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Looks at the relationship between small business and entrepreneurship and also the differences between the two. Stresses that both are important separately and, in addition, notes where they overlap. Posits that in the early part of the last century small businesses were both vehicles for entrepreneurship and sources of employment and income but, although still important in the post‐war years, large firms made great inroads in the 1960s and 1970s. Concludes that government’s central role in entrepreneurialism for the economy is, by its very nature, enabling. Furthermore, entrepreneurship is acknowledged as a driver for economic growth, competitiveness and job creation.

Entrepreneurship ecosystems could be useful road maps for the formulation of entrepreneurship policies for countries in Africa. The twenty-first century economic development agenda lay a lot of emphasis on the pivotal role that entrepreneurship plays in the growth of economies, job creation and poverty alleviation especially in Africa. But without the right entrepreneurial ecosystems to enhance the formulation of pertinent entrepreneurship policies, achieving entrepreneurial economic growth will be difficult. The existing frameworks for the development of entrepreneurship ecosystems are based on research that has been conducted elsewhere. The paper aims to discuss these issues.

Entrepreneurship research in Africa has rarely focused in understanding and evaluating the entrepreneurship ecosystems. In this paper, we have attempted to examine the present state of the entrepreneurship ecosystems in four countries (Botswana, Egypt, Ghana and Uganda) in Africa. Despite the fact that extant literature on the concept is limited, it has been reviewed to provide a picture of entrepreneurship ecosystems. Relevant national and international documents were also examined to evaluate the present state of entrepreneurship ecosystems in these countries.

The findings from each of the countries though they depict a static situation, justify the proposition that entrepreneurs are omnipresent, it is only the entrepreneurship environment that accounts for the differences in entrepreneurial economic growth and the cross-countries comparisons shows the dissimilarities in national entrepreneurship environments.

In conclusion, a broad process to develop entrepreneurship ecosystems initiatives is suggested alongside the crucial roles that governments and other stakeholders should play which implies that a National Entrepreneurship Mission might be necessary.

Multiple case studies that have compared entrepreneurship ecosystems of countries in Africa are very rare. This study though explorative, is one of the first. The findings and conclusions could be useful for a detailed study to map out pertinent and self sustaining entrepreneurship ecosystems that are necessary for the formulation of entrepreneurship policies.

Small and emerging business failure rates are high for numerous reasons. Government regulation has been cited as a contributing factor, yet literature documenting the actual effects of government regulation on small business is limited. The purpose of this paper is to clearly outline the regulatory compliance costs and effects on small businesses in the California dairy industry.

This paper applies a public choice framework to the history of dairy regulation and performs a case study on a small business, The White Moustache (TWM). The case study traces the burdens and costs of state dairy regulations placed on TWM as they sought the necessary permits to sell their artisan yogurt.

Strict and unresponsive regulation restricted TWM from selling their product. To comply with state dairy regulations, the direct costs to TWM would have increased by 70 percent. In addition, regulation caused two and a half years of delay before the company decided to leave the state. California’s dairy regulations place burdens on small dairy businesses that work as a strategic barrier to entry in the marketplace.

This case study highlights the direct effects that strict and unresponsive regulation can have on entrepreneurs and emerging businesses through a case study. Improving the understanding of how regulation affects small business can highlight new paths forward and help improve the small business failure rate in the USA.

The purpose of this paper is to empirically uncover the relationship between economic integration and levels of entrepreneurial activity across 24 EU countries between 2004 and 2012. The deepening of EU integration corresponds to increases in the size and competitiveness of domestic markets as member states reorient economic activity toward the larger, competitive single market. Spillovers of both economic and political dimensions of integration in the common market on micro firm and self-employment are considered. The paper contributes to the understanding of the hypothesized relationship between globalization and the rise of entrepreneurial economy.

The paper uses fixed effects linear regression models to estimate the marginal effects of economic integration on entrepreneurial activity. Several dependent variables and controls for social, economics, and institutional context are used to confirm the robustness of the results.

The paper finds that increased economic activity of member countries within the EU common market, as well as institutional compliance and integration in the European Monetary Union and Schengen Agreement are positively and significantly associated with the rise of entrepreneurship. Notably, it is found that a standard deviation increase in economic and political integration is associated with, respectively, 16 and 7.2 percent increase in micro firm density. Some preliminary evidence on the quality of the arising entrepreneurial activity are also given.

The paper takes stock of existing descriptive and theoretical literature on global economic integration and entrepreneurship to uncover, for the first time, the empirical relationship between entrepreneurship and levels of economic and political integration within the EU bloc.

The purpose of this paper is to analyse the determinants of entrepreneurial activity in the Nordic countries over the period of years 2004-2013 to provide supportive material for the Nordic entrepreneurial policy makers with specific focus on the role of necessity/opportunity-driven entrepreneurship, administrative barriers and the research and development (R&D) sector.

