This paper presents a conceptual framework which can be used to analyse the process of entrepreneurial opportunity discovery. An opportunity can be considered as a project whose exploitation would be advantageous to the entrepreneur. The entrepreneur has to use judgment in deciding which...

Firm formation has been advocated by policy-makers and examined by researchers as a vehicle for job creation and economic development. Both industrial structures and the firm formation rates of individual industries vary regionally. For instance, Ashcroft et al (1991) showed that firm formation...

The effective use of resources in an economy requires both that they are available where and when most needed and that they are kept employed as fully and effectively as possible. A lack of certainty over future resource needs within firms brings these two requirements into conflict. It is...