflict negatively moderate the relationship between entrepreneurial alertness and multisided platform affordance.

Business in the backwaters: how ‘distance from the core’ impacts entrepreneurs’ lived experiences

ABSTRACT Using a phenomenological approach, we analyse the voices of entrepreneurs living in the peripheral ecosystems of Newcastle Upon Tyne (UK), Palermo (Italy) and Perth (Australia). These ecosystems are defined by the considerable physical distance between their geographical location and the location of a larger, more established ‘core’ ecosystem in their nation. The purpose of our paper is to examine how distance from the core is perceived to both enable and constrain entrepreneurship in peripheral contexts. We introduce ‘distance from the core’ as a significant hitherto unexplored theme to consider when exploring the lived experiences of entrepreneurs in peripheral contexts. Empirically, we present data that affirms and expands extant findings revealing how entrepreneurs rooted in peripheral contexts react to the structural conditions around them. Methodologically, we demonstrate the value of phenomenological research in revealing the subjective ways entrepreneurial agency, structure and distance intersect. We highlight that policymakers must take the voices of entrepreneurs in a peripheral ecosystem into account when designing and implementing enterprise policies that aim to develop entrepreneurship in peripheral contexts.

Everyday prejudices: an intersectional exploration of the experiences of lesbian and gay entrepreneurs

PurposeThere is a gap in understanding with regards to the discrimination and prejudice experienced by gay entrepreneurs. To address this, an intersectional perspective is adopted to facilitate a better understanding of how lesbian and gay entrepreneurs may experience heterosexism.Design/methodology/approachThis qualitative study uses semi-structured interviews to explore the experiences of 14 lesbian and gay entrepreneurs as they navigate homophobia and heterosexism.FindingsThe study contributes novel insights to the field of entrepreneurship, extending the study of lesbian and gay entrepreneurs to include gender and a fine-grained analysis of the experience of heterosexism. Its inclusion of an intersectional perspective of the lesbian-female entrepreneur expands the emerging body of literature examining intersectional identities of minority entrepreneurs.Originality/valueThe authors provide a more nuanced understanding of the impact of heterosexism on LGBT+ entrepreneurial activities. This is facilitated by the authors' adoption of an intersectional perspective which shows how the different axes of identity influenced gender identity performance in relation to the model of perceived neutrality in LGBT+ entrepreneurship. The authors also make an original contribution to minority stress literature through the authors' exploration of one facet of minority entrepreneurship, namely the impact of heterosexism on LGBT+ entrepreneurial activities.

Transgender Entrepreneurship: Challenges, Opportunities, And Impact on Developing Country Like India.

Transgender people, or those whose gender identity differs from the gender assigned to them at birth, have historically experienced considerable gender bias and obstacles in many aspects of life. Entrepreneurship, a field characterized by human freedom and self-creation, presents transgender persons with both distinct problems and opportunities. This article sinks into the experiences of transgender entrepreneurs, investigating at how concerns of identity, discrimination, and societal standards affect their entrepreneurial path. This study offers light on the resilience and innovation of transgender entrepreneurs who navigate complicated personal and professional terrains using qualitative interviews, statistical data, and case studies. While transgender entrepreneurs face numerous challenges, from access to financing to acceptance in business networks, the findings imply that they also use their unique identities and experiences to drive creativity. Community-building and social change. Implications for policy, practice, and further research are discussed, emphasizing the need for more inclusive and supportive ecosystems that recognize the potential of all entrepreneurs, irrespective of their gender identity. The findings suggest that while transgender entrepreneurs frequently encounter barriers, from access to capital to acceptance in business networks, they also leverage their unique identities and experiences to foster innovation, community-building, and social change. Implications for policy, practice, and further research are discussed, emphasizing the need for more inclusive and supportive ecosystems that recognize the potential of all entrepreneurs, irrespective of their gender identity.
 The findings suggest that while transgender entrepreneurs frequently encounter barriers, from access to capital to acceptance in business networks, they also leverage their unique identities and experiences to foster innovation, community-building, and social change. Implications for policy, practice, and further research are discussed, emphasizing the need for more inclusive and supportive ecosystems that recognize the potential of all entrepreneurs, irrespective of their gender identity.

