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Edited by Panikklos Zata Poutziouris, Kosmas X. Smyrnios and Sabine B. Klein
Chapter 24: Internationalization of Family Businesses through Strategic Alliances: An Exploratory Study
25 Family and cultural forces: shaping entrepreneurship and SME development in China David Pistrui, Wilfred V. Huang, Harold P. Welsch and Zhao Jing This study proﬁles the characteristics, attributes and growth orientations of Mainland Chinese entrepreneurs including the relationships, roles, and contributions family and culture play in the development of private small and medium-size enterprises (SMEs). Drawing on a sample of 222 entrepreneurs’ psychographic motives, demographic attributes and business activities are revealed. Family and enterprise relationships related to employment, investment, and active family participation and growth orientations are empirically tested. The ﬁndings suggest that entrepreneurs are motivated by the need for independent-based achievement and continuous learning around a family focus. Entrepreneurs were found to rely heavily on family member participation to establish, develop and grow their enterprises. The majority of the entrepreneurs surveyed employed at least one family member on a full-time basis. Entrepreneurs were also found to use family ﬁnances as the primary source of start-up capital. Family participation in the form of employment and investment was found to have a positive impact on entrepreneurial growth intentions and expansion plans. Introduction and overview Family businesses are the engine that drives socio-economic development and wealth creation around the world, and entrepreneurship is a key driver of family businesses. Entrepreneurial thinking and leadership are fundamental factors in the creation of new enterprises and the sustained competitive advantages of both large and small businesses. The ability to create and foster an entrepreneurial mindset across generations is a major element of family...
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