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SUCCESS FACTORS IN ENTREPRENEURSHIP: THE CASE OF MALAYSIA

DEPARTAMENT DECONOMIA DE LEMPRESA

EUROPEAN DOCTORAL PROGRAMME IN ENTREPRENEURSHIP AND SMALL BUSINESS MANAGEMENT (EDP)

Pilot Research Work

SUCCESS FACTORS IN ENTREPRENEURSHIP: THE CASE OF MALAYSIA

Author: Siti Nor Wardatulaina Mohd Yusof aina.aida@gmail.com

Supervisor: Prof. Dr David Urbano David.Urbano@uab.cat

SUCCESS FACTORS IN ENTREPRENEURSHIP: THE CASE OF MALAYSIA

Acknowledgments

Working on this project, it really takes perseverance, determination, commitment, planning, and sacrifices and if I were to write, the list is endless with joys and tears. It was a self-fulfilling journey. I would like to

thank all who have aided in one way or another in the writing of this report.
To begin, firstly this is a great opportunity to express my respect to Professor Dr David Urbano, who has been an excellent supervisor. Undertaking work of this nature would have been impossible without his support, patience, time and energy. His unflagging belief in people, his generosity and his leadership are truly inspirational. The immense knowledge shared was uncountable.

Greatest thanks to my family for their love, unremitting encouragement and support especially to my lovely mother who is a very strong, achieving woman and who was always be my role model. But most of all to my sister and brothers, all of you deserve countless gratitude for your helped in so many different ways during this journey. For my true best friend ever- Suhaimi and Rosalina, you both mean so much to me; take me through the challenge for all the emotion support and always cherished my soul. And not to forget also my deep and sincere thankfulness to the owner and founder of the firms who collaborated in this research.

Last but not least, my sincere appreciation is expressed to the administrative staff of the Department d'Economia de l'Empresa at the Universitat Autonoma de Barcelona. Financial support from the Ministry of Higher Education (MOHE), Malaysia, for awarding me the scholarship is greatly acknowledged.

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ABSTRACT Entrepreneurship is one of the main important drivers of a market nation and economists have underlined the crucial task acting in the market development. This research aims to analyze the success environmental factors of entrepreneurship in Malaysia. Concerning the methodology, the four case studies in Malaysia as a qualitative approach were conducted by using the ATLAS. ti software package for the analysis. The main findings from the research are as follows; the entrepreneurial culture and mindsets in addition to the entrepreneurial supports and governmental policies are the factors that contributed to the success in entrepreneurship. The elements such as entrepreneurial role models, presence of experienced entrepreneurs, skills and knowledge of entrepreneurs, cultural attitudes towards entrepreneurship and proximity of entrepreneurial universities are strongly correlated with the entrepreneurial culture and mindsets. The entrepreneurial supports and governmental policies is related with the business angels and risk capital availability, availability of financial resources, government influences and supports for entrepreneurship in addition to role of government policies on entrepreneurial activity. This research will be practicable for academicians and the researchers who are concerned in examining environmental factors on entrepreneurship. Besides, this also may impart to the entrepreneurs themselves to improve the success ratio in their business on top of give the additional exposure through the characteristics in the entrepreneurial industry. In term of policy makers, this study may conduce through the national or regional laws and regulation be changed to facilitate and retain the entrepreneurial movement. The future research may investigate the result of this study throughout a large-scale within and cross cases analysis. The more exploration of potential entrepreneurs and businessmen in the various sector industries who have recently started their ventures may provide more convincing, extensive and supportive insights. This may also focus on the different geographical region in Malaysia or within each of the other developing countries.

Keywords: entrepreneurship, success factors, SMEs, case studies, Malaysia JEL classification: L25, M13, M21

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1.

INTRODUCTION

Entrepreneurship is one of the main important drivers of a market nation and economists have underlined the crucial task acting in the market development. Whereas neoclassical economists have dismissed entrepreneurial activity due to the dominance of general equilibrium analysis, economists outside the mainstream demonstrate how crucial entrepreneurs are to sustaining a dynamic market under appropriate institutional conditions (Blaug, 1998; Casson, 1982; Kirzner, 1973, 1979; Mises, 1949). In this sense, Bird (1988) contends that new entrepreneurial ventures emerge because of careful thought and actions. Surveyed by Bernier (2001), showed that the cost of doing business influences the start-up and the success of the company in its formative years performance outcomes. Indeed, Bruno and Tyebjee (1982) suggest that clusters of entrepreneurs occur at certain times and places because the social and economic environment at those times and in those places encourages entrepreneurship. Another study of Savaya, Spiro, & Elran-Barak (2008) have mentioned that along similar lines, the literature on new organizations teaches that their failure or success depends, in good measure, on ecological factors like the availability of resources or the existence of competing organizations (Pennings, 1980; Weiss, Coffman, & Bohan-Baker, 2002).

According to the literature, in Malaysia as a developing country, entrepreneurial activities are seen as a mechanism to improve the social and economic development. According to Abdullah (1999a), in a developing country like Malaysia, entrepreneurial activities through venture creation are seen as a mechanism to improve the distribution of income, to stimulate economic growth, and to reshape an economic structure, which has been highly dependent on the activities of large firms. In essence, entrepreneurship is crucial to the health of Malaysias economy. The government of Malaysia, throughout its constitutional bodies, has been playing the crucial role in developing and encouragement home grown business entrepreneurs. Therefore, efforts have been intensified and policies were drafted by the Malaysian government to encourage entrepreneurial activities and to promote the growth of selfemployment nationwide through small businesses, petty trading, agriculture, and services (Ninth Malaysia Plan, 2006-2010). Three of the mainly important establishments are the Ministry of Entrepreneur and Cooperative Development (MECD), its agency Perbadanan Nasional Berhad (PNS) and the SME (Small and Medium Enterprises) Bank.

Hence, entrepreneurship is seen as a paradigm of deliberate behaviour. Beginning the moment when entrepreneurship is a process that does not occur in a vacuum, Grundsten (2004) argues that environmental factors have some bearing on an individuals entrepreneurial activities. In fact, in
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entrepreneurship field, based on Veciana and Urbano (2008), it seems that the study of the environmental/institutional context of a country and its relationship to the several aspects of entrepreneurship should be of paramount importance. According to Gartner (1985), there are four major dimensions in entrepreneurship describing the phenomenon of new venture creation: the characteristics of the individual(s) who start the venture; the organization they create; the environment surrounding the new venture; and the process by which the new venture is started. Therefore, this study takes the approach that the most important dimension is the environment which it associated with the entrepreneurial phenomenon and furthermore, this can be discussed with regard to a possibility acknowledgment and exploitation by entrepreneurs in regards to increase the rate and nurturing of new venture developments.

In general, the supportive environment refers to a combination of factors in the environment that play a role in the development or nurturing of entrepreneurship and entrepreneurial activities. As the infrastructure develops and as the entrepreneurial system grows, the system will thrive only if the environment is conducive for entrepreneurial activity and new venture creation (Pennings, 1980). Empirical evidence, however, on entrepreneurial environments suggest that societies that keep rules and regulations at minimum, offer tax incentives provide training and counseling services to start-up entrepreneurs, increase the likelihood of new venture creation (Dana, 1987). Gnyawali and Fogel (1994) have argued that an integrated, theoretically driven and comprehensive framework is not available for studying the environmental conditions conducive for entrepreneurship. Moreover, they asserted that a conceptual framework is needed that integrates existing literature on external environments for entrepreneurship. For that reason, in this context and due the scarcity of this type of research, this study analyzes the success factors of entrepreneurship in Malaysia. In particular, the research questions are the following: What is the entrepreneurs profile in Malaysia? What are the characteristics of new firms in Malaysia? What are the success environmental factors in entrepreneurship? Which are the most important success environmental factors in entrepreneurship?

Essentially, we use the four case studies on Malaysia as a qualitative approach. Hence, the process for this case studies analysis as follows: as the interviews were recorded, it is transcribed and coded with supported by a qualitative data analysis software package which is ATLAS. ti. Thus, for all intents and purposes contribution of this study will be practicable for academicians as well as the researchers who are concerned in examining environmental factors on entrepreneurship. Besides, this also may impart to the
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entrepreneurs themselves to improve the success ratio in their business on top of give the additional exposure through the characteristics in the entrepreneurial industry. In term of policy makers, this study may conduce through the national or regional laws and regulation be changed to facilitate support social entrepreneurs because an entrepreneur in the true sense of the word is who wants to be successful in his/her business will work hard for his/her cause and will not depends on others. However, the guidance, assistance and support from government particularly the policy makers and local authorities are needed in order to encourage higher spirit towards success.

After a general introduction in section 1, this research is organized as follows: Section 2 reviews of literature on the main topics related with the study. Firstly, it will start with the entrepreneurial success, entrepreneurial culture and mindsets together with the entrepreneurial supports and governmental policies. The section ends with a proposed framework to be used as a guide for this research which links to the elements of entrepreneurial culture and mindsets together with the entrepreneurial supports and governmental policies elements found in the literature. Section 3 describes the methodology designed to identity the relationship among the factors that contributed to the success in entrepreneurship with a qualitative approach using four case studies based on Yin (2003). Section 4 is about the analysis of the data collected on four companies interview in different sector industries. This section shows the analysis results of the individual case-studies (within case analysis) and also the analysis results of the comparison of four case studies (cross-case analysis) as detailed along with the ATLAS.ti software as a tool in order to develop codes and categories from the interviewees data. Section 5 presents the conclusions, and future research of the study.

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2.

LITERATURE REVIEW

As we mentioned before, the theoretical framework of this research is built on the conceptual framework of new venture creation (Gartner, 1985) and according to him, one of the four major dimensions in entrepreneurship which describing the phenomenon of new venture creation is the environment surrounding. With regards to this matter in this study, we narrowed down the environmental surrounding as the factors that contribute to the success in entrepreneurship. Therefore, the entrepreneurial success as the outcome will be presented followed by the first dimension which is the entrepreneurial culture and mindsets. This dimension has five elements which are the entrepreneurial role models, presence of experienced entrepreneurs, skills and knowledge of entrepreneurs, cultural attitudes towards entrepreneurship and the role of governmental policies on entrepreneurial activity. Subsequently, the four elements of the entrepreneurial supports and governmental policies are explained. These elements are the business angels and risk capital availability, the financial resources availability, the government influences and supports for entrepreneurship as well as the role of government policies on entrepreneurial activity. The section ends with a proposed framework to be used as a guide for this research which links to the all elements as found in the literature.

2.1

Entrepreneurial Success

Assessing success is somewhat debatable due to a deficiency of agreement what comprises entrepreneurial success. Eight various success dimensions pertaining to economic performance have been suggested (Murphy, Trailer and Hill, 1996) which are; efficiency, growth, profit, size, liquidity, success or failure, market share and leverage. Furthermore, they state that success determined from outside has little relevance if the entrepreneurs do not see themselves as successful. According to Cooper, Woo, Carolyn, & Dunkelberg (1988), regardless of some mixed findings, success generally attended those entrepreneurs who were involved in a founding team, who had education and relevant experience, who had owned previous businesses, who started businesses similar to those they had left, who came from large firms, and who had more initial capital.

Success or achievement is a persistent subject matter in individual life. This is no distinction for the field of entrepreneurship. Derived from Raduan Rose, Naresh Kumar, & Yen (2006a), their study has identified the success factors of founding entrepreneurs in Malaysia contributing to their companies' venture growth. This is more to examine the relationship between venture growth and the following factors; namely personal initiative, human capital, areas of focus on competency and government support programs. They found that the entrepreneurs educational level, working experience and weather their
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parents own business have a positive relationship with their success. The scholars have also provided a clear indication as to which area of competency the entrepreneurs should focus on. Successful entrepreneurs have been described as extroverted risk takers who are creative, flexible and independent (Ibrahim and Goodwin, 1986). Moreover, success has generally been operationalized in one of four basic manners by income (Duchesneau and Gartner, 1990), employment that is either steady or growing (Alpander, Carter, & Forsgren, 1990), revenue growth (Begley, 1995) or more frequently, mere survival: remaining in business (Ibrahim and Goodwin, 1986; Box, Watts, & Hisrich, 1994, Duchesneau and Gartner, 1990). Literature also revealed that all entrepreneurs have their own perceptions of what success means to them: they can regard themselves as successful, although, looking from outside and measuring with traditional financial meters, their firms have attained different levels of success (Simpson, et al., 2004). Rather than personal characteristics, a combination of experience and environmental awareness which is focus was demonstrated as significant predictors of venture success. Consequently, the characteristics of the businesses and owners may influence their perceptions of their success and its relative importance (Walker & Brown, 2004). Entrepreneur characteristics, such as gender, education, age, managerial skills, experience (Kallerberg & Leicht, 1991; Rowe, et al., 1993; Masuo, et al., 2001), as well as physical and emotional support from family members (Green & Pryde, 1989), are important factors that influence business success.

Entrepreneurial success may not be restricted to economic performance (Cooper and Artz, 1995). According to Simpson, Tuck, & Bellamy (2004), in the simplest definition success is equivalent to continued business operations and the opposite, failure, means going out of business. Indeed, the company success is one of the topics that the academic literature in fields ranging from economics to psychology, including sociology and anthropology, has paid great attention to (Van Praag, 2004). Prior research has shown that successful entrepreneurs have large networks of causal acquaintances that provide ideas, access to potential investors and access to potential customers (Aldrich, Rosen and Woodward, 1987) and there is a link between entrepreneurss networking behaviour and the growth of a firm (Ostgaard and Birley, 1996). This relationship appears to be contained by environmental influence. Moreover, the analysis in the term of business success as evaluated by in their study found that it generally defined in terms of economic or financial measures which comprise return on assets, sales, profits, employees and survival rates; and no pecuniary measures, such as customer satisfaction, personal development and personal achievement. Scholars such as Maidique and Zirger (1985) together with MacMillan (1994) study mentioned previously that success was defined as the achievement of something desired, planned or attempted. Based on Reijonen and Komppula (2007) study, a majority of the
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entrepreneurs assessed business success from the individual level. Besides, they mentioned that the most important success measures were making a reasonable living, good quality of life and satisfied as well as loyal clientele. On the contrary, Kalleberg and Leicht (1991) supported these arguments and tested several hypotheses concerning how the survival, and success, of small businesses owned by men and women were related to industry differences, organizational structure, and attributes of their owner-operators. Scholars such as Man, Lau, & Chan (2002) prefer to speak of success in terms of competitiveness to analyze these early years of the life of the business.

Accordingly, from the brief of literature review pertaining to entrepreneurial success factors in this research, the concept of sales growth, satisfaction and income is used in this research as a success measurement in entrepreneurship.

2.2 2.2.1

Entrepreneurial Culture and Mindsets Entrepreneurial Role Models

The impact of entrepreneurial role models generally interrelated to involving the entrepreneurs, employment in the business and significantly related with interest in starting a business towards the success factors in entrepreneurship. Therefore, the greater entrepreneurial role models influence, the greater the ability to enterprise. As surveyed by Cooper (1985) has stated that the factors like experience or occupational background of the entrepreneurs, family members, skill, knowledge, role models, supports and the economic conditions of the entrepreneurs, access to capital, etc. are some of the motives that lead to entrepreneurial success. The argument is supported by Amit, Glosten, & Muller (1993) and Bygrave (1993) revealed that success of a new venture is the outcome of reciprocal relations among variables relating to the entrepreneurs personal characteristics, skills and background, the decisions and actions taken by the entrepreneur in the process of realizing the venture, the nature and structure of the organization or the service that the venture has developed, and the organizational and environmental variables of the framework in which it came about. Among them, Cressy (1996) emphasizes the role of the entrepreneurs human capital, especially his or her age, and suggests a model that assumes the probability of a new firms survival is an increasing function of an entrepreneurs age.

The foregoing discussion shows that an individual with a high need for achievement is characterized as having a desire to take personal responsibility for decisions, a tendency to work harder at tasks requiring mental manipulation, setting goals and trying to achieve them, and a tendency to think and plan ahead (McClelland, 1961). In the same way, in the literature assured that the human capital elements of the
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entrepreneurs such as education, age, work history, role model and support networks have positive contributions in business (Hisrich, 1990; Krueger, 1993). Likewise, as revealed scholars indicated that successful entrepreneurs are willing to take risks although many successful entrepreneurs attribute success in business (Gelderen, Thurik, & Bosma, 2006; Norton & Moore, 2006) to their ability to confront uncertainty (Moensted, 2007) and take a calculated risk (Ibrahim & Ellis, 1993).

Numerous studies have been conducted and some researchers have found it fruitful to the relationship between the entrepreneurs human capital and the post-entry performance of new or entrepreneurial firms, defined as the survival or hazard rate of the firms (Evans & Leighton, 1989; Bates, 1990; Bruderl, Preisendorfer, & Ziegler, 1992; Holtz-Eakin, Joulfaian, & Rosen, 1994; Cressy, 1996; Taylor, 1999). These studies generally demonstrate that the entrepreneurs human capital, expressed by age, education, work experience, and other factors, have a positive effect on the post-entry performance. From the literature, Begley and Boyds (1987) study of risk-taking preferences demonstrated that organizational founders exhibit a stronger risk-taking propensity, as well as a higher tolerance for ambiguity, than do non-entrepreneurial individuals. Furthermore, as reviewed by Zhao, Seibert, & Lumpkin (2010) conclude that interest in the role of personality in entrepreneurship has recently seen a re-emergence after a hiatus of almost 20 years e.g., (Baum, Locke, & Smith, 2001; Ciavarella, et al., 2004). This is supported by Consistent and Wagner (2006) finding that those individual characteristics tend to play a minor role in explaining founding success. However, in the person dimension, cohabitation turns out to be much more influential, although this characteristic has not yielded consistent results so far (Davidsson, 2006). Hence, in view of the above, we may deduce that proposition (P): P1 (a): There is a positive relationship between entrepreneurial role models and the success in entrepreneurship 2.2.2 Presence of Experienced Entrepreneurs

In a further understanding of the entrepreneurial process and environment, therefore, it is crucial to find the presence of experienced entrepreneurs. Moreover it will positively associate to improve the business skills and venture in a continuous discovering and development in entrepreneurship. As appraised by Vesper (1980) indicated that work experience may be more important when it is necessary to rely on inside industrial information and in highly competitive businesses. By examining experience and expertise, Chandler and Jansen (1992) report some significant relationships between a founder's experience and self-rated skills and between experience and skills on the one hand and venture growth and profitability on the other. Besides, the founding entrepreneurs could have the competencies to perform equally well as professional managers (Willard, et al., 1992). The review of the literature
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provided earlier which entrepreneurs who have the necessary competencies especially in the area of operations, finance, marketing, human resources and management skills required for the business are more likely to be successful at startup (Peterson, Kozmetsky, & Ridgway, 1983; Praalad & Hamel, 1990; Swierez & Spencer, 1992). With regards to these contacts, Vesper (1990) reports several studies indicating that founders have a propensity to start ventures in technologies, markets, and geographic areas they are already familiar with, while Cooper, Woo, & Dunkelberg (1989) in their studies, found that 42 percent or 58 percent of the founders they studied got their business idea from a previous job.

Ideally, several people can be in a profession for years and be familiar with fewer than someone who has been in the profession for months. Research has shown that founders' current skills could predict the performance of their ventures and that their predictive ability varied across economic environments (Herron & Robinson, 1993). The importance of knowledge and previous managerial experience for venture performance has been emphasized in the literature see for example (Brockhaus & Horwitz, 1986; Cooper & Gascon, 1992; MacMillan, Zemann, & Subbanarasimha, 1987; Shane, 2003). Tacit knowledge sometimes can be taught through guided experiences, however, and courses in entrepreneurship try to do just that, at least to some extent. And this view was defended by a numerous scholars which they have themselves devised a program for teaching practical intelligence in school (Williams, Blythe, White, Li, Sternberg, & Gartner, 1996).

In line with the research has been done, it illustrated that entrepreneurs with high personal initiative will further enhance their management, improve business operation skills and embark in a continuous learning and development attitude (Raduan Rose, et al., 2006a). However, knowledgeable practitioners, such as venture capitalists, seem to believe that founders' experience is important to the success of a new venture (Goslin & Barge 1986; MacMillan, Siegel, & SubbaNarasimha, 1985; Riquelme & Rickards, 1992). Furthermore, there are a number of studies stated that relevant previous experience (in self-employment, the same industry or occupation) affects success as a business founder (Reuber & Fischer, 1999; Brderl et al., 1998; Luk, 1996; Cooper, Gimeno-Gascon, & Woo, 1994). Entrepreneurial experience has also been found to be conducive to business performance (Ronstadt, 1988). Some research evidence by Chandler and Hanks (1994) have shown that founders' skills moderate the relationship between (1) the abundance of opportunity in the economic environment of the venture and (2) venture performance. In the service industries, the quality and experience of the service personnel is frequently viewed as an inimitable resource that contributes to the competitive advantage of the venture (Groonroos, 2000; Schneider & Bowen, 1995). Studies also show that the kinds of experience that founders bring into a
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business have received attention from researchers who are attempting to explain why certain business founders are more successful than others (Reuber & Fischer, 1999). Yet sometimes, experience is the most excellent educator, but simply if one learns from the experience. Notwithstanding, human resource is a clear distinction to be focused on, as all areas of human resources are found to have significant relationship with venture growth. Besides, prior experience as an entrepreneur is a good predictor of reventuring and can contribute to a successful path (Ronstadt 1988; Vesper, 1980). Van Praag (2003) wrote that experience in the same industry as the business venture gives better chances, and so does experience within the same occupation. These prove studied by Sharir and Lerner (2006), of the 13 successful entrepreneurs; seven had previous managerial experience, the salience of which is patently demonstrated in Etgarim, (The Organization of Challenging Outdoor Sports and Active Recreation for the Disabled in Israel).