Quantitative study employed panel regression analysis with fixed effects estimator to test the impact of determinants on entrepreneurial activity operationalized as a rate of registered business activity and as an established business ownership rate.

The results obtained for the both dependent variables did not substantially differ from each other or the supported hypothesis stating a positive relationship between unemployment rate, GDP per capita and entrepreneurial activity. Also a negative impact of administrative barriers was found. However, no statistically significant positive impact of the R&D sector was observed.

Nordic entrepreneurial policy makers should put more effort into the reduction of administrative barriers towards founding enterprises and support entrepreneurship during the times of higher unemployment rates. Further evaluation of Nordic R&D policies is strongly needed, since no positive impacts towards entrepreneurship were found.

The empirical analysis was conducted based on the research gap in the studies related to the Nordic entrepreneurial policies and perceived need for the policy recommendations that are provided.

National systems of entrepreneurship (NSE) broadly act as a means of allocating resources driven by the constant search for opportunities at the individual level through the launching of new businesses and firms with such activities, and their results are governed by the specific institutional characteristics of each country. In contrast to the institutional emphasis on innovation systems, in which such institutions establish and regulate actions, institutions are only able to regulate those who act with the results stemming from such individual actions, the core driver of national entrepreneurship systems.

Given the challenges faced by companies and societies in general over mitigating climate change, support for sustainable entrepreneurship is fundamental. However, there has to be any study of the impact of national entrepreneurship systems on sustainability. This research therefore analyses the impact of national entrepreneurship systems on the sustainability of countries.

The authors conclude that those countries deploying higher level national entrepreneurship systems return better results in terms of their sustainability.

The authors, thus, seek to contribute towards the academic throughout deepening the knowledge prevailing on the relationship between entrepreneurship and sustainability. The authors also seek to enable managers, entrepreneurs and politicians to grasp how entrepreneurship is a systemic factor, and it is at this level that it may make its greatest contribution to bringing about sustainability.

The purpose of this paper is to investigate how and when intrinsic (personal growth, affiliation, community contribution, health) and extrinsic (financial success, fame, physical appearance) goals affect individuals’ entrepreneurial intentions (EIs). The study uses goal contents theory to propose that intrinsic and extrinsic goals positively influence individuals’ EIs. The authors further argue that the collectivism moderates the effect of intrinsic and extrinsic goals on individuals EIs.

A survey was designed to collect data from business graduates at a university in Pakistan. The measurement model and the hypothesized model were tested using the structural equation modeling technique in MPlus 7.0.

The results suggest that all four intrinsic goals and three extrinsic goals positively affect individuals’ EIs. However, financial success and fame appear to be the most prominent determinants of EIs. Similarly, personal growth and contribution to community are strong predictors of individuals’ EIs. Conversely, health, physical appearance and affiliation motives were found to have a weaker effect on individuals’ EIs. Moreover, the results show that collectivist orientation negatively moderates the effect of intrinsic goals on individuals’ EIs, but positively moderates the effect of extrinsic goals. These results suggest that the EIs of individuals with high collectivist orientation are mainly induced by extrinsic goals, whereas intrinsic factors play a greater role in stimulating the EIs of individuals with low collectivism.

Extant research has paid little attention to intrinsic and extrinsic goals as determinants of individuals’ EIs. Thus, this study explores how and when intrinsic and extrinsic goals develop individuals’ EIs. This study is the first of its kind to highlight the importance of individuals’ cultural orientation (collectivism) to determine the alternative role of intrinsic and extrinsic goals in developing individuals’ EIs. In addition, this study was conducted in a different cultural setting (i.e. South Asia), which provides an opportunity to expand the boundary conditions of the phenomenon by offering an alternative perspective on this issue.

To date, limited studies have examined the country-specific social institutions to explain the informal entrepreneurial activities of women, particularly, within the context of the Middle East. This research paper attempts to close this gap through identifying the contextual and personal factors of domestic informal female entrepreneurs (DIFE) within the context of Turkey as a representative case of the Middle East region. The chapter takes national culture as the external context to identify the informal institutions that shape women's informal entrepreneurial activities and uses the Globe Project cultural dimensions to describe the sociocultural context. The qualitative research presented here was conducted with 38 DIFEs who participated in an EU-funded project in Turkey.

The profile of the informal domestic female entrepreneur reflects a middle-aged woman, married with children, literate with a low-level education and a necessity-type entrepreneur at the beginning who gradually evolves into a pull-type sociocultural entrepreneur in time. The findings show that, the perceived sociocultural environment can be categorized as a socially supportive culture – SSC (Hayton and Cacciotti, 2013, p. 713) which is one of the facilitators of informal entrepreneurial activities and creates a fertile and socially legitimized ground for the informal commercial activities of women in Turkey.

