Novice, Serial and Portfolio Entrepreneur Behaviour and Contributions

Résumé du livre

Broad characteristics, behavior, and performancecontributions relating to experienced serial and portfolio entrepreneurs areanalyzed in comparison to novice entrepreneurs with no prior business ownershipexperience. Data consisted of 354 firms owned by novice (200 firms), serial (66firms), and portfolio (88 firms) entrepreneurs in Scotland. Results indicate no significant difference among the three groups withregard to the mode of acquisition of equity stake, number of equity partners,current age, location of business, main industrial activity of the business, orwhether the business was a family firm. Significant differences are noted inthe characteristics and behavior of the entrepreneurs with regard to theirbusiness ownership experience. Further analyses show that portfolio entrepreneurs are more likely to bemotivated by the generation of wealth and exhibit higher levels of growth intheir own businesses. Additionally, they exhibit more diverse experiences andhave more resources than serial or novice entrepreneurs. Serial entrepreneursare concerned with independence and autonomy and have exited more businessesthan portfolio entrepreneurs. Conversely, novice entrepreneurs look for secure incomes and are hesitant tolose their independence in pursuit of rapid business growth. It is evident thatexperienced entrepreneurs offer more wealth creation prospects and accumulateseveral entrepreneurial resources, both of which are fundamental for thesuccess of a firm. (NEE).