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1 – 10 of over 18000
Article
Publication date: 2 August 2022

Dafna Kariv, Luis Cisneros, Gaby Kashy-Rosenbaum and Norris Krueger

Research shows that innovation is imperative for business competitiveness and that entrepreneurs are stimulators of innovation. This is particularly true for younger entrepreneurs

Abstract

Purpose

Research shows that innovation is imperative for business competitiveness and that entrepreneurs are stimulators of innovation. This is particularly true for younger entrepreneurs, who are recognized as having technological savvy, high dependency on the web, low fear of change and high zeal for challenges. However, not all businesses headed by younger entrepreneurs innovate, and research on younger entrepreneurs' innovation is lacking. This study assessed the main drivers of innovation in a sample of young Canadian entrepreneurs leading businesses in the initiation phase.

Design/methodology/approach

A sample of young Canadian entrepreneurs leading businesses in the initiation phase has been employed. This study is based on younger entrepreneurs and draws on the definition of generations Y and Z (Taylor and Keeter, 2010). It examines the initial stage of a business, up to 3 years. The sample includes 100 adults (65% female), whose ages ranged from 18 to 34 years. The drivers to innovate included external support (e.g. mentoring, funds, accelerators) and internal factors, including psychological attributes (i.e. risk-taking) and entrepreneurial motivations. Regression and structural equation modeling analyses have been conducted.

Findings

The findings revealed that entrepreneurial motivations for achieving self-fulfillment and contributing to the world, which are prevalent among younger generations, fostered innovation both directly and indirectly through the mediating effect of external support and risk-taking. External support fostered innovation not directly but through the mediating effect of risk-taking; in contrast, internal factors directly propelled innovation. This finding demonstrates the significance younger generations attribute to internal factors over external factors in the quest for innovation.

Practical implications

This study can be an intriguing starting point for future studies to examine in more depth the intertwined role of external and internal factors in accelerating innovation among younger entrepreneurs. Studies could examine various psychological attributes and professional and business capabilities (Zahra, 2021) as well as external factors.

Originality/value

Our findings add to this literature in stressing the need to strengthen risk-taking among younger entrepreneurs, which is affected by external support and produces innovation; and reinforce the relevance of the resource-based view in revealing younger entrepreneurs' avenues to develop innovation, pinpointing external support as contingent on motivation and demonstrating the role of risk-taking in the pursuit of innovation.

Details

European Journal of Innovation Management, vol. 27 no. 2
Type: Research Article
ISSN: 1460-1060

Keywords

Article
Publication date: 15 April 2022

Diego Matricano

Diversity in entrepreneurship has become a noteworthy topic of research since consistent differences – and few similarities, if any – exist among entrepreneurial profiles. The…

Abstract

Purpose

Diversity in entrepreneurship has become a noteworthy topic of research since consistent differences – and few similarities, if any – exist among entrepreneurial profiles. The present paper aims to compare different entrepreneurial profiles managing innovation processes in new technology-based firms (NTBFs). In particular, attention is focussed on young entrepreneurs who are in a critical phase of their lifelong learning, the school-to-work transition.

Design/methodology/approach

Statistical elaborations are based on data retrieved from Italian Ministry of Economic Development in January 2021 and carried out through stochastic frontier analyses. Respectively, 1,699 young entrepreneurs, 1,079 female entrepreneurs, 205 ethnic entrepreneurs and 8,224 stereotyped entrepreneurs are considered.

Findings

Factors affecting the performance of innovation processes managed in NTBFs are the same for stereotyped and female entrepreneurs, but they consistently differ for young and ethnic entrepreneurs. Achieved results are not in the position to offer a complete analysis of the phenomenon but – hopefully – can corroborate a very interesting and up-to-date research path that merits further development. In particular, young entrepreneurs disclose an unexpected skills mismatch that should be investigated in-depth.

Originality/value

Most contributions offer a narrow view of entrepreneurial profiles since they focus on one profile per time. The present paper, instead, considers four entrepreneurial profiles and compares them. Moreover, young entrepreneurs reveal an unexpected skills mismatch that underlines the relevance of specific activities of on-the-job training and apprenticeships in order to try to overcome it and improve the results achievable by young entrepreneurs.