Entrepreneurial activity is a phenomenon that increases the economic growth of countries and improves their social welfare. The economic development levels of countries have significant effects on these entrepreneurial activities. This research examines which institutional and macroeconomic variables explain early-stage entrepreneurship activities in developed and developing economies.

The authors conducted panel data analysis on the data from the Global Entrepreneurship Monitor (GEM) and International Monetary Fund (IMF) surveys covering the years 2009–2018.

First, the authors' results reveal that cognitive, normative and regulatory institutions and macroeconomic factors affect early-stage entrepreneurial activity in developed and developing countries differently. Second, the authors' findings indicate that cognitive, normative and regulatory institutions affect early-stage entrepreneurship more positively in developed than developing countries. Finally, the authors' results report that macroeconomic factors are more effective in early-stage entrepreneurial activity in developing countries than in developed countries.

This study provides a better understanding of the components that help explain the differences in entrepreneurship between developed and developing countries regarding institutions and macroeconomic factors. In this way, it contributes to developing entrepreneurship literature with the theoretical achievements of combining institutional theory and macroeconomic indicators with entrepreneurship literature.

The purpose of this paper is to examine the impact of small loans on new firm performance using data from the second Panel Study of Entrepreneurial Dynamics, a large longitudinal data set of new firms in the USA. Contrary to prior research which suggests that small or microloans primarily benefit entrepreneurs who experience disadvantages in the marketplace, the findings revealed no significant differences in loan source or loan amount by gender, ethnicity, or employment status during the early years of the firm. The findings did reveal, however, that the motivations (push vs pull) of the entrepreneur were a determinant of loan source. From this, the authors begin to develop a theory of financial bricolage based on the premise that small loans secured at key points in time can make a significant difference on firm performance for all types of entrepreneurs, not just those who have traditionally be classified as “disadvantaged.”

The data for this study was taken from the Panel Study on Entrepreneurial Dynamics (PSED II). The authors focussed on business performance measures over the six years of that study to reassess existing findings on relationships between microfinance and underperformance, especially among women, ethnic and unemployed entrepreneurs, from a financial bricolage perspective. Specifically, the authors will assess the impact of small or microloans on business performance over time by tracking the role of financial sources, amount of money borrowed, background characteristics, and motivation to start a business (i.e. push or pull).

The results also revealed no significant difference by gender, ethnicity, or employment status in the source of amounts of small loans secured during the first two years of the businesses. Thus, consistent with the theory of financial bricolage, all types of entrepreneurs engaged in seeking out small loans during the early years of their businesses’ existence.

Although using the PSED II has many advantages, it is not protected from methodological pitfalls. One such potential disadvantage is the fact that this database allows the authors to understand the development of US-based nascent entrepreneurs, but overlooks other countries. Future research efforts should be focussed on surveying nascent entrepreneurs from other countries and cultures to expand the understanding of the relations between small loans and financial sources on business performance worldwide. This could be most useful for intensifying research in regions that generate more push and/or pull entrepreneurs. A second disadvantage inherent in the PSED is that interviews in follow-up surveys may have become impossible over time, resulting in missing data. In addition, the reasons for being unable to reach interviewees are not always clear. In the entrepreneurial realm, these reasons have a great impact on the understanding of the development of new businesses. Interviewees’ businesses may have gone bankrupt, merged with other firms and thus changed contact details, gone global and therefore left the country, etc. (Delmar and Shane, 2003); these could bias the results. A final potential weakness in the PSED is that the data are based on entrepreneurs’ self-reports which are known to be prone to many kinds of response bias.

By offering practical education aimed at enhancing the financial performance of entrepreneurs, the authors believe that they can meet the challenges posed by the research (e.g. Du Rietz and Henrekson, 2000; Parker, 2004; Pfeiffer and Reize, 2000; Reynolds et al., 2002) on performance gaps between entrepreneurs with different background characteristics and those embarking on entrepreneurship with different motivations (push vs pull). In line with the financial bricolage theory, the results may aid governmental bodies, educational and academic institutions oriented toward entrepreneurs, and small businesses, in constructing programs that will train entrepreneurs to be attentive to the diverse range of potentially available resources, including small loans and different financial sources.

The research challenges the necessity-opportunity simplistic categorization and builds upon prior work in the field of bricolage, or the practice of “making do with whatever is at hand,” to begin developing a theory of “financial bricolage.” It is the contention that all new businesses are resource-constrained due to challenges posed by asymmetric information. Thus, new businesses, in general, do not have access to a full range of funding alternatives. In light of this, small loans may be critical for the survival and success of not only necessity-based businesses but opportunity-based businesses as well. The results and findings bear this out.