Entrepreneurship for Economic Growth

A special issue of Administrative Sciences (ISSN 2076-3387).

Deadline for manuscript submissions: 24 August 2024 | Viewed by 3471

Special Issue Editor


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Guest Editor
Faculty of Economics, Development and Business Sciences, University of Mpumalanga, Mbombela 1200, South Africa
Interests: economic policy; entrepreneurship; public/social policy development

Special Issue Information

Dear Colleagues,

Entrepreneurs are crucial to market economies because they may drive the nation's economic expansion. They encourage new employment by developing new goods and services, which eventually accelerates economic growth. Therefore, public policy that promotes entrepreneurship should be seen as crucial for economic progress. Entrepreneurship generates lots of new chances and jobs. A significant number of entry-level positions, which are crucial for transforming unskilled workers into competent ones, are created by entrepreneurship. Additionally, it trains and sends skilled personnel to big enterprises. The expansion of entrepreneurship is largely responsible for the rise in a nation's overall employment rate. Thus, entrepreneurship plays a major role in the creation of new employment prospects. Entrepreneurial endeavors increase productivity by introducing innovation to every facet of business, utilizing the available resources in the most efficient methods. By providing fresh and improved goods, services, and technology, entrepreneurs create new markets. As a result, they contribute to increasing national income and creating new wealth, so that more national benefits can be provided to the people by the government. Entrepreneurs lessen reliance on outdated practices, processes, and technology and alter or break social norms and cultures. In essence, entrepreneurs are the forerunners in introducing new technology and methods, which ultimately result in societal transformations and economic development. These adjustments are linked to a better way of living, charitable thinking, stronger morale, and better economic decision-making. In conclusion, encouraging and supporting entrepreneurship can have a favorable effect on the economy of the nation and even on already established enterprises, and this enhances the possibility of discovering innovative solutions to social difficulties faced by communities all over the world.

Therefore, the primary purpose of this Special Issue is to explore measures with which to further the link between entrepreneurship and economic growth for emerging economies. In other words, how should emerging and transitioning economies be empowered to sustain growth of entrepreneurial mindset and high levels of productivity? This Special Issue aims to broadcast recent empirical and theoretical research regarding the dynamics in entrepreneurship and economic growth that can guide policymakers in making appropriate policies. These might include (but is not limited to) the following topics:

  • Economic policies and SMEs regulation;
  • Economic growth via SME growth;
  • Entrepreneurial and managerial approaches;
  • Entrepreneurial finance;
  • Entrepreneurial/co-founder teams;
  • Internal and external drivers for entrepreneurial innovation;
  • Inhibitors and risks of entrepreneurial mindset;
  • Economics of entrepreneurship;
  • Social entrepreneurship

Dr. Kanayo Kingsley Ogujiuba
Guest Editor

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Published Papers (4 papers)

