Financial and Social Impediments in Entrepreneurship

Table of Contents

1. Frontmatter

2. Chapter 1. Introduction Entrepreneurship and Innovation

   Yasin Akkuş

   Abstract

   Entrepreneurship is a very important concept in today’s society. Entrepreneurship has a great impact on the development of a country. In this context, it is important to understand the role of entrepreneurship in the global and national scales. The purpose of this research is to explain the effects of personality traits of entrepreneurs on innovation through factors of social and financial risk taking. The relationship between personality traits and entrepreneurship can be revealed in both its financial and social aspects. The research is based on a case study, which was carried out in Turkey. The results show that the most common obstacles that entrepreneurs face when they take action to realize an innovation are the lack of capital and financial impediments. There are also mechanisms in place that support and provide a better climate for entrepreneurship for entrepreneurs who want to achieve an innovation. Technology development zones in terms of supporting innovative entrepreneurship are discussed.

3. Chapter 2. Personality and Risk-Taking Behavior

   Yasin Akkuş

   Abstract

   There are many factors that affect an individual in the process of being an entrepreneur and taking risks. The first of these is the personality of the entrepreneur. It is striking that personality is explained under many different approaches. These approaches suggest that personality is formed under different factors. The individual who intends to be an entrepreneur takes action with both his personality and the factors that make up his personality. Personality and other dimensions related to the entrepreneur’s personality can greatly affect the individual’s risk-taking and undertaking a new venture.

4. Chapter 3. Examination of the Effects of the Personality Traits and Risk Taking Factors of Entrepreneurs in TDZs on Innovation

   Yasin Akkuş

   Abstract

   A lot of studies have been done, and continue to be done, on the processes and challenges that entrepreneurs confront while founding new businesses and innovation. However, it is seen that the researches mostly focus on the financial difficulties that entrepreneurs encounter, while social issues are either ignored or overlooked. Although it has not been adequately addressed or studied in the literature, social difficulties and social risk taking behavior are regarded to be as essential as financial difficulties and financial risk taking behavior. This research project examines the financial and social risk taking behaviors of entrepreneurs in the innovation process, along with their personality traits. The research used qualitative methods. Within the scope of the research, 20 interviews were conducted. The interviews were deciphered and coded. As a result, it has been discovered that openness to experience, openness to innovation, and extroversion are prominent in the personalities of entrepreneurs, and these characteristics affect both social risk taking and innovation. Based on qualitative findings, it is stated that social risk taking plays a significant role in entrepreneurial processes and affects innovation.

5. Chapter 4. Conclusion and Discussion

   Yasin Akkuş

   Abstract

   One of the purposes that the research was trying to achieve is the exposition of financial and social effects that technological entrepreneurs face during their innovation processes. Because of this, the elimination or at the very least reduction of the obstacles technological entrepreneurs face will be possible. Furthermore, it will become possible for the regulating and auditing actors who affect the climate of entrepreneurship to develop support mechanisms by keeping in mind obstacles with the definition of the aforementioned obstacles. Another purpose that the research was trying to achieve is the exposition of the effects of personality traits on factors of risk and innovation. By exposing the interaction between the personality of the entrepreneur and innovation, it will be possible to reduce the effects of obstacles related to personality during the process of innovating. The results of the research will be able to facilitate taking solid steps towards the development of support and/or investment processes that take into consideration the personality traits of entrepreneurs in the climate of entrepreneurship.

6. Backmatter