Socio-Cultural Facets for Sustainable Entrepreneurship Development

Abstract

Entrepreneurship and development of entrepreneurship have been the focus of all economies, but more so of emerging economies. However, there are many barriers including social and cultural aspects in entrepreneurship development. This has resulted in entrepreneurship's mono-dimensional look. Yet, in reality, a person who deals with the creation of the neo-ideas has social and cultural aspects like family characteristics, customs, community, the rate of participation in society that can aid or be a detriment in becoming successful entrepreneurs leading to sustainable entrepreneurship development. Hence, adopting a qualitative exploratory approach using semi-structured in-depth interviews of 30 SME owner-managers of Namibia, the aim of this study is to understand the role of social and cultural facets for sustainable entrepreneurship development. Findings show that social factors in entrepreneurship emerged and grabs the benefits of new concepts to make progress where social justice has raised barriers, and the cultural factors influence entrepreneurs and social behaviors of practice.

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