Locality based entrepreneurship: A strategy for community economic vitality

Embedded entrepreneurship in the creative re- construction of place

“…Embeddedness explains how context and community influence perceived possibilities in particular situations (Welter, 2011;McKeever, Jack and Anderson, 2013). Operating as a social structure, embeddedness may enable or constrain entrepreneurial activity (Johnstone and Lionais, 2006) yet also create local opportunities; ones which are aligned with the needs and capabilities of particular communities (Korsching and Allen, 2004;Peredo and Chrisman, 2006). This notion of embeddedness is grounded in Polyani's (1957) challenge to the assumptions of classical economics that there is a clearly delimited, socially disembedded sphere of economic relations with a tendency toward general equilibrium.…”

“…For entrepreneurs, the community in which they are embedded represents a fertile arena, a rich maze of economic, political and social relations. Moreover, Korsching and Allen (2004) found that, especially within deprived and depleted communities, the wider activities of entrepreneurs offers great potential for improving social and economic vitality. Lyons et al (2012) feel that the time is now right to focus on the relationships between entrepreneurs and the communities where they live and do business.…”

“…Moreover, because localised entrepreneurs understand social structures and the specifics of their local environment they can credibly link and co-ordinate locality oriented actions that serve both public and private interests (Korsching and Allen, 2004). In this sense, entrepreneurs are involved in envisioning, articulating and managing loosely coupled processes (Lyons et al, 2012) that engage their credibility to facilitate brokerage, commitment and the mobilisation of resources (Peredo and Chrisman, 2006).This brokering role, entrepreneurial acting as a conduit between spheres of influence to re-combine resources, is central to Barth's (1963) thesis.…”

Influence of Federal Disaster Assistance on Family Business Survival and Success

“…For example, large firms are more likely to survive, yet small firms tend to be more profitable (Kalleberg & Leicht, 1991). Extensive literature exists on how family businesses need to operate for long-term survival, performance, growth and success (e.g., Bates, 1990;Davidsson, 1991;Hall, 1991;Kalleberg & Leicht, 1991;Korsching & Allen, 2004;Olson, Zuiker, Danes, Stafford, Heck, & Duncan, 2003;Sharfman & Dean, 1991;Siegel, Siegel, & Macmillan, 1993). More recent literature has suggested a systematic model to examine the impact environmental disasters on businesses (Zhang, Lindell, & Prater, 2009).…”

Survival and success of family‐owned small businesses after hurricane Katrina: Impact of disaster assistance and adaptive capacity

“…For instance, large firms are more likely to survive, whereas small firms tend to be more profitable (Kalleberg & Leicht, 1991). An extensive literature exists on how small family businesses need to operate to survive, grow, and succeed (Bates, 1990;Davidsson, 1991;Hall, 1991;Kalleberg & Leicht, 1991;Korsching & Allen, 2004;Olson et al, 2003;Sharfman & Dean, 1991;Siegel, Siegel, & Macmillan, 1993). More recent literature has suggested a systemic model to examine the impact of natural disasters on survival and success of businesses (Zhang, Lindell, & Prater, 2009).…”