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This work examines the role of new firm formation in regional economic development. While the focus is on Scotland, the strong policy orientation and comparative treatment mean that the issues covered have a much wider application and interest.
Drawing on studies and expertise from around the world, this book describes the transition from research to policy and covers the pre-requisites to successful new firm formation policies. At a time when a new firm formation is promoted by central and local government, business development agencies and the private sector, this book questions the economic dependence on small firms and explores the relevance of networking, information and advice.
This collection of essays the contribution of small businesses to economic development is assessed in a number of different localities.
Here Peter Johnson has put together a collection of his groundbreaking research. Now in one volume for the first time, it will be of great interest to those in every area of business and economics.
The spillovers in knowledge among largely college-educated workers were among the key reasons for the impressive degree of economic growth and spread of entrepreneurship in the United States during the 1990s. Prior 'industrial policies' in the 1970s and 1980s did not advance growth because these were based on outmoded large manufacturing models. Zoltan Acs and Catherine Armington use a knowledge spillover theory of entrepreneurship to explain new firm formation rates in regional economies during the 1990s period and beyond. The fastest-growing regions are those that have the highest rates of new firm formation, and which are not dominated by large businesses. The authors of this text also find support for the thesis that knowledge spillovers move across industries and are not confined within a single industry. As a result, they suggest, regional policies to encourage and sustain growth should focus on entrepreneurship among other factors.
New Business Formation and Regional Development provides an overview of the effects that new businesses have on regional development. The focus is on regions because geographical units of observation are much better suited for such an analysis than are industries. Regional growth is a complex process that involves large numbers of start-ups in diverse industries, firm exit, and growing and declining incumbent firms. The determinants of the effects that new business formation has in this complex process may be different from those factors that make individual start-ups succeed or a fail. After an introductory explanation, section 2 begins with a brief sketch of the extant research on this topic. Section 3 reviews the main theoretical approaches that provide insights and explanations, and combines them in a more diverse and comprehensive explanation of the effects of start-ups on development. This eclectic approach particularly highlights the competitive challenge that start-ups pose to incumbent firms and the important role played by the regional environment. Section 4 reports the available empirical evidence on the different effects that new business formation might have on regional development. The research ends with a discussion of policy implications in Section 5, and outlining important questions for further research in Section 6.
Often considered one of the major forces behind economic growth and development, the entrepreneurial firm can accelerate the speed of innovation and dissemination of new technologies, thus increasing a country's competitive edge in the global market. As a result, cultivating a strong culture of entrepreneurial thinking has become a primary goal throughout the world. Surprisingly, there has been little systematic research or comparative analysis to show how the growth of entrepreneurship differs among countries in various stages of development. International Differences in Entrepreneurship fills this void by explaining how a country's institutional differences, cultural considerations, and personal characteristics can affect the role that entrepreneurs play in its economy. Developing an understanding of the origins of entrepreneurs as well as the choices they make and the complexity of their activities across countries and industries are of central importance to this volume. In addition, contributors consider how environmental factors of individual economies, such as market regulation, government subsidies for banks, and support for entrepreneurial culture affect the industry and the impact that entrepreneurs have on growth in developing nations.
Introduces the terms, theories and practices in the fields of entrepreneurship and enterprise to look deeper into this phenomena. It covers the origins and development of entrepreneurialism, and addresses the drivers, barriers and evolution into new areas of business and economic activity.
When originally published in 1993 this book was one of the first to present a systematic comparison of small enterprises in both urban and rural areas in contemporary Britain. Key issues such as relative performance levels and the relevance of recent develoopments to the economy as a whole are discussed by well-known contributors. Throughout, insights derived from dialogues with real entrepreneurs are provided. An internatinal dimension is added with a comparative discussion of the problems of rurality suffered in many areas of North America and Europe, and the continuing effects of the recession of the late 80s and early 90s are also examined and important policy recommendations made.
Enterprise and entrepreneurship is of strong interest to policy-makers because new and small firms can be a key contributor to job and wealth creation. However this contribution varies spatially, with some areas in a country having new firm formation rates that are up to three or four times higher than others. The vast majority of these new firms begin in the geographical area in which the founder lives, works or was born emphasising that entrepreneurship is a local event. The book documents a diversity of research approaches to examining the regional determinants of entrepreneurship in countries as contrasting as India and Sweden. The Editors call is for scholars to better understand the long run factors that influence enterprise at the local and regional level. For policy makers the Editors challenge is for them to be much clearer about the targets for their policies. Is it new firms, new jobs, productivity and does it matter where these targets are delivered? This book was published as a special issue of Regional Studies.