An International Review
Chapter 1: Introduction: Minorities in Entrepreneurship – An International Review
Entrepreneurship is the engine fuelling innovation, employment generation and economic growth. Only by creating an environment where entrepreneurship can prosper and where entrepreneurs can try new ideas and empower others can we ensure that many of the world’s issues will not go unaddressed. (Klaus Schwab, Founder and Executive Chairman, World Economic Forum, 2009, p. 6) INTRODUCTION It is widely acknowledged that national economies as well as local communities benefit enormously from the introduction of new business ventures (De Clercq and Arenius, 2006; Anderson et al., 2009). Entrepreneurial activities provide more than economic advantages; they are also capable of providing significant social changes (Bosma et al., 2008). Because of the recognition of the importance of entrepreneurial activities, particularly in the industrialized economies of Western societies (Peredo et al., 2004), the field of entrepreneurial research has enjoyed prominence over the previous two decades. This literature has furnished researchers with an awareness of the general characteristics, strategies and motivations of those who take up a business venture, as well as underscoring the importance of the entrepreneur’s contribution to the economic development of the country. From this knowledge base, we have been able to draw together a clear picture of the entrepreneur. According to Frederick et al. (2007), an entrepreneur is ‘a person who habitually creates and innovates to build something of recognized value around perceived opportunities’ (p. 76). A typical entrepreneur is considered to be male, native born, usually between 35 and 55 years old who operates a business venture in Western developed...