Measurable in most countries and easily available

•
Measurable in most countries and easily available
•
However, Not all entrepreneurs run small firms, and not every small
firm is run by an entrepreneur (Holtz-Eakin,2000)
•
The total stock of SMEs also includes numerous part-time and ‘hobby’
businesses that are not truly entrepreneurial in the sense of being
innovative, growth- or profit-driven.

Measurement- Self-employment
•
Reflects that entrepreneurship is a risk-taking activity.
•
Data on self-employment is reported in the
(US)Current Population Survey - monthly survey by the Bureau of
Labor Statistics;
(Canada) Current Labour Survey- monthly survey by the Statistics
Canada
•
Both unincorporated and incorporated business.
•
Reflects the widest range of entrepreneurs.

Measurement- Self-employment
•
Drawbacks:
•
1. Many professionals such as lawyer and doctors are self-employed;
•
2. Countries classify self-employment differently;
•
3. Does not count nascent entrepreneurs (in the stage of planning a
business).

Measurement – Business Ownership
•
In both US and Canada, Annual data on
•
Non-employer businesses – has no other worker other than the
owner(s)
•
and, Employer businesses – employ at least one paid worker other
than the owner(s)
•
are reported, and entry and exit data of employer businesses were
often reported too.

Measurement - others
•
Billionaires– high-impact entrepreneurs, only focuses on success
•
Habitual entrepreneurs–
1.Serial entrepreneurs, who runs several businesses in sequence.
2. Portfolio entrepreneurs, operate several businesses in parallel,

Reference
•
SCHUMPETER, J.A . 1942. Capitalism, Socialism and Democracy, 3rd
edition, London: George Allen and Unwin, 1976
•
Knight, Frank H. 1921 Risk, Uncertainty, and Profit. Boston: Houghton
Mifflin,
•
Kirzner, I . 1973. Competition and Entrepreneurship, Chicago, IL:
University of Chicago Press
•
Parker, Simon C.. 2018 The Economics of Entrepreneurship,
Cambridge University Press. Kindle Edition.