Main street business owners: aging in plain sight

2022 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Nancy Forster-Holt
Keyword(s):  
Small Business ◽  
The United States ◽  
Business Owners ◽  
World Health ◽  
Small Business Owners ◽  
Content Type ◽  
Entrepreneurial Ecosystems ◽  
Main Street ◽  
Age In Place

PurposeAging is the most important social-demographic issue worldwide, supported by the initiatives of the World Health Organization (WHO) in its global strategy and action plan for aging and health (Rudnicka et al., 2020). The average age of business owners in most industrialized countries is on the rise. In the United States, fifty-one percent of small private businesses are owned by someone age fifty-plus (SBA Office of Advocacy, 2018).Design/methodology/approachThe authors shed light on small business owners, who age in place. The authors suggest that their importance as long-term actors in entrepreneurial ecosystems nor the issue of “Main Street churn” have not been meaningfully explored. They become embedded in their community and possibly stuck there in retirement. Understanding the risks they face offers an opportunity for academics and practitioners to provide insights for business owners, the next generation of the acquirer and advisors. The coronavirus disease 2019 (COVID-19) pandemic has elevated the status of many of these businesses from invisible (and perhaps taken for granted) to “essential” and amplified the co-dependence of business and the local economy.Findings The anticipated “silver tsunami” caused by the retirements of Main Street business owners is not a national and homogeneous wave. Rather, each wave will land on beaches locally. Small business owners age in place, and their importance as long-term actors in entrepreneurial ecosystems nor the issue of “Main Street churn” have not been meaningfully explored. They become embedded in their community and possibly stuck there in retirement.Originality/value The embeddedness of these owners – who likely have social connections, community identification and feelings of responsibility to the community directly impacts the places that they care deeply about – is often unquestioned. However, their retirements call for increased visibility within entrepreneurial ecosystems and translations of scholarly work from several kinds of literature into policy and practice.

Effects of parental entrepreneurial performance on the mode of entrepreneurial entry by the next-generation family members: evidence from an emerging economy

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sarah Watiri Muigai ◽  
Edward Mungai ◽  
S. Ramakrishna Velamuri
Keyword(s):  
Small Business ◽  
Family Business ◽  
Family Members ◽  
Business Owners ◽  
Small Business Owners ◽  
Next Generation ◽  
Content Type ◽  
Entrepreneurial Entry ◽  
Generation Family ◽  
Formal Employment

PurposeThe purpose of the paper is to examine the effects of perceived parental entrepreneurial rewards, or PPERs (i.e. the offspring's perception of the degree of parental success in entrepreneurship), on the corporate venturing (CV) mode of entrepreneurial entry and the interaction effects of family business involvement (FBI) and formal employment on the association between PPER and CV by the next-generation family members.Design/methodology/approachA survey was administered to a sample of 738 small business owners in Kenya; of which, 440 small business owners were selected because they grew up in a family business context. A probit model was used to examine the main and interaction effects.FindingsPPERs significantly influenced CV. FBI improves the positive relationship whereas formal employment reduces the effects of PPER on CV.Practical implicationsFamilies in business need to improve conversations with their children to include discussions concerning the intrinsic and extrinsic rewards of running a family business, which may shape not only the entrepreneurial entry path of their offspring but also the willingness to establish businesses that may grow and lead to continuity of the family business of origin.Originality/valueThe study investigates the effect of being embedded in a business family in shaping the CV mode of entrepreneurial entry by the next-generation family members who may not, on the one hand, find independent own founding an attractive option and for whom, on the other hand, the succession mode of entry may not be an option.

