An examination of the determinants of entrepreneurship at the regional level:the case of East Midlands region

Despite the importance of new firms to the economy, determinants of start-ups have mainly been examined at a country level and discussion of regional entrepreneurial activity has received less attention. Since there are significant variations in entrepreneurship rates across and within countries, such an investigation at a regional level would help in gaining an in depth understanding of the impact of the individual level resource endowments and neighbourhood characteristics on an individual’s decision to engage in entrepreneurial activity. The main aim of the thesis is to explore various theories of entrepreneurship and develop integrated frameworks for examining the determinants of entrepreneurial activity at a neighbourhood level in the East Midlands region in England. The specific objectives of the thesis are to examine how the individual level resources and the neighbourhood characteristics: (i) combine to influence an individual to engage in the different stages of the entrepreneurial process, (ii) influence natives and migrants to engage in start up activity and (iii) influence women and men to become self-employed and ambitious entrepreneurs. In terms of the methodology, the empirical analysis is based on two databases combined: 2006 to 2009 GEM East Midlands region and the English Index of Multiple Deprivation dataset. Based on the critical review of the literature on entrepreneurship the thesis develop theoretical frameworks which led to formulate hypotheses related to the differentiated impact of both individual and neighbourhood level factors on the propensity of an individual to be involved in entrepreneurial activity. The findings indicate that the determinants of entrepreneurial activity vary with human, financial and the local environment factors affecting the entrepreneurial process. Finally, the thesis calls for caution when developing and applying generic and specific policy measures aimed at promoting entry into entrepreneurship.

Firm dynamics and job creation in the United Kingdom:1998–2013

This article is motivated by a very simple question – ‘what types of firms create the most jobs in the UK economy?’ One popular answer to this question has been High-Growth Firms (HGFs). These firms represent only a small minority – the ‘Vital 6%’ – of the UK business population yet, but have a disproportionate impact on job creation and innovation. We re-visit the discussion launched by the 2009 National Endowment for Science, Technology and the Arts (NESTA) reports, which identified the 6% figure and, using more recent data, confirm the headline conclusion for job creation: a small number of job-creating firms (mostly small firms) are responsible for a significant amount of net job creation in the United Kingdom. Adopting our alternative preferred analytical approach, which involves tracking the growth performance of cohorts of start-ups confirms this conclusion; however, we find an even smaller number of job-creating firms are responsible for a very significant proportion of job creation. We conclude by considering the question – ‘what are the implications for policy choices?’.

Entrepreneurship in the neighborhood:shifting patterns of economic activities in residential neighborhoods in five dutch cities

Cities are oftentimes seen as undergoing a process of "emergence" in the "new economy." However, this process has largely remained empirically underdetermined. This article examines the intra-city geography of emerging businesses in newly dominant sectors of the urban economy. The change in dominant sectors coincides with a shift towards small- and medium-sized businesses, creating new economic opportunities for urban residential areas. The residential neighborhood is introduced as a place where supply and demand side drivers operate to attract or limit such new economic activity. Allen Scott's perspective of the cognitive-cultural economy is used to analyze which neighborhoods are flourishing sites of the cognitive-cultural sectors. His perspective on industries that are on the rise in urban environments and their growth potential proves very valuable. Social demographic characteristics on the level of the neighborhood are used as predictors of the composition of the local economy. The analyses show that in particular wealthy, gentrified neighborhoods are more prone than others to becoming "hubs" of the cognitive-cultural economy. However, disadvantaged neighborhoods may under certain conditions serve as incubators for business start-ups as they offer low-rent office spaces. This has important consequences for their future economic growth potential as well as the distribution of successful businesses in the city. © 2013 Urban Affairs Association.

The financial stability and access to financing of SMEs in Hungary

The present study was prepared within the framework of cooperation between the Competitiveness Research Centre, operating within the Institute of Business Economics of Corvinus University of Budapest, and the National Association of Entrepreneurs, based on a commission from the latter. Th e goal of the study was to survey the self-financing capabilities and borrowing opportunities of majority Hungarian-owned small and medium-sized enterprises (SMEs), and to identify potential problems. The results of the research revealed that the high proportion of owner’s equity in the financing structure is not due to difficulties with borrowing, but because enterprises that cover their fi nancing primarily from their own resources have other financing opportunities at their disposal. Although general satisfaction with banks shows a diminishing tendency, it can still be interpreted favourably. The majority of companies have not encountered serious borrowing difficulties. With regard to the system of competitive tenders, company managers have sensed some improvement, but general satisfaction is still lacking. Although the research results suggest that the primary obstacle to growth in 2013 was not the lack of credit or external funding, it is important to emphasize that start-ups, young enterprises and micro-enterprises, which struggle the most with financing worries, were not represented in the analysed database.