Other theorists have pursued this idea is by Reynolds (2007) and he identified the following primary factors affecting founding success: start-up activities to produce a good/service; start-up activities to develop a presence for the new firm; business experience, particularly in the same industry; start-up activities to create a financial and organizational structure; the start-up teams financial commitments; and, the concentration of resources and speedy completion of start-up activities. This is also supported by Panda (2008) says that previous experiences lead to the success of the entrepreneurs. For example, Lee and Denslow (2005) in their study have found that lack of capital and lack of experience is one of the major factors affecting entrepreneurial success. Research evidence showed that education and entrepreneurial experience have a positive impact on performance (Cooper & Gimeno-Gascon, 1992; Robinson & Sexton, 1994; Bowen & Hisrich, 1986). What matters is not the quantity of experience one has but how much one has learned from that skill. Finally, Reuber and Fischer (1994) provide evidence that expertise mediates the relationship between founder experience and venture performance, with expertise in such key areas as strategic planning, globalization, financing, and strategic alliance formation being more consequential for performance than expertise in back office functions. The previous experience of founders is likely to be most influential when initial start-up decisions are being made. Thus, the following proposition (P) is suggested for empirical testing is: P1 (b): The presence of experienced entrepreneurs will be positively associated to the success in entrepreneurship 2.2.3 Skills and Knowledge of Entrepreneurs

Skills and knowledge are particularly important to performance in emerging market industry and may impart more entrepreneurial opportunities attractive as well as leads to the successful entrepreneurs. Many
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researchers have acknowledged the fact that management skills can be acquired and personal qualities have a strong influence on the management skills/ competencies of the entrepreneur (Baum et al., 2001; Chandler & Jansen, 1992; Ibrahim & Goodwin, 1986; Pavett & Lau, 1983 ; Schein, 1987; Westerbergetal, 1997). For an example, Capron, Dussauge, & Mitchell (1998) highlight how firm performance responds favorably when related managerial capabilities developed in other companies are brought to bear in new situations. With regards to this, Tanriverdi and Venkatraman (2005) also find that the simultaneous application of product, customer and managerial knowledge relatedness across different business units improves the market performance of multi business companies.

According to Shane (2000), an entrepreneur can discover only those opportunities related to his/her prior knowledge. The prior knowledge creates a knowledge corridor that allows him/her to recognize certain opportunities, but not others (Ardichvili et al., 2003). Literature revealed that the management skills of an entrepreneur refer to knowledge, skills, and/or abilities required managing a venture (Sambasivan, Abdul, & Yusop, 2009). Another study of Hood and Young (1993) found that financial management, accounting, marketing and sales were meaningful skill areas of successful entrepreneurs. Hence, to be successful, (Malecki, 1997) argues, entrepreneurs must know how to integrate scientific knowledge, facts, and management techniques with contextual experience. All propagated by additional studies accomplished that an entrepreneurs management skills were favorable to business performance and development (Cooper & Gimeno-Gascon 1994; Ronstadt 1984; Bird, 1995).

Thus, new ventures rely on whatever knowledge resources are brought to the table by the founders (Brush, Greene, & Hart, 2001). Empirical studies and based in his consultancy practice, Gerber (2001) points out those small businesses are founded mostly by technicians, specialists, or professionals in certain fields and most of entrepreneurs perform their own technical work with high quality and efficiency, but seldom are management and managerial skills neglected. Similarly, several academic researchers have examined the effectiveness and support initiatives focused on providing entrepreneurs with the abilities and insight to develop their businesses (De Faoite, Henry, Johnson, & Van der Sijde, 2003). A mixture of studies found that some key factors may lead to the business failure were due to the lack of management skills or competencies (ONeill & Duker, 1986; Terpstra & Olson, 1993) and the other perspective concluded that management skills of entrepreneurs were conducive to business performance and growth (Bird, 1993; Cooper & Gimeno-Gascon, 1992; Ronstadt, 1984). Moreover, scholars argued that successful entrepreneurs were typically able to employ a host of various skills in areas such as financial management, accounting and marketing (Hood & Young, 1993). As reviewed by
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Barkhamm (1994), he examined the level of new firms turnover using a dataset of 304 new firms in several regions of the UK, and found the positive effects of the entrepreneurs high motivations for growth, managerial skills, and previous knowledge of specific market on their post-entry turnover. The management skills can be general (decision-making ability, conceptualization, ability to process information effectively, leadership skills, presentation skills, diagnostic use of concepts and use of power) and/or specific (technical skills and industry skills). In recent times, Lussiers and Pfeifer (2001) empirically established that in addition to competencies and personality traits, human capital of individual entrepreneurs play a role in contributing to the success of entrepreneurs. Their study found that entrepreneur with higher education level, industrial and managerial experience, and business exposure has greater chance of succeeding than people without tertiary education, minimal industrial and managerial experience, and with little or no business exposure.

Our study supports Brush, Greene, and Hart (2001) argument that they conclude, one of the biggest challenges facing new ventures is transforming the founder CEOs personal knowledge of the industry, market, and product into organizational resources. Management of prior knowledge is an important factor in opportunity recognition. Furthermore, in the literature exposed that three major dimensions of prior knowledge are important to the process of opportunity recognition: prior knowledge of markets, prior knowledge of ways to serve markets, and prior knowledge of customer problems (Ardichvili, et al., 2003). Studies in service industries such as tourism and hospitality offer some insight into identifying firm resources capable of generating sustainability, including proper communication and coordination skills, behavioral performance skills, information exchange skills and speed of transaction management competency (Lundberg, Krishnamoorthy, Stavenga, 1995; Olsen, West, & Tse, 1992). This argument is supported by Lerner and Haber (2001) and they found that good managerial skills were critical to performance of the small tourism venture.

A lot of researches have acknowledged the fact that prior knowledge of a market, industry, or customer needs can be a major advantage for entrepreneurs in terms of recognizing potentially profitable opportunities (McKelvie & Wiklund, 2004; Shane, 2000). These studies have argued that prior knowledge of customer needs and ways to meet them greatly enhances entrepreneurs ability to provide innovative solutions to these problems and thus recognizing potentially valuable business opportunities (Baron, 2007). Three types of procedural knowledge are important (Wiklund & Shepherd, 2003): knowledge about the industry, knowledge about the type of business and knowledge about starting up new ventures. Findings from Haber and Reichel (2007) stated that there are 305 small tourism ventures in
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Israel showed that the entrepreneurial human capital, particularly managerial skills, was the strongest contributor to small venture performance from both short- and long-term perspectives.

Hence, this prior knowledge, through entrepreneurial alertness, ultimately helps entrepreneurs discover innovative ways (opportunity recognition) to satisfy the needs of the customers through new products, services and processes (Sambasivan, et al., 2009) and for that reason role and management of information in opportunity recognition indeed are critical in high-technology domains (Ozgen & Minsky, 2006). Therefore, based on the above argument, we may infer that proposition (P): P1 (c): The higher skills and knowledge of entrepreneurs leads to greater likelihood to the success in entrepreneurship 2.2.4 Cultural Attitudes towards Entrepreneurship

Cultural attitudes also one of the mechanism that contribute to the entrepreneurial success and it would positively related to motivating force for the business growth. This indeed, supportive by Gnyawali and Fogel (1994), entrepreneurship may not prosper if most members of the society view it with suspicion. Consequently, a constructive approach of the general public toward entrepreneurship and an extensive public support for entrepreneurial behavior are both needed to encourage people to start a new business. As Lui and Wong (1994) found Hong Kongs economy is structurally conducive to Chinese entrepreneurs in two ways; first, the expansion of the economy in the past few decades has given rise to many new forms of economic activities which are open to entrepreneurial ventures and second, the structure of the economy encourages people to appropriate opportunities opened up in the process of economic development in the forms of small businesses and self-employment. In fact, as pointed out by Gnyawali & Fogel (1994), they revealed that social factors may be equally important as availability of loans, technical assistance, physical facilities, and information. In the Czech and Slovak Republics, negative public attitudes toward entrepreneurs discouraged entrepreneurs (Swanson & Webster, 1992). Another study of Mokry (1988) proposed that local communities can play an important role in developing an entrepreneurial environment. Authors such as Swanson and Webster (1992) propagated that with the development of social prejudice against business entities may result to small business become a victim of social justice.

For instance, close relatives can assist entrepreneurs inquire about solutions, locate resources, and assemble a team of willing people to address the entrepreneur's problems (Kao, 1993) and together with social norm also represents the attitude of fellowmen towards entrepreneurship (Grundsten, 2004). In the study of Scholten, Kemp, & Omta (2004) found that the image of entrepreneurship have a positive effect
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on entrepreneurial intention. Moreover, the societies and cultures that value entrepreneurship tends to develop societal systems to encourage it (Vesper, 1983). In fact, Lui and Wong (1994) put forth the claim that cultural value analysis is in tension with another conceptualization that emphasizes strategizing behaviour. Overall, the strategizing behaviour simply refers to using sets of strategic actions in achieving specific goals. This argument is supported by Stites (1985) study of industrial workers in Taiwan and The foregoing discussion shows that the Chinese entrepreneurial ethic are credible examples to illustrate this second paradigm and its tension with the cultural value analysis (Harrells, 1985). Positive attitudes of the surrounding community concerning entrepreneurship are likely to increase ones desire to engage in entrepreneurial activities and more specifically, individuals who experience a positive view on entrepreneurship among their immediate contacts are more likely to have greater intention to become entrepreneurs. For example, it is often recognized that among people of Chinese origin, entrepreneurial role models encourage people to go into business supported by close networks of family members and relatives (Kao, 1993; Siu & Martin, 1992). Thus, the above analysis suggests the following proposition (P): P1 (d): The cultural attitudes towards entrepreneurship would be positively related to the success in entrepreneurship 2.2.5 Proximity of Entrepreneurial Universities

A low level of education and exposure could prevent motivated entrepreneurial movement in their surroundings. Undoubtedly, we suppose that the proximity of entrepreneurial universities does indeed have a positive relationship to entrepreneurship. Etzkowitz (1983) coined the term entrepreneurial university to describe institutions that have become critical to regional economic development. Entrepreneur education and its relationship to performance have been widely examined (see for example, Bird, 1989; Cooper, et al., 1994; Robinson & Sexton, 1994). Not surprisingly, the entrepreneurial movement within universities been met with both enthusiasm and resentment as the scholarly community struggles with the ethical implications of such activities (Mowery, Nelson, Sampat, & Ziedonis, 1998). As such, developing a more entrepreneurial culture can be regarded as the essential mechanism through which universities become effectively involved in economic development (Fairweather 1990; Hagen, 2002).

Despite inconsistent findings with regard to the impact of education (Bird, 1989; Ronstadt, 1984; Cooper & Gimeno-Gascon, 1992) concluded in meta-analysis significantly positive relationships between education and performance. The similarities in their views are summarized here which the importance of
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academic entrepreneurs is widely accepted and is linked to a common view that an appropriate prevailing institutional culture is critical to successful entrepreneurial activity (Glassman, Moore, Rossy, Neupert, Napier, Jones, & Harvey, 2003). In addition, spillovers from universities, as well as from private firms, have been identified as key sources promoting firm innovation and performance (Stuart & Sorenson, 2003; Hall, Link, & Scott, 2003). Certain substructure components give the impression to make considerable impact on the entrepreneurial environment. These components include the existence of universities and research and development programs, a well-educated and technically skilled labor force and modern transport and communication facilities that provide easy access to suppliers and customers (Bruno & Tyebjee, 1982; Gartner, 1985).

Research evidence by Clark (1998) has shown that there are the relation with the concept to universities attempts to reform them and to become more entrepreneurial by strengthening their steering core, enhancing the development periphery, widening the funding base, stimulating the academic heartland and promoting an entrepreneurial belief. As Saxenian (1994) points out, one of the important mechanisms facilitating knowledge spillovers involves the mobility of human capital, embodied in graduating students, as they move from the university to a firm. The entrepreneurial university is thus related not only to the university mission and tasks, but also to the organizational form, the deeply embedded activities and procedures, and the working practices and goals of individuals and research groups. It thus implies entrepreneurial action, structures and attitudes within the university (Rinne & Koivula, 2005). Moreover, in the literature, (Zhou & Peng, 2008) define the entrepreneurial university as the university that strongly influences the regional development of industries as well as economic growth through hightech entrepreneurship based on strong research, technology transfer and entrepreneurship capability. Likewise, as (Varga, 2000) shows, university graduates may be one of the most important channels for disseminating knowledge from academia to the local high-technology industry. Analyzing patent citations, (Jaffe, Manuel, & Rebecca, 1993) found that knowledge spillovers from academic research to private industries have a strong regional component (see also Arundel & Geuna, 2004) for the importance of proximity for the use of public science). This could be perceived as an institutional characteristic an institution aiming to foster enterprising individuals (Gibb, 2005) and to change and take risks (Barnett, 2005), its faculties and staff operating as academic entrepreneurs within the university and capable of innovating and sustaining technology transfer beyond it (Shattock, 2005). Without a doubt, we believe that universities ought to take steps to encourage entrepreneurial movement in their environments. Thus, the dual role of the modern academic mission now requires universities to not only serve society by
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educating students, but also to foster research that can be developed into commercially viable products and technologies (Kirby, 2005). Based on the above arguments, we may derive the proposition (P) that: P1 (e): There are positive relationship between proximity of entrepreneurial universities and the success in entrepreneurship 2.3 2.3.1 Entrepreneurial Supports and Governmental Policies Business Angels and Risk Capital Availability

Entrepreneurs need capital support services in order to develop their business. The business angels and risk capital would be as an addition support to financial assistance. They all have versatile and differing venture criteria and may give more by approach of support particularly to premature phase SMEs than just capital. Research has shown that creation of investment companies, provision of low-interest loans, and availability of credit guarantee schemes for small business financing have all contributed to the establishment of new businesses (Dana, 1987; Harrison & Mason, 1988; Hawkins, 1993). From early on, venture capital availability was proposed and recognized as contributing to firm formation, as determined by Bruno and Tyebjee (1982) in a review of 17 papers on environmental factors influencing venture creation. Venture Capital firms are seen as having an edge over banks as a source of finance for new firms, especially specialized technology-based firms. According to Keuschnigg and Nielsen (2000), recently the finance literature on venture capital has grown considerable, both theoretical and empirical (Gompers & Lerner, 1999; Repullo & Suarez, 1998; Bergemann & Hege, 1998; Cornelli & Yosha, 1997; Sahlmann, 1990).

Venture capital firms availability are entities, typically limited partnerships or limited liability companies, which increase funds from high net worth individuals and institutional investors to invest in a portfolio of business ventures with hope of a high return on investment. In addition, this view were supported by Brewer and Genay (1994) in their analysis of the performance of Small Business Investment Companies show that venture capital firms holding a higher proportion of debt claims have significantly higher returns on their own stock. Therefore, as conclude by Garmaise (2007), this result is particularly striking in that one would expect equity claims to be riskier, so venture capital firms that hold a greater proportion of their assets in equity would, prima facie, as be expected to realize higher returns.

The other theorist have pursued this idea is argued that support from informal network such as friends, relatives, previous employers and acquaintances have found also to benefit the business (Rose, Naresh Kumar, & Yen (2006b). Even people initial with their personal capital are as successful as those who initiate with liability resources. Besides, Gompers (1994) stated that entrepreneurs typically regard
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venture-capital firms as no more than a source of capital, while venture capitalists themselves claim that they play a strong advisory role in the firms they finance. The literature on Garmaise (2007) suggests that large and successful venture-capital firms are much more likely to be regarded as expert by entrepreneurs than their more humble competitors are. As several studies that have estimated that, total informal capital investment is multiple times that of formal venture capital (Harrison & Mason, 1992). Moreover, this finding confirms the importance of informal investment relative to other forms of financing (Reynolds et. al., 2002). Empirical studies of Kortum, Samuel, & Lerner (2000) found that venture funding increased patented inventions from using data on 20 manufacturing industries for the period 1965 to 1992. By distinction, as shown by several authors, venture capitalists often hold seats on the borrowing firms board and voting rights far in excess of their cash flow rights, and they could have the contractual right to replace the entrepreneur with a new manager if covenants are violated (Kaplan & Stromberg, 2003; Sahlman, 1990). In fact, Ueda and Hirukawa (2008) confirmed that this positive impact continued to be present and became even stronger during the venture capital boom of the late 1990s. In recent times as surveyed by Hellmann, Laura, & Manju (2008) using data on 10,578 companies over 1980 to 2000, they found that having had a prior relationship with a company in the venture capital market increased a banks likelihood of subsequently granting a loan to that company and that the relevant companies benefited from this relationship not only through more readily available loans but also through more favourable loan pricing. Comparability as revealed by Chemmanur and Chen (2003), venture capitalists can add value to some of the firms they finance, but angels cannot and therefore as confirmation for this, Hellmann and Manju (2000) find that innovator firms are more likely to obtain venture capital financing than are imitator firms. Eventually, Feldmann (2010) showed that so far, there are only few empirical studies analyzing the impact of venture capital on labor market performance and almost all of them take a micro econometric approach. His papers results confirmed the theoretical arguments suggesting that access to venture capital may have been an important determinant of industrial countries labor market performance since the early 1980s. In line with this matter, Norton and Tenenbaum (1993) show that smaller venture capital firms, measured by asset size, hold a greater proportion of their investments in equity stakes. Therefore, several aspects of small-business finance may be explained by positing that banks and venture capital firms possess project evaluation skills that are superior to those of entrepreneurs (Garmaise, 2001).

Business angels are private investors who provide risk capital to new and growing businesses in which they have no family connection (Mason & Harrison, 1995). Beyond their importance in funding, there are also a large number of them in North America. Riding (2008) identified that, in year 2004, amount of
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15,800 business angels in Canada invested about $2 billion in companies. Similarly, for example, (Mason & Harrison, 2000; Mason, 2006; Kelly, 2007) identified the importance of fund raising from third parties to facilitate the growth of new technology ventures. Amongst new firms that raised external equity capital, most raised it from angel investors as opposed to institutional venture capitalists (Fenn & Liang, 1998).

A similar study examined by Sohl (2003) provided comparative information for the U.S., where business angels invested $22.5 billion in 48,000 ventures in 2004. This makes understanding business angels decision making very important. Mason and Harrison (1999, p. 26) have estimated that there are approximately 18,000 Business Angels that annually invest sums in the region of 500 million. As articulated by Madill, Haines, & Riding (2005), since existing investment from business angels is often a prerequisite for obtaining investment from venture capitalists, increasing the number of business ventures that receive funding from business angels is of interest to all potential investors. In view of the above, we may deduce that proposition (P): P2 (a): The business angels and risk capital would be positively associated with the success in entrepreneurship 2.3.2 Availability of Financial Resources

Generally, entrepreneurs need and require financial support for their business. Financial resources prospects concern to affluence formation, which is ordinarily suppose as a right need for all varieties of different individual conducts. As reviewed by Gnyawali and Fogel (1994), in most developing countries and emerging market economies, only a few venture capital companies and commercial banks are available and alternative sources of financing are almost non-existent and as a consequence, a paradox emerges: entrepreneurs cannot start a business without financial assistance; they do not have access to financial institutions and cannot secure financial assistance if they lack prior business experience. This argument is supported by Bruno, Leidecker, & Harder (1987) studied ten failed high-technology firms and concluded that there were three major reasons for the failure: 1) financial difficulties, 2) product/market problems and 3) managerial problems. It was found that formal support sources were hardly used, the institutions mostly mentioned were banks (Birley, Cromie, & Myers, 1991). According to Aidis and Adachi (2005), ten years ago, it was possible to start-up a business with very little capital and most entrepreneurs could rely solely on their personal savings. However, the costs have increased because of competition and the need to enter at a higher level of sophistication. As reported in Davis (2003), fully 90% of start-ups are not supported by venture capital and more than 95% of small-firm financing comes from sources other than venture capital, particularly commercial banks.
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The foregoing discussion shows that in the US, availability of financial resources was an important contributor of organizational birth rate (Pennings, 1982). Hence, Winton and Yerramilli (2008) identified, because entrepreneurial firms are usually small and have high risk of failure, both venture capital and bank loans require careful monitoring of borrowers. Both types of finance use covenants to restrict the borrowers behaviour and provide additional levers of control in the event that the firm performs poorly. Financial expectations refer to wealth creation, which is commonly held as a powerful motivation for all kinds of different individual behaviors (Birley & Westhead, 1994). Studies also show that, it is generally agreed that such finance originates from four main sources; first, personal savings (including contributions from family and friends); second, debt financing (including hire purchase and leasing), normally through a commercial bank; third, soft loans supported by central government; and finally, equity funding via venture capital and informal investment (Jarvis, 2000).

As reviewed in Walker and Brown (2004), traditional measures of business success have been based on either employee numbers or financial performance, such as profit, turnover or return on investment (see also: Barkham, et al., 1996; Bruderl & Preisendorfer, 1998; Forsaith & Hall, 2000; Gray, 1998; Ibrahim & Goodwin, 1986; Kalleberg & Leicht, 1991; Kelmar, 1991). Whereas bank loans usually take the form of pure debt, venture capitalists almost always employ convertible securities or a combination of debt and equity (Kaplan & Stromberg, 2003). A number of studies have also established that lack of finance is a barrier for businesses in transition economies (Pissarides, 1999, 2004; Kaganova 2002; Aidis 2003; Aidis & Sauka, 2005). Furthermore, Landier (2003) wrote, an economys entrepreneurs choose safe projects backed by bank debt and low monitoring if the stigma associated with failure is high and risky projects backed by venture capital finance and high monitoring if the stigma associated with failure is low. Notwithstanding

Pennings (1982) found that generally entrepreneurs require financial assistance for at least one of three purposes: to diversify or spread the start-up risk, to accumulate start-up capital, and to finance growth and expansion while availability of financial resources appears to be a major predictor of the frequency of new business start-ups, many lenders seem to be unwilling to invest in high-risk projects or tend to withhold support until the firm has been established successfully. Much of the concern, Landier (2003) offers an analysis of bank finance and venture capital based on the assumption that there is a stigma that attaches to an entrepreneur if a project fails. The liquidity of financial systems as it influences entrepreneurial thinking tends to vary along a continuum between equity-focused financial systems and bank-based financial systems, which is the process by which capital is made available and priced
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(Whitley, 1999). Variations in the strength of this stigma differentially affect bargaining between an entrepreneurs and either a bank or a venture capital, leading to a characterization of when bank or venture capital finance might be preferred (de Bettignies & Brander, 2007). Marlow and Patton (2005) study matches and argued that equity finance is provided through two major channels; first, on a formal basis where funding is provided by banks, special investment schemes, and dedicated venture capital companies in exchange for a significant share of the firms equity. Second, the informal market which is based on personal investment through business angels who have a certain amount of disposable income which they choose to invest in firms with the anticipation of an agreed level of return should the firm attain anticipated performance targets. Most apparently, bank finance is normally in the form of loans, whereas venture capital finance consists primarily of equity (Kaplan & Stromberg, 2003).

