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Book part

Akilu Aliyu Shinkafi and Nor Aini Ali

PurposeEntrepreneurship development has become a goal of many countries to achieve economic development. Islamic economics is concerned with marketing, trading…

Abstract

PurposeEntrepreneurship development has become a goal of many countries to achieve economic development. Islamic economics is concerned with marketing, trading, business and entrepreneurship activities. This chapter examines the role of entrepreneurship development in Islamic economics.

Methodology/approach – This chapter is purely theoretical in nature. Thus, the Glorious Qur’an, Hadith and other related documents are its major sources.

Findings – The discussion reveals that entrepreneurship development has the potential to promote economic growth and development, employment, self-reliance and national growth. The discussion identifies a lack of capital and financial support as a principal obstacle to the development of entrepreneurship and entrepreneurs. This chapter further reveals that the success of entrepreneurship development and other commercial activities requires organisation in terms of coordination, networking and sharing of resources, as well as cooperation between government, public sector, private sector and enterprise.

Originality/value –The chapter is original in its form and arrangement having emerged as a novel attempt and the first of its kind. The chapter has a pearl of value to the Islamic economists, entrepreneurs, academic circle, and all those who may consider it relevant for application in their desirable business and cherish the value of its standing.

Details

New Developments in Islamic Economics
Type: Book
ISBN: 978-1-78756-283-7

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Article

Nahla G.A. Arabi and Abdelgadir M.A. Abdalla

The components of the ecosystems differ from one ecosystem to another. The purpose of this paper is to identify the components of entrepreneurial ecosystem and investigate…

Abstract

Purpose

The components of the ecosystems differ from one ecosystem to another. The purpose of this paper is to identify the components of entrepreneurial ecosystem and investigate its role in entrepreneurship development in the Sudanese manufacturing sector.

Design/methodology/approach

The current study is explanatory in nature and designed to be cross-sectional, using a quantitative approach. Questionnaires were used to collect data from a stratified sample, ten industrial subsectors drawn from the total population of the study. It includes 106 manufacturing firms, all located in Khartoum State. Data are analyzed with help of exploratory factor analysis and multiple regression model. .

Findings

Among the major findings is that the relationship between the entrepreneurial ecosystem and entrepreneurship development was found to be significant in six factors, namely: finance, government policy, human capital, infrastructure, research and development and innovation and regulatory framework, whereas it was insignificant in three factors, namely; culture, market and support services. These former factors explain 65.8% of the variation in entrepreneurship development.

Research limitations/implications

The cross-sectional nature of the study entails that its conclusions be limited to relevant parties.

Practical implications

In conclusion, a broad process to develop entrepreneurship ecosystem initiatives is proposed alongside the crucial roles that governments and other stakeholders should play.

Originality/value

This paper provides the most influential factors in the entrepreneurial ecosystem in Sudan. The study will be among the first studies that focuses on evaluating the existing entrepreneurial ecosystem in Sudan, given that relatively little systematic efforts have been devoted to examine the relationship between ecosystem and entrepreneurship development in Sudan.

Details

World Journal of Entrepreneurship, Management and Sustainable Development, vol. 16 no. 4
Type: Research Article
ISSN: 2042-5961

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Article

Felix Moses Edoho

The purpose of this paper is to examine the impact of public policies on engendering entrepreneurship and micro, small, and medium enterprises (MSME) development in…

Abstract

Purpose

The purpose of this paper is to examine the impact of public policies on engendering entrepreneurship and micro, small, and medium enterprises (MSME) development in Nigeria. Gaps in policies and factors that impede entrepreneurship and MSME development are identified and proposals are offered to address the impediments.

Design/methodology/approach

A thorough review of the mainstream literature on entrepreneurship and MSME development is undertaken. This constitutes the reference point for identifying and reviewing specific public policies formulated and programs designed to stimulate entrepreneurial activities and facilitate MSME development. Data were obtained from federal government agencies. This paper contends that for public policies to accomplish their designed objectives of engendering entrepreneurship and MSME development, strategic realignments of various policy dimensions and programs are imperative.

Findings

Misalignments occur when existing public policies in other domains are in conflict with policies to promote entrepreneurship and MSME development. Policy misalignments negate the profit motive of entrepreneurship; stifle business innovation and expansion; and contribute to survivalist mode of entrepreneurship in the country. This thwarts the public policy goals of creating jobs and alleviating poverty.

Practical implications

Government needs to streamline current regulatory requirements and revamp tax policies to encourage entrepreneurs and MSMEs. Improvements in infrastructure (road networks, highways, power supply, and telecommunications) will significantly reduce overhead costs for entrepreneurs and help MSMEs to grow.

