Marshaling Resources to Form Small New Ventures: Toward a More Holistic Understanding of Entrepreneurial Support

Abstract

This article makes two contributions to our understanding of the core entrepreneurial activity of assembling resources to pursue an opportunity. First, a conceptual framework is presented to organize the research on resource mobilization. Second, a study is presented based upon interviews with a random sample of 48 entrepreneurs to identify the supporters whom the entrepreneurs considered to have been key to their success and the resources obtained from these individuals. Results indicate that maximizing the overall effectiveness of resource combinations is a complex undertaking involving trade-offs between the quantity and quality of available resources and the efficiency versus effectiveness of supporters.

How Exactly Do Networking Investments Pay Off? Analyzing the Impact of Nascent Entrepreneurs Networking Investments on Access to Start-Up Resources

“…If we combine these conclusions with other propositions in the field, four main categories of resources that nascent entrepreneurs may obtain via social contacts emerge: (i) financial capital (e.g., Casson & Della Giusta, 2007;Hanlon & Saunders, 2007); (ii) guidance, information and knowledge (e.g., Yoo, 2000;Liao & Welsh, 2005); (iii) social or emotional support (e.g., Liao & Welsh, 2005;Reynolds, 2007); and (iv) contacts with potential customers, investors or consultants (e.g., Aldrich, 1999;Aldrich, Rosen & Woodward, 1987).…”

“…To meet the requirements associated with fulfilling these tasks, entrepreneurs need many different resources, which they usually do not have in sufficient quantity or with sufficient quality. Consequently nascent entrepreneurs have to mobilize additional resources (Aldrich, 1999;Yoo, 2000;Hanlon & Saunders, 2007), of which social networks are seen as the major source (Starr & Mc Millan, 1990;Aldrich, 1999;Greve & Salaff, 2003;Hanlon & Saunders, 2007;Bowey & Easton, 2007;Casson & Della Giusta, 2007). As posited in entrepreneurship theory and research, the variety of resources nascent entrepreneurs mobilize through their networks is considerable.…”

Towards a new framework for SMEs success: a literature review

“…Government activities, both directly and indirectly, influence business activity and are a crucial resource to small businesses (Fan, 2003;Hanlon and Saunders, 2007;Peng and Luo, 2000). The impact of government policies on the performance of small businesses is well documented and there is general agreement that government support is a necessary condition to successfully foster SME development and success (Adesua, 2006;Bridge et al, 2003;Castel-Branco, 2003;Hart et al, 2000;Okpara and Wynn, 2007;Parker, 2000;Smallbone and Welter, 2001a;Storey, 2000;Swierczek and Ha, 2003).…”

University Environment and Student Entrepreneurship: The Role of Business Experience and Entrepreneurial Self-Efficacy

“…Access to various resources is a basic requirement for starting a business [Hanlon, Saunders, 2007;Semrau, Werner, 2014]. An entre-…”