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Poverty and Entrepreneurship in Developed Economies

Michael H. Morris, Susana C. Santos and Xaver Neumeyer

While extensively explored as a solution to poverty at the base of the pyramid, this is the first in-depth examination of entrepreneurship and the poor within advanced economies. The authors explore the underlying nature of poverty and draw implications for new venture creation. Entrepreneurship is presented as a source of empowerment that represents an alternative pathway out of poverty.
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Chapter 4: Types of entrepreneurs and types of ventures

Michael H. Morris, Susana C. Santos and Xaver Neumeyer


Attention is devoted to understanding who starts ventures and what they actually create. The first of these two questions considers what we know about the characteristics, traits and motives of successful entrepreneurs. Acknowledging the significant diversity to be found among these individuals, the patterns in terms of general types or categories of entrepreneurs that tend to emerge are considered. With the second question, patterns in the types of ventures created by entrepreneurs are examined, with four distinct types and their associated characteristics identified. In addressing both questions, implications are drawn for a person in poverty, including the unique challenges they confront, and what is required to overcome these challenges.

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