Migrant entrepreneurship support in Europe: a PRISMA systematic literature review

Background This systematic literature review (SLR) analyzes migrant entrepreneurship support in Europe through three research questions (RQs) to understand 1) migrant entrepreneur characteristics in the European context, 2) challenges encountered by migrant entrepreneurs in European host countries, and 3) policies supporting migrant entrepreneurship in Europe. This review addresses gaps in current knowledge in academia as well as issues that policymakers and practitioners face when addressing migrant entrepreneurship support. Methods This SLR employed a search protocol to retrieve published sources from 1970 to 2021, via Scopus (27 March 2022) and Web of Science (7 April 2022). Inclusion criteria targeted migrant entrepreneurship support studies while exclusion criteria eliminated domestic migration and non-European contexts. The authors worked iteratively, aligning the data with the RQs to reduce bias, and adapted Bourdieu's forms of capital to create an analytical framework for the sources included in the SLR, with a table for each RQ to synthesize relevant data for analysis. Results The review examined 91 peer-reviewed papers, with a focus on migrant entrepreneurship support in Europe, covering characteristics, challenges, and support policies. It classified migrant entrepreneur challenges and characteristics into financial, human, and social capital, as well as external factors. Common challenges include the local culture and language, network, funding, and adapting to local business practices. Migrant entrepreneurs' stability relates to time in the host country and local language proficiency and reflects past entrepreneurial experience and education. Supportive mechanisms involve local networks, financing, and mentoring. Conclusions The SLR's limitations encompass possible oversight of pertinent studies, along with potential bias in data extraction, analysis, and subjectivity due to thematic analysis. Nonetheless, the findings suggest the following research agenda for migrant entrepreneurship support: evaluating and enhancing human and social capital, sharing information, designing support programs, addressing in-group/out-group bias in support programs, and exploring bottom-up migrant entrepreneurship support approaches.

Work Experience of Private Entrepreneurs in SOEs and Enterprise Innovation Investment: Evidence from China

ABSTRACT Private enterprises are important due to their innovation-driven development strategies. There are many private entrepreneurs in China who have experience working in state-owned enterprises (SOEs), and how entrepreneurs’ SOE work experience affects enterprise innovation investment has not yet been sufficiently studied. Based on imprinting theory and using data from a survey of private enterprises in China, our study confirms that private entrepreneurs’ SOE work experience promotes enterprise innovation investment. Mechanism tests suggest that political connections and policy perceptions are mediating mechanisms. Entrepreneurs’ educational background reinforces the mediating roles. This paper enriches the research on imprinting theory and enterprise innovation.

Ethnic Entrepreneurship: A Qualitative Study on Entrepreneurial Tendency of Meskhetian Turks Living in the USA in the Context of the Interactive Model

Abstract Ethnic entrepreneurship is the phenomenon that individuals from certain ethnic backgrounds participate in entrepreneurial activities. Individuals from those ethnic backgrounds are affected by various factors such as entrepreneurial tendencies, cultural values, social networks, and economic opportunities. Although such factors have the potential to explain ethnic entrepreneurship, it is important to continually update research and definitions in this field as ethnic entrepreneurship is an ever-growing topic. The purpose of this article is to be a part of the studies on ethnic entrepreneurship and to contribute to the field by identifying the conditions that influence the entrepreneurial process of Meskhetian Turks, who immigrated to the USA under special laws and became successful in establishing their own businesses. In order to achieve this purpose, in-depth interviews were conducted with entrepreneurs, and the findings are discussed in the context of the interactional model. According to the findings, social, capital, and ethnic networks play a significant role in business establishment and development, knowledge acquisition for business, and labor supply. In addition, due to the differences in the migration experiences of entrepreneurs, it is seen that both ethnic and non-ethnic networks affect entrepreneurship in the dimension of resource mobility. This study confirms the need to evaluate the benefits of ethnic entrepreneurship as a dynamic field.

