In this second of a series of articles I will overview what practical value an entrepreneur might gain from the Top-5 most cited papers published in the leading journals. In my previous article I looked at the Journal of Business Venturing, in this one we look at Entrepreneurship Theory & Practice (ETP).
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Over the past twenty years the academic field of entrepreneurship has exploded. The number of journals publishing research in the area has increased significantly along with the overall volume of academic papers. Around the world there are now thousands of academics engaged in research relating to entrepreneurship and related activities. Against this background of scholarly expansion there lies the question as to what does all this research activity actually deliver that might help a practising entrepreneur?
We know very well that SMEs are where the action is. SMEs hold untapped potential for economic growth in general, and at a time when universities – more than ever – need to demonstrate their contribution to economic development, we have to show we’re working with businesses of all sizes and helping them to get results.
The supply chain of the Australian diary industry starts with some 6,686 registered dairy farms, the majority (68%) of which are located in Victoria. Most of the dairy farms in Australia are family owned and operated small businesses that produce fresh milk on a daily basis. Only about 2% of dairy farms are corporates.
The issue has the potential to further fracture existing fault lines within the government over issues effecting Australia’s rural communities. Free trade and an open door policy on foreign investment has many benefits, but if it leads to a further erosion of farmer bargaining power and squeezing of prices the political consequences will be significant.
Without doubt ‘red tape’ is one of the most politically contentious issues facing governments when seeking to develop effective small business policies. What is clear from any research into the red tape problem is that it is as much about the eye of the beholder as it is about the reality of bureaucratic obstacles.
Fixing the small-business problem should be at the top of the political agenda. Some 22 million workers are either unemployed or underemployed, or have given up looking for work. If it continues to generate new jobs at its current anaemic rate, America will not return to pre-recession employment levels until 2020.
One of the issues likely to create headaches for the federal government in their first term is the thorny issue of coal seam gas (CSG) development in east coast Australia. Australians were now paying the world’s highest prices for gas despite having such a large natural supply.
The field of entrepreneurship has certainly evolved over the past 30 years, but it remains a work in progress and far too much misunderstanding and misguided hype exists around the issue of what it is and what it might offer the world.