Entrepreneurial and Small Business Operations Commons^™

A Cross-Country Assessment Of Government Intervention And Entrepreneurial Activity, Maria Minniti

New England Journal of Entrepreneurship

Recent studies have shown that the contribution of small firms to employment and GDP is increasing. A large amount of work has also established the significance of social and economic variables for entrepreneurial decisions. Very little is known, however, about how government policies and programs influence entrepreneurial activity, and whether these effects are consistent across countries. Using original data from a representative sample of 10,000 individuals and from more than 300 open-ended interviews in 10 countries, this article provides some suggestive evidence that government intervention aimed at enhancing the underlying environment of entrepreneurial decisions may be more effective than intervention …

Capital Accessibility, Gender, And Ethnicity: The Case Of Minority Women-Owned Firms, Leyland M. Lucas

New England Journal of Entrepreneurship

Minority women continue to make significant gains in economic activity, particularly as entrepreneurs through the creation of small businesses. Despite this increased role in small business activity and an admirable rate of success, minority women-owned businesses continue to experience problems in acquiring capital. This difficulty, which some have attributed to discriminatory practices, forces a large number of these businesses to rely on governmental support programs for assistance in meeting their capital needs. Building on the idea that things are not as simple as commonly presented, a case is made that access to capital for women-owned businesses is affected by a …

From The Editors, Herbert Sherman, Joshua Shuart, Laurence Weinstein

New England Journal of Entrepreneurship

No abstract provided.

New England Journal Of Entrepreneurship, Spring 2006

New England Journal of Entrepreneurship

No abstract provided.

From The Associate Editors, Joseph E. Levangie, Miles Davis, Barry Armandi, Pamela Hopkins, Daniel James Rowley, Gerry W. Scheffelmaier

New England Journal of Entrepreneurship

No abstract provided.

Growth Intentions Of Owner-Managers Of Young Microfirms, Rolland Lebrasseur, Huguette Blanco, John L. Dodge

New England Journal of Entrepreneurship

A survey of young microfirms was conducted to investigate their growth intentions. The findings confirm the distinct profiles of four types of firms categorized on the basis of current and future employment: Lifestyler, Entrepreneur, Manager, and Mover. They differ in terms of the owner’s perceptions of the desirability and practicality of growing their firm, and with respect to the moderating variables of industry affiliation, business location, and investment level. Research issues and service implications for business support agencies are identified.

The Embedded Entrepreneur: Recognizing The Strength Of Ethnic Social Ties, Ed Chung, Kim Whalen

New England Journal of Entrepreneurship

This article is premised on the idea that social networks represent an important, but often overlooked, unit of analysis in management and entrepreneurship studies. The concept of embeddedness, emphasizing the significance of social relationships, is of particular relevance as more and more frequently minorities and immigrants engage in small businessownership. This article borrows from the ethnicity and social network traditions, and offers that an analysis of the ethnic homogeneity of an entrepreneur’s strong and weak social ties would be fruitful in gauging entrepreneurial success.

The Often-Neglected Term In The Entrepreneurial Equation—The Purchase Order, Deaver Brown, Joseph E. Levangie

New England Journal of Entrepreneurship

Many entrepreneurs are enthralled with their company’s technologies, products and potential markets. Invariably these emerging ventures present bedazzling business plans with industry-wise vernacular, detailed market research, and sophisticated financial spreadsheets. They often flaunt their “optimized business models.” Investors, however, typically want to know when and how the sales will start meeting the Plan. “Where’s the purchase order?” is the refrain. In this article, our “Practitioner’s Corner” associate editor Joe Levangie collaborates with a long-time colleague, Deaver Brown, to address how businesses should “make sales happen.” Levangie warns that Brown’s elitist education (Choate, Harvard College, Harvard Business School) should not be …

From The Editors, Herbert Sherman, Joshua Shuart, Laurence Weinstein

New England Journal of Entrepreneurship

No abstract provided.

Simplified Data Analytics For The Accurate Evaluation Of A New Venture’S Market Potential, Michael D. Mattei, Stephen Hellebusch

New England Journal of Entrepreneurship

This article examines the creation of an accurate market projection designed with easy-to-use, cost-effective data analytic techniques. Many of the techniques explored are derived from the subdisciplines of decision support and data warehousing found in the information technology arena. Two significant contributions are presented: a simple mathematical technique that eliminates the need for heuristics, and the simplification of the process to the point where no computer or sophisticated statistical analysis is needed.

Harry F. Byrd, Jr. School Of Business, Institute For Entrepreneurship: A Concept Paper That Became A Reality, Miles K. Davis

New England Journal of Entrepreneurship

The Harry F. Byrd, Jr. School of Business at Shenandoah University engaged in an intense planning process in the fall of 2004. In addition to clarifying its mission and strategic directions, the Byrd School clearly articulated its vision: to become recognized as a provider of individualized business education driven by entrepreneurial thinking, global understanding, and ethical practice. The development of the Institute for Entrepreneurship described in this article is a critical step in actualizing this vision.

