International Journal of Entrepreneurship (Print ISSN: 1099-9264; Online ISSN: 1939-4675)

Research Article: 2022 Vol: 26 Issue: 2S

Analysis of the Characteristics of Cultural Business Entrepreneurship

Satit Chuayounan, University of Phayao

Nawaporn Ketsuwan, University of Phayao

Nattawut Somyarone, University of Phayao

Kamolpong Ratanasanguanvongs, University of Phayao

Preeyachanok Ketsuwan, University of Phayao

Wuthichai Chairinkam, University of Phayao

Jaruwan Poshyananda, University of Phayao

Niramol Promnil, University of Phayao


 The objectives of this research were to study the characteristics of cultural business entrepreneurship possessed by cultural business entrepreneurs. In this research, the comprehensive entrepreneurship of cultural products that are essential for basic livelihoods in four areas, namely food and beverages, small hotels and homestays, clothing and costumes, and herbal medicine, are covered. This analysis of the characteristics of cultural business entrepreneurship involved a mixed methods approach with the research divided into two sections, namely documentary research and in-depth interviews.

The results of the documentary study with a synthetic method indicate that the characteristics of cultural business entrepreneurship consist of five areas, which are personality, leadership, business competence, business reasoning and cultural awareness, with all five characteristics derived from the synthesis of the documents. The researchers conducted the qualitative data collection to study the meanings and indicators of all five characteristics and found that

1.     The personality of cultural business entrepreneurs has two indicators, which are the need for achievement and having a positive attitude

2.     The leadership of cultural business entrepreneurs that affects their success has two indicators, which are ability in networking and ability in communication

3.     The business competence of cultural business entrepreneurs includes two indicators, which are creative thinking and business management competence

4.     The business reasoning of cultural business entrepreneurs has two indicators, which are mental inclination and mental accounting.

This research also identified the characteristics that are different from the characteristics of entrepreneurs in general, as cultural business entrepreneurs must also have the cultural awareness characteristics of cultural business entrepreneurship because this allows them to be able to recognize opportunities in the use of cultural capital for creating value and business value.


Cultural Business Entrepreneurs, Personality, Leadership, Business Competence, Business Reasoning, Cultural Awareness


The cultural economy, which is the use of the wisdom, social and cultural capital to increase economic and social value, is one part of development. In the creative economy for sustainable development of Thailand, when categorizing business groups of the creative industries of Thailand, it was found that 96.8 percent are small business groups. These small business groups play an important role in generating a large amount of income for Thailand. From the synthesis of knowledge concerned with the creative economy and development issues in Thailand in the work of Pholphirul (2013), there was an interesting suggestion stating that some Thai small business entrepreneurs still lack the characteristics of quality and skills that are essential in cultural management for creating economic value.

This main issue as mentioned caused the researchers to have an interest in studying the characteristics of cultural business entrepreneurs. However, when the researchers conducted the documentary study on related research, it was found that no studies on the characteristics of cultural business entrepreneurs have been conducted. Most studies of the characteristics of entrepreneurship in Thailand merely provide definitions of terms and the scope of meaning is broad, such as the study of Khamnunwat, et al., (2016, pp. 23-28) in which the research results offer only an explanation of the important characteristic of cultural entrepreneurs being the ability of people in generating a balance between the value of products or services along with preserving the original value of the culture. The study of Theeraphong, et al., (2021, pp.143-162) conducted a search for the outstanding capacities of cultural entrepreneurs in the 21st century by using the method of extracting lessons from the experience of cultural entrepreneurs who are successful and found that the capacities of cultural entrepreneurs are divided into two aspects, which are mental capacity consisting of perception in feeling, knowledge, and ideas, plus the physical capacities that are shown outside of behavior. From the data mentioned above, if there are studies on the components of cultural business entrepreneurship that are concrete, it will allow researchers to use the results of this research to create and develop measures of the characteristics of cultural business entrepreneurs and develop a course for generating cultural business entrepreneurship, resulting in further efficiency and effectiveness.