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Research

21 pages, 1057 KiB  
Article
Agro-Investments among Small Farm Business Entrepreneurs in the Era of the Fourth Industrial Revolution: A Case in the Mpumalanga Province, South Africa
by Mzwakhe Nkosi, Azikiwe Isaac Agholor and Oluwasogo David Olorunfemi
Adm. Sci. 2024, 14(5), 85; https://doi.org/10.3390/admsci14050085 - 25 Apr 2024
Viewed by 231
Abstract
Agro-investment in the fourth industrial revolution will be an imperative driving factor and a sacrosanct enabler for small farm business entrepreneurs to participate holistically in the agricultural economic value chain. Investing in advanced technology and entrepreneurship has the potential to promote business modernization [...] Read more.
Agro-investment in the fourth industrial revolution will be an imperative driving factor and a sacrosanct enabler for small farm business entrepreneurs to participate holistically in the agricultural economic value chain. Investing in advanced technology and entrepreneurship has the potential to promote business modernization and improve the productivity and profitability of farm businesses. This study assessed agro-investments in small farm business entrepreneurs in the era of the fourth industrial revolution in Mpumalanga province, South Africa. The study objectives were precisely to determine the perception of small farm business entrepreneurs on agro-investment and examine the impact of agro-investment for small farm business entrepreneurs in the fourth industrial revolution. The questionnaire used in this study employed structured and semi-structured questions for data collection, and an aggregate of 235 participants were randomly selected. The results on perception indicate that small farm business entrepreneurs mostly perceive agro-investment in the fourth industrial revolution as not suitable for small farm business conditions; this may be attributed to modern agricultural implements being predominantly manufactured in accordance with commercial sector specifications. The results from the binary logistic regression analysis on the perception of small farm business entrepreneurs in the fourth industrial revolution revealed that gender (P-value = 0.031), level of education (P-value = 0.04), farm size (P-value = 0.048), farming skills and knowledge (P-value = 0.027), farm productivity (P-value = 0.059) and investment opportunities (P-value = 0.057) were significant and influence the perception of small farm business entrepreneurs. The mean and standard deviation were used to assess the degree of severity of impact. From the results, sources of investment, technology, market participation, economic benefits, and government interventions were discovered to be impactful on agro-investment for small farm business entrepreneurs. The key contributions of agro-investments among small farm business entrepreneurs in the technological era embody catalyzed rural development, a diversified inclusive rural economy, and competitive participation in the agricultural food value chain. Another crucial contribution of the study is unlocking and accentuating the potential and opportunities that investors, technology designers, and manufacturers can exploit in small farm business agro-investments. This paper identifies and recommends that the South African government ought to create enabling environments for agricultural investment activities to thrive, especially among small farm business entrepreneurs, thereby providing grant funding and training, and enabling public-private stakeholder linkages. Full article
(This article belongs to the Special Issue Entrepreneurship for Economic Growth)
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13 pages, 506 KiB  
Article
Using the Case Study Method in Undergraduate Entrepreneurship Education
by Mazanai Musara
Adm. Sci. 2024, 14(4), 60; https://doi.org/10.3390/admsci14040060 - 22 Mar 2024
Viewed by 722
Abstract
Various methods are used in entrepreneurship education. However, the effectiveness of these methods in inculcating the much-needed improvement in entrepreneurial knowledge, skills, intentions, and ultimately entrepreneurial activity is underexplored in literature. Following the action research approach in an undergraduate entrepreneurship class of 165 [...] Read more.
Various methods are used in entrepreneurship education. However, the effectiveness of these methods in inculcating the much-needed improvement in entrepreneurial knowledge, skills, intentions, and ultimately entrepreneurial activity is underexplored in literature. Following the action research approach in an undergraduate entrepreneurship class of 165 students, the study investigated the students’ perceptions of the case method’s effectiveness in improving their entrepreneurial knowledge, skills, intentions, and ultimately entrepreneurial activity. A combination of observation methods and semi-structured interviews were used to collect qualitative data. Observation data revealed a lack of physical space for facilitator mobility and low levels of engagement by students as some of the major challenges encountered when implementing the case study method in large classes. An analysis of semi-structured interview data revealed contextual relevance, building resilience, critical thinking, innovation and creativity, entrepreneurial motivation, entrepreneurial career development, and inspiration as some of the effective contributions of using the case study method in entrepreneurship education. The study recommends that, to further enhance the effectiveness of the case study method, the environment in which case studies are applied needs to be improved to ensure that there is enough physical space for lecturer mobility and interaction with students during case-study discussions. Full article
(This article belongs to the Special Issue Entrepreneurship for Economic Growth)
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20 pages, 609 KiB  
Article
Social Innovation and Social Entrepreneurship: Uncovering Themes, Trends, and Discourse
by Carlos Sampaio and João Renato Sebastião
Adm. Sci. 2024, 14(3), 53; https://doi.org/10.3390/admsci14030053 - 11 Mar 2024
Viewed by 1131
Abstract
