ENTREPRENEURSHIP FACTORS AMONG DEVELOPED COUNTRIES AND EMERGING REGIONS

Main Article Content

Mark D Potts Joseph A Affholter Sydney Harless

Abstract

The paper contributes to the understanding of entrepreneurial activity by assessing the relative importance of eight entrepreneurial readiness factors across countries in different regions and stages of economic development. Drawing on the literature, this paper identifies eight principle national entrepreneurial readiness factors (NERFs) as (1) business freedom; (2) investment freedom; (3) investor protection; (4) property rights protection; (5) technological readiness; (6) innovation; (7) freedom from corruption; and (8) access to risk capital. NERF country data is subjected to a linear regression analysis for each factor’s influence on the sum of all eight factors which is called a country’s National Entrepreneurial Readiness Value (NERV). Six South East European countries, eight South American countries, ten South East Asian countries, and six West African countries are compared against one another and the benchmark of the four largest G7 economies. Results of this analysis are presented and show that investor protection, property rights protection, and freedom from corruption are the most impactful entrepreneurial readiness factors. These findings present future research implications of how these results link to endowments and relate to improving entrepreneurial readiness.

Article Details

How to Cite
Potts, M., Affholter, J., & Harless, S. (2021). ENTREPRENEURSHIP FACTORS AMONG DEVELOPED COUNTRIES AND EMERGING REGIONS. The South East European Journal of Economics and Business, 16(2), 82-100. Retrieved from https://journal.efsa.unsa.ba/index.php/see/article/view/1428
Section
Scientific and Professional papers: Economics and Business
Author Biographies

Mark D Potts, Central Michigan University

Mark D Potts, JD (corresponding author)
Director of Personal Financial Planning Program
College of Business Administration
Central Michigan University
Email: mark.potts@cmich.edu
Address: Sloan Hall 301
Mount Pleasant, Michigan, USA
ORCID: 0000-0002-7826-4693

Joseph A Affholter, Michigan State University

Joseph A Affholter, PhD
AgBio Innovation Hub Director
MSU Technologies
Michigan State University
Email: jaffholt@msu.edu
ORCID: 0000-0002-5406-7185

Sydney Harless, Central Michigan University

Sydney Harless, BSBA
Honors Student
College of Business Administration
Central Michigan University
Email: harle1s@cmich.edu
ORCID: 0000-003-1922-1527