Therefore, the objective of this research is to examine the characteristics of cultural business entrepreneurship by including cultural business entrepreneurs that have comprehensive entrepreneurship in four aspects of cultural products that are essential for basic livelihoods, namely food and beverages, small hotels or homestays, clothing and costumes, and herbal medicine, in this study.

Concepts and Theories

Cultural Business

Cultural Business includes the application of culture to determine the capability in competition in order to focus on business operations that are concerned with the production of culturally related products. By applying the cultural capital or sources of cultural capital that exist in the localities of each country, products and services are developed, including cultural learning resources and arts, such as archaeological sites, communities, culture, important local customs and traditions, etc. Therefore, the use of culture is the root of generating wealth through business processes. There are several dimensions to can be used to categorize of the operations of cultural business into three categories (Kamolvech, 2008:14), namely 1) the cultural business model in the dimension of cultural content, 2) the cultural business model in the dimension of communities and local wisdom, and 3) the cultural business model in the dimension of cities of culture. This research analyzed cultural businesses within the context of human inventions and creations related with food, clothing, housing, medicine, as well as souvenirs and handicrafts and tourist attractions for commerce in sales, trade and economic benefits with cultural businesses being one part of the creative economy.


Entrepreneurs are people that have importance in the development of the economy by employment of tools that allow the economy to grow. From the documentary research related with entrepreneurship, it is possible to separate the meanings into many concepts based on various sciences. Hisrich, et al., (2005) explained that entrepreneurship based on the economic concepts means people that bring together various resources, namely capital, labor and assets, in order to create higher value, and this includes people that create changes and inventions with innovations. In terms of pyschological concepts, it means the people who have the power and drive and the need to work in order to experience success while avoiding pressure or the use of authority for control. In the concepts of capitalist philosophy, it means the people who create economic wealth that allows for the creation of the well-being of other people and those who seek the best ways to use resources, resulting in the highest benefits and reduction of loss by generating satisfaction. Regarding the concepts of business, it means those people who search for and recognize economic opportunities, then collect the data in order to establish businesses to achieve goals and be ready to respond to consumer groups. In this research, the concept of entrepreneurship that combines all of the concepts of economics, psychology, capitalism and business is used. This is because analysis from the perspective of a variety of sciences reveals a view of entrepreneurship that covers all aspects. From the research of Inbueng, et al., (2021), who conducted a study on strength management factors and guidelines to develop the strength of a community in Khon Kaen province, the results indicated that the leaders that can apply the principles of rationality have results that can be used in management and that the potential aspects of entrepreneurship inevitably create development of the strength of community enterprises. Therefore, entrepreneurs and their work teams are considered as having great importance in the operations of community enterprises.

Research Methodology

Analysis of the characteristics of cultural business entrepreneurship applied the mixed methods approach with the methods of conducting the research divided into two parts, namely documentary research and in-depth interviews, with the details of each part as follows.

1. Documentary research The researchers synthesized documents and related research with a search for terms related with cultural business entrepreneurship by identifying groups of keywords, which are entrepreneurship, social entrepreneur, entrepreneurial culture, community entrepreneur, and innovative entrepreneurship by identifying the sources in which to search for data, articles, and research from the electronic databases, which are (1) the database in Thailand which is TCI: the Thai-Journal Citation Index Centre, (2) the international research databases, namely Scopus, Web of Science, ERIC, and PsycINFO, and (3) the electronic database of Grey Literature, which consists of the undergraduate articles, theses, and dissertations of Thai Lis, ProQuest, and the reports of various research institutes through the Google scholar website.

2. Data from the search of the databases included a total of 54 items, and the researchers used the synthetic method of content analysis, which is a research technique that was used in explaining the objectives and the content of the characteristics of cultural business entrepreneurship systematically. The research team started from the use of theories and concepts as a basis in proving the synthesis of the characteristics of cultural business entrepreneurship. Following this, the research team conducted the synthesis and analysis by using the Matrix Data Analysis Chart followed by interpretation (Synthesis) in accordance with the characteristics of entrepreneurship that either contradicts or corresponds to (Antithesis) the theories and concepts or entrepreneurship. Following this, the researchers applied the data from the analysis matrix to analyze the content in order to draw conclusions from the components of cultural business entrepreneurship. Next, the interpretation was conducted according to the facts that are expected to provide implications based on the concepts and theories of entrepreneurship.

