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Business Creation in the United States: Panel Study of Entrepreneurial Dynamics II Initial Assessment

  • Paul D. Reynolds 1
  • Richard T. Curtin 2

[1]Paul D. Reynolds, Florida International University, USA, pauldreynolds@earthlink.net [2]Richard T. Curtin, University of Michigan, USA, curtin@umich.edu

Short description

Business Creation in the United States presents the results of The Panel Study of Entrepreneurial Dynamics [PSED] II and is the only nationally representative dataset of new business creation providing a critical source of information on the early stages of the entrepreneurial process. It is designed to provide an overview which can form the basis for exploring more issues relevant to specific theories or conceptual frameworks

Keywords

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Table of contents

1 Understanding Entrepreneurship and the Missing Link
2 Research Program Overview
3 Participation in the Start-up Process
4 Nascent Entrepreneurs
5 Nascent Enterprises
6 Status after the Initial Follow-up
7 Costs of Participation
8 High Impact Nascent Enterprises
9 Overview and Implications
A Procedural Differences: PSED I and PSED II
B PSED I Prevalence Rates with Adjustments for Screening Item Wording
C Aggregate Informal Sweat Equity Investment Estimates: PSED I and PSED II Cohorts
D PSED II Data Sets
E Publications and Papers based on the Panel Study Entrepreneurial Dynamics
Acknowledgments
References

Foundations and Trends® in Entrepreneurship

(Vol 4, Issue 3, 2008, pp 155-307)

DOI: 10.1561/0300000022

Abstract

PSED II began in 2005 with the selection of a cohort of 1,214 nascent entrepreneurs chosen from a representative sample of 31,845 adults. The first 12 month follow-up interviews were completed with 80% of the original cohort. The project is designed to replicate, with appropriate methodological improvements, PSED I. The PSED provides a unique, unprecedented description of the initial stages of the entrepreneurial process. The results suggest that prior experience and an appropriate strategy are critical for completing a new firm birth; personal attributes, motivations, and contexts seem to have minimal effect. The PSED findings have substantial implications for policy makers who wish to improve the capacity of the US entrepreneurial sector to confront global competitive threats with a steady flow of new and innovative firms.

Table of contents

1 Understanding Business Creation and the Missing Link
2 Research Program Overview
3 Participation in the Start-Up Process
4 Nascent Entrepreneurs
5 Nascent Enterprises
6 Outcome status: Preliminary
7 Costs of Participation
8 High-Potential Nascent Enterprises
9 Overview and Implications
References
Appendices
Cover image for Business Creation in the United States

Business Creation in the United States:

Panel Study of Entrepreneurial Dynamics II Initial Assessment

172 pages

DOI: 10.1561/9781601980977

E-ISBN: 978-1-60198-097-7

ISBN: 978-1-60198-096-0

Description

Business creation is a central feature of entrepreneurship, facilitating job creation, economic innovation, and improved sector productivity. Business Creation in the United States presents the results of PSED II and is designed to provide an introductory overview to the research project and describe the major results. The project is designed to replicate, with appropriate methodological improvements, PSED I. The PSED provides a unique, unprecedented description of the initial stages of the entrepreneurial process. The results suggest that prior experience and an appropriate strategy are critical for completing a new firm birth, while personal attributes, motivations, and contexts seem to have minimal effect. Business Creation in the United States has substantial implications for policy makers who wish to improve the capacity of the US entrepreneurial sector to confront global competitive threats with a steady flow of new and innovative firms. Emphasis has been placed on the scope of activity and the most important policy implication. Business Creation in the United States is designed to provide an overview which can form the basis for exploring more specific issues in detail, issues with relevance to specific theories or conceptual frameworks.