As such, an equity-based financial system is perceived to enhance entrepreneurship and economic growth more than a bank-based financial system (Levine, 2002). The similarities in the views was affirmed by George and Prabhu (2002) highlight the role of developmental financial institutions in fostering entrepreneurship in emerging economies through lending policies and prioritization of national industrialdevelopment goals. The majority of formal equity capital funding is directed at Management Buy Outs or Buy Ins where business and managerial track records are already established, rather than new businesses (Bank of England, 2001). Therefore, the next proposition we would suggest proposition (P) for empirical testing is: P2 (b): The more favourable availability of financial resources, the greater ability to the success in entrepreneurship. 2.3.3 Government Influences and Supports for Entrepreneurship

Government influences and supports for entrepreneurship is very crucial to promote the entrepreneurial development in order to guarantee SMEs future business success. Thus, it will contribute to the greater ability and power to the success factors in entrepreneurship. In developing areas, satisfactory government support has been shown to be important for small firm success (Yusuf, 1995). The need for such motivational factors is generally higher in countries where entrepreneurial awareness is low than in countries where such awareness is high (McClelland, 1961). In addition, there are five major areas of government support programs for SMEs in Malaysia, among which are: Financial and credit assistance; technical and training assistance; extension and advisory services; marketing and market research; and infrastructure supports (Abdullah, 1999b). Based on (Hawkins, 1993) study, he found that in Japan, 52 credit guarantee associations exist to guarantee loans to SMEs; local governments have special funds that serve as a reserve for loans to SMEs. Government support is vital to cultivate SMEs expansion and
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authorized aspects are used in selection operating resolution in order to guarantee SMEs upcoming business achievement. Therefore, as supported by Yusuf (1995) in his study that government support is one of the critical success factors for small business in South Pacific. By their actions, governments substantially influence the economic and non-economic opportunities essential to the creation of the conditions that lead to the development of business ventures (Wilken, 1979). Corresponding to Haber and Rachel (2007), governmental financial support for developing small ventures becomes essential input for their long-term economic prosperity. In this sense, Gnyawali and Fogel (1994) mentioned that, governments could influence the market mechanisms and make them function efficiently by removing conditions that create market imperfections and administrative rigidities. They can also create an "enterprise culture" that enables firms to take reasonable risks and seek profits. In many cases, dealing with legal aspects has forced the SMEs to allocate significant amount of financial resources due to bribery practices. Legal aspect is often also used in selection operating decision in order to ensure future business success (Mazzarol & Choo, 2003).

Thus, governments in growing countries play a role in promoting and supporting companies by providing incentives and infrastructure. In the contrary, entrepreneurs may be discouraged to start a business if they have to follow many rules and procedural requirements, if they have to report to many institutions, and if they have to spend more time and money in fulfilling the procedural requirements (Dana, 1987; Young & Weisch, 1993). Without a doubt, government procurement programs and subsidies for research and development are also important for entrepreneurs (Goodman, Meany, & Pate, 1992). As a consequence, governments have a central role in supporting ventures whose success potential is not necessarily visible in the short term, but which may have a significant contribution to economic development (Hustedde & Pulver, 1992). Indeed further research has shown that provision of management and entrepreneurship training programs, various forms of start-up incentives (e.g., exemption of custom duty, tax concession) and provision of consulting services enable a person to start a business (Dana, 1987; Hawkins, 1993).

Moreover, an extra measurement of the environment is the governmental and supporting environment. Overall, these showed that governments in many countries are actively contemplating measures, both at the local and state levels, to stimulate entrepreneurial activity and to ensure that adequate financing and advice is present to back up business formation (Keuschnigg & Nielsen, 2000). Thus, from the above, we may infer the proposition (P) that: P2 (c): The more favourable government influences and supports for entrepreneurship, the higher ability to the success in entrepreneurship

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2.3.4

Role of Government Policies on Entrepreneurial Activity

Government policies and procedures may determine the market instrument and make them function expeditiously. The government support policies are one of the key elements for hastening the emergence of entrepreneurs. In the literature, government policy shapes the institutional environment in which entrepreneurial decisions are made and hence, can influence the allocation of entrepreneurial activities (Baumol 1990; Bowen & De Clercq, 2008; Minniti; 2008) and there is empirical evidence from a wide range of settings that established legal systems can increase the overall likelihood of entrepreneurial success (for an analysis see Ingram & Silverman, 2002) of particular importance is the establishment of enforceable property rights for the exploitation of entrepreneurial opportunities (Anderson & Leal, 2001; De Soto, 2000). In Lundstrom and Stevenson (2001) research have shown and described the entrepreneurship policy as a collection of measures taken to stimulate more entrepreneurial behavior in a geographic area. This is also supported by Young and Welsch (1993) with the situation in Mexico, which is the key barriers for business start-up, included excessive government regulation, high rates of taxes, and increasing inflation. Similar examples can be found in many scholars that focused on the role of public policy (El-Namaki, 1988; Goodman, et al., 1992; Mokry, 1988; Vesper, 1983; Westhead, 1990) and they suggest several policy options for developing entrepreneurship. These policy options include provision of venture capital funds, tax-based incentives, and government procurement programs; protection of proprietary ideas and innovations; investment in education and research; explicit recognition of, and support for, entrepreneurship by government agencies; fostering of entrepreneurship by educational institutions; and minimization of entry barriers.

In succession to create people be aware of the value of being entrepreneurs, the government and also the business organizations can manage certain entrepreneurship programs and courses to the publics. Ideally, Lundstrom and Stevenson (2002) specified two important facts that contribute to differentiate both policies. The first one is that SME policy has a focus on the existing stock of SMEs, and entrepreneurship policy is more encompassing in that it includes potential entrepreneurs and the existing stock of enterprises. This means that entrepreneurship is focused on the process of change and multiple units of organization and analysis, while SME policy is concerned with the enterprise organizational level. The second one is that virtually every country has a ministry or governmental agency charged with promoting the viability of the SME sector. For example, in their recent research Van Stel, Storey, & Thurik (2006) find that business regulations have direct and indirect impact on the entrepreneurship rate. Based on Lim, Morse, Mitchell, & Seawright (2010), they argued that a legal system with stronger property rights protection and less regulatory complexity (Soto, 2000) positively influences the level of entrepreneurship
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by shaping the entrepreneurial scripts of individuals within that society because of its entrepreneurial munificence. In addition, tax and other start-up incentives have a greater impact when people have greater motivation to go into business (Davidsson, 1991) and conversely, the restrictive regulations, crippling tariffs and taxes can disable any entrepreneurial effort (Sebora, Lee, & Sukasame, 2009). Many commentators have noted how regulation and taxation present a number of challenges and, in some cases, barriers to the development of SMEs (Chittenden, Poutziouris, & Michaelas, 2000). According to a recent The Global Entrepreneurship Monitor (GEM) report, Thailand has the highest rate of entrepreneurship activity in Asia (Reynolds, Bygrave, Autio, & Hay, 2002). For an example, Gray and Sanzogni (2004) found that the government support policy is a key component for accelerating the growth of e-commerce entrepreneurs in Thailand because the achievement of the highest rate of entrepreneurial activity by Thais comes from the encouragement and support of the Thai government (Sebora, et al., 2009).

The government policies influence new venture creation throughout legislation and regulation, licenses, taxation, etc. Similar example can be found in the public discussion the role of taxation is a relatively common topic concerning policies that affect entrepreneurship (Grundsten, 2004). In Virgin Islands, tax concession on all businesses for ten years, tax concession for hotels for twenty years, and exemption from custom duty on imports of capital equipment facilitated the development of entrepreneurship (Dana, 1987) as well as the similar situation of Cayman Islands, which is their government guarantee not to tax businesses for 20 years in order to attract the amount numbers entrepreneurs. Recently, another study of Belso Martinez (2009) stated that the objective of entrepreneurship policy is aimed at increasing the supply of new entrepreneurs and new businesses as well as their early stage survival and growth and thus, this public policy to promote entrepreneurship can be broadly considered under that aimed at the macroeconomic environment, the micro level (supporting individual firms), and the entrepreneurial culture. Hence, an effective government policy to decrease unemployment is to stimulate the number of new businesses and therefore, both practical experience and academic research point to the importance of public policy in creating the conditions under which entrepreneurial companies can flourish (Hart, 2003). Since government policies are often designed to offer innovative incentives and challenge the dominant paradigm of separating environmental and business concerns (Gladwin & Kennelly, 1995), it is understandable that such policies would be more effective in regions where there is a low value of conforming. A GEM report provides conclusive evidence that promoting entrepreneurship and enhancing the entrepreneurship dynamic of a country should be an integral element of any governments commitment to boosting economic well being (Reynolds, 2000). Public institutions provided by the state

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an also directly influence the direction of industrial sectors through providing incentives, such as tax breaks, to encourage the creation of entrepreneurial ventures (Audretsch, Grilo, Thurik, 2007).

Taxation is clearly significant in affecting the `upside' of the risk reward calculus for potential entrepreneurs (Gompers & Lerner, 1998; Poterba, 1989a; 1989b; Rees & Anup, 1994). Several studies were found as explored by Feindt, Jeffcoate, & Chappell (2002) identified that a supportive government can nurture entrepreneurial activity by giving the free market an opportunity to operate under the laws of supply and demand. In its promotion of e-commerce ventures, the government can play two positive roles in the development of e-commerce: (1) direct promotion through applications of e-commerce principles in government administration and procurement, and in the provision of public services; and (2) facilitation of the development of e-commerce through the provision of a legal, regulatory, and infrastructural environment that encourages the development of e-commerce (Organization for Economic Co-operation and Development 1999).

The other view stated that the British tax system disproportionately affects the financial development of high-technology start ups and constrains their growth potential (Poutziouris, Chittenden, Michaelas, & Oakley, 2000). In reality, Gentry and Hubbard (2004) found that the level of the marginal tax rate and the progressive character of tax have a negative effect and discourage entrepreneurship and therefore, government may provide a general economic framework which actively encourages growth and at the same time removes unnecessary restrictions or burdens (Hall, 1996). On the subject of the Spanish case, Lopez (1998) argues that entrepreneurship policy and SME policy should not be confused and must be carefully distinguished. Eventually, according to Sarder, Ghosh, & Rosa (1997) there is contradictory evidence regarding the impact of such services from one study to another, from one country to another, and even within countries. In their Bangladesh study, they found that firms assisted by governmental as well as non-governmental support organizations performed significantly better than non-assisted firms. In general, the high entrepreneurship rating reflects both a high level of firm creation and the classification of existing firms as entrepreneurial (Acs, Arenius, Hay, Mininiti, 2004). From the above, we may derive the proposition (P) that: P2 (d): The role of government policies on entrepreneurial activity would be positively to the success in entrepreneurship As to summarize, from the literature review in the light of Gartner environmental dimension as mentioned, we propose the environmental situation in Malaysia into two proportions, which are the entrepreneurial culture and mindsets along with entrepreneurial supports and governmental policies.
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Figure 1 presents the integrated framework and the interaction we have assumed here between success factors in entrepreneurship and these variables.

Figure 1: A framework for describing Success Factors in Entrepreneurship

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3.

METHODOLOGY

As we mentioned before, this research was concerned generally to see how the environmental factors influence success in entrepreneurship particularly in Malaysia. The phenomenon (e.g., new business startups) and its context (e.g., the local business and community environment), according to Yin (1989), may not be readily distinguishable, thus he suggests that the case study definition include characteristics stipulating data collection and analysis requirements. Consorting the literature of Yin, in Case Study Research Design and Methods (2003), defines case study research as an empirical inquiry that investigates a contemporary phenomenon within its real-life context, especially when the boundaries between phenomenon and context are not clearly evident. The secondary research in this study is based on secondary resources that already exist. It included leaflets, newspapers, magazine articles, government publications, conference proceedings, reports, academic journals, books, statistics and unpublished manuscripts.

3.1

Rationale for the Case Study Methods

Case studies may have shortcomings that limit their usefulness in understanding a situation or evaluating a program. To induce the information requirements of the study, a proper methodology has to be chosen and appropriate tools for data collection and analysis have to be selected. Therefore, a qualitative research as a primary research enables researchers to be present detailed snapshots as it were of the participants under study. A case study approach is applied, in order to meet the aim and purpose of the study carried out with the use of semi structured interviews. The objective purpose of this case study is to experience the entrepreneurial success through the culture and mindsets and the entrepreneurial supports and governmental policies, and moreover, to report encountered findings observed from the selected theoretical perspective. This research technique was selected as it is useful for examining an experience in its natural settings (Benbasat, 1984). Yin (1989) recommends case studies when a researcher aims to expand and generalize theories (analytic generalization) and not to specify frequencies (statistical generalization.

Additionally, Yin suggests that the case studies when the researcher investigates a contemporary phenomenon within its real life context and boundaries between phenomenon and context are not clearly evident. Even though Yin (1989) stated that there are many ways to collect the qualitative data, this research is based on interviews performed companies in the sample selected. Hence, case study research is an all-inclusive research strategy that admits the improvement of a theoretical model, data collection, data analysis along with research model design. The case studies have been applied to this study because
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it provides a clear example of the success factors in entrepreneurship and the variability in usage as well as to describe entrepreneurial phenomena. And ultimately this study needs to find the appropriate issues for assumption and needs to confine the relationship with the dimension of the success factors. A total of four in-depth cases were used to infer theory from practice by exploring the environmental variables of the success factors in order to determine what the elements were would facilitate and contribute to the entrepreneurial success.

3.2

Case Selection

The impressions and expectations in entrepreneurship might be different, depending on which population or group is considered. Information collected for a case study, especially through personal interviews, may not perfectly reflect the situation. A biased answer may result from cognitive difference of opinion or an exposition view of the case on the part of the individual interviewed. As for the example, individuals interviewed a number of years after the establishment and operation of a business may not precisely reflect the challenges faced in entrepreneurial success from economic developers in the community. This needs to be taken into account when the sample is chosen. Thus, for this qualitative data collection methodology, the sample was selected from the subsequent criterions which are all the four companies were created after year 2002 and belongs to the combinations of both female and male entrepreneurs in a different sector industry. Criterions of the cases are as follows: a) A young adult men as a travel and consultant business which offers a wide spectrum of tourism services which includes corporate airline ticketing, worldwide hotel reservations, airport check-in service, incentive group travel, cruises and independent and group tours to any part of the world. b) A woman entrepreneur in food and beverages. This company is one of the new groomed SME in the state of Kelantan of Malaysia which popular with varieties of foods and tradition. The natures of business are food as well as spices production, spices repackaging and retailing. c) A young men entrepreneur in owned design and technology sector industry. His company as an independently owned design and technology with comprising designers, producers, developers and programmers idea into an engaging intelligent and innovative solution towards achieving users satisfaction. d) A matured women entrepreneur from south coast of Malaysia. The company runs retail, woman clothing, traditional herbs and school uniforms. Her financial wealth and stability inspire her more to become a successful entrepreneur with her own skills and interest.

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The rationale behind selecting different profile criterias of the respondents was to consent to key comparisons to be made. Therefore, the pilot case reports are mainly of the value to us and needs to be written clearly, even if in the form of the memoranda. If enough pilot cases are done in this manner, the final agenda may actually become a good prototype for the final case study protocol.

3.3

Data Collection

Case study research typically employs multiple data collection methods (Benbasat, Goldstein & Mead, 1987). Data for this study were collected through interviews. The sample was made up of the business owner or business founder who responded to questions regarding the success factors in entrepreneurship. The aim was to get each respondent to answer regarding several subject matters; they will were asked questions starting with the general organization profile; the entrepreneurial culture and mindsets as well as the last section about the entrepreneurial supports and governmental policies. In the end, in order to gather information on entrepreneurs perception and opinion on the success factors in entrepreneurship, four surveys were carried out in Malaysia. All interviewed and questions are followed by the literature review with the final version of the case study protocol showing in the Appendix 1. As mentioned by Yin (1988), a case study protocol is more than an instrument and the interview protocol was developed to guide the interview process (Kvale, 1996). Yin argues the protocol should contain the following sections: an overview of the case study project; field procedures and case study questions to be kept in mind when collecting data. Thus, having a case study protocol is desirable under all circumstances, but it is essential if we are using a multiple case design.

And therefore, in having a purposive sampling, we decide when enough participants or units have been sampled. This occurs when there is redundancy with regards to data. In this study, this was achieved after conducting four personal interviews. Yin (1994) suggested that the researcher must possess or acquire the following skills: the ability to ask good questions and to interpret the responses, be a good listener, be adaptive and flexible so as to react to various situations, have a firm grasp of issues being studied, and be unbiased by preconceived notions. Along these lines, the researchers received for predictable reasons different results from each individual case, i.e. theoretical replication occurred (Yin, 1989). The semistructured personal interviews were conducted by us. Semi-structured interviews are generally the most helpful, in that they tolerate full investigation of the topic and yet preserve a degree of structure, which ensures that for the most part of the information obtained is significant and controllable.

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3.4

Data Analysis

The main issue of studies executed using case-based qualitative research is deciding prior to the start of data collection as well as how much data to collect. To help address this problem, several steps were taken before hand including the development of a predefined framework and the outline for the case study reports:

3.4.1

Predefined Conceptual Framework

According to Miles and Huberman (1994), a conceptual framework explains either graphically or in narrative form, the main things to be studied are the key factors, constructs or variables and presumed relationship among them. A previous conceptual framework (see figure 1) showing the proposed relationship between the entrepreneurial environments dimensions and the success factors was developed and the potential link found from the construct of the literature.

3.4.2

With in Case Analysis

There is no standard format for within case study analysis and the process is typically accomplished through a detailed description for each case that provides the basic for generating insights (Eisenhardt, 1989). The process for this case study analysis as follows: as the interview were recorded, it be transcribed and coded with supported by a qualitative data analysis software package which is ATLAS.ti.

ATLAS.ti

The qualitative analysis and systematic analysis in this study will support by the qualitative data analysis software package ATLAS.ti which the narratives were analyzed by means of content analysis. The operating principle of ATLAS.ti is based on the technique of thematic analysis. By means of using ATLAS.ti, we processed and coded all data collected during the interviews, all notes taken throughout the interviews and those reserved in the log book and all secondary data from newspaper articles or any other documents provided by the businesses. Data analysis incorporated multiple case study analysis and crosscase comparison and was carried out using ATLAS.ti, a qualitative analysis software package for data management, coding, and retrieval. The purpose of this content analysis was to identify common themes across the entrepreneurial culture and mindsets and the entrepreneurial supports and governmental policies towards to foster the entrepreneurial success factors and to draw a contrast between the two dimensions.

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There are two main advantages of ATLAS.ti. Firstly, it extends the ability to deal with a huge quantity of interconnected themes with high degree of accuracy and of flexibility. Secondly, it enables the researcher to create the theoretical interpretation systematically during the actual process of the coding of the data. This makes inducive and explorative analysis more accurate. Initially, they were coded instinctively and then recycled as new codes emerged and provided more accuracy. Processing the data twice gave us a better understanding of each of the cases.

3.4.3

Cross Case Analysis

A cross case comparison of the cases was performed to determine whether there was consistency among the results of the individual case studies. A pattern matching technique was used as the primary mode of analysis to examine patterns occurring across the cases. Pattern matching provided the ability to examine the patterns of outcomes for dependent and independent variables derived from the research framework to determine whether pattern existed across them that could be used to establish analytic generalizations: analytic generalization involves generalizing a particular set of results to a broader theory (Yin, 2003).

In analyzing the data, a various processes recommended by Yin (1984) were adopted. The analysis of case study is one of the least developed aspects of the case study methodology. Hence, the qualitative data analysis tends to be mainly an inducive process of organizing data into categories and distinguishing patterns. We need to rely on experience and the literature to present the evidence in various ways, using various interpretations. This implied that collected data could not be statistically analyzed, but through a deep analysis of case studies. Yin (1994) delineates that data analysis consists of examining, categorizing, tabulating or otherwise recombining the data collected to address the initial focus of the case study. This entailed a literature review to learn about the various techniques of analyzing qualitative data.

The study aimed at collecting empirical understanding of the selected core concepts and phenomenon within the selected respondents. Yin (1994) suggested that every investigation should have a general

analytic strategy, so as to guide the decision regarding what will be analyzed and for what reason. He
presented some possible analytic techniques: pattern- matching, explanation- building, and time-series analysis. In general, the analysis will rely on the theoretical propositions that led to the case study. If theoretical propositions are not present, then the researcher could consider developing a descriptive framework around which the case study is organized. Thus, the above analysis was favoured for its potential to assist us to describe trends in the data and also determine whether there were relationships between variables.
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3.5

Criteria for Evaluation

There are two steps in developing a high quality case study (Yin, 2003). Firstly, it must articulate theory about what is being studied to help operationalized case study designs and make them more explicit. Secondly, it needs to maximize four conditions related to design quality which are a construct validity, internal validity, external validity and reliability. In addition, he mentioned that covering these components of research designs will effectively force the researcher to begin constructing a preliminary theory related to the topic of study. The preliminary theory related to this topic of study has been developed in a previous section.

According to Kidder and Judd (1986) as well as Yin (2003), they summarized that the basic of these four tests of quality measure in case studies are: a. Construct validity establishing correct operational measures for the concepts being studied (Yin, 2003). This was addressed in this study by collecting data through multiple sources review throughout the four case studies reports as well as to maintain chain of evidence from the respondents. This include by contriving case study protocol questions and asking questions throughout the interview sessions which efficiently captivated a comprehensive and rich understanding about the research study appropriate main issue.

b. Internal validity establishing a causal relationship, whereby certain conditions are shown to lead to other conditions as distinguished from spurious relations (Yin, 2003) and this was addressed by the use of pattern matching technique analysis. We used the standardized in the literature review and entail which we have to determine the established relationships between dependent and independent variables in this study.

c. External validity establishing the domain to which findings of study can be generalized by using replication logic in the multiple case designs (Yin, 2003). This was demonstrated in this study by using multiple cases for imitation logic to generalize the findings into the theory. Generally, the external validity or transferability, we refer towards the coverage to which the studys answer can be comprehensive ahead of the direct case study and applied to other cases of the research entire population.

d. Reliability demonstrating that the operations of a study such as the data collection procedures which it can be repeated with the same result (Yin, 2003). This proved from this research throughout the
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development of the research framework in order to guide the data collection and analysis with a case protocol and maintaining a case study database tracking for the study. Moreover, we illustrated by which level the mechanism is established and reliable with assessing the concept to allow paralleling the equivalent study using the similar technique, model and the data collection formed so as to gain the same results of the prior research.

