“Der Noth gehorchend, nicht dem eignen Trieb” – Nascent Necessity and Opportunity Entrepreneurs in Germany: Evidence from the Regional Entrepreneurship Monitor (REM) Using a large recent representative sample of the adult German population this paper demonstrates that nascent necessity and nascent opportunity entrepreneurs are different with respect to some of the characteristics and attitudes ...

How do entrepreneurs obtain the creative ideas they need to develop innovative new products? We interviewed 32 technology entrepreneurs to generate a grounded theory as to how technology entrepreneurs use social behaviors, techniques, and cognitive processes to generate, validate, and refine ideas for new products, processes, or services. The results reveal a complex, cyclical, and recursive mu...

This study develops an entrepreneurial typology employing nvo dimensions, high versus low entrepreneurial alertness and internal versus external attributional styles that helps illustrate why entrepreneurs start new businesses. The resulting 2 x2 typology of entrepreneurs identifies four entrepreneur types based on these nvo dimensions: the true believer, clueless, practical, and reluctant. Usi...

The article presents evidence from SMME entrepreneurs regarding their experiences on economic issues which impact negatively on their sustainability. The inception of the democratic government resulted in the fast boom of small, medium and micro enterprises (SMMEs) due to the introduction black economic empowerment (BEE) initiatives. Using structured questionnaires, the data were collected by p...

We have studied the relationship between optimism, pessimism and entrepreneurial attitudes among university undergraduate students (n = 206). We used the revised Life Orientation Test [1] as a measure of optimism and pessimism and we hypothesized that technological potential entrepreneurs are more optimistic and less pessimistic than non-potential entrepreneurs. Our results show a main effect o...

Formality, Informality, and Social Welfare An industry is modeled in which entrepreneurs, who are heterogeneous in ability, may produce formally or informally. It is shown how the formal-informal mix depends on the distribution of ability, product demand and various parameter values. The industry equilibrium is compared to one in which informality is prohibited. With relatively high product dem...

This paper develops a theory of entrepreneurial learning from performance errors. The paper explains how entrepreneurs generate outcomes, and based on these, detect and correct errors in their own knowledge about the activities involved in creating and operating a new venture. The model developed in this paper reflects the major cognitive functions leading to outcome generation, error detection...

Is financial innovation necessary for sustaining economic growth? To address this question, we build a Schumpeterian model in which entrepreneurs earn profits by inventing better goods and profit-maximizing financiers arise to screen entrepreneurs. The model has two novel features. First, financiers engage in the costly but potentially profitable process of innovation: they can invent better me...

The paper describes the results of an empirical study of some business environment factors impact on risk taking decision-making of entrepreneurs on the basis of individual entrepreneurial judgments. Multiple regression analysis is used to interpret data collected from 382 micro-entrepreneurs. It aims to answer the question of whether differences across economic environments may be reflected in...

This study aims to investigate the formal and informal attributes of founding entrepreneurs contributing to venture growth. The study found significant relationship between venture growth and entrepreneurs with high personal initiative, focused on specific competency areas within operations, finance, marketing and human resources. In operations, founding entrepreneurs are found to be concerned ...