3. In-depth interviews Following the documentary research, the researchers identified the components of cultural business entrepreneurship from the documentary study, and then used the in-depth interviews to identify the meanings and details of each of the components in accordance with the context of the areas of cultural business entrepreneurs in order to provide definitions of the terms that match the field of cultural business entrepreneurship. Regarding the key informants, the researchers started the search for entrepreneurs from the databases of government agencies that work in community development, including four groups, which are entrepreneurs in food, entrepreneurs in herbs and medicine, entrepreneurs in small hotels or homestays, and entrepreneurs in clothing and textiles. Following this, the researchers began the selection of specific informants with the snowball sampling technique from the cultural products entrepreneurs in clothing and textiles that have 20 years of experience and have received awards for community products portfolios at both the regional and national levels. After the interviews, each of the entrepreneurs continuously provided a referral to other informants that have similar characteristics.

The researchers completed the conducting of the interviews on the main issue as required until the data reached data saturation with duplicates of the data set. The interviews allowed the researchers to have a total of 12 key informants and the presentation of the data in the completed research reports. The research team assigned aliases and concealed the details of the informants according to the guidelines for ethical research in human subjects with the principle of Respect for Persons. Thus, the researchers did not reveal the identity of the informants based on the agreement with the informants at the beginning.

Research tools the tools that were used in this research included guideline questions that the researchers created from the synthesis of documents and research related with cultural business entrepreneurship based on the results of the study of research documents.

Method of data collection For the data collection, the research team approached informants in order to request the interviews and schedule the interviews in advance. If acceptance for the interviews was received, the research team requested assistance with the collection of the data, so that the research team had assistants to collect the data. The data collection used note-taking together with audio recordings in which before all of the interviews, the research team would request permission for audio recordings from the key informants. If the key informants did not agree to audio recordings, the research team used note-taking only. For each of the interviews, the research team started with introducing themselves and explaining the research objectives and then indicated the ways that the data from the interviews would be applied for use in the creation of the measures of entrepreneurship. In each interview, the research team did not pressure or rush the key informants to answer any of the questions by creating an atmosphere that was friendly and respectful. If any disruption or urgent task of any of the entrepreneurs occurred during the interviews that had an effect on the interview or resulted in an obstacle to the providing of data, the research team terminated the interview and rescheduled that informant at a later date.

Checking the reliability of the data The research team used the principle of checking by data triangulation, and in the interviews with each of the key informants, the researchers would stop the interviews by using the principle of data saturation, which is when in any interview, if there are no doubts found or no new issues emerge during the interview, the researchers will stop the interview immediately. In addition, at the same time during the interviews, the research team conducted data reflection by returning to the informants (member check) with a summary of the content and subject matter based on the main points of the questions during the interviews to verify that the data is accurate and can be understood in order to ensure the reliabilty of the research data.

Data Analysis The research team conducted data analysis after each interview in order to apply the results of the analysis to examine the accuracy of the data to determine whether it is sufficient or not by the use of content analysis with the researchers writing compositions with descriptions. If the data that was analyzed was not sufficient based on the needs of the researchers, the interviews with the key informants were scheduled again.

Results and Discussion

Synthesis of the characteristics of cultural business entrepreneurship from the Matrix Data Analysis chart indicated that the characteristics of cultural business entrepreneurship have five aspects, which are personality, leadership, business competence, economic reasoning and cultural awareness. For all five aspects from the synthesis of the documents and related research, the researchers collected qualitative data in order to study the meaning of all five aspects in order to provide definitions within the scope of cultural business entrepreneurs with each aspect having the details as follows.

1) Personality – The personality of cultural business entrepreneurs has two indicators, which are the need for achievement and having a positive attitude.

2) The need for achievement is the drive for entrepreneurs to perform behaviors that result in business success. This is in line with the research of Barba-Sánchez & Atienza-Sahuquillo (2018), who found that the need for achievement has also been linked to how a venture performs and on a survey to determine the traits, the factor of need for independence was found to be very important.

