Entrepreneurial potential in individuals at different stages of the entrepreneurship process

Abstract

This study aims to describe the pattern of key entrepreneurial competencies at different stages of
entrepreneurial process. Moreover, it aims to analyze the capacity of such characteristics to predict
different stages of entrepreneurial activity. We used the entrepreneurial potential construct and
inventory (Santos, Caetano & Curral, 2014) to measure the most relevant individual characteristics
associated with the preparedness to engage in entrepreneurial activities. Based on Global
Entrepreneurship Monitor (GEM) model, we compared five groups of individuals at different
stages of the process: nascent entrepreneurs, own-managers of young firms, own-managers of
established firms, future entrepreneurs and non-entrepreneurs. The results showed that
entrepreneurial potential dimensions evidenced different patterns on individuals at different stages
of the process. Moreover, results showed that these critical individual characteristics predict stage
of entrepreneurial activity, when compared to control variables. These results contribute to capture
a person-situation perspective in entrepreneurship. This mapping of different competencies levels
associated with different entrepreneurial activity levels has practical implications, since it gives
important clues for targeted training activities for entrepreneurship promotion.