Entrepreneurial Financing—Alternatives For Raising Capital, Paul Broude, Joseph E. Levangie

New England Journal of Entrepreneurship

Most entrepreneurs are continually concerned about their finances. Their companies perhaps not yet profitable, they may have a fear of “running out of dry powder.” These entrepreneurs often have fallen in love with their company’s technologies, products, and potential markets, but they require more resources. Invariably these emerging ventures shroud their fear of the grueling capital raising marathon by presenting voluminous business plans to potential investors. They often flaunt their “optimized business models.” Investors, however, typically want to know why the potential investment is such a good deal. The entrepreneur often wants guidance regarding what to say to whom in …

Entrepreneurs Test The Market: Got (Goat’S) Milk Soap?, Laurence Weinstein, Kelli Bodrato

New England Journal of Entrepreneurship

Sitting around the kitchen table one late-winter morning, Lisa and Rick Agee were discussing which direction to take their small, home-based business located in rural New Milford, Connecticut, over the next three to five years. The couple was making and selling “Goatboy” brand bathroom soap using goat’s milk as the key ingredient, and they were now trying to reconcile very different points of view on how to grow the business in early March 2006.

Founding Time And The Growth Of Firms, Garimalla R. Chandrashekhar, Raghavan Srinivasan

New England Journal of Entrepreneurship

This research recognizes the importance of the founding conditions of a firm. A new construct, Founding Time (FT) has been conceptualized, measured, and validated to represent one of the founding conditions of a firm. FT is then used to understand the phenomena of growth of firms.

The impact of FT on the growth of a firm has been examined. This examination reveals that there is a certain zone of FT, which seems to result in high firm growth rates. This research also establishes that there is an optimum for the FT of a firm.

A multimethod approach has been used …

Introduction: Special Issue On “Measurement Issues In Entrepreneurship Studies”, Jill Kickul, Norris Krueger, Sylvia Maxfield

New England Journal of Entrepreneurship

No abstract provided.

Entrepreneurial Hunger—Shall We Try Chinese?, Joseph E. Levangie

New England Journal of Entrepreneurship

Many entrepreneurs are able to manage their businesses within relatively contained and familiar geographical and cultural circles. With a world economy shrinking every day amid a flood of digital information, today’s entrepreneur is increasingly confronted with opportunities to consider new ways to secure vendors and recruit customers. Many unfamiliar possibilities emerge. Should the entrepreneur venture beyond “comfortable” surroundings to consider international connections? Specifically, what about China? How practical is this fetching business temptation of larger markets and lower-cost subcontractors? What are the social, trade, financial, and political issues? Should a “China strategy” be a true entrepreneurial offensive, or rather a …

Measure For Measure: Modeling Entrepreneurial Self-Efficacy Onto Instrumental Tasks Within The New Venture Creation Process, Jill Kickul, Robert S. D'Intino

New England Journal of Entrepreneurship

We examine the various components of entrepreneurial self-efficacy within the entrepreneurship literature from a measurement perspective. Two published entrepreneurial self-efficacy instruments are tested and compared. Additionally, we study how self-efficacy relates with many of the tasks and roles identified within the entrepreneurial new venture life-cycle. Our study suggests relationships between self-efficacy, perceived skills, and abilities to manage a new venture, and entrepreneurial intentions to start a new venture. We discuss relationships between entrepreneurship research and university teaching and make specific suggestions on how further work on improving measurement in entrepreneurship will benefit both research and teaching effectiveness.

New England Journal Of Entrepreneurship, Fall 2005

New England Journal of Entrepreneurship

No abstract provided.

Developing And Validating A Construct Of Entrepreneurial Intensity, Jianwen Liao, Patrick J. Murphy, Harold P. Welsch

New England Journal of Entrepreneurship

In this article we define, validate, and propose a construct of entrepreneurial intensity, or the degree of entrepreneurship in firms. First, in defining the construct, we explore theoretical differences between entrepreneurial intensity and orientation in order to distinguish it. Second, we empirically validate a measure of entrepreneurial intensity using data based on a sample of 563 entrepreneurs. Third, we propose avenues for research on how entrepreneurial intensity distinguishes entrepreneurs and entrepreneurial action. Finally, we detail theoretical implications of using entrepreneurial intensity as an antecedent and outcome.