Cultural business entrepreneurs that have the need for achievement are people that have set goals and made plans in work and have ambition, patience, and a high level of responsibility and accept that the results of their work may bring either positive or negative results. If cultural business entrepreneurs have the personality characteristic of the need for achievement, it will inevitably have an effect on their business operations. According to McClelland (1961), the need for achievement was found to be affiliated with entrepreneurial behavior. Therefore, many studies emphasize the significance of the need for achievement as a trait of entrepreneurs and that the need for achievement significantly predicts entrepreneurial behavior (Barba-Sánchez & Atienza-Sahuquillo, 2012; Saif & Ghania, 2020). In addition, several research studies also found that the impact of the need for achievement on entrepreneurial intentions increases when the self-efficacy of the individual increases (Naushad & Malik, 2018), and the need for achievement has a positive and significant relationship with self-efficacy (Shamim et al., 2020). Moreover, the need for achievement of entrepreneurs is related to self-control (locus of control), not believing in luck or destiny and having the confidence that the results of all actions occur because of the actions of the entrepreneurs themselves. Cultural business entrepreneurs with high self-esteem will have a strong effect on their commitment and determination in doing business as well. Self-control (locus of control) is a psychological construct that is used to identify a person's perception of affective self-control in terms of the external environment and the level of personal responsibility for the outcome (April, Dharani & Peters, 2012). The results of many various research studies have confirmed that locus of control has a positive influence on entrepreneurial intention (Arkorful & Hilton, 2021; Rohman & Miswanto, 2020).

The positive attitudes of entrepreneurs are belief and faith when conducting business. The positive attitude of cultural business entrepreneurs becomes the self-empowerment that is able to transform negative events that cause pressure into a boost of positive energy that can overcome obstacles skillfully. In addition, the positive attitude of cultural business entrepreneurs also includes having an open mind to listen to negative comments or feedback and then, being able to apply the data received to improve and develop the products and services of their business. There are a number of various research studies that support the notion that attitude has an effect on entrepreneurial determination and successful entrepreneurship by having an influence as a direct variable and a passive variable (mediating variables), such as the research of Poolsawat (2021), in which the research confirmed that attitude towards entrepreneurship is a key mediating variable between psychological factors and entrepreneurial intentions. The research results of Ahmet, et al., (2021) also indicate that improving university students’ attitudes towards multiculturalism will have a beneficial effect on their entrepreneurial intentions.

2) Leadership – The leadership of cultural business entrepreneurs has two indicators, which are

1. Ability in Networking

2. Ability in Communication.

1. Ability in networking involves generating cooperation between related businesses in order to facilitate fostering relationships and conducting business together. Cultural business entrepreneurships are mostly small businesses. Therefore, networking is one method of entrepreneurs that is commonly used because networking generates power for businesses in production, sales, and exchange, and networking will also help with making the business of cultural business entrepreneurs become successful based on the goals more quickly. According to Seppanen & Skates (2001), entrepreneurial networks can help build entrepreneurial competency when the network is increasingly expanding along with business growth. Moreover, in the study of Xiumei, Yue, Bin & Shujuan (2021), who adopted meta-analysis to explore the impact of entrepreneurial networking on new venture performance and its boundary conditions based on 67 studies covering 24 different countries and regions from 2002 to 2019, the conclusion found that entrepreneurial networking can improve new venture performance.

2. Ability in communication of cultural business entrepreneurs is involved with persuasion, attraction, and generating good relationships with stakeholders in the business. Entrepreneurs who conduct cultural business must have communication skills for the exchange of news and data with the methods of writing, speaking and listening. Thus, every individual entrepreneur should strive as much as possible to develop their speaking skills to a very significant level that could be of help to their business. Besides the other aspects, the successful business is closely related to the way that the communication component is activated. The possession and development of communication skills is thus an essential component alongside the basic skills that an entrepreneur must have, which are motivation and leadership. According to the research findings of Iacob & Hristache (2017), the proper use of entrepreneurial communication leads to the stimulation of the creative innovative spirit at the level of the internal communication and later of the external communication of the organization. Entrepreneurial communication is a veritable “integrative component” of modern business and a new way of addressability of the business towards the public. Moreover, this is in line with the research of Afolabi, et al., (2021), which found that understanding communication skills is essential since it is the basic process through which entrepreneurs accomplish their set objectives culminating in their success for sustainable development.

