Title: Emergency situations in SMEs: are entrepreneurs prepared?

Authors: Els Kleijn; Enno Masurel; Kees Van Montfort

Addresses: VU University Amsterdam, De Boelelaan 1085, 1081 HV Amsterdam, The Netherlands ' VU University Amsterdam, De Boelelaan 1085, 1081 HV Amsterdam, The Netherlands ' Nyenrode Business University, Straatweg 25, 3621 BG Breukelen, The Netherlands

Abstract: Acute emergency situations in the personal life of the entrepreneurs in small and medium-sized enterprises (SMEs) can play an important role in the premature, involuntary cessation of businesses. In this paper, it is empirically investigated how entrepreneurs prepare for these emergency situations (disablement, death, prolonged illness, and divorce). Only a small minority of the entrepreneurs in our sample had prepared well for all four emergency situations. The age of the entrepreneur and firm size both influence this preparation. Furthermore, previous experience of a certain emergency situation leads to better preparation for such an emergency situation in the future.

Keywords: SMEs; small and medium-sized enterprises; entrepreneurship; emergency situations; preparation; emergency planning; emergency preparedness; emergency response; entrepreneurs; disablement; death; prolonged illness; divorce; entrepreneur age; firm size.

DOI: 10.1504/IJEIM.2012.051946

International Journal of Entrepreneurship and Innovation Management, 2012 Vol.16 No.3/4, pp.159 - 172

Accepted: 22 Aug 2012
Published online: 31 Jul 2014 *

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