This section has covered broadly some of the issues associated with collecting and organizing data for case studies of the choice of methodology used to conduct the present research. The section also detailed the approach used and conditions under which the various stages of investigations were carried out from the development of initial contacts, preliminary questionnaire, pilot survey and design and administration of the research instrument (questionnaire). Hence, we supported the choice of approach with a detailed description of the use of qualitative research and its benefit and this approach was customized to suit the requirements of the study as a whole.

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4.

FINDINGS

In this section, this research will expands on the development of the four cases has chosen, elaborates the preliminary concepts and codes extracted from the literature review, demonstrates the analysis and findings from the four cases using the within-case approach and continues with the cross-case analysis of the cases and finally to present a summary of the findings. All the findings throughout this section are as follows:

4.1

Development of the cases

The data analysis was based on the constant comparison method postulated by the Glaser & Strauss theory, with the aid of the ATLAS.ti version 6.2 software. The decision of selecting this software was based on the literature on qualitative data analysis software that pointed to the ATLAS.ti software as the best choice for data analysis and in particular for the theory building (Kelle & Laurie, 1995; Lonkila, 1995; Prein, Kelle, & Bird, 1995). Furthermore, according to Weitzman and Miles (1995) regarding the ATLAS.ti software: ATLAS.ti is a powerful, well designed, user friendly program for coding and interpreting text. But more than that, it provides an unusually wide range of powerful tools for theory building, such as a network editor that allows you to graphically create, manipulate and examine the logical relations (hierarchical or not) among your codes. You can also include text segments in your network views. The operating principle of ATLAS.ti is based on the technique of thematic analysis. By means of using ATLAS.ti, we processed and coded all data collected during the interviews, all notes taken throughout the interviews and those reserved in the log book and all secondary data from newspaper articles or any other documents provided by the businesses. Data analysis incorporated multiple case study analysis and crosscase comparison and was carried out using ATLAS.ti, a qualitative analysis software package for data management, coding, and retrieval. The purpose of this content analysis was to identify common themes across the entrepreneurial culture and mindsets and the entrepreneurial supports and governmental policies towards to foster the entrepreneurial success and to draw a contrast between the two dimensions. There are two main advantages of ATLAS.ti. Firstly, it extends the ability to deal with a huge quantity of interconnected themes with high degree of accuracy and of flexibility. Secondly, it enables the researcher to create the theoretical interpretation systematically during the actual process of the coding of the data. This makes inducive and explorative analysis more accurate. Initially, they were coded instinctively and then recycled as new codes emerged and provided more accuracy. Processing the data twice gave us a better understanding of each of the cases.

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In the first part on the analysis, an individual case analysis was developed and after that, a cross-case analysis was performed. For the analysis, we will start describing the elements found to correspond to the success factors in entrepreneurship construct studied. Then we will move to the entrepreneurial culture and mindsets and entrepreneurial supports and government policies elements found, and then the realized those elements. When using quotes from any interviewee to support a finding, we referred to the document source as the Primary Document Number (PD) associated with the interview transcript in which the quote is extracted from. Therefore, the distribution of PD identification numbers within the Hermeneutic Unit (HU) data analysis was used for the analysis of individual cases. For the analysis of the integration of the four cases, this study used a second HU named data analysis integrated where the codes were group into similar categories whereas the association between codes point to new network, although the PD identification numbers remained the same.

4.2

Preliminary Concepts

From the literature review, we identified and initial set of concepts and codes that are shown in Table 1. All this concepts were included in the interview protocol at some point, although, they were only referential because the idea was to extract the concepts and categories directly from the interviewee.

Concept/Code Entrepreneurial Success

Concise Explanations The simplest definition success is equivalent to continued business operations and the opposite, failure, means going out of business. The concept of success is defined in terms of financial performance, such as growth, profit, turnover or return of investment, or number of employees. The success of small firms was attributed to entrepreneurial, managerial, or other personality attributes of ownermanagers. Emphasizes the role of the entrepreneurs human capital, especially his or her age, and suggests a model that assumes the probability of a new firms survival is an increasing function of an entrepreneurs age. Interest in the role of personality in Entrepreneurship has recently seen a re-emergence after a hiatus of almost 20 years. In the person dimension, cohabitation turns out to be much more influential, although this characteristic has not yielded consistent results so far. Founders current skills could predict the performance of their ventures and that their predictive ability varied across economic environments.

Reference Simpson, Tuck, and Bellamy (2004)

Walker & Brown (2004), Simpson, et al. (2004), Paige and Littrell, (2002), Greenbank (2001) Wijewardena and Tibbits (1999)

Entrepreneurial Role Models

Cressy (1996)

Zhao, Seibert and Lumpkin (2010)

Davidsson (2006)

Presence of Experienced Entrepreneurs

Herron & Robinson (1993)

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Skills and Knowledge of Entrepreneurs

Entrepreneurs who have the necessary competencies especially in the area of operations, finance, marketing, human resources and management skills required for the business are more likely to be successful at start-up. Management skills can be acquired and personal qualities have a strong influence on the management skills/ competencies of the entrepreneur.

Peterson, Kozmetsky and Ridgway (1983), Praalad and Hamel (1990), Swierez and Spencer (1992) Baum et al. (2001), Chandler and Jansen (1992), Ibrahim and Goodwin (1986), Pavett and Lau (1983), Schein, (1987), Westerbergetal (1997) Tanriverdi and Venkatraman (2005)

Cultural Attitudes towards Entrepreneurship

The simultaneous application of product, customer and managerial knowledge relatedness across different business units improves the market performance of multi business companies. Local communities can play an important role in developing an entrepreneurial environment. The image of entrepreneurship has a positive effect on entrepreneurial intention. The societies and cultures that value entrepreneurship tends to develop societal systems to encourage it.

Mokry (1988)

Scholten, Kemp and Omta (2004)

Vesper (1983)

Proximity of Entrepreneurial Universities

Developing a more entrepreneurial culture can be regarded as the essential mechanism through which universities become effectively involved in economic development. Spillovers from universities, as well as from private firms, have been identified as key sources promoting firm innovation and performance.

Fairweather (1990), Hagen (2002)

Stuart and Sorenson (2003), Hall, Link and Scott (2003)

Business Angels and Risk Capital Availability

Creation of investment companies, provision of low-interest loans, and availability of credit guarantee schemes for small business financing have all contributed to the establishment of new businesses. Total informal capital investment is multiple times that of formal venture capital

Dana (1987; Harrison and Mason (1988), Hawkins (1993)

Harrison and Mason (1992).

Availability of Financial Resources

Lack of finance is a barrier for businesses in transition economies.

Pissarides (1999, 2004), Kaganova (2002), Aidis (2003), Aidis and Sauka, (2005). Pennings (1982)

The foregoing discussion shows that in the US, availability of financial resources was an important contributor of organizational birth rate. Government Influences and Supports for Entrepreneurship Governmental financial support for developing small ventures becomes essential input for their long-term economic prosperity. Without a doubt, government procurement programs and subsidies for research and development are also important for entrepreneurs.

Haber and Rachel (2007)

Goodman, Meany and Pate (1992).

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Role of Government Policies on Entrepreneurial Activity

Government policy shapes the institutional environment in which entrepreneurial decisions are made and hence, can influence the allocation of entrepreneurial activities. The government policies influence new venture creation throughout legislation and regulation, licenses, taxation, etc.

Baumol (1990), Bowen & De Clercq (2008), Minniti (2008)

Grundsten (2004).

Table 1: Initial concepts of literature

4.3

Within-Case Data Analysis

There is no standard format for within case analysis and the process is typically accomplished through a detailed description for each case that provides the basis for generating insights (Eisenhardt, 1989). While as we cannot disclose due to the privateness reasons, all four companies personal confidentiality given is treated in the strictest confidence (hereafter referred as the company). Therefore, the research to be written will not identify the corporation name.

4.3.1

CASE 1

This company is established in 2003 through self financing by a young guy with a big vision. The success of the company lives in the strong spirit and belief that is so dear to the owner, which is whatever it takes. His company involved in tourism sector in the inbound and outbound tour, ticketing, events, conventions as well as seminars. Before he owned the business, he worked in the hotel industry and also as a part-time travel agent for eight years. He founds that tourism industry is his passion and believes that he could go further with this. Drove by the desire to be in control of his own destiny and coupled with his experience and support from his late father as well as benchmarking himself with the role model that he adores so much, Tun Dr Mahathir Muhammad, the former Prime Minister of Malaysia, he bring himself to one step further to be an entrepreneur. Living in these two parameters, his company never failed. Throughout seven years in business the company manages to accumulate less than RM 5 million sales turn over and the business grows rapidly amidst the market and economy uncertainties. The first few years in business were a daunting experience to him. He needs to have a lot of saving and sometimes will auction some of his assets in getting the working capital. However, the belief that is so dear to him and also supports and encouragement from friends, relatives and acquaintances has helped him to sail through all the obstacles successfully and has forced him to be an innovative person. Following the data analysis result for Case 1, first the entrepreneurial culture and mindsets elements are explicated and then the elements of entrepreneurial supports and government policies are explained.

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4.3.1.1 The entrepreneurial culture and mindsets The analysis of the interviews on Case 1, we found four elements clearly associated with this construct in the data interviews. Those elements were: entrepreneurial role models, presence of experienced entrepreneurs, skills and knowledge of entrepreneurs and cultural attitudes towards entrepreneurship. These elements also discovered the theoretical support in the literature that specifically allocates those elements to entrepreneurial culture and mindsets. Role models was early defined as in the person dimension, cohabitation turns out to be much more influential, although this characteristic has not yielded consistent results so far (Davidsson, 2006). And normally, persons are fascinated to role models that are enthusiastically supportive in requiring new tasks, skills, attitudes and norms. In addition, when individuals have problems or drained of ideas, they will fall back on their role model for guidance. According to the owner from this company, before he owned the business, he worked in the hotel industry and also as a part-time travel agent for eight years. He founds that tourism industry is his enthusiasm and believes that he could go further with this. Thus, drove by the desire to be in control of his own destiny and coupled with his experience and support from his late father as well as benchmarking himself to determine him to be as a successful entrepreneur. In this case, it was supported by the interviewee: Yes, my former Prime Minister, Tun Dr Mahathir Mohamad as my role model and he bring me to one steps further - to be an entrepreneur. Work hard, work smart and always positive. Another element found related to the entrepreneurial culture and mindsets were the presence of experienced entrepreneurs. As appraised by Vesper (1980) indicated that work experience may be more important when it is necessary to rely on inside industrial information and in highly competitive businesses. Tacit knowledge sometimes can be taught through guided experiences, however, and courses in entrepreneurship try to do just that, at least to some extent. And this view was defended by a numerous scholars which they have themselves devised a program for teaching practical intelligence in school (Williams, Blythe, White, Li, Sternberg, & Gardner, 1996). Agreeing by the respondent in this case, the success and opportunity of the company determined by the common rule of thumb in business; the Pareto Principle - 80/20 rules it means the company gain 80% only through 20% of the customers. These are the loyal customers that keep on patronizing companys services as well as introducing new customers to his company. This is not because they gain profit or incentive. It is purely based on the good experience and trust that are worth of sharing within their networking. This is the power of the word of mouth advertising. This demonstrates his company as a successful brand. The brand has satisfied his customer and makes them willingly to communicate the value to others that eventually bring sales and reinforce the brand. Ideally, several people can be in a profession for years and be familiar with fewer than someone who has been in the profession for months. This was affirmed by the respondent saying that:
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I was working in the same as with the current one during your formative years. It was definitely related to my current business. Skills and knowledge of entrepreneurs are particularly important to performance in emerging market industry and may impart more entrepreneurial opportunities attractive as well as leads to the successful entrepreneurs. According to Shane (2000), an entrepreneur can discover only those opportunities related to his/her prior knowledge. The prior knowledge creates a knowledge corridor that allows him/her to recognize certain opportunities, but not others (Ardichvili et al., 2003). Therefore, have a presence in the heart and minds of the stakeholder are not the only key survival in business as according by the interviewee. Management agility in responding to the business environment, strong financial standing, visionary, hardworking and perseverance are also essential in sustaining and building business reputation. These are the soft and hard skills in which the owner strongly believes these could be acquired through the existence management competency accomplishments. Thus, in the interviewee words: I discovered those opportunities related to my skills and knowledge when I realized and recognized that at the time there were not so many companies who could seriously provide good and comprehensive service in this related sector. The interviewee asserted some concept regarding the surrounding local community which is related to the cultural attitudes towards entrepreneurship. As supported by Mokry (1988) proposed that local communities can play an important role in developing an entrepreneurial environment. Consequently, cultural attitudes may consider one of the mechanisms that contribute to the entrepreneurial success and it would positively relate to motivating force for the business growth according to the interviewee. Moreover, he found that one of the reasons he may spot this opportunity in this business environment cause he was born into a family with businesses and this image of entrepreneurship having a positive effect on his entrepreneurial intention. This indeed, supportive by Gnyawali and Fogel (1994), entrepreneurship may not prosper if most members of the society view it with suspicion. However, an entrepreneur in the true sense of the word affirmed by the respondent, who wants to be successful in his business will work hard for his cause, and will do also depend on others surrounding as well. Therefore, the respondent in this case noted that: Yes. Local environment and community are great influence on what one does for a living. Therefore, the networks view for the entrepreneurial culture and mindsets in case 1 as follows (see figure 2). For the analysis of this first case, this study used the first Hermeneutic Unit (HU) named data analysis and while the primary document number (PD) named P1- Case Study01. The four elements which are entrepreneurial role models, presence of experienced entrepreneurs, skills and knowledge of
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entrepreneurs and the cultural attitudes towards entrepreneurship in this network were grouped into similar codes and categories {1-1} whereas the relationship between codes point to the new networks which is the entrepreneurial culture and mindsets {2-4}.

The Entrepreneurial Culture and Mindsets {2-4}

is part of is part of Role models {1-1} is part of is part of Cultural Attitudes towards Entrepreneurship {1-1} Presence of Experienced Entrepreneurs {1-1} Skills and Knowledge of Entrepreneurs {1-1}

Figure 2: Entrepreneurial Culture and Mindsets Case 1

4.3.1.2 Entrepreneurial Supports and Governmental Policies In this first case, we identified that there are two elements that affiliated with this entrepreneurial supports and governmental policies. Those elements were: government influences and supports for entrepreneurship as well as the role of government policies on entrepreneurial activity. Government influences and supports contribute to the greater ability and power to the success factors in entrepreneurship. In developing areas, satisfactory government support has been shown to be important for small firm success (Yusuf, 1995). The service and support programs for business creation and growth implemented by government has successfully cultivated the expansion of SMEs as it does help for the new and existing entrepreneur to achieve their goals and the meantime to stabilized the business. The credit guarantee associations existence to guarantee loans for SMEs on the other hand play an effective role in promoting and supporting entrepreneurial activity through promotions, exhibition and seminars. Nonetheless, the owner of this company founds that the red tape and bureaucracy are still the hurdles and due to this most of the programs benefited only to certain segment of the markets. However guidance, assistance and support from government and local authorities are needed in order to encourage higher spirit towards success. This was corroborated by the interviewee:

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Yes. The government procurement and support programs are very innovative and timely. It helps to protect ideas & interest from copycats & opportunists. In the travel industries, only agents in the exclusive category will be eligible to programs of international stature. The role of government policies are one of the key elements for hastening the emergence of entrepreneurs. In the literature, government policy shapes the institutional environment in which entrepreneurial decisions are made and hence, can influence the allocation of entrepreneurial activities (Baumol 1990; Bowen & De Clercq, 2008; Minniti; 2008) and there is empirical evidence from a wide range of settings that established legal systems can increase the overall likelihood of entrepreneurial success. According to the respondent in this case, the government policy, programs and supports are other pivotal elements in encouraging more people to be an entrepreneur. As for the policy, the government has a very positive attitude in influencing new venture or business creation throughout legislation and regulation, licenses, taxation. In addition, the government should also seriously look into the need of our youth population. This may create the enterprise acculturation with adequate policies from the government. Education system should be changed to prepare them as early as in the primary school to develop the necessary skills and attributes that make up an entrepreneurial mindset. These can later be followed at various levels of higher education system including at vocational trainings, universities, business incubations for the young etc. As validated by the respondent in this case: Yes, it does help for the new and existing entrepreneur to achieve their goals and the meantime to stabilize the business. Consequently, the networks view for the entrepreneurial supports and governmental policies in case 1 as follows (see figure 3). For the second analysis of this case, this study used the same primary document number (PD) named P1- Case Study01. The two elements which are governmental influences and support for entrepreneurship as well as role of government policies on entrepreneurial activity in this network were grouped into similar codes and categories {2-2} whilst the relationship between codes point to the new networks which is the entrepreneurial supports and governmental policies {1-2}.

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The Entrepreneurial Supports and Governmental Policies {1-2}

is part of is part of

Government Influences and Support for Entrepreneurship {2-2}

Role of Government Policies on Entrepreneurial Activity {2-2}

Figure 3: Entrepreneurial Supports and Governmental Policies Case 1

4.3.2

CASE 2

The second company is one of the new groomed SME in the state of Kelantan of Malaysia. Located in east coast which popular with varieties of foods and tradition. Spices and food producing, spices repackaging and retailing are the core business which established since 2005. Self interest in cooking, trying new recipe in addition to basic knowledge of business during her childhood brought this women entrepreneur into the entrepreneurship arena. She started the business without formal intentions to commercialize it until started to be more serious since the last few years as the business grow is positive. Her company has RM 250,000.00 to less than RM 5 million annual sales turnovers with the total of thirty two skilled and unskilled employees. Her first venture started with introducing her cooks to her friends. The uniqueness of the tastes and its differences make the demands of her cooks became appealing. The demands grew and she started to cook more every day until she found out why she doesnt turn from producing ready cook meals into producing the spices to be used for the cook and customer can buy the spices and cook by themselves. The owner of this company is a risk taker, but she is firm with her vision. She shoot a try in producing the spices of her own food recipe, put them into a presentable looks and started going into the market and now she made it. As the following is the data analysis result for Case 2. First of all the entrepreneurial culture and mindsets elements are explained and finally the elements for entrepreneurial supports and government policies are explicated.

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4.3.2.1 The entrepreneurial culture and mindsets The analysis of the interviews on Case 2, establish four elements clearly linked with this construct in the records of interviews. Those elements were: entrepreneurial role models, skills and knowledge of entrepreneurs, cultural attitudes towards entrepreneurship and proximity of entrepreneurial universities. These elements also found through the theoretical support in the literature that precisely allocates to entrepreneurial culture and mindsets. As Cressy (1996) emphasizes the role of the entrepreneurs human capital, especially his or her age, and suggests a model that assumes the probability of a new firms survival is an increasing function of an entrepreneurs age. Moreover, the interviewee confirmed that having a role models help her in adapting and instilling the righteous of managing the business, risk analysis as well as the strategy in business industry. For her, without a right mindset and strategy, the entrepreneur will easily retreat from the competition. Being an observant at her first attempt in entrepreneurship made her feel comfortable in placing herself within the entrepreneurship tough challenge. The success stories of the existing entrepreneur with their strategy unintentionally have been a guides and lines as an entrepreneur to penetrate her own market in her own way. The end result of the type of role model will absolutely influence the surrounding especially for the new entrepreneur. In this case, it was supported by the interviewee: Yes, indeed by having an entrepreneurial role model which is more relevant to my business, he/she will be able to motivate and inspire me in the way of how to run the business, the potential risks and how to increase market share. The advanced skills and knowledge of entrepreneurs leads to greater possibility to the success in business. Many researchers have acknowledged the fact that management skills can be acquired and personal qualities have a strong influence on the management skills or competencies of the entrepreneur (Baum et al., 2001; Chandler & Jansen, 1992; Ibrahim & Goodwin, 1986; Pavett & Lau, 1983; Schein, 1987; Westerbergetal, 1997). As according to respondent into this case, the competition of such products in the area is stiff. The entrepreneur without a strong motivations and confidences wont be able to start such business within the competitors strong and established territory. Even though her company could not win a huge percentage of the market share, but the brand was able to enter the market and became the alternative products for the other spices products. Hence, this prior knowledge, through entrepreneurial alertness, ultimately helps entrepreneurs discover innovative ways (opportunity recognition) to satisfy the needs of the customers through new products, services and processes (Sambasivan, et al., 2009). Thus, in the interviewee words: When I first promoted my products, I gathered feedback from the customer. Then, I realized that there is a lot of positive feedback about the products and some possible improvement. Based on the information gathered, I confidence that my product is marketable.
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The positive public and cultural attitudes towards enterpriser encouraged entrepreneurs activity. This indeed, supportive by Swanson and Webster (1992) propagated that with the development of social prejudice against business entities may result to small business become a victim of social justice. The respondent swanned some concept as regards the surrounding of social factors as well as physical facilities which is related to the cultural attitudes towards entrepreneurship. From the owner standpoint of views, although the business sounds not complicated, the hardest part is to sustain and maintain the pace. The interviewee understands that she wont be able to run the business alone. This is definitely the image of entrepreneurship having a positive outcome to her entrepreneurial intents as the environing local communities of interests are likely to increase ones desire to engross in the business natural process. As a result, the respondent in this case remarked that: Yes. The surrounding local community concerning entrepreneurship gave me a good exposure and being supportive on the golden opportunity that I would have in business. A further element found correlated to the entrepreneurial culture and mindsets were proximity of entrepreneurial university. Etzkowitz (1983) coined the term entrepreneurial university to describe institutions that have become critical to regional economic development. Entrepreneur education and its relationship to performance have been widely examined. As such, developing a more entrepreneurial culture can be regarded as the essential mechanism through which universities become effectively involved in economic development (Fairweather 1990; Hagen, 2002). Therefore, having closer proximity of the business to the university will have the spill over knowledge in a sense of experiment grounds for students as well. The respondent agreed that ingraining the entrepreneurial movement within the universities is a correct decision as the students are considered matured enough to understand the business conduct at that age. The presence of proper training and research assistances are important factors contributing to become more entrepreneurial. This is because the local residence from the same vicinity stands to benefit from research, training, courses, seminars, exhibitions and guidance offered by the universities as mentioned by the interviewee. This was stated by the answerer saying that: Yes, adult and adolescences are matured enough to understand the business conduct. This opportunity should be grabbed by university management or entrepreneurial to help country produce successful entrepreneur. Accordingly, the networks view for the entrepreneurial culture and mindsets in case 2 as follows (see figure 4). For the analysis of this second case, this study used the same Hermeneutic Unit (HU) named data analysis and while the primary document number (PD) named P2- Case Study02. The four elements which are entrepreneurial role models, skills and knowledge of entrepreneurs, cultural attitudes towards entrepreneurship and proximity of entrepreneurial university in this network were grouped into
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similar codes and categories {2-1} whereas the relationship between codes point to the new networks which is the entrepreneurial culture and mindsets {1-4}.