Book part
Publication date: 9 June 2022

Nor Liza Abdullah, Mohd Radzuan Rahid, Nur Saadah Muhamad and Nor Syamaliah Ngah

Young entrepreneurs' involvement in social entrepreneurship is gaining momentum, and the impact of their active participation in social enterprises is tremendous. As younger

Abstract

Young entrepreneurs' involvement in social entrepreneurship is gaining momentum, and the impact of their active participation in social enterprises is tremendous. As younger generation creates and leads social enterprises, self-identity that entails their leadership can bring benefits to various stakeholders. In particular, the engagement of younger generation in social entrepreneurship lead to positive identity development that brings impact not only to the founders but also to the employees, volunteers and recipients of the product and services offered by the social enterprise. In this context, the chapter explains the importance of social entrepreneurship in society-building, looking into how it creates values to its participants in regard to personal growth and development. The objective of this chapter is to elucidate the role of social enterprises in developing the personal identity of the younger generation. The chapter maps the characteristics of social entrepreneurs to the characteristics of young people with focus on the development of personal, social and role identities. The chapter also explains the significance of young social entrepreneurs' participation in social activities for the identity formation and how it directly and indirectly contributes to a balanced societal development.

Book part
Publication date: 17 June 2019

Robyn Owen, Julie Haddock-Millar, Leandro Sepulveda, Chandana Sanyal, Stephen Syrett, Neil Kaye and David Deakins

The chapter examines the role of volunteer business mentoring in potentially improving financing and financial management in under-served (i.e. schemes aim to assist deprived…

Abstract

Introduction – General Principles

The chapter examines the role of volunteer business mentoring in potentially improving financing and financial management in under-served (i.e. schemes aim to assist deprived neighbourhoods and youth entrepreneurs) youth enterprises.

Youth entrepreneurship (commonly defined as entrepreneurs aged up to 35 years) is regarded by the OECD as under-represented, within entrepreneurship as a general social phenomenon, and young entrepreneurs as disadvantaged through being under-served. Indeed, young people with latent potential for entrepreneurship have been defined as a component of ‘Missing Entrepreneurs’ (OECD, 2013). This under-representation of nascent entrepreneurs within young people under 35 is partly theoretical. While examining entrepreneurship as a social phenomenon and taking a resource-based approach (Barney, 1991), young people are perceived at a particular disadvantage compared with older members of society. That is, however creative, they lack the experience and network resources of older members.

Theoretically, from a demand-side perspective, young people may have aspirations and the required skills for start-up entrepreneurship, but are disadvantaged from a supply-side perspective since financial institutions, such as the commercial banks, private equity investors and other suppliers of financial debt and equity, will see greater risk combined with a lack of track record and credibility (pertaining to information asymmetries and associated agency and signalling problems: Carpenter & Petersen, 2002; Hsu, 2004; Hughes, 2009; Mueller, Westhead, & Wright, 2014). This means that aspiring nascent youth entrepreneurs face greater challenges in obtaining mainstream and alternative sources of finance. Practically, unless such young entrepreneurs can call upon deep pockets of the ‘bank of Mum and Dad’ or family and friends, we can expect them to resort to pragmatic methods of stretching their resources, such as financial bootstrapping and bricolage (Mac an Bhaird, 2010; Mac an Bhaird & Lucey, 2015). Although these theoretical and practical issues have long existed for youth entrepreneurship, they have only been exacerbated in the post-2007 Global financial Crisis (GFC) financial and economic environment, despite the growth of alternative sources such as equity and debt sources of crowdfunding.

Prior Work – Unlocking Potential

There has been an evidence for some time that young people have a higher desire to enter entrepreneurship and self-employment as a career choice, in preference to other forms of employment (Greene, 2005). Younger people are also more positive about entrepreneurial opportunities. For example, a Youth Business International, Global Entrepreneurship Monitor (YBI/GEM) (2013) report indicated that in the European Union (EU), ‘younger youth’ were more positive in their attitudes to good business opportunities and in seeing good opportunities than older people. Theoretically, the issues of low experience and credibility can be mitigated by the role of advisors, consultants and/or volunteer business mentors. In corporations and large organisations, mentors are known to be valuable for early career staff (Clutterbuck, 2004; Haddock-Millar, 2017). By extension with young entrepreneurs, business mentors raise credibility, develop personal and professional competence, business potential and entrepreneurial learning. From a supply-side perspective, this reduces risk for financial institutions, potentially increasing the likelihood of receiving external finance and improving the likely returns and business outcomes of such financing.