Originality/value

The paper demonstrates that without strategic realignments of public policies to ensure consistency and coherency in various dimensions, efforts to promote entrepreneurship and MSME development will not yield positive results. Existing public policies and programs need to be brought into tight realignment with policies and regulations in other domains to galvanize entrepreneurial efforts.

Details

African Journal of Economic and Management Studies, vol. 6 no. 2
Type: Research Article
ISSN: 2040-0705

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Article

Hans Landström

A great deal of policy thinking in the last ten to 15 years has been driven by the insights gained from the so‐called “new growth theory”. The theory emphasizes that…

Abstract

Purpose

A great deal of policy thinking in the last ten to 15 years has been driven by the insights gained from the so‐called “new growth theory”. The theory emphasizes that investments in knowledge and human capital generate economic growth through spillover of knowledge, and the policy implication is that investments in knowledge and human capital are the best way to stimulate growth. However, there is a couple of missing links in the “spillover argument” in that the theory seems to disregard the role of the entrepreneur. The paper aims to answer the question: Why haven't entrepreneurship researchers become a strong voice regarding the understanding of the development of the knowledge economy?

Design/methodology/approach

The author argues that a dynamic and innovative research field is characterized by a balance between the pursuit of new issues and knowledge in research, for example, by being sensitive for changes in society, and the development of existing knowledge, by integrating and validating the knowledge base already existing within the field.

Findings

The paper shows that one important reason for the lack of visibility of entrepreneurship research can be found in an internal scientific development of the research field – entrepreneurship research has become more and more theory‐driven and shows less sensitivity and openness for changes in society.

Originality/value

The article gives a critical reflection on the development of entrepreneurship as a research field. In this sense the article provides an increased understanding of the knowledge that is within the field, and gives also suggestions for the future development of the research field.

Details

Journal of Intellectual Capital, vol. 9 no. 2
Type: Research Article
ISSN: 1469-1930

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Article

Lori Dickes, Elizabeth Crouch and Thomas C. Walker

Entrepreneurship is argued to be a critical driver of economic growth for both individual communities and the nation. Regional scientists, economists, and policy makers…

Abstract

Purpose

Entrepreneurship is argued to be a critical driver of economic growth for both individual communities and the nation. Regional scientists, economists, and policy makers underscore the importance of a diverse economy that supports recruitment of new firms, existing firms, and entrepreneurship efforts. However, there remains evidence that many states and localities prefer traditional industrial recruitment efforts and that local and state entrepreneurial efforts may be less coordinated. The paper aims to discuss these issues.

Design/methodology/approach

This research explores the commitment and priorities of local and regional developers to entrepreneurial policy and other economic development policy efforts. This study uses a statewide survey to local economic developers and logistic regression to determine the likelihood of local entrepreneurial program efforts across South Carolina.

Findings

The model results reveal that the probability of local or regional entrepreneurial development programming is complex and dependent on the type of organization involved in economic development along with other community and state characteristics. However, results further confirm that barriers to entrepreneurship, like access to seed capital, and the influence of perceived alternative policies affect local and regional support of entrepreneurship.

Originality/value

The policy priorities of local economic developers appear to play a significant role in the probability of having local entrepreneurship policy and programs. This confirms that the signals local policymakers receive from the state may impact the programming choices and policy emphasis at the local and regional level. In conclusion, if states want entrepreneurial efforts to be a critical driver of economic growth and development, there must be a coordinated and focused state driver supporting these efforts.

Details

Journal of Entrepreneurship and Public Policy, vol. 6 no. 2
Type: Research Article
ISSN: 2045-2101

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Article

Jay Mitra, Y.A. Abubakar and M. Sagagi

Tackling structural and emergent problems in the labour market, valorising skilled human capital (HC) for opportunity creation, economic development and growth, are some…

Abstract

Purpose

Tackling structural and emergent problems in the labour market, valorising skilled human capital (HC) for opportunity creation, economic development and growth, are some of the key drivers for graduate entrepreneurship. This paper aims to examine developments in Africa, focusing on the significance of improving human capital through graduate entrepreneurship to meet the Millennium Development Goals (MDGs) in Nigeria.

Design/methodology/approach

Based on a unique Education Partnerships in Africa (EPA) project the paper adopts a conceptual and exploratory approach to understand the institutional, cultural and economic dimensions of change and the specific role of graduate entrepreneurship education and training in enabling productive outcomes, using an illustrative case study of the project to develop the arguments.

Findings

Knowledge creation lies at the heart of entrepreneurship development in developing economies such as Nigeria. Knowledge creation (KC) for entrepreneurship (E) is based on human capital (HC) development. In circumstances of uneven growth in developing economies HC development is the only constant. Harnessing HC for entrepreneurship can be based on three sets of propositions derived from an examination of the relationship between KC, HC and E, which locate graduate entrepreneurship's role within a holistic, institutional framework.

