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A preliminary study of entrepreneurial development in Singapore and Australia

Huang, F. and Rice, J. (2012) A preliminary study of entrepreneurial development in Singapore and Australia. In: 26th Annual Australian and New Zealand Academy of Management Conference, 5 - 7 December 2012, Perth, Western Australia



Our study attempts to examine differences in the entrepreneurial development between Singapore and Australia. We focus on both external social-cultural environment for entrepreneurs and internal entrepreneurial characteristics of individuals in these two countries. The results of our study show that from the external perspective, there is a relatively less favorable social-cultural climate to encourage people to have their own businesses in Singapore, which is reflected by the lower social status of entrepreneurs, and the less desirability of creating ventures as a career choice in Singapore than in Australia. However, there is more media publicity for successful entrepreneur stories in Singapore. From the internal perspective, Singaporeans generally have lower self-evaluated skills related to starting new businesses than Australians, as well as a lower sense of entrepreneurial opportunities and lower tolerance for failure.

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