The Entrepreneurial Culture and Mindsets {1-4}

is part of is part of Role models {2-1} is part of Proximity of Universities {1-1} is part of

Skills and Knowledge of Entrepreneurs {2-1}

Cultural Attitudes towards Entrepreneurship {2-1}

Figure 4: Entrepreneurial Culture and Mindsets Case 2

4.3.2.2 Entrepreneurial Supports and Governmental Policies In this second case, we recognized that there are two elements that consorted with this entrepreneurial supports and governmental policies. Those elements were: government influences and supports for entrepreneurship as well as the role of government policies on entrepreneurial activity. Government supports is vital to cultivate SMEs expansion and authorized aspects are used in selection operating resolution in order to guarantee SMEs upcoming business achievement. By their actions, governments substantially influence the economic and non-economic opportunities essential to the creation of the conditions that lead to the development of business ventures (Wilken, 1979). As corroborated by the owner from this second company, she agreed that the local government play an effective role in promoting and supporting entrepreneurial activity. A lot of pre-requisite and requirement need to be fulfilled. As such, creation of investment companies, provision of low-interest loans and availability of credit guarantees schemes for small business financing have all contributed to the establishment and success in business. These areas provide opportunities for the entrepreneur to seek knowledge, learn from the best practices and to have alternative for financial support. This was underpinned by the interviewee: Yes. All these initiatives are the opportunity for the entrepreneur to seek knowledge, learn from the best practices and to have alternative for financial support. Government policies and procedures may determine the market instrument and make them function expeditiously. Besides, for an example, Gray and Sanzogni (2004) found that the government support
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policy is a key component for accelerating the growth of e-commerce entrepreneurs in Thailand because the achievement of the highest rate of entrepreneurial activity by Thais comes from the encouragement and support of the Thai government (Sebora, et al., 2009). This also agreed by the interviewee mentioned that policies programs for business creation and growth implemented by government is very important to encourage SMEs spreading out and it motivates the entrepreneur to expatiate the business. As formalized by the respondent in this case: Yes, government introduced several of incentive such as tax exemption, licensing, etc towards business achievement and it motivates the entrepreneur to expand the business. Thus, the networks view for the entrepreneurial supports and governmental policies in case 2 as follows (see figure 5). For the second analysis of this case, this study used the same primary document number (PD) named P2- Case Study02. The two elements which are governmental influences and supports for entrepreneurship as well as role of government policies on entrepreneurial activity in this network were grouped into similar codes and categories {1-1} whilst the relationship between codes point to the new networks which is the entrepreneurial supports and governmental policies {1-2}.

The Entrepreneurial Supports and Governmental Policies {1-2}

is part of is part of Government Influences and Support for Entrepreneurship {1-1} Role of Government Policies on Entrepreneurial Activity {1-1}

Figure 5: Entrepreneurial Supports and Governmental Policies Case 2

4.3.3

CASE 3

Sky is the limit is the motto for a young Information Technology (IT) male entrepreneur. He realized that Multimedia, IT, Web and Video Production is one of the services which continuously demanding within the evolving era of technology. To remain competitive, companies need to be on the par with global technology evolution where his company provides the solution. He is already a business owner with, almost unbelievably for a person of his age, two years of entrepreneurial experience. He
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incorporated this business in 2007, making him, at 28, one of the youngest company directors in

Malaysia history. He managed to have thirty skilled and two unskilled employees. He completed his
postgraduate study in Multimedia Creative which makes him more reputable and brings customer confidence in dealing with his service. The annual sale turnover is RM250,000.00 to less than RM5 millions makes his company stand strong among its competitors. He quite satisfied with his achievement so far. Within years of establishment, the company reached RM1.5 millions target and RM5 millions for the next 2 years target. Success is a ladder that cannot be climbed with your hand in your pocket. Work Smart and Think Hard he said when he been asked about the attribute that motivates him the most in achieving long term success. He learns from a role model who works hard and risk takers. He attracted to decision making and problem solving style from his role model. For him, it is better to learn from others mistake rather than learn from his own mistake. He learnt from his friends, lecturers that not many of them willing to leave their five figure jobs to run the business. Definitely he believed that hard work will pay. The data analysis result for Case 3 as follows; firstly, the entrepreneurial culture and mindsets elements are explicated and followed by the elements for entrepreneurial supports and government policies are explained.

4.3.3.1 The entrepreneurial culture and mindsets The data analysis of the interviews on Case 3, encountered five elements strongly allied in the data. Those elements are: entrepreneurial role models, presence of experienced entrepreneurs, skills and knowledge of entrepreneurs, cultural attitudes towards entrepreneurship and proximity of entrepreneurial universities. These elements also found throughout the academic support in the literature that in particular allocates to entrepreneurial culture and mindsets. The impact of entrepreneurial role models generally interrelated to involving the entrepreneurs, employment in the business and significantly related with interest in starting a business towards the success factors in entrepreneurship. As surveyed by Cooper (1985) has stated that the factors like experience or occupational background of the entrepreneurs, family members, skill, knowledge, role models, supports and the economic conditions of the entrepreneurs, access to capital, etc. are some of the motives that lead to entrepreneurial success. The owner of this company learns from role models who work hard and risk takers. He attracted to decision making and problem solving style from his role model. For him, it is better to learn from others mistake rather than learn from his own mistake. He learnt from his friends, lecturers that not many of them willing to leave their five

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figure jobs to run the business besides, he believed that hard work will pay. In this case, it was confirmed by the respondent: Yes, role models as a reference and as a guideline in decision making. Therefore, why should we learn from our mistake when we can learn from others? By examining experience and expertise for the presence of experienced entrepreneurs, Chandler and Jansen (1992) report some significant relationships between a founder's familiarity and self-rated skills and between experience and skills on the one hand and venture growth and profitability on the other. Moreover it will positively associate to improve the business skills and venture in a continuous discovering and development in entrepreneurship. The respondent gained some experiences when he involved in project management of advertising, multimedia and IT. He was self employed during that time when he ventured to the business world. He likes venture new things make him impatient and aggressively expand his business to meet his own target. Experiences that he gained during his previous job are important for him as a guide and familiarize him with the business game play. In consequence, regarding the presence of experienced entrepreneurs, an interviewee pointed out: Yes. Experience is important to guide us and to make sure we know the game of the business. Besides, experience could help and boost the growing process. The truth that prior skills and knowledge of a market, business and consumer desires can be the most important benefit for entrepreneurs in terms of realizing potentially profitable chances. Empirical studies and based in his consultancy practice, Gerber (2001) points out those small businesses are founded mostly by technicians, specialists, or professionals in certain fields and most of entrepreneurs perform their own technical work with high quality and efficiency, but seldom are management and managerial skills neglected. According to the owner of this company, some of the entrepreneurship success story were based pure luck, whilst the rest are merely depends on the past experiences and knowledge that boost and grows the business. He alert with his surroundings as well as the market needs. The entrepreneur should have the ability of turning the problem into opportunity and on the same time he maintains and improves his company reputations. These are one of the factors that help him in developing his business. Not to forget, staff welfare and effective skills in problem solving are vital elements in managing the company as affirmed by this success entrepreneur. Thus, in the interviewee expressions: I discovered those opportunities related to my skills and knowledge by look around by listen to the problem, read and analyze the difficulty and always look forward for the new technology. . Therefore, a constructive approach of the general public toward entrepreneurship and an extensive public support for entrepreneurial behaviour are both needed to encourage people to start a new business. The
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owner of this company affirmed that having more open culture and positive attitudes will encourages information sharing and networking that help to advance the interests of entrepreneurial people. For instance, close relatives can assist entrepreneurs inquire about solutions, locate resources, and assemble a team of willing people to address the entrepreneur's problems (Kao, 1993). Hence, the respondent in this case mentioned that: Yes. People always think as a business owner, we can be rich and have our sweet time. The facts are, the life is not as great as it seems. Business consume more time in first 5 years before it reach the success point. The spillovers from universities, as well as from private firms, have been identified as key sources promoting firm innovation and performance (Stuart & Sorenson, 2003; Hall, Link, & Scott, 2003). A low level of education and exposure could prevent motivated entrepreneurial movement in their surroundings. Undoubtedly, we suppose that the proximity of entrepreneurial universities does indeed have a positive relationship to entrepreneurship. In term of educational background, the respondent agreed that education experiences are helpful in venturing into the entrepreneur world. Entrepreneurship which tag along with education will result a smart entrepreneur who knows how to look into the problem and turn it into opportunity. The university should become a playground for a young entrepreneur to learn and get the right exposure whilst on the same time indirectly involve in business. This was declared by the respondent saying that: Yes, education and business should work together in determine advancement of technology and looking for more opportunity. As a result, the networks view for the entrepreneurial culture and mindsets in case 3 as follows (see figure 6). For the analysis of this third case, this study used the same Hermeneutic Unit (HU) named data analysis and while the primary document number (PD) named P3- Case Study03. The three elements which are entrepreneurial role models, skills and knowledge of entrepreneurs and cultural attitudes towards entrepreneurship in this network were grouped into similar codes and categories {3-1} whilst the elements of presence of experienced entrepreneurs and proximity of entrepreneurial university in this network were grouped into similar codes and categories {2-1} where the relationship between those

codes point to the networks which is the entrepreneurial culture and mindsets {2-5}.

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The Entrepreneurial Culture and Mindsets {2-5} is part of is part of Role models {3-1} is part of is part of Presence of Experienced Entrepreneurs {2-1} is part of Proximity of Universities {2-1}

Cultural Attitudes towards Entrepreneurship {3-1}

Skills and Knowledge of Entrepreneurs {3-1}

Figure 6: Entrepreneurial Culture and Mindsets Case 3


4.3.3.2 Entrepreneurial Supports and Governmental Policies In this third case, we acknowledged that there are two elements that related with the entrepreneurial supports and governmental policies. Those elements were: business angels and risk capital availability as well as the role of government policies on entrepreneurial activity. Entrepreneurs need capital support services in order to develop their business. The business angels and risk capital would be as an addition support to financial assistance. The other theorist have pursued this idea is argued that support from informal network such as friends, relatives, previous employers and acquaintances have found also to benefit the business (Raduan Rose, et al., 2006b). In term of resource, as mentioned by the respondent, he relies on his own on top of the business angels to start the business. He obtains the financial support from his own savings and family as well. For him, it is not that easy to apply and get the financial support nowadays due to a lot of documentation obligation, etc. At the beginning he started with RM70, 000.00 capitals. Even though the self financing reduce liabilities, but as an entrepreneur, he still require support to venture bigger scale projects and ensure the resource that they have is enough at any time. This was supported by the interviewee: The main source of financing on the support for my business is through business angel. I start with the personal capital. It helps since we didnt have the liabilities I also do ask for family support. In Lundstrom and Stevenson (2001) research have shown and described the entrepreneurship policy as a collection of measures taken to stimulate more entrepreneurial behaviour in a geographic area. In succession to create people be aware of the value of being entrepreneurs, the government and also the business organizations can manage certain entrepreneurship programs and courses to the publics. As according to the interviewee, he sees these initiatives as a great effort from government in encouraging
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and developing entrepreneurship in Malaysia. On top of that, the role of government policies is important to cultivate SME growth in this country. Some other initiatives such as tax exemption, new policy which protect the entrepreneur, etc are some of the proof that the country is keen on business creation and growth. Therefore, he expects more research and development to be organized by the researchers as well as the government, so that they will understand the issues and problem faced by the entrepreneur. This also includes with more campaigns and success stories should be highlighted in order to stimulate and encourage entrepreneurial movement. As validated by the respondent in this case: Yes, service, policies and support programs for business creation and growth which done by government are very important to cultivate SMEs expansion. As a consequence, the networks view for the entrepreneurial supports and governmental policies in case 3 as follows (see figure 7). For the second analysis of this case, this study used the same primary document number (PD) named P3- Case Study03. The two elements which are business angels and risk capital availability as code {1-1} as well as role of government policies on entrepreneurial activity as code {2-1} in this network were grouped whereas the relationship between codes point to the new networks which is the entrepreneurial supports and governmental policies {2-3}.

The Entrepreneurial Supports and Governmental Policies {2-3}

is part of is part of Business Angels and Risk Capital Availability {1-1}

Role of Government Policies on Entrepreneurial Activity {2-1}

Figure 7: Entrepreneurial Supports and Governmental Policies Case 3


4.3.4 CASE 4

The fourth company belongs to a matured women entrepreneur from South Coast of Malaysia agreed that the best way to achieve long term target is by building the target around a short and middle term target and strive to achieve the targets. The company was created in 2007 and it runs retail, woman clothing, traditional herbs and school uniforms. This company has thirty two employees consists of skilled and unskilled workers. Throughout four years in the business, the company manages to progress up to
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RM250,000.00 sales turnovers and the business grows speedily amongst the market. This employment segmentation helps her to balance her business income and spending in term of salary payout to the employees and skill transfer from skilled to unskilled, and from skilled to become expert workers. She was a teacher before becoming an entrepreneur. Her financial wealth and stability inspire her more to become a successful entrepreneur with her own skills and interest. Even though she is from the family and community which not business minded type of person, but she proves she was able to stand up with her own choice and she made it. The data analysis result for Case 4 as follows; to start with, the entrepreneurial culture and mindsets elements are explained and accompanied by the elements for entrepreneurial supports and government policies are explicated.

4.3.4.1 The entrepreneurial culture and mindsets The data analysis of the interviews on Case 4, encountered three elements strongly connected in the data. Those elements are: skills and knowledge of entrepreneurs, cultural attitudes towards entrepreneurship and proximity of entrepreneurial universities. These elements also found throughout the academician support in the literature that in particular apportions to entrepreneurial culture and mindsets. Regarding to the skills and knowledge of entrepreneurs, the empirical studies by Gerber (2001) points out that those small businesses are founded mostly by technicians, specialists, or professionals in certain fields and most of entrepreneurs perform their own technical work with high quality and efficiency, but seldom are management and managerial skills neglected. The owner of this company asserted that the previous exposure in multi level marketing and direct selling give her confidence in dealing with clients and customer. She spots her business when she realized that there is a need within the community within the area whereas none of such business existed or presented. After a meticulous study and market research, she found out that the location is strategic for her to start the business. From her perspective, she asserted that the key considerations in order to ensure business success are knowledge. She urges youngsters and new entrepreneur to go for the knowledge before entering entrepreneurship field. Moreover, literature revealed that the management skills of an entrepreneur refer to knowledge, skills, and/or abilities required managing a venture (Sambasivan, Abdul, & Yusop, 2009). According to the interviewee, firstly, the understanding and determining the most commonly sought after products that help to ensure higher repeated sales. Secondly, the capability to quickly respond towards enquiries pertaining to potential products to be sold at the outlet can be a major advantage for entrepreneurs in term of recognizing

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potentially opportunities. Those are crucial thing that need to be done together with having knowledge of the market .In this case, it was confirmed by the respondent: I discover those opportunities related to my skills and knowledge based on enquiries and support from my previous MLM and direct-selling clients. They kept asking for products that they believe I was likely able to provide them with. Understanding and determining the most commonly sought after products that help to ensure higher repeated sales. Cultural attitudes together with community norm also correspond to the mind-set of fellowmen for entrepreneurship. In the study of Scholten, Kemp, & Omta (2004) found that the image of entrepreneurship have a positive effect on entrepreneurial intention. As the owner and founder of the company, she was well known among her friends with her products. She realized that she has the needed skills and knowledge when her friends keep on asking about products that they believed her likely to provide them. This is makes her more feel very determined entrepreneur and from her standpoint of view, the local communities should keep continuously support the business development together with the recognition as the vital contribution of confidence in the chance for entrepreneurial success. As a consequence, concerning the cultural attitudes towards the entrepreneurs, an interviewee remarked: Yes, they inspire me to face whatever challenges ahead and they are supportive of this kind of endeavour; stiffer competition will ensure them of better price advantage from the users point of view. The proximity of entrepreneurial universities has a strong relationship in the business vicinity. A low level of education and exposure could prevent motivated entrepreneurial movement in their surroundings. Research evidence by Clark (1998) has shown that there are the relation with the concept to universities attempts to reform them and to become more entrepreneurial by strengthening their steering core, enhancing the development periphery, widening the funding base, stimulating the academic heartland and promoting an entrepreneurial belief. The respondent agreed that the entrepreneurial movement within universities been met with both enthusiasm towards the successful entrepreneurs. From her point of view, the knowledge spillovers from universities can be identified as key sources promoting firm innovation and performance. With the advance of communication technologies, proximities are now becoming less significant. The presence of universities for training and research assistance were important factors contributing to become more entrepreneurial. This function a purpose in providing them with systematic ways of running or operating a business entity. This helps to prepare them more and enhances the chances of success while able to determine the red-flags to potential problems. For that reason, in the interviewee words: Yes. It does serve a purpose in providing them with systematic ways of running or operating a business entity. This helps to prepare them more and enhances the chances of success while able to determine the red-flags to potential problems.
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Therefore, the networks view for the entrepreneurial culture and mindsets in case 4 as follows (see figure 8). For the analysis of this fourth case, this study used the same Hermeneutic Unit (HU) named data analysis and while the primary document number (PD) named P4- Case Study04. The three elements which are entrepreneurial skills and knowledge of entrepreneurs and cultural attitudes towards entrepreneurship in this network were grouped into similar codes and categories {4-1} whilst the elements of proximity of entrepreneurial university in this network were codes as {3-1} where the relationship between those codes point to the networks which is the entrepreneurial culture and mindsets {3-5}.
The Entrepreneurial Culture and Mindsets {3-5}

is part of is part of Skills and Knowledge of Entrepreneurs {4-1}

is part of

Proximity of Universities {3-1}

Cultural Attitudes towards Entrepreneurship {4-1}

Figure 8: Entrepreneurial Culture and Mindsets Case 4

4.3.4.2 Entrepreneurial Supports and Governmental Policies In this fourth case, we recognized that there are three elements that interrelated with the entrepreneurial supports and governmental policies. Those elements were: business angels and risk capital availability, financial resources availability as well as the role of government policies on entrepreneurial activity. Regarding to the business angels and risk capital availability, research has shown that creation of investment companies, provision of low-interest loans, and availability of credit guarantee schemes for small business financing have all contributed to the establishment of new businesses (Dana, 1987; Harrison & Mason, 1988; Hawkins, 1993). They all have versatile and differing venture criteria and may give more by approach of support particularly to premature phase SMEs than just capital. The owner of this company asserted that her business was established with self funding with a year loan as the commencement. From her opinion, in Malaysia it is not easy to get capital assistance. The creation of investment companies, provision of low-interest loans and availability of are crucial in helping those actual entrepreneurs who may have the wisdom or awareness or avid to embark on a business venture; but short of proper capital investments. However according to her, the entities should have a continuous
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monitoring system in place to provide a check and balance environment to minimize the likelihood of the entrepreneurs going astray from their main objectives. This was backed by the interviewee: Yes. These are the main sources of strength. These entities are crucial in helping those genuine entrepreneurs who may have the wisdom or knowledge or zealousness to undertake a business venture; but short of proper capital investments. Generally, entrepreneurs need and require formal financial resources for their business. Financial resources prospects concern to affluence formation, which is ordinarily suppose as a right need for all varieties of different individual conducts. The brief review of the literature provided recently is by George and Prabhu (2002) highlight the role of developmental financial institutions in fostering entrepreneurship in emerging economies through lending policies and prioritization of national industrial-development goals. As mentioned by the interviewee, in emerging economies through lending policies and prioritization of national industrial-development goal, the proper support and exposure are crucial in terms of fund management; i.e. not only just giving out loans to the entrepreneurs but also in guiding them especially during the difficult period in servicing the loans with the intention of help an entrepreneurs. Besides, she brought up that bank-based loan financial is perceived to enhance entrepreneurship loves to do that to ensure their money is in a safe-hand. But getting a top credit references is another stumbling block because a formal institutions such as a bank required absolute top credit references from loan applicants. From her words, not all entrepreneurs have the proper documentations as required by those banks; yet they are genuine players that require additional capital to ensure greater success. It is have a lesser bureaucratic atmosphere when giving out financial assistance to entrepreneurs. Nobody wants to fail but the onus is vested on the financial providers to guide and educate the entrepreneurs to ensure their exploration is a successful ones For this reason, the respondent in this case mentioned that: Yes. The role of developmental formal financial institutions not only just giving out loans to the entrepreneurs but also in guiding them especially during the difficult period in servicing the loans. Recently, according to Belso Martinez (2009) stated that the objective of entrepreneurship policy is aimed at increasing the supply of new entrepreneurs and new businesses as well as their early stage survival and growth and thus, this public policy to promote entrepreneurship can be broadly considered under that aimed at the macroeconomic environment, the micro level (supporting individual firms), and the entrepreneurial culture. The government policies influence new venture creation throughout legislation and regulation, licenses, taxation, etc. The owner of this company affirmed that government plays a vital role in encouraging and influencing new venture/business creation throughout legislation and regulation,

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licenses, taxation for instance. But, still it needs a synchronize efforts by all parties, local government in particular. As corroborated by the respondent in this case: Yes, especially in making sure the marketability and identifying new potential markets for SMEs. Try to have the products exported to other countries using the government platform. Thus, the networks view for the entrepreneurial supports and governmental policies in case 4 as follows (see figure 9). For the second analysis of this case, this study used the same primary document number (PD) named P4- Case Study04. The three elements which are business angels {2-1}, availability of financial resources {1-1} and role of governmental policies on entrepreneurial activity {3-1} in this network were grouped whereas the relationship between three codes point to the new networks which is the entrepreneurial supports and governmental policies {3-4}.

The Entrepreneurial Supports and Governmental Policies {3-4}

is part of is part of Business Angels and Risk Capital Availability {2-1}

is part of

Role of Government Policies on Entrepreneurial Activity {3-1}

Availability of Financial Resources {1-1}

Figure 9: Entrepreneurial Supports and Governmental Policies Case 4


4.4 Cross-Case Analysis

In an attempt to give internal validity to the analysis, we went one step further in the analysis of the data. After analyzing the individual cases using separate set of codes for each case in order to identify cases, a new Hermeneutic Unit (HU) inside Atlas.ti was created, an all codes from the individual cases were grouped (merged) in one single set of codes according to their similarity of meaning. The data analysis result for the integration of cases as follows; first the entrepreneurial culture and mindsets elements are explained and finally the elements of the entrepreneurial supports and governmental policies are explained.

