Book Review The Entrepreneurial Process: Economic Growth, The other two data sets are based upon repre- Men, Women, and Minorities. Edited by Paul D. sentative samples of adults 18 years or older who Reynolds and Sammis B. White. Westport, were asked if they were trying to start a new firm. Connecticut: Quorum Book, 1997. ISBN 1- Those who responded “yes” were considered 56720-012-5. nascent entrepreneurs and their success was tracked in follow-up studies. A Wisconsin sample Autonomous new firms play a vital role in modern of 683 adults was interviewed in 1991–92 and capitalist economies. New firms are major sources yielded 80 nascent entrepreneurs, and a U.S. of innovation, and the continuous renewal of the sample of 1,016 adults was interviewed in 1993 population of firms and industries puts competi- and yielded 40 nascent entrepreneurs. Follow-up tive pressure on existing firms. Autonomous new interviews were conducted with these respondents firms are a major source of jobs, with Reynolds 8 to 18 months after the initial interviews. and White estimating that in its first year, the Reynolds and White recognize the preliminary average new firm creates six jobs, including two nature of these small samples, and are careful to for
Small Business Economics – Springer Journals
Published: Oct 6, 2004
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