SUCCESS OF THE HANDICRAFT SUBSISTENCE BUSINESS AND ITS RELATIONSHIP WITH BUSINESS PERFOMANCE, EL EXITO DE LOS NEGOCIOS DE SUBSISTENCIA DE ARTESANIA Y SU RELACION CON EL DESEMPENO

Arcelia Toledo-Lopez, Luis Mendoza-Ramirez and Patricia Soledad Sánchez-Medina

Revista Internacional Administracion & Finanzas, 2016, vol. 9, issue 1, 57-68

Abstract: This paper analyzes how subsistence entrepreneur’s success is related to financial and non-financial business performance in handicraft business. The approach of five typology’s success in subsistence businesses were identified in the context of subsistence businesses. These include local markets, income for subsistence, lack of access to basic resources and government support and informal network. Based on this background we propose hypothesis (1) the definition of success is determined by financial performance (2) the definition of success is related to the entrepreneur’s goals and motives to start his/her business. To test the hypothesis, an exploratory and cross-sectional study were used. Seventy-six subsistence handicraft businesses were interviewed in Oaxaca, Mexico. We found the definition of business success is determined by customer-oriented goals and entrepreneurial motivation to self-realization and to transmit a cultural identity, as well as non-financial business performance. But, we did not find a significant relationship with financial performance.

Keywords: Success; Subsistence Entrepreneur; Performance; Handicrafts (search for similar items in EconPapers)
JEL-codes: M1 M19 (search for similar items in EconPapers)
Date: 2016
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