Southern University College of Business E-Journal
Stages of Entrepreneurship in the International Arena: The Role of Access to Capital and Developmental Support
Background and Objective: Research addresses shortcomings in studies between a mature and developing economy within stages of development. Prior research has largely been homogenous with emphasis on overall development by country. This research isolates selected countries and stage – intentions, early stage, and established – of development. The main objective is to measure access to capital and developmental support in each stage of entrepreneurial development. Methods: The model considers four independent variables that measure financing, infrastructure, openness of the economy, and governmental support. A change variable isolates effects before and after the 2008 Financial Crisis. Secondary data were obtained from Global Enterprise Monitor (GEM) and analyzed by regression analysis for years 2001-2020. Results: Access to capital was a positive variable in the model, with the largest coefficient observed in early stage entrepreneurship for each level of economic development. Governmental support was inversely correlated. Conclusions: Findings indicate that financial access is crucial in early stages of development, while governmental support appears to have unintended consequences of stalling entrepreneurial development. Contribution / Value: The value of the research extends prior studies in isolating the significance of the model in predicting each stage of entrepreneurship, but also in differentiating mature economy from developing economy.
Boozer, Benjamin B. Jr.
"Stages of Entrepreneurship in the International Arena: The Role of Access to Capital and Developmental Support,"
Southern University College of Business E-Journal: Vol. 17:
1, Article 3.
Available at: https://digitalcommons.subr.edu/cbej/vol17/iss1/3