The Habitual Entrepreneur Phenomenon

Abstract

Despite growing media, practitioner and academic interest and activity relating to the entrepreneurship phenomenon, considerable debate surrounds the notion of entrepreneurs and entrepreneurship. It is very difficult to present an over-arching theory of entrepreneurship, because there is no consensus surrounding the definition of entrepreneurs or the entrepreneurial process. Beyond definitional problems, an additional source of difficulty stems from the heterogeneity of entrepreneurs. [...] To build theory and to provide appropriate contextualised support to address the market failures facing each 'type' of entrepreneur, there is a need for a greater understanding of the resources profiles, behaviour and contributions of each 'type' of entrepreneur relating to the extent and nature of their prior business ownership experience (PBOE). Practitioners seeking to maximise the wealth creation and job generation returns relating to public support to enterprise are supporting the formation and quick death of new private firms and/or seeking to 'pick winning firms' with substantial growth potential. [...] The International Small Business Journal (ISBJ) has played an important role in publishing research and debate focusing on the evolution of understanding relating to the habitual entrepreneur phenomenon. In this Virtual Special Issue of ISBJ, we focus on habitual entrepreneurs who have the potential to mobilise their PBOE in subsequent ventures. Habitual and sub-groups of serial and portfolio entrepreneurs with PBOE are compared against novice entrepreneurs who do not have any PBOE to draw upon. Our aim is to reflect this complexity and ambiguity, but also to weave a pathway through the debate, and offer some clarity to the reader. This Virtual Special Issue highlights seven key papers that demonstrate the breadth and insight of evolving work relating to the habitual entrepreneur phenomenon. This introduction will outline these seven papers in context, why they are important, and why they should be (re)read by academics, students and practitioners.