Entrepreneurial Inclination and Entrepreneurship in Hungary and in Europe

The lecture has two parts. The first part – based upon Eurobarometer data - briefly investigates the proportion and social characteristics of potential entrepreneurs in European comparative perspective. It proves that the Hungarian data are close to the European average. The second part – based on Hungarian panel data (1992-2007) - examines the predictive force of entrepreneurial inclination upon future entrepreneurial career and well-being. The results reveal that potential and actual entrepreneurship have strong social similarities and lasting connections despite the great volatility of both. Entrepreneurial inclination and more concrete plans have influenced the entrepreneurial career chances with nearly identical force, without cancelling each other’s effect. Entrepreneurial motivation has also to do with subjective well-being. The “push” factors of initial dissatisfaction with work and material conditions have lost their significance while the connection between entrepreneurial inclination and satisfaction with future perspectives persists in the longer run. The matrix of original motivation and further career provides a typology of four economic actors: that of “conscious” employees, “blocked”, “forced” and „conscious” entrepreneurs.

Family Business Succession in Austria – Satisfaction and the Incumbent-successor Relationship

The transfer of businesses contributes to the dynamics and the development of the economy in Austria. Successful transfers generate numerous positive impacts. Securing both employment and investment, creating new jobs and stimulating growth are some of these effects. Failed transfers can contribute to negative effects, including the loss of jobs and an economic slowdown. Over recent years the number of business handovers in Austria has been rising. The forecasts show that this number will remain high over the next few years. Between 2015 and 2024 more than 42,000 economically sound SMEs will face the challenge of finding an appropriate successor. This means that 26 % of all Austrian SMEs (excluding one-person businesses) and 29 % of all employees in these companies will be affected. The aim of this paper is to provide a multi-faceted discussion of the relevance of affective components in family business transfers. A “good” relationship between the successor and the departing owner fosters the success of a transfer. This relationship involves, among others, the willingness to share relevant information, openness and respect. The satisfaction (with the completed business transfer) is closely interrelated with the relationship between the successor and the departing owner. Consequently, we can assume that affective and emotional components can indeed shape the success of business transfers. Based on that, new future research opportunities are outlined.