Inovasi Olahan Onde Wa’ai Varian Rasa Kekinian Dalam Meningkatkan Kreativitas Mahasiswa Dalam Berwirausaha

The entrepreneurial student creativity program (PKM-K) is a student creativity program for creating business activities; through the PKM-K program, students have a sample opportunity to realize creative ideas for products (goods and services), innovate to create new products and increase competence, insight, and experience in entrepreneurship. It is hoped that pk-k can be the forerunner to the emergence of business products in Indonesia as the nation’s independent work. It is hoped that creative product ideas from the nation’s young generation can be realized well so they can have a good influence on other young people. One student’s creative idea was OWADE (modern processed Onde Wa’ai), a contemporary snack based on local Pangan with chocolate, cheese, brown sugar, and fish floss flavors. To find out the effectiveness of innovation in current flavor variants in increasing students’ interest in onde snacks, a Wade product survey was conducted on students by taking a sample of 100 students and ten lecturers at the Flores University of Mathematics education study program. The result of this research was that 85% of students said they liked Owade products and would buy this product again. Looking at the survey results, the effectiveness of the current flavor variants in on-de snacks is quite large. In this way, the existence of Onde snacks will increase again and not be lost due to the flow of modernization.

Marketing agility in underdog entrepreneurship: A qualitative assessment in post-conflict Sub-Saharan African context

Extant entrepreneurship literature lacks specific research on how underdog entrepreneurs survive and strive in post-conflict environments. This study seeks to explore the role of marketing agility as an essential capability to survive and exploit business opportunities in post-conflict Sub-Saharan Africa, where institutional voids and volatility coexist. The empirical research design comprises of multiple case studies of sixteen underdog (war-affected) entrepreneurs in Liberia and Sierra Leon; both countries which went through civil war and violent internal strife in recent past. The study findings reveal that marketing agility and its dimensions, i.e., robustness, responsiveness, and proactiveness, are critical for underdog entrepreneur’s business’s survival. Finally, the findings also show that institutional context, volatility, and individual experiences of entrepreneurs tend to influence the manifestation of this marketing agility.

EVALUATING THE EFFICACY OF TECHNOLOGY INCUBATION CENTRES IN FOSTERING ENTREPRENEURSHIP: CASE STUDIES FROM THE GLOBAL SOUT

This study conducts a comprehensive evaluation of the effectiveness of Technology Incubation Centres (TICs) in nurturing entrepreneurship, focusing on case studies from diverse regions of the Global South. With the growing emphasis on innovation and technology-driven economic development, TICs have emerged as vital entities in fostering entrepreneurial ecosystems. The research employs a mixed-methods approach, combining quantitative analysis and qualitative case studies. The quantitative aspect involves assessing key performance indicators, including startup success rates, job creation, and financial sustainability of TICs. Qualitative investigations delve into the nuanced experiences of entrepreneurs, exploring the support mechanisms provided by TICs, challenges faced, and the overall impact on their ventures. The case studies span various contexts within the Global South, encompassing regions with differing economic, social, and cultural landscapes. By examining TICs in diverse settings, the study aims to draw insights into the contextual factors influencing the efficacy of incubation programs and their relevance in different entrepreneurial ecosystems. Preliminary findings suggest a correlation between the success of TICs and factors such as effective mentorship, access to funding, and collaborative networks. However, challenges such as resource constraints, regulatory hurdles, and variations in local market dynamics pose significant barriers to the optimal functioning of TICs. The study contributes to the existing literature by offering a nuanced understanding of the role and impact of TICs in the Global South. Findings will inform policymakers, entrepreneurs, and stakeholders about the specific contextual considerations that influence the efficacy of TICs, ultimately aiding in the refinement of strategies to enhance entrepreneurship and innovation in emerging economies. As the Global South increasingly positions itself as a hub for technological innovation, this research provides timely insights into the evolving landscape of entrepreneurial support structures, offering practical implications for the future development of TICs and fostering a conducive environment for sustained entrepreneurial growth.
 Keywords: Technology Incubation Centres, Entrepreneurship, Global South, Case Studies, Innovation, Economic Development.

Bridging Disconnections: Narratives of Collective Social Entrepreneurs on the Energy Poverty Network

The roadmap to a just energy transition faces the challenge of including vulnerable households. The networked nature of energy poverty invites responses from different actors, among them the social entrepreneur. The growing phenomenon of social entrepreneurship holds promise in responding to energy vulnerability due to its collective and hybrid nature, enabling active engagement in addressing this multi-actor problem. This study aims to contribute to the ongoing conversation on collective social entrepreneurship. Specifically, it delves into the experiences of social entrepreneurs who tackle energy poverty from a networked perspective. By analysing narratives from social entrepreneurs addressing energy poverty in Europe, we examine their perceptions of the network and their role in it. We find that the narrative of social entrepreneurship varies depending on the priority given to social aspects, which has implications for the approach towards the network. Framed by the theoretical lens of the multi-actor network, our findings extend the knowledge of the composition and relationships in the network, an approach scarcely addressed in the social entrepreneurship literature. By shedding light on bridging narratives, our findings provide evidence of the potential coordinating role social entrepreneurship can play in fragmented networks addressing grand challenges through its hybrid dimension.