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4.4.1

The entrepreneurial culture and mindsets

The analysis of the interview in the integration of cases found five elements which are: Entrepreneurial role models, presence of experienced entrepreneurs, skills and knowledge of entrepreneurs, cultural attitudes towards entrepreneurship and proximity of entrepreneurial universities. These results are in line with the components of contribution towards the success in entrepreneurship.

The impact of entrepreneurial role models generally interrelated to involving the entrepreneurs, employment in the business and significantly related with interest in starting a business towards the success factors in entrepreneurship. Therefore, the greater entrepreneurial role models influence, the greater the ability to enterprise. The argument is supported by Amit, Glosten, & Muller (1993) and Bygrave (1993) revealed that success of a new venture is the outcome of reciprocal relations among variables relating to the entrepreneurs personal characteristics, skills and background, the decisions and actions taken by the entrepreneur in the process of realizing the venture, the nature and structure of the organization or the service that the venture has developed, and the organizational and environmental variables of the framework in which it came about. Therefore, the entrepreneurial role models element appears to be linked with the three cases which are Case 1, Case 2 and Case 3. Contrary, in case 4, the interviewee mentioned that it is not necessary for an individuals attracted to entrepreneurial role models which are actively helpful in requiring new tasks, skills, attitudes and norms.

In a further understanding of the entrepreneurial process and environment, therefore, it is crucial to find the presence of experienced entrepreneurs. The review of the literature provided earlier which entrepreneurs who have the necessary competencies especially in the area of operations, finance, marketing, human resources and management skills required for the business are more likely to be successful at startup (Peterson, Kozmetsky, & Ridgway, 1983; Praalad & Hamel, 1990; Swierez & Spencer, 1992). With regards to these contacts, the presence of experienced entrepreneurs comes out to be related with only two cases which are case 1 and case 2 and they are definitely agreed that the business owner or founder obtain their business idea from a previous job as well as helped them to predict the performance of their ventures.

Skills and knowledge of entrepreneurs are particularly important to performance in emerging market industry and may impart more entrepreneurial opportunities attractive as well as leads to the successful entrepreneurs. A mixture of studies found that some key factors may lead to the business failure were due to the lack of management skills or competencies (ONeill & Duker, 1986; Terpstra & Olson, 1993) and
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the other perspective concluded that management skills of entrepreneurs were conducive to business performance and growth (Bird, 1993; Cooper & Gimeno-Gascon, 1992; Ronstadt, 1984). As a result, this element is remarkably important in order to be a successful entrepreneur and all the interviewee supported these statements.

Cultural attitudes towards entrepreneurship also one of the mechanisms that contribute to the entrepreneurial success and it would positively relate to motivating force for the business growth. For instance, close relatives can assist entrepreneurs inquire about solutions, locate resources, and assemble a team of willing people to address the entrepreneur's problems (Kao, 1993) and together with social norm also represents the attitude of fellowmen towards entrepreneurship (Grundsten, 2004). Hence, this is also strongly established and all the four cases through the interview supported this element and them likely to increase ones desire to engage in entrepreneurial activities by the surrounding local community concerning entrepreneurship.

Undoubtedly, we suppose that the proximity of entrepreneurial universities does indeed have a positive relationship to entrepreneurship. A low level of education and exposure could prevent motivated entrepreneurial movement in their surroundings. Certain substructure components give the impression to make considerable impact on the entrepreneurial environment. These components include the existence of universities and research and development programs, a well-educated and technically skilled labor force and modern transport and communication facilities that provide easy access to suppliers and customers (Bruno & Tyebjee, 1982; Gartner, 1985). This was also affirmed by three cases (case 2, case 3 and case 4) with the aim of the entrepreneurial movement within universities been met with both enthusiasms towards the successful entrepreneurs. Concerning the finding from the interview in case 1, the interviewee noted that the experienced are more valuable than the education because it just only a theory compared to the practically exposure doing the business.

4.4.2

The Entrepreneurial Supports and Governmental Policies

In the integration of cases the entrepreneurial supports and governmental policies is believed to be interrelated with some facilitator elements towards the successful in entrepreneurship. Those elements are: Business angels and risk capital availability, availability of financial resources and government influences and supports for entrepreneurship.

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Entrepreneurs need capital support services in order to develop their business. The business angels and risk capital availability would be as an addition support to financial assistance. The other theorist have pursued this idea is argued that support from informal network such as friends, relatives, previous employers and acquaintances have found also to benefit the business (Raduan Rose, et al., 2006b). For that reason, this element is directly quoted by the interviewee from the two cases which are case 3 and case 4. They remarked that these entities are crucial in helping those genuine entrepreneurs as well as contributed the ability and willingness to provide the company with enough capital to move the business to the next phase. On the contrary, with the other two cases which are they preferred having their own financing as they have more than enough to start their business.

Generally, entrepreneurs need and require financial support for their business. The availability financial resources prospects concern to affluence formation, which is ordinarily suppose as a right need for all varieties of different individual, conducts. As reported in Davis (2003), fully 90% of start-ups are not supported by venture capital and more than 95% of small-firm financing comes from sources other than venture capital, particularly commercial banks. Regrettably, there is only one case from the four interviews that supported this element which is in case 4 after one year business operation. Nevertheless, according to the other three cases, they mentioned that financial institutions have a rigid scheme of payment to be followed and thus this could be a discouraging factor especially when expected payment from the formal bank financial.

Government influences and supports for entrepreneurship is also very crucial to promote the entrepreneurial development in order to guarantee SMEs future business success. In developing areas, satisfactory government support has been shown to be important for small firm success (Yusuf, 1995). Thus, it will contribute to the greater ability and power to the success factors in entrepreneurship. This was supported by case 1 and case 2 which are it is very innovative and timely. It helps to protect ideas & interest from copycats & opportunists. Opposing to the other two cases, they affirmed that the local governments are not of big help to entrepreneurs due to their stringent polices. The government is more concern in terms of enforcement activities; yet they seem to be very selective and only have it occasionally done. Promotional activities are normally done by agencies that are directly related to entrepreneurship.

The role of government policies on entrepreneurial activity may determine the market instrument and make them function expeditiously. Based on Lim, Morse, Mitchell, & Seawright (2010), they argued that
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a legal system with stronger property rights protection and less regulatory complexity (Soto, 2000) positively influences the level of entrepreneurship by shaping the entrepreneurial scripts of individuals within that society because of its entrepreneurial munificence. The government support policies are one of the key elements for hastening the emergence of entrepreneurs. This element are strongly have a full supported from all the four cases especially in making sure the marketability and identifying new potential markets for SMEs. These may also have the products exported to other countries using the government platform.

As to summarize, the integration of cases below shows that each element of two environmental dimensions is associated to the success in entrepreneurship. For the analysis of the integration of the four cases, this study used a Hermeneutic Unit (HU) named data analysis integrated where the codes were group into similar categories and whereas the association between codes point to the new networks, while the primary document number (PD) are remained the same. Figure 10 shows the complete set of detailed network view for all these cases.

Succes Factors in Entrepreneurship {1-2}

is associated with The Entrepreneurial Culture and Mindsets {4-6}

is associated with

The Entrepreneurial Supports and Governmental Policies {3-5} is part of Role of Government Policies on Entrepreneurial Activity {3-1} is part of

is part of is part of Role models {3-1} is part of is part of Proximity of Universities {3-1} Skills and Knowledge of Entrepreneurs {4-1} Presence of Experienced Entrepreneurs {2-1} is part of Business Angels and Risk Capital Availability {2-1} is part of is part of

Availability of Financial Resources {1-1}

Cultural Attitudes towards Entrepreneurship {4-1}

Government Influences and Support for Entrepreneurship {1-1}

Figure 10: Integration of cases Network View

The first dimension which is the entrepreneurial culture and mindsets that relates to the five elements which are entrepreneurial role models, presence of experienced entrepreneurs, skills and knowledge of entrepreneurs, cultural attitudes towards entrepreneurship and proximity of entrepreneurial universities. The second dimension is the entrepreneurial supports and governmental policies that associated to success in entrepreneurship relates to the four elements which are business angels and risk capital availability,
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role of government policies on entrepreneurial activity, availability of financial resources and as government influences and supports for entrepreneurship as well as the role of government policies on entrepreneurial activity.

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5.

CONCLUSIONS

In this research, the environmental factors on entrepreneurship were analyzed in Malaysia using qualitative approach. This study found all the elements in two dimensions which are the entrepreneurial culture and mindsets as well as the entrepreneurial supports and governmental policies are the factors that contributed to the success in entrepreneurship. The elements such as entrepreneurial role models, presence of experienced entrepreneurs, skills and knowledge of entrepreneurs, cultural attitudes towards entrepreneurship and proximity of entrepreneurial universities are strongly correlated with the entrepreneurial culture and mindsets. The entrepreneurial supports and governmental policies is related with the business angels and risk capital availability, availability of financial resources, government influences and supports for entrepreneurship in addition to role of government policies on entrepreneurial activity. Those elements in both dimensions provide theoretical support to the success in entrepreneurship. Nevertheless from the findings, we found that the elements of the entrepreneurial culture and mindsets are the most important factor that contributes to the success in entrepreneurship in Malaysia. On the other hand, this research encountered with some of the entrepreneurs profile and characteristic in Malaysia which are firstly, a young adult man as a travel and consultant business offers a wide spectrum of tourism services which includes corporate airline ticketing, worldwide hotel reservations, airport check-in service, incentive group travel, cruises and independent and group tours to any part of the world. His company was established in 2003. Secondly, a woman entrepreneur in food and beverages industry as her core business. Her company is one of the new groomed SME in the state of Kelantan of Malaysia which popular with varieties of foods and tradition since 2005. The natures of business are food as well as spices production, spices repackaging and retailing. Thirdly, a young men entrepreneur in owned design and technology sector industry. The business was incorporated in 2007 and his company as an independently owned design and technology with comprising designers, producers, developers and programmers idea into an engaging intelligent and innovative solution towards achieving users satisfaction. Finally a matured women entrepreneur from south coast of Malaysia and her company run retail, woman clothing, traditional herbs and school uniforms. Throughout four years in the business, her business grows speedily amongst the market. Thus, eventually in general, the findings of this study provide as a road map for entrepreneurs to be successful in their effort to accomplish higher venture growth. As a result, this study supports all the research propositions as follows:

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The impact of entrepreneurial role models generally interrelated to involving the entrepreneurs, employment in the business and significantly related with interest in starting a business towards the success factors in entrepreneurship. Therefore, the entrepreneurial role models element appears to be linked with the three cases which are Case 1, Case 2 and Case 3. Thus, this study did support the proposition (P) 1a: There is a positive relationship between entrepreneurial role models and the success in entrepreneurship.

In a further understanding of the entrepreneurial process and environment, therefore, it is crucial to find the presence of experienced entrepreneurs. With regards to these contacts, the presence of experienced entrepreneurs comes out to be related with only two cases which are case 1 and case 2 and they are definitely agreed that the business owner or founder obtain their business idea from a previous job as well as helped them to predict the performance of their ventures. Hence, this study did support the proposition (P) 1b: The presence of experienced entrepreneurs will be positively associated to the success in entrepreneurship.

Skills and knowledge of entrepreneurs are particularly important to performance in emerging market industry and may impart more entrepreneurial opportunities attractive as well as leads to the successful entrepreneurs. As a result, this element is remarkably important in order to be a successful entrepreneur and all the interviewee supported this proposition (P) 1c: The higher skills and knowledge of entrepreneurs leads to greater likelihood to the success in entrepreneurship.

Cultural attitudes towards entrepreneurship also one of the mechanisms that contribute to the entrepreneurial success and it would positively relate to motivating force for the business growth. Hence, this is also strongly established and all the four cases through the interview supported this element and them likely to increase ones desire to engage in entrepreneurial activities by the surrounding local community concerning entrepreneurship. For this reason, this study did support the proposition (P) 1d: The cultural attitudes towards entrepreneurship would be positively related to the success in entrepreneurship.

Certainly, we suppose that the proximity of entrepreneurial universities does indeed have a positive relationship to entrepreneurship. A low level of education and exposure could prevent motivated entrepreneurial movement in their surroundings. This was also affirmed by three cases (case 2, case 3 and case 4) with the aim of the entrepreneurial movement within universities been met with both enthusiasms
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towards the successful entrepreneurs. Therefore, this study did support the proposition (P) 1e: There are positive relationship between proximity of entrepreneurial universities and the success in entrepreneurship.

Entrepreneurs need capital support services in order to develop their business. The business angels and risk capital availability would be as an addition support to financial assistance. For that reason, this element is directly quoted by the interviewee from the two cases which are case 3 and case 4. They remarked that these entities are crucial in helping those genuine entrepreneurs as well as contributed the ability and willingness to provide the company with enough capital to move the business to the next phase. Thus, this study did support the proposition (P) 2a: The business angels and risk capital would be positively associated with the success in entrepreneurship.

Generally, entrepreneurs need and require financial support for their business. The availability financial resources prospects concern to affluence formation, which is ordinarily supposed as a right need for all varieties of different individuals conducts. Notwithstanding, this study did support the proposition (P) 2b: The more favourable availability of financial resources, the greater ability to the success in entrepreneurship.

Government influences and supports for entrepreneurship is also very crucial to promote the entrepreneurial development in order to guarantee SMEs future business success. This was supported by case 1 and case 2 which are it is very innovative and timely. Thus, this study did support the proposition (P) 2c: The more favourable government influences and supports for entrepreneurship, the higher ability to the success in entrepreneurship.

Finally, the role of government policies on entrepreneurial activity may determine the market instrument and make them function expeditiously. The government support policies are one of the key elements for hastening the emergence of entrepreneurs. This element are strongly have a full supported from all the four cases especially in making sure the marketability and identifying new potential markets for SMEs. These may also have the products exported to other countries using the government platform. As a result, this study did support the proposition (P) 2d: The role of government policies on entrepreneurial activity would be positively to the success in entrepreneurship.

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The results of the study should be conceived with regards to its limitations, which is also point to some issues for the upcoming research. The future research may investigate and validates the result of this study throughout a large-scale within and cross cases using quantitative analysis. The more exploration of potential entrepreneurs and businessmen in the various sector industries who have recently started their ventures may provide more valid, extensive and supportive insights. As a final point, being a qualitative study it cannot avoid the researcher bias and the lack of generalizability. Even though the study has followed the right steps towards objective, there might also be the other various ways of data interpretation. Therefore, it is not impossible to infer causation in these studies of the result to the universe in this case population. Moreover, it may be useful to observe a mixture of types of success factors as for examples; partition the business environment into different categories such as market openness and strategy, research and development transfer, supportive environment, etc in order to comprehend entrepreneurial motivation in Malaysia. Finally, the future research line may also focus on the different geographical region in Malaysia or within each of the other developing countries.

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APPENDIX 1: CASE STUDY/ INTERVIEW PROTOCOL 1. Purpose The purpose of this protocol is to guide the data collection for the cases in a multiple case study research. The research will examine the factors that contribute to the entrepreneurial success and the case study protocol will be used to collect the information about the presence and interaction of entrepreneurial culture and mindsets together with entrepreneurial supports and governmental policies elements towards the success in entrepreneurship. The goal of this case study is to provide information that gives a deeper insight into the role of culture and policies regarding effectiveness towards an improvement in business growth.

2. Overview of the Case Study Project 2.1 Research Study Questions This study aims to explore the relationship between the success factors in entrepreneurship with the two dimensions which are entrepreneurial culture and mindsets together with entrepreneurial supports and governmental policies. In particular, this research needs to deal with the following main research questions: What is the entrepreneurs profile in Malaysia? What are the characteristics of new firms in Malaysia? What are the success environmental factors in entrepreneurship? Which are the most important success environmental factors in entrepreneurship? 2.2 Propositions: The goal of this study is to find enough support to conclude if there is a positive relationship between environmental dimensions and success in entrepreneurship. Therefore, we will aim to validate the following propositions: P1 (a): There is a positive relationship between entrepreneurial role models and the success in entrepreneurship P1 (b): The presence of experienced entrepreneurs will be positively associated to the success in entrepreneurship P1 (c): The higher skills and knowledge of entrepreneurs leads to greater likelihood to the success in entrepreneurship P1 (d): The cultural attitudes towards entrepreneurship would be positively related to the success in entrepreneurship P1 (e): There are positive relationship between proximity of entrepreneurial universities and the success in entrepreneurship P2 (a): The business angels and risk capital would be positively associated with the success in entrepreneurship P2 (b): The more favourable availability of financial resources, the greater ability to the success in entrepreneurship. P2 (c): The more favourable government influences and supports for entrepreneurship, the higher ability to the success in entrepreneurship P2 (d): The role of government policies on entrepreneurial activity would be positively to the success in entrepreneurship

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2.3 Relevant Literature Review This study will use a case study methodology for the study design and the methodology to collect and analyze qualitative data. For that reason, we follow first the conceptual framework proposed by Gartner (1985) for describing the phenomenon of new venture creation and more towards to the variables in the environment dimensions as a base. This framework classifies the articles according to four key dimensions of venture creation and ownership: individual, environment, process and organization. Nevertheless, in order to be able to apply the model to this research, we narrowed down this framework towards the environmental dimension. This research was concerned generally to see how the environmental variables influenced the success in entrepreneurship. The phenomenon (e.g., new business start-ups) and its context (e.g., the local business and community environment), according to Yin (1989), may not be readily distinguishable, thus he suggests that the case study definition include characteristics stipulating data collection and analysis requirements. Consorting the literature of Yin, in Case Study Research Design and Methods (2003), defines case study research as an empirical inquiry that investigates a contemporary phenomenon within its real-life context, especially when the boundaries between phenomenon and context are not clearly evident. Therefore, with respect to this, we arranged into group the environmental situation into two proportions, which are the entrepreneurial culture and mindsets and entrepreneurial supports and governmental policies. Figure below presents the integrated model and the interaction we have assumed here between success factors in entrepreneurship and these variables.

(Figure above shows a framework to be used in this study) 2.4 Research Design According to Yin (1988), a research design is the logic that links the data to be collected to the initial questions of a study. The objective of this study was to conduct a qualitative research to analyze the success factors of entrepreneurs in Malaysia as the entrepreneurship nowadays portray the importance of the economic enlargement activity worldwide. Therefore, the study design took into account the conceptual framework defined in the previous which shows all the elements taken into consideration. The unit of analysis for the study was the successful entrepreneurs in Malaysia. The multiple cases were examined because they provided more evidence than a single case, produced more compelling study and added confidence to the finding (Yin, 2003).

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3. Techniques for Data Collection and Analysis 3.1 Data Collection Case study research typically employs multiple data collection methods (Benbasat, Goldstein & Mead, 1987). Data for this study were collected through interviews. The sample was made up of the business owner or business founder who responded to questions regarding the success factors in entrepreneurship. As mentioned by Yin (1988), a case study protocol is more than an instrument and the interview protocol was developed to guide the interview process (Kvale, 1996). The aim was to get each respondent to answer regarding several subject matters; they will were asked questions starting with the general organization profile; the entrepreneurial culture and mindsets as well as the last section about the entrepreneurial supports and governmental policies. A case study protocol containing the procedures to direct the data collection for the cases will be developed and used to aid the exploration of the research questions. 3.1.1 Interview Interview will be conducted with a selected of key individuals which have a number of years after the establishment and operation of a business may not precisely reflect the challenges faced in entrepreneurial success from economic developers in the community. The interviews will be focused (Yin, 1994), and it means they will were asked questions starting with the general respondent and organization profile; the entrepreneurial success; the entrepreneurial culture and mindsets as well as the last section about the entrepreneurial supports and governmental policies. Yin argues the protocol should contain the following sections: an overview of the case study project; field procedures and case study questions to be kept in mind when collecting data. Thus, having a case study protocol is desirable under all circumstances, but it is essential if we are using a multiple case design. The interviews will range from approximately forty minutes to one hour and will be recorded with prior authorization from the respondents. Follow up questions will be done via telephone to clarify any specific points brought up during the interviews. A structured interview protocol draft will be developed to guide the interview process (Kvale, 1996). Thus, an average of four entrepreneurs will be interviewed. 3.2 Data Analysis The main issue of studies executed using case-based qualitative research is deciding prior to the start of data collection as well as how much data to collect. To help address this problem, several steps were taken before hand including the development of a predefined framework and the outline for the case study reports.

4. Criteria for Evaluation As proposed by Yin (1994), he indentifies four tests that can be used to evaluate the quality of research design and determine the rigor of the study. The tests are: a) construct validity, b) internal validity, c) external validity and d) reliability. An overview of these tests and how they will be addressed in this study as following: a. Construct validity establishing correct operational measures for the concepts being studied (Yin, 2003). This was addressed in this study by collecting data through multiple sources, review the case study reports and maintain chain of evidence. Internal validity establishing a causal relationship, whereby certain conditions are shown to lead to other conditions as distinguished from spurious relations (Yin, 2003) and this was addressed by the use of pattern matching technique analysis. External validity establishing the domain to which findings of study can be generalized (Yin, 2003). This was demonstrated in this study by using multiple cases for replication logic to generalize the findings into the theory.

b.

c.

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d.

Reliability demonstrating that the operations of a study such as the data collection procedures which it can be repeated with the same result (Yin, 2003). This proved from this research through the development of the research framework in order to guide the data collection and analysis, a case protocol and maintaining a case study database tracking for this study.

