NASCENT ENTREPRENEURS AND THE TRANSITION TO ENTREPRENEURSHIP: WHY DO PEOPLE START NEW BUSINESSES?

Stelios H. Zanakis (), Maija Renko and Amanda Bullough
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Stelios H. Zanakis: Florida International University, Chapman Graduate School of Business, 11200 SW 8 Street, RB 250, Miami, FL 33199, USA
Maija Renko: The University of Illinois at Chicago, Department of Managerial Studies, MC 243, Room 2211, University Hall, 601 South Morgan Street, Chicago, Illinois 60607, USA
Amanda Bullough: Thunderbird School of Global Management, 1 Global Place, Voris Bldg B 155, Glendale, AZ 85306, USA

Journal of Developmental Entrepreneurship (JDE), 2012, vol. 17, issue 01, pages 1250001-1-1250001-25

Abstract: What makes nascent entrepreneurs get their businesses up and running? We answer this by examining in a broad and unifying way: motivation and cognition, knowledge and experience and social support. We apply extensive multivariate analyses to a sample of 338 nascent entrepreneurs from the PSED database. Interestingly, most of our long-term (4½-year) model predictions of startup transition based on early antecedents are more accurate than the short-term ones — a practical strength of these models. Findings indicate that experienced, persistent, confident individuals, motivated mostly by non-financial outcomes, perceiving support from their social contacts and institutional environment, are likely to make the transition to a successful business.

Keywords: Entrepreneurship; nascent entrepreneurs' mindset; start-up business survival; transition to entrepreneurship; multivariate statistical analysis (search for similar items in EconPapers)
Date: 2012
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