Creating A New Program In Entrepreneurship Education: A Case Study In Colombia, Kirk C. Heriot, Noel D. Campbell

New England Journal of Entrepreneurship

Entrepreneurship has been widely recognized as having greatly influenced the United States. Its influence has especially been documented over the past 20 years. Paralleling our societal interest in entrepreneurship has been increasing interest in entrepreneurship education. While our interest in entrepreneurship education has grown considerably over the past two decades, this field of study continues to have critics both within and outside of schools and colleges of business (Kuratko 2004). In spite of these criticisms, some researchers suggest that the United States is still far ahead of other regions of the world in terms of entrepreneurial education (Solomon et al. …

Preparing Your Business For Valuation, Margaret D. Nowicki, Eric E. Lewis, Jeffrey W. Lippitt

New England Journal of Entrepreneurship

There is a tremendous need for the valuation of small businesses. Oftentimes, small businessowners do not have the wherewithal to gather the data and keep it up to date for use in situations that require valuation. Formal valuations are necessary because they provide objective evidence of value, in contrast to value set by markets on which public companies are traded. This article focuses on some factors that impact the valuation of the business and will help small businessowners feel more comfortable talking with financial professionals about how the business might be valued.

Entrepreneurship Research Through Databases: Measurement And Design Issues, Karl Wennberg

New England Journal of Entrepreneurship

This article provides an account of how databases can be effectively used in entrepreneurship research. Improved quality and access to large secondary databases offer paths to answer questions of great theoretical value. I present an overview of theoretical, methodological, and practical difficulties in working with database data, together with advice on how such difficulties can be overcome. Conclusions are given, together with suggestions of areas where databases might provide real and important contributions to entrepreneurship research.

Entrepreneurship As Expectations Management, Steven E. Phelan

New England Journal of Entrepreneurship

Entrepreneurial profits flow from differences in expectations between buyers and sellers regarding the future value of resources. This article investigates whether differences in expectations can be influenced by an entrepreneur to produce greater profits. It is argued that there are several points in the entrepreneurial process where such interventions can occur and that the use of these techniques should be associated with superior wealth creation. The article also explores the ethical implications of influencing stakeholders in this way.

Does My Business Need A Human Resources Function? A Decision-Making Model For Small And Medium-Sized Firms, Golbou Ghassemieh, Elizabeth "Liz" Thach, Armand Gilinsky Jr.

New England Journal of Entrepreneurship

The questions of when and what types of human resource (HR) support are needed tend to be unanswerable for small and medium-sized enterprises (SMEs). This article addresses this gap in the strategic HR literature. Hiring, training, employee retention/satisfaction, wages and benefits programs, and worker’s compensation insurance are important to SMEs seeking to build strong capabilities and resources and to increase their competitive advantage. This article presents an analysis of the existing HR literature for SMEs. It introduces a decision model to help SMEs choose a cost-effective HR strategy, listing a range of options from hiring the HR function to electronic …

From The Editors, Laurence Weinstein, Joshua Shuart, Christopher Sheehan, Joseph E. Levangie

New England Journal of Entrepreneurship

No abstract provided.

New England Journal Of Entrepreneurship, Spring 2005

New England Journal of Entrepreneurship

No abstract provided.

Goatboy Soaps: From Itch To Concept To Execution, Laurence Weinstein, Lisa Agee, Rick Agee

New England Journal of Entrepreneurship

Lisa and Rick Agee of New Milford, Connecticut, are in their second full year of trying to turn their lifelong dream of being financially independent from corporate life into a reality.They are placing their bets on their product line of goat’s milk based soap products (www.Goatboy.us). Goat’s milk is said to have important skin benefits for the user over commercially made bar soap products such as Dove, Ivory, Dial, Olay, Zest and Irish Spring.

A System Dynamics Approach To Assessing Public Policy Impact On The Sustainable Growth Rate Of New Ventures, Jeff W. Trailer, Kuau Garsson

New England Journal of Entrepreneurship

The growth of firms is fundamentally based on self-reinforcing feedback loops, one of the most important of which involves cash flow. When profit margin is positive, sales generate cash, which may then be reinvested to finance the operating cash cycle. We analyze simulations of a sustainable growth model of a generic new venture to assess the importance of taxes, and regulatory costs in determining growth. The results suggest that new ventures are particularly vulnerable to public policy effects, since their working capital resource levels are minimal, and they have few options to raise external funds necessary to fuel their initial …

Collecting Oral Histories For Entrepreneurship Research, Brian Mckenzie

New England Journal of Entrepreneurship

Oral history collections can offer a wealth of detailed information for entrepreneurship researchers. The stories that entrepreneurs tell provide researchers with insight into both perspective and into substantive issues of entrepreneurial behavior.

The life stories of entrepreneurs offer students of entrepreneurship insight into both the explicit and the tacit knowledge of working entrepreneurs.

Everything You Always Wanted To Know About Ipos* But Were Afraid To Ask, Joseph E. Levangie

New England Journal of Entrepreneurship

Many entrepreneurs want to reach high to the heavens to achieve unlimited success. These hardworking, often underappreciated, venturers often crave fame and fortune as they strive to create their personal business legacy. One strategic path many have wandered down is that of the Initial Public Offering (IPO), whereby shares of the company are sold to the public. The IPO has many strong attractions. Large amounts of capital can be brought into the company.The company’s stock can be used as currency to acquire other companies. Early investors realize a good ROI. Employees can perceive real value in their stock options. Customers, …