5. Interview Protocol The interview was intended for capture the narrative related to the dynamics inside of entrepreneurial activities and to discover the individual characteristics involved with knowledge acquisition, transformation and application needed for a better implementation. While as we cannot disclose due to the privateness reasons, all four companies personal confidentiality given is treated in the strictest confidence (hereafter referred as the company). Therefore, the research to be written will not identify the corporation name. Thus, for this qualitative data collection methodology, the sample was elected from the subsequent categories: CASE CASE SUMMARIZE This company is established in 2003 through self financing by a young guy with a big vision. The Case 1 success of the company lives in the strong spirit and belief that is so dear to the owner, which is whatever it takes. His company involved in tourism sector in the inbound and outbound tour, ticketing, events, conventions as well as seminars. Before he owned the business, he worked in the hotel industry and also as a part-time travel agent for eight years. He founds that tourism industry is his passion and believes that he could go further with this. Drove by the desire to be in control of his own destiny and coupled with his experience and support from his late father as well as benchmarking himself with the role model that he adores so much, Tun Dr Mahathir Muhammad, the former Prime Minister of Malaysia , he bring himself to one step further to be an entrepreneur. Living in these two parameters, his company never failed. Throughout seven years in business the company manages to accumulate less than RM 5 million sales turn over and the business grows rapidly amidst the market and economy uncertainties. The first few years in business were a daunting experience to him. He needs to have a lot of saving and sometimes will auction some of his assets in getting the working capital. However, the belief that is so dear to him and also supports and encouragement from friends, relatives and acquaintances has helped him to sail through all the obstacles successfully and has forced him to be an innovative person. Case 2 The second company is one of the new groomed SME in the state of Kelantan of Malaysia. Located in east coast which popular with varieties of foods and tradition. Spices and food producing, spices repackaging and retailing are the core business which established since 2005. Self interest in cooking, trying new recipe in addition to basic knowledge of business during her childhood brought this women entrepreneur into the entrepreneurship arena. She started the business without formal intentions to commercialize it until started to be more serious since the last few years as the business grow is positive. Her company has RM 250,000.00 to less than RM 5 million annual sales turnovers with the total of thirty two skilled and unskilled employees. Her first venture started with introducing her cooks to her friends. The uniqueness of the tastes and its differences make the demands of her cooks became appealing. The demands grew and she started to cook more every day until she found out why she doesnt turn from producing ready cook meals into producing the spices to be used for the cook and customer can buy the spices and cook by themselves. The owner of this company is a risk taker, but she is firm with her vision. She shoot a try in producing the spices of her own food recipe, put them into a presentable looks and started going into the market and now she made it. Sky is the limit is the motto for a young Information Technology (IT) male entrepreneur. He realized that Multimedia, IT, Web and Video Production is one of the services which continuously demanding within the evolving era of technology. To remain competitive, companies need to be on the par with global technology evolution where his company provides the solution. He is already a business owner with, almost unbelievably for a person of his age, two years of entrepreneurial experience. He incorporated this business in 2007, making him, at 28, one of the youngest company directors in Malaysia history. He managed to have thirty skilled and two unskilled employees. He completed his

Case 3

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postgraduate study in Multimedia Creative which makes him more reputable and brings customer confidence in dealing with his service. The annual sale turnover is RM250,000.00 to less than RM5 millions makes his company stand strong among its competitors. He quite satisfied with his achievement so far. Within years of establishment, the company reached RM1.5 millions target and RM5 millions for the next 2 years target. Success is a ladder that cannot be climbed with your hand in your pocket. Work Smart and Think Hard he said when he been asked about the attribute that motivates him the most in achieving long term success. He learns from a role model who works hard and risk takers. He attracted to decision making and problem solving style from his role model. For him, it is better to learn from others mistake rather than learn from his own mistake. He learnt from his friends, lecturers that not many of them willing to leave their five figure jobs to run the business. Definitely he believed that hard work will pay. Case 4 The fourth company belongs to a matured women entrepreneur from South Coast of Malaysia agreed that the best way to achieve long term target is by building the target around a short and middle term target and strive to achieve the targets. The company was created in 2007 and it runs retail, woman clothing, traditional herbs and school uniforms. This company has thirty two employees consists of skilled and unskilled workers. Throughout four years in the business, the company manages to progress up to RM250,000.00 sales turnovers and the business grows speedily amongst the market. This employment segmentation helps her to balance her business income and spending in term of salary payout to the employees and skill transfer from skilled to unskilled, and from skilled to become expert workers. She was a teacher before becoming an entrepreneur. Her financial wealth and stability inspire her more to become a successful entrepreneur with her own skills and interest. Even though she is from the family and community which not business minded type of person, but she proves she was able to stand up with her own choice and she made it.

The rationale behind selecting different profile criterias of respondents was to consent to key comparisons to be made. Therefore, the pilot case reports are mainly of the value to the researcher and needs to be written clearly, even if in the form of the memoranda. If enough pilot cases are done in this manner, the final agenda may actually become a good prototype for the final case study protocol. 5.1 General Aspects The following main issues should be addressed by the interviewer throughout the interview: 1. Brief explanation of study, the purpose of the interview and the potential use of the result 2. Reassure confidentiality of the information given 3. Gathered of general information regarding the respondents and the organization 4. Gathered information related to their succeed in business 5. Gathered information environmental situation into two proportions, which are the entrepreneurial culture and mindsets and entrepreneurial supports and governmental policies as well as try to relate to the success factors in entrepreneurship. 6. Ask the respondents to add anything more if any specific element that not included during the interview that might be important. 7. Closing the interview when the interview draws to an end, thank the interviewee by name, saying something like thank you to their support, time and cooperation. We may also ask their personal contact number and email address for follow up or to clarify the questions as well as to let the respondents know if they would like to receive a report of the study. 5.2 Interview Commencement The interview starts with an introduction from the researcher in regards with the intention to give some level of comfort to the respondent by creating a trustful environment. The following statements could be used:

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Good Afternoon, first and foremost, I would like to thank you for volunteering your time to be a part of my research study as well as the respondent for this study. First, let me introduce myself. Im Siti Nor Wardatulaina Mohd Yusof (you may call me Aina), and as a PhD student in the department deconomia de lempresa at the Universitat Autonoma de Barcelona, Spain. I am conducting research under the supervision of Professor Dr David Urbano which researching the Success Factors in Entrepreneurship: The Case of Malaysia. After the introduction, the respondent will be given the explanation of the purpose of the study and the confidentiality of the information given. The researcher should continue to create a trustful environment. The following lines could be used: The purpose of this survey is to analyze the success factors of entrepreneurs in Malaysia as the entrepreneurship nowadays portrays the importance of the economic enlargement activity worldwide. There are a number of respondents were selected from a various industry sectors. I am glad to inform you that your firm is one of the selected samples for this study. Currently Im in at the data collection stage that requires urgent response from all the respondents. Your participation would be greatly appreciated and I hope you could answer all the questions and this shouldn't take up too much of your time. I also would like to inform you that any information given will be treated in the strictest confidence. Personal confidentiality will be maintained throughout the research. The research to be written will not identify you or your corporation. Next, the researcher states again how the interview will unfold and starts asking the general questions, background information, and organization profile. This based on the following lines: Respondent Profile: 1. 2. 3. 4. 5. Respondents name: Where and in what year were you born? What is your gender? Your position in the organization: Do you have entrepreneurial family background? And if affirmative, what is the relationship between you and the person? What is your present academic qualification? (Please choose one) Primary studies Secondary studies University studies Postgraduates Vocational training Others (please state): What made you start your particular business? Would you tell me about yourself before you started your first venture?

6.

7. 8.

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9.

Whom else did you know while you were growing up who had started or owned a business and how did they determine you?

10. Were your parents, relatives, or close friends entrepreneurial? How so? Organization Profile: 11. Name of the organization: 12. Year when the organization was created: 13. How long has this establishment been in business? 14. Which sector is your company belongs to and what is your core business? 15. Which is the best to describe your involvement in the business? Business owner or business founder? 16. Organizations annual sales turnover is (in Ringgit Malaysia): Less than 250,000 250,000 to less than 5 million 5 million to less than 10 million More than 10 million 17. Type of your business organization? (Please choose one): Sole proprietorship General partnership Limited partnership Corporation Others (please state): 18. No. of employees: Total Skilled employee: Total Unskilled employee: 19. Where do you market your products {In Percentage (%)}? Malaysia = Singapore = European = USA = Others (please state): 20. How would you rate your organization profitability over the last 3 years? (Please choose one). Increased tremendously Very much increased Increased slightly Stagnant Decreased SITI NOR WARDATULAINA MOHD YUSOF

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Next, the researcher states again how the interview will extend and starts asking the entrepreneurial success. The following lines and questions could help the respondents opinion and perspective: 21. What is your definition of success and has your company achieved it? 22. How far are you willing to go to succeed? 23. How long did it take you to get where you wanted to be? 24. What is the best way to achieve long-term success? And what do you most attribute your success?

Next, the researcher states again how the interview will extend and starts asking the entrepreneurial culture and mindset. The following lines and questions could help the respondents opinion and perspective: As an experience person in your industry, we seek your opinion with regard to the above statement. Therefore, could you please answer the following questions based on your industry? Proposition (P1 a): There is a positive relationship between entrepreneurial role models and the success in entrepreneurship

25. Do you have role models? How role models help clarify your business vision? 26. Generally, individuals are attracted to role models that are actively helpful in requiring new tasks, skills, attitudes, and norms. Did you agree? If yes, how did they influence you? (As reviewed by Zhao, Seibert, & Lumpkin (2010) conclude that Interest in the role of personality in entrepreneurship has recently seen a reemergence after a hiatus of almost 20 years e.g., (Baum, Locke, & Smith, 2001; Ciavarella, et al., 2004). 27. From your opinion, when an individual finds a role model relevant to his or her needs and goals, and views the position of the role model as potentially attainable, does a role model can provide motivation and inspiration particularly in business? Please elaborate more. (Quote from Hisrich, 1990; Krueger, 1993); In the literature assured that the human capital elements of the entrepreneurs such as education, age, work history, role model and support networks have positive contributions in business).

Proposition (P1 b):

The presence of experienced entrepreneurs will be positively associated to the success in entrepreneurship

28. Did you have a business or were you in self-employment during your formative years? What kind of business? Was it the same as with the current one? 29. In particular, did you have any experience? How important was it, or a lack of it, to starting your company? (As appraised by Vesper, 1980 indicated that: Work experience may be more important when it is necessary to rely on inside industrial information and in highly competitive businesses.)

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30. Do you think that business founder obtain their business idea from a previous job? If yes, does it help predict the performance of their ventures? (Citation from Herron & Robinson, 1993: Research has shown that founders' current skills could predict the performance of their ventures and that their predictive ability varied across economic environments.)

Proposition (P1 c):

The higher skills and knowledge of entrepreneurs leads to greater likelihood to the success in entrepreneurship

31. How did you spot the opportunity in your business? How did it surface? 32. The fact that prior knowledge of market, industry and customer needs can be a major advantage to entrepreneurs in terms of recognizing potentially profitable opportunities. From your experience, what are the most crucial things you have done? (Reference from McKelvie & Wiklund, 2004; Shane, 2000: A lot of researches have acknowledged the fact that prior knowledge of a market, industry, or customer needs can be a major advantage for entrepreneurs in terms of recognizing potentially profitable opportunities). 33. How did you discover those opportunities related to your skills and knowledge? (According toShane, 2000): An entrepreneur can discover only those opportunities related to his/her prior knowledge) 34. From your standpoint of view, what are some key factors that may lead to business failure? Were they due the lack of management skills or incompetency? (Based on ONeill & Duker, 1986; Terpstra & Olson, 1993: A mixture of studies found that some key factors may lead to the business failure were due to the lack of management skills or competencies)

Proposition (P1 d):

The cultural attitudes towards entrepreneurship would be positively related to the success in entrepreneurship

35. What made you decide to go into business for yourself? 36. Are the images of entrepreneurship having a positive effect on your entrepreneurial intention? (Citation from Scholten, Kemp, & Omta, 2004: The image of entrepreneurship has a positive effect on entrepreneurial intention) 37. How about the surrounding local community concerning entrepreneurship? Are they likely to increase ones desire to engage in entrepreneurial activities? (From study of Mokry, 1988 he proposed that local communities can play an important role in developing an entrepreneurial environment.)

Proposition (P1 e):

There are positive relationship between proximity of entrepreneurial universities and the success in entrepreneurship

38. What was your education experience? In observation, was it helpful? In what specific ways? 39. Do you think that the entrepreneurial movement within universities been met with both enthusiasm towards

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the successful entrepreneurs? In what particular conduct? (Quote from Mowery, Nelson, Sampat, & Ziedonis, 1998: The entrepreneurial movement within universities been met with both enthusiasm and resentment as the scholarly community struggles with the ethical implications of such activities). 40. We suppose that the proximity of entrepreneurial universities does indeed have a positive relationship on entrepreneurship. From your point of view, is the knowledge spillovers from universities could be identified as key factors in promoting firm innovation and performance? How do you measure it? (From Stuart & Sorenson, 2003; Hall, Link, & Scott, 2003: In addition, spillovers from universities, as well as from private firms, have been identified as key sources promoting firm innovation and performance). 41. Do you think that presence of universities for training and research assistance were important factors contributing to become more entrepreneurial? How so?

Next, the researcher states again how the interview will extend and starts asking the entrepreneurial supports and governmental policies with the introduction of the definition of terms will use. The following lines and questions could help the respondents opinion and perspective: Risk capital industry consists of firms staffed by professional money managers that are funded by insurance companies, major corporations, pension funds, foundations and the government. Business angels are individuals who have the ability and willingness to provide your company with enough capital to move your startup businesses to the next phase. Business angels are primarily local people who are, relatively speaking, financially independent. Proposition (P2 a): The business angels and risk capital would be positively associated with the success in entrepreneurship

42. What are the main sources of financing on the support for your business creation? 43. How difficult was it to get investors? How did you find working capital support for your business? What kind of investor that you get (Risk capital or Business angel)? 44. How would you think that creation of investment companies, provision of low-interest loans and availability of credit guarantees schemes for small business financing have all contributed to the establishment and success in business? (According to Dana, 1987; Harrison & Mason, 1988; Hawkins, 1993: Research has shown that creation of investment companies, provision of low-interest loans, and availability of credit guarantee schemes for small business financing have all contributed to the establishment of new businesses). 45. In your perspective, do you consider support from informal networks such as friends, relatives and acquaintances to be important and will benefit the business? (Based on Raduan Rose, et al., 2006: The supports from informal network such as friends, relatives, previous employers and acquaintances have found also to benefit the business.

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Proposition (P2 b):

The more favourable availability of financial resources, the greater ability to the success in entrepreneurship.

46. Did you finance your business though bank? If yes, do you think that this is supposed as a right need for all varieties concern to business formation and growth? How? 47. As such, a bank-based loan financial is perceived to enhance entrepreneurship. From your opinion and experienced, does a bank require absolute top credit references from loan applicants? (Quote from Levine, 2002: An equity-based financial system is perceived to enhance entrepreneurship and economic growth more than a bank-based financial system). 48. How would you think about the fact that there are an analysis of bank finance based on assumption that there is a stigma/mark that attaches to entrepreneurs if a project fails? (According to Landier, 2003: The offers an analysis of bank finance and venture capital based on the assumption that there is a stigma that attaches to an entrepreneur if a project fails.) 49. The role of development of formal financial institutions such as banks in fostering in emerging economies through lending policies and prioritization of national industrial-development goal. From your opinion, how it can help entrepreneurs? (Based on George and Prabhu, 2002 highlight: The role of developmental financial institutions in fostering entrepreneurship in emerging economies through lending policies and prioritization of national industrial-development goals.)

Proposition (P2 c):

The more favourable government influences and supports entrepreneurship, the higher ability to the success in entrepreneurship

for

50. There are five major areas of government support programs for SMEs in Malaysia currently which are: Financial and credit assistance; Technical and training assistance; Extension and advisory; Services, marketing and market research; and Infrastructure supports. Therefore, do you think efforts involvement for greater ability to the success or not? Why? (Citation from Abdullah, 1999b: There are five major areas of government support programs for SMEs in Malaysia, among which are: Financial and credit assistance; technical and training assistance; extension and advisory services; marketing and market research; and infrastructure supports). 51. Regarding credit guarantee associations existence to guarantee loans for SMEs; do you think that local government play an effective role in promoting and supporting entrepreneurial activity? How? (Based on Hawkins, 1993 study, he found that: In Japan, 52 credit guarantee associations exist to guarantee loans to SMEs; local governments have special funds that serve as a reserve for loans to SMEs.) 52. With adequate policies from the government, can they create an enterprise culture? Can you give some suggestions to stimulate and encourage entrepreneurial activity? (Gnyawali and Fogel, 1994 mentioned that: Governments could influence the market mechanisms and make them function efficiently by removing conditions that create market imperfections and administrative rigidities. They can also create an "enterprise culture" that enables firms to take reasonable risks and seek profits.)

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Proposition (P2 c):

The role of government policies on entrepreneurial activity would be positively to the success in entrepreneurship

53. What are the key considerations in selecting the rules and procedural requirements in order to ensure business success? (In the literature of Dana, 1987; Young & Weisch, 1993: Entrepreneurs may be discouraged to start a business if they have to follow many rules and procedural requirements, if they have to report to many institutions, and if they have to spend more time and money in fulfilling the procedural requirements). 54. The government policies influence new venture/business creation throughout legislation and regulation, licenses, taxation etc. From your standpoint of view, does the government have a very positive attitude towards to this business achievement? (As mentioned by Grundsten, 2004: The government policies influence new venture creation throughout legislation and regulation, licenses, taxation, etc. Similar example can be found in the public discussion the role of taxation is a relatively common topic concerning policies that affect entrepreneurship). 55. Have you been involved in any government procurement programs such as protection of intellectual property, proprietary idea and innovations, support for entrepreneurship? How does it work in your business? (As affirmed by Westhead, 1990: There are several policy options for developing entrepreneurship. These policy options include provision of venture capital funds, tax-based incentives, and government procurement programs; protection of proprietary ideas and innovations; investment in education and research; explicit recognition of, and support for, entrepreneurship by government agencies; fostering of entrepreneurship by educational institutions; and minimization of entry barriers.) 56. Do you think that service and support programs for business creation and growth implemented by the government is very important to cultivate SMEs expansion? How?

To finish up, the researcher should be make sure to ask if anything that the respondent may add or comments. The following lines could be help: 57. Before we finish up, how do you think programs and services available today could be further enhanced to better meet entrepreneurs needs? And what else might be required? 58. In conclusion, is there anything more you would like to add? 5.3 Closing the Interview The researcher/interviewer should make sure saying something like thank you to their support, time and cooperation. We may also ask their personal contact number and email address for follow up or to clarify the questions as well as to let the respondents know if they would like to receive a report of the study. This could be: I would like to thank you for your support and I am most grateful for the cooperation and attention you give, and please do not hesitate to contact me if you have any enquiry about this study. I greatly appreciate your time and feedback. Please let me know should you like to receive a report of this study. And again, thank you very much for participating in the survey.

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6. Project Timeframe and Agenda In October, initial field appointment as well as carrying out interviews scheduled time took place where a topic for discussion and interview questions was made, and the literature review of the research were clearly discussed. On the January the research was reviewed and approval of final research report done as described in table 4 and 5.
Research proposal

Literature review

Topics for discussion and interview questions were drafted.

Field appointment and conduct the pilot interview session as well as carrying out interviews scheduled time

Transcribing interview recordings.

Carrying out analysis of the data by using the ATLAS.ti software.

Analyzing data and writing a case study report

Develop the theory

Writing the results Write up and draft done

Review and approval of draft

Final report done

October

November 2010

December

January 2011

(Figure above shows the project timeframe)

1. 2.

Planning the research Fieldwork {plan, act, observe & reflect} and {Revised plan, act, observe & reflect} Evaluation Conclusions from fieldwork (1st draft) Planning final draft Writing final draft Evaluating, seeking comments, revising and proofreading Reflections and conclusions of the research

Research

3. 4. 5. 6. 7. 8.

Writing

(Figure above shows the research session agenda)

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APPENDIX 2: INITIAL CONCEPTS AND VARIABLES LITERATURE


NO 1. YEAR & AUTHOR{s} 1992Wui-sum Siu and Robert G. Martin THEORETICAL FRAMEWORK Wilkcns hierarchy of levels for studying entrepreneurial behaviour. OBJECTIVES This paper examines the following factors which might influence the emergence of entrepreneurship: (I) economic; (2) non-economic; and (3) psychological. It then relates these factors to Chinese culture in an attempt to explain the apparent success entrepreneurial skills of the Chinese people in Hong Kong This study examines the relationship between formal education, experience and selfemployment, as well as other moderating variables related to an individuals life experience will affect the success of an entrepreneur DATA/TECHNIQUE {S} Exploratory study Qualitative FINDINGS/RESULTS Entrepreneurship is the intervening variable and should also be considered as a major factor in stimulating economic development, both the government and academicians should respond to this issue. FUTURE RESEARCH In the future, Hong Kong academic researchers should also concentrate their efforts in assisting small business owners. VARIABLE{S} Governmental influences and policies support

2.

1994Peter B. Robinson and Edwin A.Sexton

Public-use B sample of the U.S. Census of Population Quantitative

3.

1998 Benson Honig

This research examines the performance of 215 informal microenterprises in Jamaica, to determines success factors by studying the influence of human capital, social capital and financial capital of the owners on their business profitability

From informal microenterprises in Jamaica - Quantitative

Education does indeed have a close relationship to entrepreneurship, in that entrepreneurs (self-employed) do have a higher level of education than those in the wage and salaried sector. In addition, higher levels of education increase both the probability of becoming self-employed and the success of individuals in that sector in terms of the earnings. The effect of education and experience increase over the span of ones career as the levels of experience increase This study shows the importance of considering heterogeneity when examining informal sector micro entrepreneurship, as well as the influence of critical human capital and social capital variables.

One major shortcoming of the study was inability to study the effect of specific types of education or educational programs such as business school or entrepreneurship programs as opposed to general levels of education. Further research regarding the relationship between social capital and entrepreneurship is both warranted and necessary, to better understand these dynamic aspects of organizational activity.

Proximity of Entrepreneurial Universities

Entrepreneurial Role Models and Financial Resources

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4.

2001Christian Keuschnigg and Soren Bo Nielsen

Simple Partial Equilibrium Model

To analyze several policy entrepreneurial success measures addressed at venture capital activity: government spending on entrepreneurial training, subsidies to equipment investment, and output subsidies.

Case Studies - Qualitative

Venture capitalists actively help with managerial advice and essential industry experience of business development.

5.

2001Miri Lerner and Sigal Haber

The Environmental Milieu Approach

* The study assesses environmental factors, including those of the particular industry, and the business and personal factors associated with the success of tourism ventures.

Privately-owned businesses in the tourism industry, located in the south of Israel - Quantitative

6.

2001 Werner H. Hoffmann and Roman Schlosser

Transaction-cost theory, the resource-based and knowledge-based strategic theory as well as on interorganisation theories Theory of entrepreneurship

This study aims to identify critical success factors in alliance-making with special consideration given to the specific situation of small and medium-sized enterprises (SMEs)

Key executives in 164 Austrian SMEs Quantitative

7.

