This original and exciting new text examines the crucial role of innovation and entrepreneurship in achieving growth and ongoing success in the small business sector.



Chapter Objectives

The aims of this chapter are to assist the reader to:

  • be aware of the role of the small business sector in relation to job creation in industrial nations
  • comprehend some of the alternative ways of classifying small firms
  • understand the concepts and alternative definitions of entrepreneurs
  • be aware of the growth opportunities confronting entrepreneurial firms
  • comprehend the motivation and personality traits of entrepreneurs.

Small Business

Sector Importance

At the end of the Second World War, as American industry moved to exploit mass production as the basis on which to stimulate a consumer-led economic recovery and Western Europe used the Marshall Plan to rebuild industrial infrastructure, the large firm sector was the dominant source of wealth generation and employment in developed nation economies. As a consequence Governments' economic policies tended to ...

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