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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 5: Opportunity horizons and the poor

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

Extract

The nature of entrepreneurial opportunities is examined. Attention is devoted to how opportunities are uncovered and key sources of opportunity. The notion of the entrepreneur’s opportunity horizon is introduced and applied to those in poverty. The role of the immediate environment is emphasized. Factors that constrain the opportunity horizon of a person in poverty are identified, together with possible ways to expand the individual’s horizon. The emergent nature of opportunities is explored, and the corridor principle is applied to the person in poverty.

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