Demographic trends in the developed world indicate that older entrepreneurs will play an increasingly important part of economic activity as populations age, yet this cohort has been largely ignored in entrepreneurship research. This paper provides an overview of current research about the so-called "grey entrepreneur" (also known as senior, older, third age or elderly entrepreneurs), drawing on research from a number of nations. The extant literature indicates that a majority of older entrepreneurs are male, although the number of older female entrepreneurs is increasing; they are also less likely to possess formal educational qualifications than younger entrepreneurs. Some of the advantages that such entrepreneurs possess include greater levels of technical, industrial and management experience; superior personal networks; and a stronger financial asset base. Some of the disadvantages or potential barriers faced by older entrepreneurs can include lower levels of health, energy and productivity; ageism; and the value that his or her society places on active ("productive") ageing. Numerous issues still remain to be investigated in this field of research. These include the differences between younger and older entrepreneurs; their motives and success criteria; the impact of financial, knowledge and other resources on venturing behaviour; the role of government policies in fostering or hampering individual enterprise; and the significance of cultural differences amongst older entrepreneurs. Research in this field is currently also hampered by a multiplicity of terms and definitions, a lack of age-related data about different entrepreneurial cohorts, and the problems inherent in operationalising the concept of the "grey entrepreneur."
Small tourism firms in attractive tourism destinations are often generically described as 'lifestyle' oriented. A discourse on what the prefix 'lifestyle' means, when attached to small tourism firms in different economic and social contexts has been developing for a decade now, reaching a point of complexity and contradiction. In order to explore this ubiquitous, yet nebulous term, the relevant literature and associated discourse is reviewed with the aim of understanding the motives, meanings, values and contexts of these lifestyle oriented small tourism (LOST) firms. It is concluded that there are many deficiencies in both the conceptualization as well as the content of current research in this increasingly important area. A multi-disciplinary and systemic model for understanding the interactions and interdependencies of the different dimensions of LOST firms is presented.
The paper critically refl ects on key knowledge contributions that coalesce to inform contemporary understanding of the phenomenon of small tourism business. The purpose is to scrutinise change and evolution in perspectives and how these impact on what knowledge is disclosed and what is not. Conventionally accepted wisdom is challenged, indoctrinated presuppositions are questioned, and research methodological advancements are offered. This is achieved through a comprehensive review and critical-refl ective analysis of key academic contributions spanning a period of approximately 35 years. The value is to stimulate criticality relative to what constitutes 'truth' within the given context and to inspire fresh research perspectives. Conclusions are drawn regarding future research directions. Furthermore, informed by thorough analysis of the content of the paper, fi ve guiding research principles provide an appropriate conclusion.
Purpose – This paper aims to identify and empirically test whether growth preparedness and success perceptions are important, discriminating small business owner (SBO) characteristics that influence strategic direction. The intended outcome was to create a strategic typology that resonates with the realities of small business owners, their advisors and policy makers. Design/methodology/approach – Empirical data were collected online and by postal survey from 340 small businesses from multiple industry sectors across Australia. Analysis is correlational resulting in the development of a 2 × 2 matrix of strategy types. Findings – This paper provides evidence that although a majority of SBOs are not preparing for growth, many still perceive their business as successful. Further, the empirical data demonstrate that growth preparedness and perceived success can be used to classify SBOs into distinct strategic types. While the categories developed show some similarities with the Miles and Snow (1978) typology, they also highlight divergent qualities. Consequently, this paper identifies circumstances where small business strategy must be treated differently from the larger enterprises for which the Miles and Snow typology was developed. Practical implications – By providing a concise tool for inclusion in surveys, researchers and practitioners can identify varying strategic types within their own targeted business cohorts. Originality/value – The growth/success matrix is original, the value for policy makers and other professionals assisting and supporting SBOs lies in its simplicity as a tool for identifying strategic types in any small business population. Specifically, the matrix provides a valid and reliable empirical analysis tool where none previously existed.
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