Title: Balkans entrepreneurship: the role of internal and external knowledge for business creation

Authors: Vanessa Ratten; João J. Ferreira; Cristina I. Fernandes

Addresses: La Trobe University, Plenty Road Bundoora 3086, Melbourne, Australia ' University of Beira Interior, NECE – Research Unit in Business Sciences, Estrada do Sineiro, Polo IV 6200-201 Covilha, Portugal ' NECE – Research Centre, Instituto Politécnico de Castelo Branco, Largo do Município 6060-163 Idanha-a-Nova, Portugal

Abstract: The Balkans is a geographic region comprising a number of transition economies, which are becoming increasingly important in the international business environment. This paper uses data from the Global Entrepreneurship Monitor (2009 to 2013) to test a series of models aimed at understanding the reasons individuals start new businesses. The literature about entrepreneurship in transition economies and the role of knowledge dissemination is stated, highlighting the role of internal and external knowledge sources. The analysis indicates that in the Balkans intrinsic knowledge in the form of individual capabilities for launching an enterprise and the required skills to start a business. In addition, our analysis shows that internal and external knowledge continue to confer advantages in starting formal businesses in the Balkans region. The findings suggest that the Balkans area is growing in entrepreneurial capability and this is important for future policy directions at the European regional level and country perspective. Suggestions for future research about Balkans entrepreneurship are stated together with implications for managers and public policy planners.

Keywords: Balkans; Global Entrepreneurship Monitor; transition economies; international entrepreneurship; internal knowledge; business creation; external knowledge; intrinsic knowledge; entrepreneurial capability.

DOI: 10.1504/WREMSD.2017.083020

World Review of Entrepreneurship, Management and Sustainable Development, 2017 Vol.13 No.2/3, pp.126 - 140

Available online: 01 Mar 2017 *

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