A vállalkozói hajlandóság vizsgálata a női hallgatók körében Magyarországon (Research of entrepreneurial intentions of the Hungarian female students)

Köztudott, hogy a nők lényeges szerepet töltenek be a gazdasági életben, ezért fontos megvizsgálni azt, hogy melyek az ösztönző és az akadályozó tényezők a vállalkozásindításuk során. Egy 2011-es nemzetközi kutatás többek között a magyar női hallgatók vállalkozói hajlandóságát befolyásoló tényezőket vizsgálta. A kutatás többek között a motivációs tényezőkre, a személyiségjegyekre, valamint a korlátozó tényezőkre irányult. A vizsgálat eredményei azt igazolták, hogy a női vállalkozói létet nemcsak a pénzügyi indítékok vezérelték, hanem a belső tényezők is. Elsősorban az egyéni tényezők jelentették az akadályokat számukra, a szervezeti-környezeti korlátok szerepe kisebb jelentőséggel bírt. A vizsgálat eredményei többnyire a szakirodalmi adatokat igazolták. _____ It is widely known, that women play an important role in the economy, which makes the determination of motives and obstacles during business start-ups inevitable. Hungarian female students were surveyed during an international study in 2011 to determine the factors of entrepreneurial intentions. The survey included among other factors the motives for self‐employment, the personal characteristics and the barriers they faced. Results revealed that primary motivations for females during business start-ups were not only monetary motives, but also intrinsic factors. Problems faced by Hungarian female students were mainly individual; the organizationalenvironmental ones had lower importance. Results on motives and barriers were mostly consistent with the authors’ literature findings.

Investing in the Homeland: Foreign Assets and Patterns of Immigrant Economic Incorporation

This dissertation consists of three separate studies that examine patterns of immigrant incorporation in the United States. The first study tests competing hypotheses derived from conflicting theoretical frameworks−transnational perspective and cross-national framework− to determine whether transnational engagement and incorporation are concurrent processes among Chinese, Indian, and Mexican immigrants. This study measures transnational engagement and incorporation as home and home country asset ownership using multi-panel, nationally representative data from the New Immigrant Survey (NIS) collected in 2003 and 2007. Results support a cross-border framework and indicate that transnational asset ownership decreases among all immigrant groups, while U.S. asset ownership increases. Findings from this study also indicate that due to disadvantaged pre-migration SES and low human capital, Mexican immigrants are less likely than other immigrants to own home country assets during the year after receiving their green card.

The second study examines the doubly disadvantaged position of elderly immigrants in the U.S. wealth distribution by applying the life course perspective to the dominance-differentiation theory of immigrant wealth stratification. I analyze elderly immigrant wealth in respect to U.S.-born seniors and younger immigrant cohorts using two data sets: the Survey of Income and Program Participation (SIPP) and the New Immigrant Survey (NIS). The Survey of Income and Program Participation (2001 to 2005) is a nationally representative survey of U.S. households. The first series of analyses reveals a significant wealth gap between U.S.- and foreign-born seniors which is most pronounced among the wealthiest households in my sample; however, U.S. tenure explains much of this difference. The second series of analyses suggests that elderly immigrants experience greater barriers to incorporation compared to their younger counterparts.

In the third study, I apply a transnational lens to the forms-of-capital and opportunity structure models of entrepreneurship in order to analyze the role of foreign resources in immigrant business start-ups. I propose that home country property use represents financial, social, and class resources that facilitate immigrant entrepreneurship. I test my hypotheses using survey data on Latin American immigrants from the Comparative Immigrant Entrepreneurship Project. Findings from these analyses suggest that home country asset ownership provides financial and social capital that is related to an increased likelihood of immigrant entrepreneurship.

Technology is Set to Change Real Estate Forever

Major developments in the technological environment can become commonplace very quickly. They are now impacting upon a broad range of information-based service sectors, as high growth Internet-based firms, such as Google, Amazon, Facebook and Airbnb, and financial technology (Fintech) start-ups expand their product portfolios into new markets. Real estate is one of the information-based service sectors that is currently being impacted by this new type of competitor and the broad range of disruptive digital technologies that have emerged. Due to the vast troves of data that these Internet firms have at their disposal and their asset-light (cloud-based) structures, they are able to offer highly-targeted products at much lower costs than conventional brick-and-mortar companies.