Entrepreneurial experience and venture success: A comprehensive meta-analysis of performance determinants

PURPOSE: In both theory and practice, the entrepreneur’s prior experience is considered to be one of the most important human capital factors affecting venture performance. Nonetheless, the research on the effect of experience on venture performance has produced inconclusive findings. The literature explaining this inconclusiveness is sparse, but several determinants have been identified, such as the variability in the conceptualization and measurement of experience and performance, age of the investigated ventures, types of industry, or size and composition of venture management. The inconsistency of these features across primary studies makes it difficult to compare the results and to integrate findings. METHODOLOGY: This meta-analysis reviews and summarizes 80 primary studies in order to investigate the relationship between entrepreneur’s experience and venture performance. We investigated the effect of five determinants of this relationship, namely the type of experience, type of performance, venture age, size of managerial team, and composition of managerial team. A random effect model was applied and the correlation coefficient was used as an indicator of effect size. FINDINGS: The study found that experience positively affected venture performance, although the magnitude of the effect was rather small. Venture performance showed to have the strongest significant relationship with start-up experience, followed by industrial, working, and managerial experience. International, functional, and entrepreneurial experience had a non-significant effect on venture performance. Moreover, the effect of experience on venture performance was not significant for older ventures. Experience significantly affected two types of venture performance, namely the size of venture and profitability, while the effect on growth was non-significant. Finally, of all the types of venture management, the experience of owner-inclusive entrepreneurial teams had the greatest effect on venture performance. IMPLICATIONS: Investor practitioners may find it helpful to assess entrepreneurs’ experience within a broader context, taking account of the types of experience the entrepreneur possesses. Entrepreneurs’ international, functional, and entrepreneurial experience should be considered very carefully, as they had a non-significant effect on venture performance. In contrast, having experience of founding a venture or of a particular industry seems to provide more value than experience of doing business internationally, or being in business for many years. Another important aspect that investors and venture capitalists should take into account is the size and composition of the entrepreneurial team and the extent to which the venture proposal reflects the different types of experience the team members possess. ORIGINALITY AND VALUE: The study contributes to the human capital literature by firstly attempting to examine systematically the overall magnitude of the relationship between entrepreneur’s experience and venture performance. It also contributes by investigating the determinants of the relationship between experience and venture performance. It summarizes and combines previous inconclusive findings about the impact of different types of experience on different venture performance outcomes.

Experiências de Mulheres Empreendedoras nas Maldivas: Do Conceito à Implementação e Além

ABSTRACT Objective: the number of women-owned SMEs in the Maldives has increased as a result of the recent popularity of e-commerce and the Covid-19 pandemic. Thus, the purpose of this study was to describe the entrepreneurial experiences of female entrepreneurs in the Maldives in order to gain an understanding of the various stages of entrepreneurial process. Theoretical approach: the conceptual framework of this research was based theoretically on values derived from entrepreneurial theories and the components and features derived from the existing entrepreneurial process models. Method: this study employed a qualitative methodology, with semi-structured interviews conducted with five established female entrepreneurs. Purposive sampling technique was used to select participants. The data collected were analyzed using thematic analysis method. Results: the study’s findings revealed that the conception of the entrepreneurial idea, the first stage of the entrepreneurial process, was primarily inspired by the entrepreneur’s passion and hobby. In the second stage, it was discovered that no proper business planning had been completed, and the business was initially self-financed. In the third stage, it was discovered that the majority of entrepreneurs launched their businesses through social media and managed day-to-day operations as a small team. When it came to fourth stage, most of female entrepreneurs preferred both image and financial growth, with the majority of them relying on government funds for further business growth. Conclusion: this research will assist policymakers to gain insight into female entrepreneurs’ entrepreneurial experiences and, as a result, in developing effective policies and programs to help them expand their business.