Methodological Approach

In examining the role of business mentoring in youth entrepreneurship finance, the chapter poses three research-related questions (RQs):

To what extent is the youth voluntary business mentoring (VBM) associated with access to external finance?

Where access to external finance takes place, does the VBM improve the outcomes of the businesses?

To what extent do VBMs make a difference to the performance of businesses receiving financial assistance?

The chapter draws on primary evidence from an online Qualtrics survey of 491 (largely) youth entrepreneur mentees drawn from eight countries in the YBI network. These were selected for their contrasting high (Sweden and Spain), middle (India, Argentina, Chile, Russia and Poland) and lower (Uganda) income economies, global coverage of four continents and operation of established entrepreneurship mentoring schemes. The study provides collective quantitative data on the current relationship between mentoring and the access and impact of external finance. It surveyed current or recently completed mentees during Autumn 2016 – the typical mentoring cycle being 12 months. Additionally, the chapter draws on further qualitative insight evidence from face-to-face interviews, with current mentor-mentee case study pairings from the eight countries.

Key Findings

In summary, the profile of surveyed mentees demonstrated even gender distribution, with three-fifths currently in mentoring relationships. At the time of commencing mentoring, nearly four-fifths were aged under 35, half being self-employed, one quarter employed, with the remainder equally distributed between education and unemployment. At commencement of mentoring, mentee businesses were typically in early stages, either pre-start (37%) or just started trading (34%), the main sectors represented being business services (16%), education and training (16%), retail and wholesale (12%) and creative industries (8%), with the median level of own business management —one to two years.

For one-third of mentees, mentoring was compulsory, due largely to receiving enterprise finance support, whilst for the remainder, more than a quarter stated that access to business finance assistance was either considerably or most important in their choice to go on the programme.

In terms of business performance, businesses receiving external finance (loans or grants through the programme) or mentoring for business finance performed significantly better than the rest of the sample: amongst those trading 47% increased sales turnover, compared to 32% unassisted (<0.05 level); 70% increased employment, compared to 42% (<0.05); 58% directly attributed improved performance to mentoring, compared to 46% (<0.1).

Contribution and Implications

The chapter provides both statistical and qualitative evidences supporting the premise that youth business mentoring can both improve access to external finance and lead to improved business performance. This provides useful guidance to youth business support, given that in some of the countries studied, external financing in the form of grants and soft micro loans for youth entrepreneurs are not available.

Details

Creating Entrepreneurial Space: Talking Through Multi-Voices, Reflections on Emerging Debates
Type: Book
ISBN: 978-1-78769-577-1

Keywords

Book part
Publication date: 8 October 2019

Seyedali Ahrari, Steven Eric Krauss, Zaifunizam Ariffin and Lee Kwan Meng

Recent interest in social entrepreneurship among young people has led to a heightened interest in new research. Few studies, however, have yet to investigate motivators of…

Abstract

Recent interest in social entrepreneurship among young people has led to a heightened interest in new research. Few studies, however, have yet to investigate motivators of involvement, particularly from countries that are new to social entrepreneurship. The current study set out to better understand this phenomenon among young social entrepreneurs in Malaysia. In-depth one-to-one interviews with 12 young entrepreneurs were carried out to collect the data. Four themes and ten sub-themes emerged from the interviews, including early life experience (childhood experience and family experience), inspiration from clients and colleagues (interactions with the target group and exposure to social entrepreneurs), work-related experience (volunteer experience and job-related experience), and personal meaning (contribute back to society, desire for more meaning in life, and personal passions). The implications for policy-makers and interested parties are outlined in regard to enhancing participation and interest among youth for social entrepreneurship.