Originality/value

The paper's originality lies in the development of a model for promoting and evaluating a holistic approach to graduate entrepreneurship in developing countries based on the targeting of MDGs. It offers new insights into the role of graduate entrepreneurship in economic and social development.

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Article

Hasan Ghura, Xiaoqing Li and Arezou Harraf

The purpose of this paper is to develop a conceptual framework that illustrates how resource-based countries, such as those in the Gulf Cooperation Council, can move their…

Abstract

Purpose

The purpose of this paper is to develop a conceptual framework that illustrates how resource-based countries, such as those in the Gulf Cooperation Council, can move their economies towards a more sustainable diversified model, through creating and fostering institutions that are conducive for opportunity entrepreneurship.

Design/methodology/approach

Several key variables pertaining to formal and informal institutions which impact opportunity entrepreneurship are presented in a conceptual framework based on a comprehensive, non-systematic literature review.

Findings

Findings from the comprehensive literature review suggest that institutions play a moderating role between opportunity entrepreneurship and economic development. Institutions can stimulate entrepreneur’s behaviour leading to economic growth and subsequently development. Proposals worth pursuing in empirical studies in the future are presented based on the review of the literature.

Practical implications

This framework offers a model for oil-based countries in resolving structural problems in fostering entrepreneurship when responding to economic challenges.

Originality/value

The proposed framework in this study takes into consideration a comprehensive set of formal and informal institutional factors, rarely discussed in the existing literature, that link opportunity entrepreneurship and economic growth and development. Insights offered by this study have implications for government policy changes in developing effective institutions.

Details

World Journal of Entrepreneurship, Management and Sustainable Development, vol. 13 no. 4
Type: Research Article
ISSN: 2042-5961

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Article

Ikedinachi K. Ogamba

The purpose of this paper is to contribute to knowledge and theory building in youth empowerment and entrepreneurship development.

Abstract

Purpose

The purpose of this paper is to contribute to knowledge and theory building in youth empowerment and entrepreneurship development.

Design/methodology/approach

This paper critically examines the Youth Enterprise with Innovation in Nigeria (YouWiN) programme and its relevance as a youth economic empowerment programme through the lens of the UNDP Youth Strategy entry points for promoting economic empowerment of youth and extant literature on critical youth empowerment using participatory development theories.

Findings

While YouWiN is a significant intervention towards entrepreneurship development, it presents some flaws and limitations in the design and implementation process, which may challenge sustainable economic development. Hence, there is a need to explore the millennials empowerment paradigm in light of three key complementary action-oriented approaches to youth entrepreneurship development.

Originality/value

This paper proposes three key complementary action-oriented approaches to youth entrepreneurship policy/programme design, implementation and evaluation for the multilateral agencies, private and voluntary sectors. These are in the form of facilitating participatory engagement and diversity, managing drivers (push/pull factors) of entrepreneurship, and ensuring access to enablers/support. There is the need for further debate and critical inputs to improve theory building towards a normative framework in youth empowerment and entrepreneurship. This contributes to ending poverty, and promoting intergenerational equity and sustainable development.

Details

World Journal of Entrepreneurship, Management and Sustainable Development, vol. 15 no. 3
Type: Research Article
ISSN: 2042-5961

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Article

Olu Fadahunsi

The article presents an overview of discussions, particularlyconcerning developing countries in the Common‐wealth, of the role ofsmall enterprises as a viable means of…

Abstract

The article presents an overview of discussions, particularly concerning developing countries in the Common‐wealth, of the role of small enterprises as a viable means of promoting self‐reliance in economic development and diversity. Encouragement of the entrepreneurial spirit and skills is vital in this context. These are examined in detail and Commonwealth experiences are summarised with special emphasis on attitudes to entrepreneurs, women as entrepreneurs and the importance of training by experienced professionals.

Details

International Journal of Public Sector Management, vol. 4 no. 1
Type: Research Article
ISSN: 0951-3558

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Article

Jung‐Wan Lee and Simon W. Tai

This study investigates motivators and inhibitors of entrepreneurship and small business development in the transitional economy of Kazakhstan in Central Asia. A…

Abstract

This study investigates motivators and inhibitors of entrepreneurship and small business development in the transitional economy of Kazakhstan in Central Asia. A qualitative research was used to obtain a macro view of developing entrepreneurship and small business in Kazakhstan. A focus group interview with entrepreneurs and small business owners was conducted during 2006. In general, factors that enhance entrepreneurship and small business development include encouraging social entrepreneurship, increasing credits availability, improving institutional environment and supports from international organisations. Selected policy and practical implications are identified, such as improving institutional development, creating supportive business environment, and promoting social entrepreneurship.

Details

World Journal of Entrepreneurship, Management and Sustainable Development, vol. 6 no. 1/2
Type: Research Article
ISSN: 2042-5961

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