Fatores que influenciam o uso do marketing de guerrilha nas empresas em Portugal

Atualmente vivemos numa era em que a publicidade nos rodeia através de várias formas e onde as empresas esforçam-se cada vez mais para tornar eficaz a mensagem que pretendem passar. O uso de métodos convencionais, como a televisão, rádio, ou até outdoors, está a tornar-se pouco eficaz. Em muito pouco tempo, nos últimos vinte anos, a Internet mudou a nossa forma de viver, sendo até comparado ao Renascimento e à Revolução Industrial. As gerações mais recentes nasceram rodeadas deste “boom” publicitário, o que as tornou imunes. De forma a contornar este problema, surge Levinson em 1989 onde apresenta uma forma de minimizar este efeito e ao mesmo tempo proporcionar a que pequenas empresas tenham capacidade de competir com as maiores (Levinson, 2007). Assim, o marketing de guerrilha caracteriza-se por estar normalmente associado a implementações de baixo custo, que por vezes são irrepetíveis, pois conseguem alcançar um impacto “wow” significativo junto do grande público (Oliveira & Ferreira, 2013). O presente estudo contribui para a literatura do marketing de guerrilha existente, realizando assim uma compilação acerca do desenvolvimento desta temática até aos dias de hoje. De forma a perceber quais são os fatores que influenciam o uso do marketing de guerrilha pelas empresas portuguesas, foram inquiridas 140 empresas de todo o país, através de um questionário com base no estudo desenvolvido por Overbeek (2012). Através desta investigação exploratória, numa área ainda pouco explorada em Portugal, até à data, em especial a nível académico, “verificou-se que existe uma grande procura por este tipo de ferramentas não convencionais, tanto que, verificou-se que 86,4% da amostra já presenciou uma ação de guerrilha, no entanto apenas 36,4% admite já ter implementado na sua empresa, o que levanta a questão do porquê de uma taxa tão reduzida de utilização deste tipo de abordagem não convencional (Almeida & Au-Yong-Oliveira, 2015, p.1). A explicação poderá estar ligada à grande aversão à incerteza que existe em Portugal (Hofstede, 2001), e ao receio da mudança e da experimentação de novos produtos em Portugal (Steenkamp et al., 1999). Fatores que não irão mudar durante décadas, dado o tempo que demora a mudar culturas nacionais (Hofstede, 2001). Verifica-se também que na amostra das 140 empresas se destacam pessoas formadas (ao grau de licenciatura e mestrado) em Marketing (18,7% da amostra), Design (15,7%), Gestão (10,4%) e Tecnologias da Informação e Comunicação (7,9%). Pode-se concluir que são as quatro áreas fundamentais, ou pelo menos a necessidade existe em ter conhecimento nestas quatro áreas atualmente. Devido à [pequena] dimensão das empresas, um colaborador que tenha estas quatro competências tem uma vantagem competitiva face aos restantes, no que toca a hard skills.

Beyond the bottom line: redefining the value of design in SME formation

For SMEs to operate in the complex and globalised economic landscape of today engaging with innovation can sustain competitive advantage. Within Design Management, design is being increasingly posited as a strategic resource to facilitate the absorption of new design resources and leverage design knowledge in ways that support SMEs through such economic pressures. Evidencing the relationship between design and economic performance is complex, leading to extensive current research and industry efforts to show how design adds economic value. Despite the value of such efforts, it is important to recognise that innovation means different things to different organizations, especially for start-ups and SMEs. Within the rising tide of design-led innovation, there is a gap being explored in how design can effectively capture and evaluate its contribution within the complex and diverse situations of business development it engages. In seeking to address this gap, this paper presents findings from research undertaken within Design in Action (DiA), an AHRC-funded knowledge exchange hub. Presenting DiA as a single case study, the paper offers methodical reflection on five case example start-up businesses funded by DiA in order to explore the value that design-led innovation approaches offered in their formation.

Analisi dei microfondamenti della strategia, della struttura, dei processi, delle persone e della tecnologia di GELLIFY. Come crescere rimanendo agili.