The world is marked by persistent and recurring socio-economic and environmental changes. The domains of social innovation and social entrepreneurship have gained prominence as catalysts for positive change and societal resilience. Despite the substantial body of literature assessing social innovation and social entrepreneurship, [...] Read more.
The world is marked by persistent and recurring socio-economic and environmental changes. The domains of social innovation and social entrepreneurship have gained prominence as catalysts for positive change and societal resilience. Despite the substantial body of literature assessing social innovation and social entrepreneurship, most studies address these topics through analyses of scientific production output or through systematic literature reviews. Conversely, the main objective of this paper is to conduct a thematic analysis of the existing scientific literature on social innovation and social entrepreneurship, published across various geographical contexts, to assess themes, trends, and discourse within these fields worldwide. Therefore, it synthesizes, analyzes, and evaluates the evolving landscape of social innovation and social entrepreneurship research over time, employing a sliding windows methodology. This approach divides the analyzed period into distinct times to meticulously track changes in themes and discourse over time. To accomplish this objective, this paper examines the evolving thematic dynamics of social innovation and social entrepreneurship within the scientific literature, serving as a driver and compelling researchers and practitioners to explore new dimensions in social innovation and social entrepreneurship. Evidence from the analysis is discussed, including the main theoretical and practical implications and proposals for future research. This paper emphasizes the importance of adaptive and resilient approaches within the domains of social innovation and social entrepreneurship and contributes to a deeper understanding of how social innovation and social entrepreneurship evolve and adapt over time, shedding light on the transformative potential of social innovation and social entrepreneurship. Full article
(This article belongs to the Special Issue Entrepreneurship for Economic Growth)
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22 pages, 327 KiB  
Article
Evaluating Inspiring Factors and Obstacles in the Start-Up of Owned Agri-Preneurial Businesses: Underlying Evidence from South Africa
by Isaac Azikiwe Agholor, Ataharul Chowdhury and Ebenezer Olamide
Adm. Sci. 2024, 14(3), 47; https://doi.org/10.3390/admsci14030047 - 04 Mar 2024
Viewed by 898
Abstract
Contemporary economies worldwide appreciate the underlying importance of service sectors, culminating in sectorial growth and satisfactory performance of agri-preneurship. This study is premised on two simple explanations that cascaded into two hypothetical questions: (i) Are there inspiring factors for individuals to start up [...] Read more.
Contemporary economies worldwide appreciate the underlying importance of service sectors, culminating in sectorial growth and satisfactory performance of agri-preneurship. This study is premised on two simple explanations that cascaded into two hypothetical questions: (i) Are there inspiring factors for individuals to start up their own agri-preneurship business? (ii) Are there factors hindering individuals from starting up their own agri-preneurship business? These two hypothetical constructs triggered four primary arguments established in the study. This study was conducted in Mbombela local Municipality in category ‘B’, which is made up of the Ehlanzeni District, Mpumalanga South Africa. From a population of 1021 farmers, 458 samples of respondents were obtained and considered to be realistic for the study. The study embraced the mixed research approach, and the field survey was done between the months of February 2022 and June 2022. Descriptive statistics, involving the frequency count and percentages, were used to determine the motives and obstacles of starting up one’s own business. The hypothesis was assessed by employing multinominal logistic regression to determine the relationship between demographic variables and predictor variables. The findings revealed that potential agri-preneurs are affected by an array of inspiring factors in the decision-making process. Further, the results revealed that agri-preneurial spirit is inhibited by numerous challenges. In the shared view of respondents, there was a portmanteau of obstacles impeding the commencement of one’s own business. The results also showed that, in the self-realization variant, age (p < 0.035) and marital status (p < 0.033) were found to be correlated and statistically significant as an inspiration for setting up an agri-preneurship business, while the self-satisfaction variant specified marital status (p < 0.001) to be significant and to negatively (β −1.564) influence inspiration for agri-preneurship. In the independence variant category, two crucial variables, level of formal education (p < 0.005) and farm experience (p < 0.007), were found to be correlated and statistically significant in determining agri-preneurial decisions. This study has several policy propositions: the government and allied stakeholders must consider the motives that inspire potential investors in agriculture. The government must also oversee the reasons for young and old agri-preneurs leaving agri-businesses because of failure. This study underscores the need to subjectively analyze agri-preneurial inspiring factors and obstacles to performance. The contributions of agri-preneurial businesses to economic growth and poverty alleviation justify the need for a concerted effort to motivate potential investors. Another pertinent contribution of the study is highlighting the obstacles of agri-preneurs to enable the government to support and prepare responsive, innovative, and resilient agri-preneurs in South Africa. This paper recommends that starting up one’s own agri-preneurial business is a good idea for abating hunger and unemployment. Full article
(This article belongs to the Special Issue Entrepreneurship for Economic Growth)
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