Content available
Article
Publication date: 1 March 2009

Robert P. Singh

This article discusses the statistics and trends surrounding the rapidly aging U.S. population. Older workers will make up an increasing portion of the workforce and these…

1532

Abstract

This article discusses the statistics and trends surrounding the rapidly aging U.S. population. Older workers will make up an increasing portion of the workforce and these individuals represent an important growing demographic target market. While much has been written about the aging population and the potential for entrepreneurs to target this growing market, little research has been conducted on older entrepreneurs. They are a unique group and this article provides empirical results and discussion about the differences and importance of older entrepreneurs to the economy and as contributors to American society. Practical implications and future research directions are discussed.

Details

New England Journal of Entrepreneurship, vol. 12 no. 1
Type: Research Article
ISSN: 2574-8904

Article
Publication date: 7 December 2023

Hussam Al Halbusi, Fadi AbdelFattah, Marcos Ferasso, Mohammad Alshallaqi and Abdeslam Hassani

Many entrepreneurs often struggle with the fear of failure, which can be detrimental to both their business and personal well-being. To better understand the factors that…

Abstract

Purpose

Many entrepreneurs often struggle with the fear of failure, which can be detrimental to both their business and personal well-being. To better understand the factors that contribute to this fear, the authors conducted research on the impact of various obstacles, such as limited financial resources, risk aversion, stress and hard work avoidance, and prior business failures. Additionally, the authors explored the effects of social capital in mitigating these obstacles and their relationship to fear of failure in entrepreneurship.

Design/methodology/approach

The authors conducted a survey with 440 young Iraqi entrepreneurs using non-probabilistic and purposive methods. The survey instrument included multiple measuring scales, which were provided in both English and Arabic. The authors analysed valid responses using structural equation modelling (SEM) with partial least squares (PLS).

Findings

The findings show that the fear of failure in entrepreneurship is negatively influenced by factors such as limited financial access, risk aversion, and past business failures. However, aversion to stress and hard work did not have a significant impact. The findings also show that social capital could potentially mitigate these negative factors.

Research limitations/implications

The theoretical and practical implications of this study manifest in revealing the difficulties entrepreneurs encounter in developing countries like Iraq, where entrepreneurship is vital for economic growth. The study's limitations stem from its focus on one country and the use of a single survey method. Future research could use varied methods across multiple countries for a more comprehensive view.

Originality/value

This study sheds light on the factors that are obstacles for entrepreneurs to starting a business in emerging economies like Iraq.

Details

Journal of Small Business and Enterprise Development, vol. 31 no. 1
Type: Research Article
ISSN: 1462-6004

Keywords

Open Access
Article
Publication date: 3 August 2021

Oluyemi Theophilus Adeosun, Ayodele Ibrahim Shittu and Daniel Ugbede

Despite the noticeable consequences of disruptive financial innovations, access to finance remains a major factor inhibiting the sustainable-growth potentials of young micro…

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Abstract

Purpose

Despite the noticeable consequences of disruptive financial innovations, access to finance remains a major factor inhibiting the sustainable-growth potentials of young micro-entrepreneurs in informal settings. This study examines the determinants of financing options among micro-entrepreneurs in informal settings. Specifically, the study seeks to establish whether credit history, income, asset, gender, awareness and network capability have effects on formal and informal financing options among micro-entrepreneurs in informal settings.

Design/methodology/approach

This article uses the survey research design and administers a structured questionnaire among 300 purposively selected micro-entrepreneurs within the University of Lagos, Nigeria. Only 291 completed questionnaires are retrieved. This article also uses the multiple regression analysis to estimate the empirical model and test the research hypotheses respectively.

Findings

This article establishes that: (1) credit history and assets-based financing are significant determinants of formal financing options among young micro-entrepreneurs in informal settings, (2) gender and network capability are significant determinants of informal financing options among young micro-entrepreneurs in informal settings and (3) awareness is significant of both formal and informal financing options among young micro-entrepreneurs in informal settings.

Originality/value

This article examines the determinants of financing option among young micro-entrepreneurs in informal settings. Specifically, the study seeks to establish whether credit history income asset gender awareness and network capability have effects on formal and informal financing options among micro-entrepreneurs in informal settings.