Introduction

2019 ◽  
pp. 1-20
Author(s):  
Courtney Lewis
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Structural Adjustment ◽  
Business Owners ◽  
Small Business Owners ◽  
Economic Stability ◽  
The Great Recession ◽  
Justice Movements ◽  
The Impact

This introduction describes how encouraging a diversity of small businesses can help support a Native Nation’s long-term economic stability, but goes further to demonstrate this uniquely through the eyes of the small-business owners themselves along with an in-depth examination of their local, national, and international contexts. In doing so, it describes how this book also addresses the ways in which Native Nations, by supporting small business resilience, are responding in politically and socioeconomically meaningful ways to settler-colonial economic subjugations. This introduction further describes how the book unpacks the layers of small-business complications specific to Native Nations and American Indian business owners while speaking to larger theoretical questions regarding the impact of small businesses in a global indigenous context. Debates regarding economic sovereignty versus economic power, measures of autonomy, land status, economic identity, fluctuating relationships with settler-colonial society, and the growth of neoliberalism (along with its accompanying “structural adjustment” policies) meet with specific practices, such as the implementation of guaranteed annual incomes, cultural revitalization actions, environmental justice movements, and the potentially precarious choices of economic development—issues that are exacerbated during times of economic precarity, such as the Great Recession.

Comparing small business owner and voter beliefs regarding constraints on business growth

2020 ◽  
Vol 9 (3) ◽  
pp. 329-341
Author(s):  
Trey Malone ◽  
Antonios M. Koumpias
Keyword(s):  
Small Business ◽  
Policy Design ◽  
Business Owners ◽  
Entrepreneurial Activity ◽  
Primary Data ◽  
Small Business Owners ◽  
Business Owner ◽  
Linear Regression Models ◽  
Small Business Owner ◽  
Content Type

PurposeThis research note compares voter opinions regarding small business entrepreneurial activity to opinions of small business owners and links any divergence in perceptions to realized suboptimal entrepreneurial growth policy.Design/methodology/approachPrimary data collection via best–worst scaling and estimation of linear regression models.FindingsResults suggest that small business owners are less concerned about issues such as foreign competition, estate/death taxes, oil prices and labor union demands but are more concerned with domestic competition, income taxes, regulatory burdens and availability of credit from lenders.Social implicationsThe authors find major discrepancies in opinions about trade policy and business financing, which may lead to policy design that hinders entrepreneurship given evidence that politicians do respond to voters' opinions (Autor et al., 2016).Originality/valueIt represents the first empirical assessment of differences between voter and small business owner perspectives on entrepreneurial policy. An immediate policy implication includes the need to provide additional avenues of communication of entrepreneurs' concerns.

scholarly journals Are international small business owners really that different?

2019 ◽  
Vol 27 (1) ◽  
pp. 92-117
Author(s):  
Sarah Gundlach ◽  
Andre Sammartino
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Business Owners ◽  
Small Business Owners ◽  
Female Entrepreneurs ◽  
Content Type ◽  
Individual Traits ◽  
Tolerance For Ambiguity ◽  
The Impact ◽  
Do So

Purpose The purpose of this paper is to investigate the impact of individual traits and attributes on the entrepreneurial and internationalization actions of Australian businesswomen, many of whom run small businesses. Design/methodology/approach This study is exploratory and quantitative, based on a questionnaire survey of 323 Australian businesswomen. Drawing upon the extant literature on internationalization, gender and entrepreneurship, the study explores two micro-foundational relationships of interest – personality and capability assessment differences between female business owners and their employed counterparts, and the impact of such traits and assessments on their internationalization. A further question is explored in terms of any differentials in perceptions of barriers in internationalization. Findings The findings show key personality dimensions do not differ dramatically between Australian businesswomen working in their own businesses (i.e. entrepreneurs) or as employees in organizations, while there are surprisingly few differences between women who are engaged internationally and those yet to do so. When comparing the female entrepreneurs and employees, in particular, the findings around tolerance for ambiguity and management efficacy are notably counterintuitive. This leads to the development of testable propositions to refine the causal claims in this domain. Practical implications The study calls into question the distinctiveness of entrepreneurs and entrepreneurial endeavors, at least for female businesswomen. Originality/value By including entrepreneurs and employees, women who have engaged internationally and those that are yet to do so, the study avoids some of the potential self-selection and confirmation biases inherent in studies of only entrepreneurs or small business owners. The investigation of individual traits, attributes and experiences as micro-foundations for internationalization motivations challenges existing theories of small business expansion.

