Innovation and Entrepreneurship in New Europe
Edited by Ruta Aidis and Friederike Welter
Chapter 3: ‘Matter-of-Fact’ Entrepreneurship: FILKAB Joint Stock Company, Bulgaria
Tatiana S. Manolova INTRODUCTION Economies in transition have lately seen a rapid rise in entrepreneurship. During the 1990s, about 5 per cent of the adult working population in these countries attempted to start a new business or to become self-employed, a ﬁgure very similar to the percentage of nascent entrepreneurs in the United States and Western Europe (Peng 2001). Private small and medium-sized enterprises account for as much as 80 per cent of the GDP of countries such as the Czech Republic, the Slovak Republic, Estonia or Hungary, almost as much as in the industrialized West (EBRD 2005). Entrepreneurship is seen as a major engine for job creation and social change in these economies. That new and small entrepreneurial ﬁrms realize their full innovation and growth potential is therefore an important managerial and public policy concern. Most of what we know about entrepreneurship in transition economies centres around the costs and constraints to entry and growth. Prior research, in particular, has extensively explored the negative eﬀect of the underdeveloped and uncertain institutional environment (Peng 2001; Puﬀer and McCarthy 2001). Relatively less is known about the individuallevel, ﬁrm-level, and environmental factors which enhance entrepreneurial performance in the context of transition economies. The present study seeks to address this gap by oﬀering an in-depth look at the evolution and key success factors for an entrepreneurial venture in the cable distribution sector of the Bulgarian economy. It focuses, in particular, on the role and interplay of the founding team, the...
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