Details

Journal of Business and Socio-economic Development, vol. 3 no. 1
Type: Research Article
ISSN: 2635-1374

Keywords

Article
Publication date: 29 October 2021

Fikri Zul Fahmi and Medina Savira

This paper aims to identify how digitalization affects entrepreneurial attitudes in rural areas in Indonesia, a country in the Global South. The development of digital technology…

Abstract

Purpose

This paper aims to identify how digitalization affects entrepreneurial attitudes in rural areas in Indonesia, a country in the Global South. The development of digital technology can help entrepreneurs, in that faster and easier information acquisition helps rural communities to identify new opportunities and innovate. Yet, digital development generates higher disparity, and thus, not all people can benefit from digitalization. Although digital technology can facilitate the development of entrepreneurship, its benefits depend on individual preferences. In this regard, the capability approach is used so as to reflect how different valuations of digital technology in rural entrepreneurs influence their attitude with regard to recognizing business opportunities and taking risks.

Design/methodology/approach

A double case study approach is used in which this study examines two cases of rural entrepreneurs in Indonesia that represent different uses of digital technologies and socio-economic rural contexts: coffee entrepreneurs in Kintamani and craft producers in Kamasan village. In so doing, semi-structured interviews were conducted with local entrepreneurs and communities according to purposive and snowball sampling techniques. The qualitative data were then analysed using a constant comparative technique which allows us to develop a conceptual argument by observing patterns within and between the cases.

Findings

The findings show that digitalization shapes the attitude of rural entrepreneurs differently, although the same opportunity from using digital technology is present in the village. Social and environmental factors facilitate the rural entrepreneurs to consider using digital technology to develop their businesses. However, as each individual entrepreneur has a different valuation of digital technology, the benefits it offers – such as broader market opportunities and new business ideas – vary. Entrepreneurs who consider digital technology to be a valuable resource for developing their businesses are more curious to explore its benefits.

Originality/value

The capability approach provides a new perspective in understanding rural entrepreneurship. First, the authors demonstrate that the success of rural entrepreneurship is influenced not only by concrete things (e.g. resources) but also the individual perspective on these resources which may vary across entrepreneurs. Second, the authors show not only the potential differences in socio-cultural contexts in which the capability approach is applied but also how socio-cultural values and collectivism influence the individual valuation of resources that could benefit entrepreneurs.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. 17 no. 2
Type: Research Article
ISSN: 1750-6204

Keywords

Article
Publication date: 21 October 2013

Andrea Santiago

There is a desire to improve economies as a way to solve social inequities while simultaneously addressing the issue of sustainability. Young and Tilley developed a model that…

1001

Abstract

Purpose

There is a desire to improve economies as a way to solve social inequities while simultaneously addressing the issue of sustainability. Young and Tilley developed a model that describes a sustainability entrepreneur. The purpose of this paper is to apply the model in the Philippine setting to determine if there exists a special entrepreneur who looks beyond profit motivations, considers social inequities, and looks towards future generations.

Design/methodology/approach

The paper used the narrative approach in learning more about the motivations and sustainability practices of two Filipino entrepreneurs. The objective was not to compare the practices of both but to match it with the 12 elements of the sustainability entrepreneur model of Young and Tilley.

Findings

The concept of sustainability entrepreneurship is unknown to the two entrepreneurs. Yet, both engaged in sustainable business practices, meant to improve living conditions of marginalized groups. However, while they have actually helped communities to take better control of their livelihood, they have not yet consciously imbibed the element of futurity.

Research limitations/implications

The paper attempts to further the model of Young and Tilley. However, since the measurement of sustainable entrepreneurship is not definitive, the researcher used pseudo-measures.

Practical implications

Informing entrepreneurs of the value of sustainability entrepreneurship, may lead to more for-profit enterprises to consider the effects of their business practices on the future of marginalized group and the environment.

Originality/value

There is no publication yet that has applied the Young and Tilley model. This paper shows that the model may have practical implications for entrepreneurs.

Details

World Journal of Entrepreneurship, Management and Sustainable Development, vol. 9 no. 4
Type: Research Article
ISSN: 2042-5961

Keywords

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