Family Impacts on Emerging Ventures in Poland

1995 ◽  
Vol 8 (4) ◽  
pp. 293-300 ◽  
Author(s):  
Harold Welsch ◽  
Gerald Hills ◽  
Frank Hoy
Keyword(s):  
United States ◽  
Small Business ◽  
Family Business ◽  
New Ventures ◽  
The United States ◽  
Business Owners ◽  
Family Businesses ◽  
Small Business Owners ◽  
Emerging Democracy

This study reports the results of a survey of eighty owners of new ventures in Poland. The purpose of the survey was to assess the problems faced by small business owners and prospective small business owners in this emerging democracy. The sample was almost evenly split between family businesses and nonfamily businesses, which allowed for comparisons between family business issues in Poland and in the United States and between family and nonfamily business in Poland.

scholarly journals South Korean Consumers’ Attitudes toward Small Business Owners Participating in the 2019 Anti-Japan Boycott

2020 ◽  
Vol 9 (5) ◽  
pp. 74
Author(s):  
Eugene Song
Keyword(s):  
Small Business ◽  
Consumer Attitudes ◽  
Business Owners ◽  
Small Business Owners ◽  
South Korean ◽  
Positive Effects ◽  
Positive Attitudes ◽  
Product Sales ◽  
Insight Into

This study investigated consumer attitudes and the motivation of small business owners who participated in the 2019 anti-Japan boycott in South Korea (hereafter, Korea). The main areas of inquiry involved self-expression, the realization of justice, and consumer attitudes as elements of patriotic consumption. A seven-day survey was conducted among 500 adult consumers aged 18 years and older in Korea. The retrieved data were subjected to frequency analyses, reliability analyses, factor analyses, paired t-tests, and regressions. Declining Japanese product sales indicated high levels of a consumer boycott. The analyses demonstrated that consumers held positive attitudes toward small business owners who shared their boycotting beliefs and goals. Second, self-expression and the realization of justice motivation were relatively high, as were attitudes toward the participation message and small business owners who were participating in the boycott. Korean consumers had relatively high intentions to visit the stores of small business owners who were participating in the boycott. Lastly, self-expression motivations, motivations to realize justice, consumer attitudes toward the boycott participation messages of small business owners, and consumer attitudes toward the small business owners themselves had statistically significant positive effects. Small business owners holding general consumer beliefs about boycott participation should actively spread their support messages, and this would provide an excellent opportunity to create positive long-term awareness. This study provided a unique insight into Korean consumer behaviors when patriotism was considered. The findings have significant implications for small business owners looking to sustain themselves during product boycotts.

Informal learning of women small business owners

2018 ◽  
Vol 60 (1) ◽  
pp. 82-103 ◽  
Author(s):  
Jalleh Sharafizad
Keyword(s):  
Small Business ◽  
Informal Learning ◽  
Learning Process ◽  
Work Experience ◽  
Business Owners ◽  
Small Sample ◽  
Formal Training ◽  
Small Business Owners ◽  
Learning Behaviour ◽  
Content Type