2003C. Mirjam van Praag

The objective of this paper is to quantify the person-specific determinants of survival duration and of success in business

National Longitudinal Survey of Youth (NLSY) Quantitative

The results indicate the dual nature of the impact of institutional support upon the tourism ventures performance. Success in persuading external sources to provide financial support would seem to be evidence of the soundness of the ventures planning and its economic viability. The results of study show that all important theoretical perspectives essentially contribute to explaining why alliances are successful. The identified success factors utilize concepts developed in the resource-based view of firms as well as those from the transaction-cost and interorganisation theories. The results of the competing risks model, which distinguishes compulsory from voluntary exits, could be useful for initiating policy measures aiming at longer lasting business ventures. The model shows in which cases business hazards are high through a lack of motivation to continue and in which cases compulsory exits should be prevented.

The extensions could possibly provide some rationale for government activity other than the productive contribution emphasized in this paper Further research should compare the performance factors of tourism ventures with those of ventures in other economic sectors, particularly service industries. There is a strong need for collaboration research tailored to the specifics of SMEs, which represent more than 90 percent of all European companies.

Governmental policies to Entrepreneurship & SMEs and Business Angels

Financial Resources and Governmental Influences

Presence of experienced entrepreneurs and skills and knowledge of entrepreneurs

Entrepreneurial Role Models, Presence of experienced entrepreneurs and venture capital

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8.

2003Noam Wasserman

This paper seeks to begin filling the outlines some of the most central ways in which FounderCEO succession differs from succession in their business in the paradox of entrepreneurial success

Founder-CEO succession Quantitative

The analysis provides strong evidence of a linkage between Founder-CEO succession and the completion of both product development and each round of financing and skills of the technically adept Founder-CEO whose skills were the key to success until now and the new needs of the organization.

Further research that focused on the survival rates of entrepreneurial firms that experience Founder-CEO succession at different points in their development would enable us to perform a survival assessment of the intertemporal affects of FounderCEO succession.

Presence of Experienced Entrepreneurs and Skills and Knowledge of Entrepreneurs

9.

2003Nobuyuki Harada

This paper examines whether the probability of an entrepreneurs success is related to the entrepreneurs human capital and gender, and the initial size of the firm.

5911 Japanese firms Quantitative

10.

2003 - Robert A. Baron and Gideon D. Markman

Two studies investigated the higher entrepreneurs competence (their ability to interact effectively with others as based on discrete social skills), the greater of the financial success in their business.

Two groups of entrepreneurs working in distinctly different industries (cosmetics and high-tech) - a total of 230 individuals - Quantitative

First, the estimation results suggest that younger entrepreneurs tend to be more successful. Second, the importance of having related business experience before start-up is shown, while the effect of education. Third, it is shown that female entrepreneurs tend to be less successful. Finally, larger firms tend to have higher probabilities of success. Results indicated that one aspect of social competence (e.g., accuracy in perceiving others) was positively related to financial success for both groups of entrepreneurs. In addition, social adaptability was related to financial success for entrepreneurs in the cosmetics industry, and expressiveness was related to such success for the entrepreneurs in the high-tech industry.

Entrepreneurial and Role Models

Future studies should be conducted to determine whether, and to what extent, various social competencies do indeed influence entrepreneurs performance through these mechanisms.

Entrepreneurial Role Models , Business Angels and Financial Resources

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11.

2004Elizabeth Walker and Alan Brown

This research sought to explore the financial criteria are considered to be the most appropriate measure of business success

Exploratory in approach both qualitative and quantitative methodologies were adopted.

The motivation for people to go into small business ownership is varied, and includes financial as well as nonfinancial factors like personal satisfaction, independence and flexibility. This study has found that the owners of small businesses measure their success using both of these criteria, and that the non-financial lifestyle criteria are sometimes more important.

12.

2004Eva SchmittRodermund

Holland's E-type Approach

Concerning entrepreneurial success, the discussion concentrates on two implications of the findings: bank professionals dealing with venture capital loans would profit from a more thorough assessment of personality traits and programs to foster entrepreneurship should address adolescents in addition to adults.

East Germany Quantitative

The right personality profile is important for entrepreneurial success and venture capital loans would profit from a more thorough assessment of personality traits.

This study just restricted to the property and business services sector and including many homebased businesses, show that owners who are financially motivated are in the minority and that most small business owners are content to stay very small. More systematic testing of the personality and skills of a future small business founder may help to provide a better overview of person characteristics and, thus, provide at least some information for a prognosis of the performance and survival of the business in question.

Financial Resources and Entrepreneurial Role Models

Entrepreneurial Role Models and venture capital

13.

2004Robert J. Sternberg

Emanates from the work of Baron and his associates (Baron, 1998, 2000a,b; Baron and Markman, 2000)

The article provide the descriptions of practical and creative intelligence and then describes how analytical (conventional), practical, and creative abilities merge in successful intelligence is needed for entrepreneurial success.

Quantitative

Successful entrepreneurship is not really just a story about intelligence in the traditional sense but more fully a story about successful intelligence - the strategic merger of analytical, creative, and practical intelligence. All three kinds of intelligence can be developed and are developed through good use of experience

Presence of experienced entrepreneurs and Entrepreneurial Role Models

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14.

2006Moshe Sharir and Miri Lerner

Social Entrepreneurship

This paper focuses on identifying the factors affecting the success of social ventures operating in social settings in Israel

Case Studies 33 social ventures founded in Israel Qualitative

15.

2006Raduan Che Rose, Naresh Kumar and Lim Li Yen

This study aims to investigate the formal and informal attributes of founding entrepreneurs contributing to success factors in influencing the venture growth.

Malaysia Enterprise for the year 1997 to 2003 Quantitative

16.

2006Raduan Che Rose, Naresh Kumar and Lim Li Yen

17.

2006Sammy Kingfai Hui, Josephine Csete and John Raftery

* This study was initiated to examine the relationship between venture growth and the following factors, namely personal initiative, human capital, areas of focus on competency and government support programs in order to contributing to their successful companies in Malaysia This paper explores the factors which successful Hong Kong construction and property entrepreneurs regarded as contributing to their success; it adds knowledge to the discussion of whether success can sensibly be explained.

Small and Medium Industries Development Corporation (SMIDEC) 1997-2003 - Quantitative and Qualitative

The study demonstrates eight variables as contributing to the success of the social ventures, arranged in the order of their value: (1) the entrepreneurs social network; (2) total dedication to the ventures success; (3) the capital base at the establishment stage; (4) the acceptance of the venture idea in the public discourse; (5) the composition of the venturing team, including the ratio of volunteers to salaried employees; (6) forming cooperation in the public and non-profit sectors in the long-term; (7) the ability of the service to stand the market test; and (8) the entrepreneurs previous managerial experience. The study found significant relationship between venture growth and entrepreneurs with high personal initiative, focused on specific competency areas within operations, finance, marketing and human resources. The entrepreneurs education level, working experience and whether their parents own business have a positive relationship with their success.

Future research might focus on those variables identified as being associated with success on a larger number of social ventures (100 or more), enabling examination of the relationships of each variable with the criteria of success.

Presence of experienced entrepreneurs

A preferable longitudinal research which would generate more accurate findings.

Governmental influences and financial

A similar study across other Asia Pacific and other developing countries are recommended.

Presence of experienced entrepreneurs, Government Influence and

Through in-depth interviews, participants shared their experiences and the factors they perceived as contributing to their success - Qualitative

Having a strong sense of interest, continual learning and commitment that is, a sense of obligation to the people who depend on them and to Hong Kong itself is what keeps motivating the six respondents to do well in the construction and property business.

The same combination of values and strategies would be an essential factor contributing to success in other industries and further exploration of this is encouraged.

Cultural Attitudes towards Entrepreneurship

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18.

2007Pamela Mueller

This paper analyzes the relationship between the exploitation of entrepreneurial opportunities were more successful in surviving

West German regions between 1990 and 2002 Quantitative

19.

2007Sigal Haber and Arie Reichel

Resource-Based View

20.

2007Jean-Etienne de Bettignies & James A. Brander

Using Douglas and Shepherd (1999) model approach

The study attempts to empirically examine, within the context of the tourism industry, an integrative model combining the entrepreneurial process with resource accumulation. It is argued that Physical Capital Resources (PCR), Human Capital Resources (HCR) and Organizational Capital Resources (OCR) can contribute to a successful path of small venture sustainability This paper examines the entrepreneur's choice between bank finance and venture capital for the successful entrepreneurial venture

305 small tourism ventures - Quantitative

Research and development activities in the private sector are a fundamental element of growth. Governments should not be misled in believing that more entrepreneurship will ultimately lead to higher economic growth. Entrepreneurship promotion policy starts by stimulating entrepreneurial awareness and developing entrepreneurial skills. The identification of venture resources and their effect on performance. The study suggested a data-based resource allocation process model and its impact on the performance of small ventures. And this might reflect an optimistic business attitude that could be related for venture success

Governmental influences

Further studies examining the impact of the phases of venture creation and resource accumulation on performance in other industries are undoubtedly required.

Skills and Knowledge of Entrepreneurs and Venture capital / Business Angels

Case Studies - Qualitative

Venture capital tends to be preferred to bank finance when VC productivity is high and entrepreneurial productivity is low. The VC cannot survive as a pure financial intermediary; bank finance would always be preferred to a VC who could not provide managerial valueadded to the venture. Banks would have no particular preference for major success over modest success and therefore would focus simply on low failure probabilities. VCs, on the other hand, would be more willing to tradeoff a higher failure probability for some chance of a major success.

Venture Capital and Financial Resources

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21.

2008Ajay Thapa, Archana Thulaseedhar an, Arup Goswami and Lucky Prasad Joshi

This study has revealed many facts concerning the socioeconomic and motivational factors affecting street entrepreneurial success.

Interview with the street entrepreneurs in Vastrapur, India - Quantitative

22.

2008Michael Song, Ksenia Podoynitsyn, Hans van der Bij and Johannes I. M. Halman

23.

2009Alexander Kessler & Hermann Frank

The theoretical framework consists of 5 elements: entrepreneurial opportunities, entrepreneurial team, entrepreneurial resources, strategic, organizational fit and performance. The Vienna Entrepreneurship Studies (VES)

The studys integrated evaluation of the success factors of new technology ventures provides one step toward developing an integrated theoretical foundation for technology entrepreneurship as well as identifies universal success factors.

a meta-analysis to analyze the findings of 31 studies and identified the 24 most widely researched success factors for New Technology Ventures - Quantitative

This study has found that level of education has moderate positive relationship with profit from the business and the number of workers, size of initial investment on business and some motivational factors like family business and promising demand of the products/services are the major determinants on street entrepreneurial success. among the 24 possible success factors identified in the literature, 8 are homogeneous significant success factors for New Technology Ventures : (1) supply chain integration; (2) market scope; (3) firm age; (4) size of founding team; (5) financial resources; (6) founders marketing experience; (7) founders industry experience; and (8) existence of patent protection. The results show that each dimension differs in significance.

Entrepreneurial Role Models and Skills and Knowledge of Entrepreneurs

In future research financial resources, patent protection, supply chain integration, firm age, and size of the founding team may be considered as control variables.

Venture Capitals and Financial Resources

The main objective of this study was to develop and test a model which predicts the founding success of businesses using indicators related to the (1) entrepreneurial person, (2) environment (3) resources, and (4) founding process.

290 nascent entrepreneurs in Austria (19982001) Quantitative

The results of this empirical analysis based on the Vienna entrepreneurship Studies (VES) data set as well as the Panel Study of Entrepreneurial Dynamics (PSED) study support a comprehensive research approach, meaning that all four of the influencing dimensions postulated should be subjected to further research.

Presence of experienced entrepreneurs, skills and knowledge of entrepreneurs , Entrepreneurial Role Models and Venture Capital

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24.

2009Jose A Belso Mart|nez

A various survey of the theoretical literature

25.

2009Matthew S. Wood

Transaction cost theory

26.

2009Murali Sambasivan, Mohani Abdul & Yuzliani Yusop

The framework has been constructed based on the five schools of thought in entrepreneurship. There are three constructs in this framework: qualities-skills (personal qualities and management skills) is an independent construct, opportunity recognition skills is a mediating construct and venture performance is the dependent construct.

To examine various facets of entrepreneurship policies identified by economic literature as influential in the entrepreneurial decision as well as a broad range of factors explain the level of entrepreneurship and success in small businesses The goal of the paper is to enhance the understanding of proper organizational forminnovation attribute alignment as a key driver of innovation commercialization success, so that universities and their industry partners can increase their effectiveness in commercialization activities leading to successful entrepreneurship This research studied the role of personal qualities, management skills and opportunity recognition skills of entrepreneurs in influencing the venture performance.

72 Spanish footwear entrepreneurs year 2000 Quantitative

Some of the analyzed public policies significantly favor for business profitability and growth. Tax reductions and subsidies have emerged as essential tools to help businesses to survive and thrive during their gestation periods.

Further research is also needed to value the benefits and cost of these policies

Governmental influences and policies support

Further explanation of Zander and Kogut framework (1995) innovation knowledge taxonomy - Qualitative

The high level of transaction-specific investments indicates that the university would be best served by governing this transaction with the spin-off firm in order to successfully transfer the innovation to an existing firm.

Future research should explore the possibility that additional organizational forms could be employed in the commercialization of university-held innovations

Proximity of Entrepreneurial Universities

1275 SMEs in the manufacturing sector from all over Malaysia Quantitative

The results indicated that: (1)opportunity recognition skills had a pure mediating effect between qualities-skills and venture performance, (2)personal qualities affect venture performance through entrepreneurial alertness and (3) management skills affect venture performance through alertness and prior knowledge. These results can help agencies training and funding entrepreneurs. The better the opportunity recognition skill of the entrepreneur, the better is the success of the venture in terms of sales volume and sales growth.

Future studies can include additional samples from the service industry and the failed ventures to make the results robust.

Entrepreneurial Role Models, skills and knowledge of entrepreneurs and Venture Capital

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27.

2009Terrence C. Sebora, Sang M. Lee and Nittana Sukasame

Entrepreneurial ventures Critical Success Factors

This study focuses on the relationships between entrepreneurial characteristics (achievement orientation, risk taking propensity, locus of control and networking), e-service business factors (reliability, responsiveness, ease of use, and self-service) and governmental support towards the success of ecommerce entrepreneurs. To compares the entrepreneurial environment of Guangzhou and Changchun based on the date from Global Entrepreneurship Monitor (GEM) China report in revealing the impacts that environment makes on achiever entrepreneurship and entrepreneurial behaviors to describe the execution of experiential-business consultation program as adopted by University Kebangsaan Malaysia and to evaluate the ability of the program to fulfill the learning process according to Experiential Learning Theory together highlights the entrepreneurs success factors for such program The nature of entrepreneurial experience can shape how entrepreneurs adapt with the business success and comparative optimism

1,794 e-commerce entrepreneurs who registered with the Department of Business Development (DBD), Ministry of Commerce, Thailand. - Quantitative

The results show that the success of Thai e-commerce entrepreneurs are associated with founders who have high achievement orientation and an internal locus of control, confirming the results of many previous studies.

This study could have provided a more comprehensive understanding about the success of ecommerce ventures if it expanded its base to include customer perceptions as well. These issues could be considered for future research.

Presence of experienced entrepreneurs and Entrepreneurial Role Models

28.

2009Zhang Jie and Liu Qing

Entrepreneurial environment

Global Entrepreneurship Monitor (GEM) China report - Quantitative

Changchun region needs badly to strengthen the governmental support, offer superior political environment and market conditions, increase entrepreneurial education and training opportunities, promote the transferring efficiency of R&D achievements.

Governmental influences and policies support

29.

2010Ahmad Raflis Che Omar, Suraiya Ishak and M. Radzuan Rahid

Kolb experiential learning theory and Lewin Field Theory

Interview screening phasesQualitative

Knowledge and management capability of entrepreneurs play important role and need to be developed at every level. Developing entrepreneurial and business management skills requires more than theoretical approach.

Proximity of Entrepreneurial Universities

30.

2010Deniz Ucbasaran, Paul Westhead, Mike Wright and Manuel Flores

the comparative optimism literature by introducing a complementary perspective that focuses on the factors associated with its presence

Ssurvey of 576 entrepreneurs in Great Britain - Quantitative

Entrepreneurs may benefit from developing routines that challenge assumptions about their business as well as their competitors. Entrepreneurs who have experienced success appear to adjust their comparative optimism.

Studies could consider the actual financial and non-financial costs of business failure and links with subsequent optimism and behaviour

Presence of experienced entrepreneurs

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31.

2010Dominic S.K. Lim, Eric A. Morse, Ronald K. Mitchell & Kristie K. Seawright

Institutional theory

32.

2010Hao Zhao, Scott E. Seibert and G.T. Lumpkin

Five Factor model (FFM) of personality

To inquire the relationship between institutional elements of the social environment and entrepreneurial cognitions, which lead to the individuals venture creation decision. These institutions are thought to influence the resources that are key to business success financial, human and social capital The purpose of the current study is to extend understanding of the role of personality in the entrepreneurial which ultimately relate to the firm success.

757 entrepreneurs and nonentrepreneurs from 8 countries - Quantitative

The various institutional elements, such as legal and financial systems, affect venture arrangements and willingness scripts. Venture arrangements scripts have the most significant impact on an individuals venture creation decision.

Meta analysis - a final total of 60 studies with 66 independent samples, with a total sample size of 15,423 individuals - Quantitative

Personality does play a role in the intention to become an entrepreneur and success as an entrepreneur.

33.

2010Igor Prodan & Mateja Drnovsek

Academicentrepreneurial intentions

To proposes a theoretical model of academic-entrepreneurial intentions to gain insight attaining success and controlling cognitions for successfully tackling challenging goals throughout the entrepreneurial tasks.

Data from two universities (the University of Cambridge and the University of Ljubljana) in two different European countries (United Kingdom and Slovenia) - Quantitative

34.

2010Jiangyong Lu and Zhigang Tao

Institutional Environment

To propose a theoretical framework for the entrepreneurship decision in China with a focus on the role of the institutional environment accumulate wider ranges of skills which are essential for successful entrepreneurship.

Survey data of 2854 respondents from twenty cities in China -Quantitative

The result indicate that entrepreneurial self-efficacy, type of research, perceived role models, number of years spent at an academic institution, and patents are significantly related to the formation of academic-entrepreneurial intentions, regardless of cultural context. The results revealed that entrepreneurial self-efficacy had the highest path coefficient among all predictors of academics entrepreneurial intentions in both universities. The Legal position implying that the surveyed respondents were more likely to become entrepreneurs after the granting of legal status for private enterprises in 1988. The results robust to the controls for other personal attributes of entrepreneurs that have been found to be important in the existing literature (such as gender,

Future research may look into the coevolving nature of various types of institutions, for e.g.: interactions between legal and financial systems, and their impact on entrepreneurship Future research needs to explore how elements of entrepreneurs personalities relate to specific behaviors of the entrepreneur or characteristics of the new venture, which in the end relate to the firm success. Future research in academicentrepreneurial intentions should consider the extent to which the findings of this study apply to academics from other research areas (e.g., life sciences, social, and behavioural sciences).

Venture Capital, Financial Resources & Governmental Influences

Entrepreneurial Role Models

Proximity of Entrepreneurial Universities

Entrepreneurial Role Models and Governmental policies to Entrepreneurship/ SMEs

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marital status, age, education, financial conditions, and altitude for taking business risks). 35. 2010Linda Edelman and Helena YliRenko Alvarez and Barney Theory (2007) to examine the objective existence of the business opportunity vs. the entrepreneurs subjective perception of the opportunity and the actual availability of resources vs. the entrepreneurs perception of resource availability as drivers of resulting entrepreneurial succeeded actions The purpose of this paper is to identify the main factors that mostly used to reflect the success o Jordanian small and mediumsized enterprises. 64,622 individuals in the United States using National Panel Study of Entrepreneurial Dynamics (PSED) through telephone interviews - Quantitative Have a clear understanding the complex relationships among the objective environment, entrepreneurial perceptions, entrepreneurial efforts and firm emergence Future studies could develop more finegrained measures to also look at the extent, sequencing and effectiveness of business activities. Venture Capital and Financial Resources

36.

2010Maher AlMahrouq

163 industries (Services, Manufacturing and Retail) Quantitative

The results of this study identified five principle factors that could be major contributors to the success of the small and medium-sized enterprises in Jordan.

There is a need to study this topic more so as to find more other factors that could be added to the success factors from one hand.

37.

38.

2010Marco Caliendo, FrankFossen and Alexander Kritikos 2010Mathew Philip

Approach from psychological research

To analyze whether the risk attitudes of active entrepreneurs have an impact on their survival probability and success rates in self-employment in Germany.

German Socio-Economic Panel (SOEP) - Quantitative

* The purpose of this study was to identify the factors affecting the business success in small and medium sized enterprises in Bangladesh.

A total 300 sets of questionnaires to 300 employees from SMEs Quantitative

The socio-demographic variables observed gender and age effects showing that women and younger persons have significantly lower probabilities of remaining selfemployed. A self-employed father has a positive effect on survival. External environment factor play a very important role as well for firm success. Social network, government support and legality, are the key strategic dimension in external environment in business success.

Skills and knowledge of entrepreneurs , Presence of experienced entrepreneurs and Financial Resources Entrepreneurial Role Models

Entrepreneurial Role Models, Financial Resources and Governmental policies

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39.

2010William R. Meek, Desire F. Pacheco and Jeffrey G. York

Institutional Theory, Sociology and Entrepreneurship

Integrating theory from entrepreneurship, sociology, and institutional theory, this paper argues that both centralized (government designed) and decentralized (socially determined) institutions impact entrepreneurial success activity.

U.S. solar energy sector Quantitative

The initial evidence to support the theory that areas with higher norms of environmentally responsible consumption have higher levels of entrepreneurial foundings in support of environmental practices. The efficacy of state-level policies in the sponsoring of entrepreneurial growth is dependent upon the social norms that prevail in the entrepreneur's environment. The integral role that social norms play in influencing the creation of new firms and by illustrating the potential effect social norms have on the effect of policy that seeks to encourage environmentally responsible economic activity.

Future research should explore the theoretical underpinnings of the study in different environmental entrepreneurship contexts.

Entrepreneurial Role Models and Governmental policies to Entrepreneurship/ SMEs

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