11. Exit Perspective on Entrepreneurship

Nielsen and Sarasvathy, building on a general perspective on exit, including important concepts and ideas not specific to the entrepreneurship domain, develop a taxonomy of entrepreneurial exit and discuss when entrepreneurial exit can be characterized as a failure, whether from the viewpoint of the entrepreneurs, policymakers, or investors, outlining potential conflicts between the interests of the entrepreneur and society. Nielsen and Sarasvathy argue that exit needs to be understood dynamically and develop a dynamic framework for studying entrepreneurial exit, highlighting ideas for future research on how entry into entrepreneurship, entrepreneurial experience, and the post-exit environment may interplay in those dynamics. Consequences for the post-exit career and life course are introduced with specific examples of promising avenues for future research on this new and important topic in entrepreneurship.