3) Business competence – The business competence of cultural business entrepreneurs has two indicators, which are creative thinking and business management competence.

(1) Creative thinking is greatly important in conducting business due to it being the starting point in generating innovations in business to provide products and services that are different and unique. The creativity and ability in innovations of entrepreneurs require education and creation from learning by themselves or attending training. Regarding the relationship between creativity and innovation, some researchers agree that creativity is used to enhance innovation (Sijabat et al., 2021, Lestari et al., 2020). In addition, if cultural business entrepreneurs have creative thinking, it will allow them to be able to conduct business even if the occurrence of a crisis has an impact on business creativity, resulting in their business being able to survive the crisis. This can be seen clearly from the study of Thukra (2021), who conducted research on the challenges and responses of small and medium enterprises with creativity, innovation, and entrepreneurship during COVID-19 and found that a number of SMEs are responding to the crisis by applying creativity to problems to obtain opportunities and are navigating through the crisis by utilizing their creativity and innovation. Their capability to respond to these changes depends on the entrepreneur's resilience to continue with creative and innovative ideas.

a. Business management competence is the ability of entrepreneurs in the management of the production of products and services to provide efficiency and effectiveness by the method of managing the factors of production to realize savings of costs and time. Furthermore, it includes ability in the management of legal matters, marketing and technology for efficiency and effectiveness in conducting business. There is research that provides support for the business management competence of cultural business entrepreneurs done by Hindasah & Nuryakin (2020), who found that the ability of an entrepreneur in managing a business organization is also essential in achieving business success. Organizational ability and organizational learning affect financial performance, and the research of Tuty, et al., (2021) found that there is a significant positive influence of the entrepreneurial skills on the performance of entrepreneurs, meaning that the better the skills of entrepreneurs, the better the performance of SMEs.

b. 4) Business reasoning – The business reasoning of cultural business entrepreneurs includes two indicators, which are mental inclination and mental accounting.

(1) Mental inclination is the inclination in business operations for the goals that have a worthwhile financial return from business investments by comparing investments in the present with returns that will occur in the future as well as to be able to analyze opportunity costs from conducting business. Based on the document synthesis concept of Siraprapha, et al., (2020), which is if cultural business entrepreneurs have mental inclination, then inevitably they will understand the importance of the assessment of investment with various tools, techniques and methods that are in line with and appropriate for the business of entrepreneurs in the analysis of the payback period, net present value, internal rate of return, and return-to-costs ratio. These will provide the results of the analysis that can lead to investment decisions that are appropriate and beneficial for those people involved both directly and indirectly.

(2) Mental accounting is the generating of the rules for self-control and categorical thinking of income based on the characteristics of receiving the income in terms of the quantity and consistency that will have an effect on the use of those categories of income for use in investment in the future by dividing income into clear proportions. This mental accounting that they possess, according to the concepts of Thaler (1999), is related with cultural business entrepreneurship and includes mental accounting in budgeting, which is financial management for use in business administration regarding expenditures, wealth, and income. Mental accounting is very closely related to self-control. The research of Melinda & Usman (2021); Álvaro, et al., (2021) found that self-control is one of the most important characteristics of entrepreneurs.

5) Cultural awareness – Cultural awareness is the awareness of cultural business entrepreneurs that must include knowledge, understanding and recognition of cultural value in order to be able to apply the value of culture to create economic value that will result in the economic activities of communities with the development of products and services from the capital of traditional wisdom that exists in communities in order to provide income. This awareness is a result from the cognitive process, in which, when entrepreneurs receive inspiration from stimuli, it will create the perception and when perceived, there will be the creation of abstract ideas and the generating of value and the value of cultural assets. There are many research studies that support that if entrepreneurs have cultural awareness, and then inevitably they will recognize value and can create value for those assets (Tesprasit et al., 2020; Priya & Bose, 2021; Schröder, 2021).