Purpose The purpose of this paper is to investigate women small business owners’ informal learning behaviour. There is limited qualitative research that examines women small business owners’ learning process and this study aims to address this gap. The study was driven by the following research questions: “Do women small business owners prefer informal learning to formal training?” and if so, “Why do women small business owners prefer informal learning to formal training?” and “If informal learning is preferred, what role do networking and mentoring play in this learning process?” Design/methodology/approach Semi-structured interviews were conducted with 28 Western Australian women small business owners who were recruited through purposive sampling methods. Findings The small business owners had a strong preference for informal learning. Participants used their own work experience and knowledge to start-up their businesses. A low uptake of formal training was found due to time and resource constraints and personal preferences. Participants relied on contacts within their networks to acquire knowledge or they hired others who possessed the requisite knowledge or skill. Only a small portion of participants had mentors or acted as a mentor. Research limitations/implications This study has limitations that tend to be commonly found in exploratory studies, such as a small sample size. Practical implications The research has implications for recognised training institutions that are engaged in entrepreneurship education. By gaining greater understanding of the nature of learning in small business, they may be able to offer more affordable and flexible informal courses that specifically target women small business owners, incorporate mentorship programs within their business courses by engaging with industry partners, or appoint instructors with industry contacts and experience, to provide mentoring support for these business owners. Originality/value This research responds to calls for studies aimed at developing a more nuanced understanding of the learning behaviour of women small business owners.

IT readiness in small firms

2013 ◽  
Vol 20 (4) ◽  
pp. 807-823 ◽  
Author(s):  
Riccardo Spinelli ◽  
Romano Dyerson ◽  
G. Harindranath
Keyword(s):  
Small Business ◽  
Small Businesses ◽  
Small Firms ◽  
Business Owners ◽  
Small Business Owners ◽  
It Adoption ◽  
Content Type ◽  
Management Capability ◽  
And Cluster Analysis ◽  
It Application

Purpose – The aim of the paper is to explore conceptually and empirically the application of the concept of IT readiness to small firms. Design/methodology/approach – The approach taken was a questionnaire administered to small manufacturing business owners in the Liguria region of Italy. Data were analysed using factor and cluster analysis. Findings – IT readiness concept appears valid with the emergence of three constructs: strategic vision; project management capability; and IT application infrastructure. The date analysis yielded four distinctive and varying profiles of small business owners. Research limitations/implications – This quantitative study exploring a cross section of small firms suggests antecedents to change have been ignored relative to IT adoption decisions. Practical implications – Provision of policy and support services requires a much more nuanced approach to small businesses. Originality/value – There are very few studies of IT readiness in the literature, making the paper original in its intent. The construction of the IT readiness concept appears robust when subjected to empirical testing and yields a number of specific small business profiles with respect to IT.

Owner-employee relations in small firms

2015 ◽  
Vol 30 (7) ◽  
pp. 832-846 ◽  
Author(s):  
Filotheos Ntalianis ◽  
Linda Dyer ◽  
Christian Vandenberghe
Keyword(s):  
Small Business ◽  
Organizational Behavior ◽  
Small Firms ◽  
Negative Relationship ◽  
Business Owners ◽  
Small Business Owners ◽  
Relational Contracts ◽  
Initial Attempt ◽  
Content Type ◽  
Relational Contract

Purpose – The purpose of this paper is to shed light on the type of exchange relationship that small business owners establish with their employees. In particular, this study examines how the personality trait of “conscientiousness” among small business owners relates to relational “psychological contracts,” breach and violation that develop between owners and employees. Design/methodology/approach – This was a quantitative survey design conducted in Canada. Participants were 253 employees and the 50 small firm owners for whom they worked. Findings – Results indicate that owner conscientiousness was positively associated with a relational psychological contract with employees and perceived breach mediated a negative relationship between owner-rated relational contract obligations and feelings of contract violation among employees. Owner-rated relational contract obligations also mediated a negative relationship between owner conscientiousness and employee perceptions of breach and violation. Practical implications – Given the link between conscientiousness and relational contracts, small business owners who get involved in selection and training ought to present to the newly hired employees an accurate picture of their role and job requirements in order to create successful organizations. In addition, less conscientious business owners, through training, should try to develop further skills, such as goal setting and performance appraisal, in order to increase their ability to establish effective relationships (i.e. relational contracts). Originality/value – The current study is an initial attempt toward a better understanding of exchange relationships in small firms, thus strengthening the links between organizational behavior and small business research. It also contributes a quantitative perspective on issues that have typically been explored qualitatively.

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