Il mercato col tempo si è reso sempre più dinamico e ha richiesto alle aziende per sopravvivere una sempre maggiore capacità di innovare e adattarsi. Per rispondere a queste esigenze sono stati ridisegnati nuovi modelli di innovazione, il più famoso tra questi è l’Open Innovation. GELLIFY nasce nel 2016 per favorire l’Open Innovation in Italia, il suo stesso modello è basato sul concetto di Ecosistema e su una strategia win-win tra tutti i soggetti partecipanti: investitori, Start-ups, Corporate. Grazie a questa brillante idea l’azienda ha raggiunto in pochi anni più di 200 dipendenti con tre sedi (Italia, Middle East, Iberia) e un fatturato superiore agli 11 milioni di euro. Per sostenere la crescita e mantenersi agili, GELLIFY, ha dovuto effettuare dei grandi cambiamenti strutturali. Lo scopo di questo elaborato è analizzare GELLIFY combinando insieme la teoria dei microfondamenti con la stella di Galbraith rivisitata da Mckinsey (in cui il sistema premiante è stato incorporato dentro i processi ed è stato dato un ruolo a se stante alla tecnologia). Tutti i diversi elementi sono stati analizzati studiando ciò che l’azienda ha fatto o sta facendo in merito e soprattutto analizzando il percepito dei dipendenti a riguardo, raccolto attraverso l’utilizzo di interviste semistrutturate ai dipendenti e ad alcuni manager. Infine, tutti questi elementi sono stati collegati tra loro studiando come questi incidano sull’espressione delle capacità dinamiche degli individui facendo emergere una carenza nella gestione delle risorse umane dell’azienda. Per risolvere questo problema si è ipotizzato di restringere il campo della soluzione al processo di Onboarding, ritenuto un tassello fondamentale per l’employeer branding e per l’engagement dei dipendenti. La soluzione è stata descritta in maniera dettagliata considerando anche gli elementi presenti in GELLIFY che possono favorirne l’attuazione ma anche evidenziando i fattori critici e come gestirli.

Fast start finance. Um compromisso internacional para combate às alterações climáticas

Dissertação apresentada para cumprimento dos requisitos necessários à obtenção do grau de Mestre em Ciência Política e Relações Internacionais na área de especialização em Globalização e Ambiente

Business development in Siemens global shared services delivery center Portugal

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics

The global radar applied to the precision farming sector

The case describes the development of MyFARM’s internationalization plan, a service of Deimos Engenharia, under the GloCal Radar. This space engineering company hired Lisbon Consulting Company to undertake the project to overcome its lack of market orientation. The consultants’ analysis revealed Stevens County, Kansas, as the market with the highest potential for MyFARM. A suitable entry strategy and adaptation of the service for the local market was proposed. The case culminates with the Board of Directors discussing the viability of implementing the consultants’ recommendations to start diversifying their sources of revenue streams.

The ‘Dragon’ and the ‘Elephant’ and Global Imbalances

Global financial imbalances receive a great deal of attention in relation to the emerging economies China and India. This chapter analyzes this relation, but argues first that they are actually re-balancing the existing structural inequality in the world economy, in which for so long only the Western economies and Japan dominated economic growth and international trade, moving towards a more multi-polar world economy. China in particular, with its rapid export-led growth, has indeed been part and parcel of the emerging financial imbalances, feeding the ‘over-consumption’ in the US and using its accumulating international reserves in buying US-treasury bonds. Finance therefore is moving to the economy that ‘least needs it’. This imbalance can only be redressed if the US (and some of the other OECD countries) start saving more and consuming less (and become more competitive), with China further stimulating domestic demand (which it already did in response to the crisis). China and to a lesser extend India, as emerging large economies and a more important roles in global markets, also contribute to new imbalances, such as the influence of the insatiable appetite for resources (carbon-hydrates, minerals and bio-mass) of these relatively energy-inefficient economies, while at the same time attracting an increasing share of FDI towards them. The chapter finally raises the issue that these three mentioned imbalances make it more difficult for developing countries (except for those who are resource-rich) to get access to the necessary development finance.

Local-global splitting for spatiotemporal-adaptive multiscale methods

We present a novel spatiotemporal-adaptive Multiscale Finite Volume (MsFV) method, which is based on the natural idea that the global coarse-scale problem has longer characteristic time than the local fine-scale problems. As a consequence, the global problem can be solved with larger time steps than the local problems. In contrast to the pressure-transport splitting usually employed in the standard MsFV approach, we propose to start directly with a local-global splitting that allows to locally retain the original degree of coupling. This is crucial for highly non-linear systems or in the presence of physical instabilities. To obtain an accurate and efficient algorithm, we devise new adaptive criteria for global update that are based on changes of coarse-scale quantities rather than on fine-scale quantities, as it is routinely done before in the adaptive MsFV method. By means of a complexity analysis we show that the adaptive approach gives a noticeable speed-up with respect to the standard MsFV algorithm. In particular, it is efficient in case of large upscaling factors, which is important for multiphysics problems. Based on the observation that local time stepping acts as a smoother, we devise a self-correcting algorithm which incorporates the information from previous times to improve the quality of the multiscale approximation. We present results of multiphase flow simulations both for Darcy-scale and multiphysics (hybrid) problems, in which a local pore-scale description is combined with a global Darcy-like description. The novel spatiotemporal-adaptive multiscale method based on the local-global splitting is not limited to porous media flow problems, but it can be extended to any system described by a set of conservation equations.