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High-growth firms have recently received considerable attention in the firm growth literature. These firms might have grown despite the existence of growth barriers, and evidence also suggests that, having already grown exponentially, they may not be in the best position to grow further. Policies targeting high-growth firms may therefore be misdirected. We argue that entrepreneurship researchers should concentrate more on firms that are not hiring, despite having high profits. We call these firms “sleeping gazelles,” and demonstrate that they represented almost 10% of all limited liability firms in Sweden from 1997 to 2010. Nearly half of these firms continued to earn high or moderate profits in subsequent three-year periods, while still displaying no growth. Regression analyses indicate that these firms were significantly smaller, older, more likely to be active in industries with high profit uncertainty, and more likely to be located in less densely populated municipalities than were corresponding growing firms.

Creative destruction “revolutionises the economic structure from within”, Joseph Schumpeter famously said, “incessantly destroying the old one, incessantly creating a new one”. Innovation in business – bringing new goods, new markets, new methods of production, new ways of organising firms – is the “fundamental impulse that sets and keeps the capitalist engine in motion” (Schumpeter, 1975, p. 83). Does the economy have enough flexibility? Are there barriers in the way of entrepreneurship? This paper develops a framework for quantifying creative destruction.

Although research on the relationship between culture and female entrepreneurship has developed strong insights, to date limited studies have examined the country-specific factors which may account for variance in women entrepreneurs' behaviour and subsequent outcomes. Therefore, this study attempts to close this gap through taking a closer look at the country-specific cultural factors creating differences in female entrepreneurs' behaviour and business strategies within the context of Turkey and the United Kingdom. In light of previous studies examining the impact of social institutions, this chapter adopts a survey approach to examine whether the networking strategies, growth orientation, perceived impediments, lifestyle choices and business structures of well-established female entrepreneurs vary between these two different cultural environments. In total, 240 females participated in this study with 120 from each country. The macro-cultural environments within the case countries are described through the application of Hofstede's Culture Model.

This chapter explores the relationships between organisational type, rationales and the barriers that prevent community food projects from increasing the scale of their operations. From a broad survey of community food projects, organisations were divided according to their primary rationale (e.g. rural economic development and distribution), and then subdivided – by form – as a non-profit, private business, governmental agency or cooperative. Data from the interviews and surveys were coded using a qualitative grounded theory approach, to reveal the barriers experienced by each. Overall, access to long-term stable income is a recurrent theme across all types of projects. However, income sources dramatically change how these organisations prioritise barriers. Similarly, the organisation’s primary rationale and experiences influence the interpretation and approach to collaboration and education. Despite these differences, our results suggest a large degree of convergence that cuts across organisational forms and rationales, and offer a base for broader regional food system conversations.

This study analyses small-firm responses to an economic crisis, based on an empirical investigation in the post-conflict economy of Kosovo. Although the recent financial crisis affected all economies, we can expect differences in its effects across economies depending on their level of economic development, relative exposure to the crisis, as well as differences in entrepreneurial responses to adapt to the crisis. Kosovo makes a unique case to investigate the impact of the crisis on firm adaptive strategies to overcome or cope with the crisis. Drawing on data from in-depth, multiple case studies show that small firms during the crisis have successfully chosen to diversify and expand into new areas of business in order to compensate for low demand. By contrast, cost reduction was not a successful strategic response. The study demonstrates that although crisis affects many small firms, they show underlying resilience and a high level of adaptability and flexibility.

Despite the expansion of women's entrepreneurial activities and its positive effects on the economic development of societies, women still face numerous difficulties in starting and running a business compared to men, especially in developing countries because of gender discrimination in the field. The cultural context in societies is a significant factor affecting the status of entrepreneurship among the Iranian women. Therefore, the present research is an attempt to identify the challenges affecting entrepreneurship among Iranian women. The results obtained from 30 semi-structured interviews with women entrepreneurs and women with entrepreneurial roles showed that sociocultural challenges faced by women entrepreneurs are classified into: “the society's perception of entrepreneurship among women,” “women's social security,” and “common family norms governing a society.”

The small size of female founded and owned businesses is discussed as a weakness towards business survival and growth and also as a solid foundation for sustainable innovation (SI) through maintaining stronger ties with suppliers and customers. In smaller businesses, the closeness to the key stakeholders facilitates knowledge transfer and internalisation of knowledge which leads to faster decision making and creating SI. This paper aims to examine networking strategies of established female entrepreneurs and to develop better insights into the extent of social dialogue, collaboration and cooperation maintained between the entrepreneur and her network contacts towards SI and value generation. Successful business sustainability strategies and subsequent outcomes of established female entrepreneurs are also examined. This paper presents the findings from quantitative survey-based research conducted with 240 established female entrepreneurs from the UK and Turkey (120 from each). The respondents were selected on the basis of business survival and success. National culture is used to identify the established authoritative guidelines for social behaviour. Hofstede’s Culture Model is applied to the case countries to describe the sociocultural institutional context. From the business sustainability strategies (BSS) perspective, the findings show that the studied elements of established female entrepreneurs vary between two different cultural environments. And yet, the both group reported a high level of social dialogue, collaboration and cooperation with their network contacts although they demonstrated fundamentally different networking patterns within the context of type of contact; networking motivation; frequency of contact; and helpfulness of contact. Also established female entrepreneurs’ business sustainability strategies show significant differences between the case countries linked to the level of power distance, individualism and uncertainty avoidance culture dimensions. The paper generates valuable insights into internationalisation strategies for female entrepreneurs and possible areas for facilitation for policy makers.

Despite the mounting evidence of gazelles’ higher economic contribution, there is no consensus on whether and how to support gazelles. In this chapter, we therefore discuss varied gazelle policy views as well as the inherent challenges of supporting gazelles. Here, we draw on relevant academic literature as well as on international policy examples. Additionally, we analyze Germany’s gazelle policy stance by triangulating information collected from the literature, practical policy examples and interviews, we carried out with German support agencies and policymakers. Though Germany’s general policies and framework conditions create necessary conditions for gazelles to emerge, they are insufficient to guarantee their prevalence. Moreover, Germany’s policy approach of encouraging new firm formation and self-employment and its focus on the financial support for small as well as technology or innovation-oriented firms is not consistent with the state-of-the-art knowledge about gazelles. Using the case of Germany, we argue that general entrepreneurship policies and high-growth entrepreneurship (gazelle) policies are distinct approaches having divergent and sometimes conflicting objectives and support mechanisms, which need to be synchronized to be effective.

Informal entrepreneurship challenges sustainable economic performance and is a barrier to productive entrepreneurship. In this context, the level of development of formal and informal institutions and their impact on informal entrepreneurship is crucial. This chapter examines the informal sector entrepreneurship in Kosovo using institutional theory lenses. Using a survey with 500 owners/managers of private companies, the study finds that the service industry has the highest participation in the informal economy compared to other sectors. On average small firms, compared to larger ones, report a higher percentage of unreported incomes. Our findings also suggest that when informal entrepreneurs perceive penalties for tax avoidance from tax authorities as high, they tend to have higher compliance with reporting their income. In addition, our findings indicate that the higher the vertical (trust in formal institutions) and horizontal distrust (trust in business partners), the higher the involvement in the informal economy. The chapter concludes with some policy implications for tackling the informal economy in Kosovo and similar institutional contexts.