Francis J. Greene and David J. Storey
This article aims to review the extent to which public policy can enhance entrepreneurship and so garner the economic benefits identified by van Praag and Versloot. To achieve this aim the article has four sections. It begins by addressing the conceptual confusion caused by the different definitions of “entrepreneurship and small business (public) policy.” Following Hart, it takes “public policy” to be the intended use of powers by government to impact on societal outcomes. It then follows Lundstrom and Stevenson and suggests that entrepreneurship policies focus upon individuals who are not yet business owners; here the policy objective is to shift them into becoming business owners. In contrast, small business or “small and medium sized enterprise” (SME) policies focus upon existing businesses.
Deniz Ucbasaran, Paul Westhead, and Douglas Michael Wright
Entrepreneurial behaviour is increasingly recognized as being heterogeneous. One notable source of heterogeneity is variations in the level and nature of entrepreneurs' experience. This has led to the distinction between experienced (‘habitual’) entrepreneurs and first-time (‘novice’) entrepreneurs. A number of high profile entrepreneurs have successfully owned several businesses. These individuals are known as habitual entrepreneurs, to reflect their ownership in more than one business, either sequentially (i.e. serial entrepreneurs) or concurrently (i.e. portfolio entrepreneurs). Although habitual entrepreneurs are widespread and have received media attention, there has been limited conceptual and theoretical understanding of this group. This article seeks to address this void by utilizing human capital theory to provide a framework for studying habitual entrepreneurs.