Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Learning the hard way: the lessons of owner‐managers who have closed their businesses

Learning the hard way: the lessons of owner‐managers who have closed their businesses There is a tendency to associate business "closure" with business "failure", confusing owners that close a business with 'unsuccessful' entrepreneurs. This article reports on a study into the experiences of business owners who have left their business. Three stages of research, including interviews and a postal questionnaire, tracked businesses that closed, what the owners did next and what they learned from the experience. The results suggest that some common assumptions need challenging in order to remove the stigma from closing down a business. The overall conclusion is that the closure process can represent a positive, learning experience. Even owners who have had unsuccessful ventures are motivated and more able to make it work next time because of lessons learned. This provides further support for the concept of the serial entrepreneur. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Small Business and Enterprise Development Emerald Publishing

Learning the hard way: the lessons of owner‐managers who have closed their businesses

Loading next page...
 
/lp/emerald-publishing/learning-the-hard-way-the-lessons-of-owner-managers-who-have-closed-fk8DMO0fNw

References (27)

Publisher
Emerald Publishing
Copyright
Copyright © 2002 MCB UP Ltd. All rights reserved.
ISSN
1462-6004
DOI
10.1108/14626000210419455
Publisher site
See Article on Publisher Site

Abstract

There is a tendency to associate business "closure" with business "failure", confusing owners that close a business with 'unsuccessful' entrepreneurs. This article reports on a study into the experiences of business owners who have left their business. Three stages of research, including interviews and a postal questionnaire, tracked businesses that closed, what the owners did next and what they learned from the experience. The results suggest that some common assumptions need challenging in order to remove the stigma from closing down a business. The overall conclusion is that the closure process can represent a positive, learning experience. Even owners who have had unsuccessful ventures are motivated and more able to make it work next time because of lessons learned. This provides further support for the concept of the serial entrepreneur.

Journal

Journal of Small Business and Enterprise DevelopmentEmerald Publishing

Published: Mar 1, 2002

Keywords: Entrepreneurialism; Closure; Business failures; Learning

There are no references for this article.