Does entrepreneurship ecosystem influence business re-entries after failure?
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Does entrepreneurship ecosystem influence business re-entries after failure? Maribel Guerrero 1,2
& Jorge
Espinoza-Benavides 3
# The Author(s) 2020
Abstract Previous studies have found a close relationship between exit/failure decisions and entrepreneurial/organisational characteristics. In the same line, entrepreneurship literature has recognised that the context matters in any entrepreneurial process, including “exit,” “failure” or “re-entry.” This manuscript proposes a conceptual framework to identify the elements of the entrepreneurial ecosystem that foster or impede the re-entry into entrepreneurship after a business failure. By reviewing the accumulation of knowledge, we identified the individual, the organisational, and the contextual conditions that influence the trajectory of an individual who decides to re-enter after a business failure. This manuscript provides a better understanding of the critical role of agents involved in the entrepreneurial ecosystem. A provocative discussion and implications emerge for this study in order to reduce individual barriers and unfavourable social norms towards business failure. Keywords Human capital . Social capital . Institutional theory . Entrepreneurial
ecosystems . Re-entrepreneurship . Business failure
* Maribel Guerrero [email protected] Jorge Espinoza-Benavides [email protected]
1
Faculty of Economics and Business, Universidad del Desarrollo, Av. Plaza 680, San Carlos de Apoquindo, Las Condes, Santiago de Chile, Chile
2
The Northumbria Centre for Innovation, Regional Transformation and Entrepreneurship (iNCITE), Newcastle University Business School, Northumbria University, Sutherland Building 2 Ellison Pl, Newcastle upon Tyne, United Kingdom
3
Facultad de Ciencias Económicas y Administrativas, Universidad Católica de la Santísima Concepción, Alonso de Ribera, 2850 Concepción, Chile
International Entrepreneurship and Management Journal
Introduction The entrepreneurial process consists of several stages that are configured through the combination of a series of individual, organisational, and contextual factors (DeTienne, 2010; Shepherd et al., 2019). In the last years, due to the positive effect of entrepreneurship on economic growth, academia and policymakers have paid their interest on the entrepreneurial ecosystem’s pillars (Stam, 2015; WEF, 2014). Previous studies have explored some contextual conditions that foster highgrowth based entrepreneurship1 (Acs et al., 2017a and b; Brown & Mason, 2017; Mason & Brown, 2013, 2014). Notably, the Silicon Valley model of entrepreneurship has captured not only the imagination of the public, but also the attention of the public policy community throughout the world who wish to emulate said model, and the focus of scholars seeking to understand it (Audretsch, 2019). However, this model presents several limits when addressing the most compelling contemporary economic and social problems across the globe. By looking into the existing literature, it is possible to identify the particular condit
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