Conclusion and Recommendations

The cultural economy is one part of development of the creative economy for sustainable development that entrepreneurs consider as important in driving the economy as mentioned. The characteristics of cultural business entrepreneurs who support the cultural economy include five aspects, namely personality with two indicators, which are the need for achievement and having a positive attitude; leadership with two indicators, which are ability in networking and ability in communication; business competence with two indicators, which are creative thinking and business management competence; business reasoning with two indicators, which are mental inclination and mental accounting; and cultural awareness. This study was conducted as qualitative research with a synthetic method employing a documentary study and in-depth interviews with entrepreneurs who are involved in cultural entrepreneurship. However, the characteristics of all five aspects are only a systematic content analysis. Thus, for accuracy and precision regarding the characteristics of all five aspects, a quantitative analytical study should be done in order to confirm the characteristics of all five aspects with the method of Confirmatory Factor Analysis (CFA).


Afolabi, O.A., Segun, S.S., & Adebayo, F.A. (2021). Business communication skills acquisition required by entrepreneurs for sustainable development in Oyo state, Nigeria. The Journal of Management and Theory Practice.

Crossref, Google scholar

Akhtar, S., Hongyuan, T., Iqbal, S., & Ankomah, F.Y.N. (2020). Impact of need for achievement on entrepreneurial intentions; mediating role of self-efficacy. Journal of Asian Business Strategy, 10(1), 114-121.

Crossref, Google scholar

April, K. A., Dharani, B., & Peters, K. (2012). Impact of locus of control expectancy on level of well-being. Review of European Studies.

Crossref, Google scholar

Arkorful, H., & Hilton, S.K. (2021). Locus of control and entrepreneurial intention: A study in a developing economy. Journal of Economic and Administrative Sciences.

Crossref, Google scholar

Barba-Sánchez, V., & Atienza-Sahuquillo, C. (2012). Entrepreneurial behavior: Impact of motivation factors on decision to create a new venture. European Research on Business Management and Economics, 18(2), 132-138.

Crossref,Google scholar

Barba-Sánchez, V., & Atienza-Sahuquillo, C. (2018). Entrepreneurial intention among engineering students: The role of entrepreneurship education. European Research on Management and Business Economics, 24(1), 53–61.


Boonrugsa, T., Doungphummes, N., & Techawongstien, K. (2021). Cultural entrepreneur’s competences in the 21st century. Journal of Business, Economics and Communications, 16(1). (January - April) 143-162.

Hisrich, R.D., Peters, M.P., & Shepherd, D.A. (2005). Entrepreneurship (6th edition). New York: McGraw-Hill/Irwin.

Hindasah, L., & Nuryakin, N. (2020). The relationship between organizational capability, organizational learning and financial performance. Journal of Asian Finance, Economics and Business, 7(8), 625-633.

Iacob, S.E., & Hristache, D.A. (2017). Entrepreneurship communication and its role in business management. Annals of “Dunarea de Jos” University of Galati Fascicle I. Economics and Applied Informatics Years XXIII, 3. 226-229.

Google scholar

Inbueng, L., Kunpalin, P., & Toopoj, P. (2021). Management to strengthen management factors and guidelines to develop the strength of community in Khon Kaen province. Journal of Social Science and Buddhistic Anthropology, 6(3), 234-251.

Kamolvech, C. (2008). The pattern of cultural business. Academic paper. Thailand Department of Export Promotion.

Khamnunwat, D., Bhibulbhanuvat, S., Thawornpat, M., Boonrugsa, T., & Suraratdecha, S. (2016). Balanced culture: increase worth with creative values. Nakhon Pathom: Research Institute for Languages and Cultures of Asia, Mahidol University, Nakhon Pathom.

Lestari, S.D, Leon, F.M., Widyastuti, S., & Brabo, N.A. (2020). Antecedent and consequences of innovation and business strategy on performance and competitive advantage of SMEs. Journal of Asian Finance, Economics, and Business, 7(6), 365-378.

Crossref, Google scholar,

Maslakci, A., Sesen, H., & Sürücü, L. (2021), "Multiculturalism, positive psychological capital and students' entrepreneurial intentions". Education + Training, 63(4), 597-612.

