RISK, PERSISTENCE and FOCUS: A LIFE CYCLE OF THE ENTREPRENEUR

Ian Hunter

Australian Economic History Review, 2005, vol. 45, issue 3, pages 244-272

Abstract: Adapting a life cycle model from managerial literature, conclusions are drawn about the nature of colonial entrepreneurship from a case analysis of 133 New Zealand entrepreneurs, active between 1880 and 1910. Five stages in the life cycle of the entrepreneur are investigated: preparation, embarkation, exploration, expansion and transformation. Characteristic behaviours observed include the prevalence of entrepreneurial partnerships; a propensity for commencing multiple business ventures; and persistence in the face of business failure. Strategically, the colonial entrepreneur leveraged personal skills and abilities as a modus operandi for business expansion, often relying on family ownership and family management structures. Copyright Blackwell Publishing Asia Pty Ltd and the Economic History Society of Australia and New Zealand 2005.

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