Crossref, Google scholar,

Melinda, R., & Usman, O. (2021). The influence of entrepreneurial education, need for achievement and self-effication towards intention of entrepreneurs (January 16).

Crossref, Google scholar,

Naushad, M., & Malik, A.S. (2018). The mediating effect of entrepreneurial self-efficacy in entrepreneurial intention a study in Saudi Arabian context. Problems and Perspectives in Management, 16(1), 267-275.

Crossref, Google scholar,

Pholphiru, P. (2013). Creative Economy and Development Issues in Thailand. NIDA Economic Review. 7(1) (January 2013) 1-69.


Poolsawat, P. (2021). Effects of risk-taking propensity and psychological capital on entrepreneurial intention: the mediating role of attitude towards entrepreneurship in southern Thailand. ABAC Journal 41(2), 82-100.

Google scholar

Postigo, A., Cuesta, M., & García-Cueto, E. (2021). Entrepreneurial personality, responsibility, self-control and screaming: the psychological side of self-employment. Annals of Psychology, 37(2), 361–370.


Priya, G.L., & Bose, S.S. (2021). A study on woman entrepreneur’s awareness about government schemes- special reference to Chennai District, Tamil Nadu. International Journal of Management (IJM), 12(9), September 2021, 55-83.

Google scholar

Rohman, I.Z., & Miswanto, M. (2020). The influence of personality factors on entrepreneurial intention. Journal of Business Management.

Crossref, Google scholar,

Sariwulan, T., Suparno, S., Disman, D., Ahman, E., & Suwatno, S. (2021). Entrepreneurial performance: The role of literacy and skills. Journal of Asian Finance, Economics and Business, 7(11), 269–280.

Crossref, Google scholar

Saif, H.A.A., & Ghania, U. (2020). Need for achievement as a predictor of entrepreneurial behavior: The mediating role of entrepreneurial passion for founding and entrepreneurial interest. International Review of Management and Marketing, 10(1), 40-53.

Google scholar, Indexed at

Schröder, L.M., Bobek, V., & Horvat, T. (2021). "Determinants of success of businesses of female entrepreneurs in Taiwan". Sustainability, 13(9), 4842.

Crossref, Google scholar,

Seppanen, V., & Skates, M. (2001). Managing relationships and competence to stay market-oriented: The case of Finnish contract research organization. Paper presented at the American Marketing Association Conference Proceedings.

Google scholar, Indexed at

Sijabat, E.A.S., Nimran, U., Utami, H.N., & Prasatya, A. (2021). The effects of dynamic capabilities, entrepreneurial creativity and ambidextrous innovation on firm’s competitiveness. Journal of Asian Finance, Economics and Business, 8(1), 711–721.

Crossref, Google scholar,

Sriviroj, S., Lusawad, L., & Chamroonkul, T. (2020). Evaluation of investment projects with economic analysis tools. Eau Heritage Journal of Social Science and Humanities, 10(3) September-December 2020, 21-30.

Tesprasit, K., Pakatip Aksharanandana, P., & Kanchanavibhu, A. (2020). Building green entrepreneurship: A Journey of Environmental Awareness to Green Entrepreneurs in Thailand, 27(5), 35-47, October 2020.

Crossref, Google scholar,

Thaler, R.H. (1999). Mental accounting matters. Journal of Behavioral Decision Making, 12, 183-206.

Crossref, Google scholar,

Thukra, E. (2021). COVID-19: Small and medium enterprises challenges and responses with creativity, innovation, and entrepreneurship. Strategic Change, 30, 153–158.

Crossref, Google scholar,

Xiumei, Z., Yue, L., Bin, X., & Shujuan, M. (2021). The impact of entrepreneurial networking on new venture performance: A research based on meta-analysis. Foreign Economics & Management, 43(6), 120-137.

Crossref, Google scholar

Received: 22-Dec-2021, Manuscript No. IJE-21-10052; Editor assigned: 24-Dec-2021, PreQC No. IJE-21-10052(PQ); Reviewed: 04-Jan-2022, QC No. IJE-21-10052; Revised: 17-Jan-2022, Manuscript No. IJE-21-10052(R); Published: 22-Jan-2022

Get the App