The entrepreneurial journey : a sociological exploration among Maltese entrepreneurs

Abstract

Having an innovative idea or using an already existing business concept to gain competitive advantage over other businesses, together with the right amount of entrepreneurial motivation, is the spark needed to ignite the fire of a new enterprise. But is this enough? Once a business venture is set up, the entrepreneur needs to sustain the company’s profitability while allowing for it to flourish further. This study precisely aims to investigate the ways through which one’s social and cultural context impacts the entrepreneurial process. It is focused around two key aspects of the entrepreneurial journey; (a.) the fostering of entrepreneurial motivation and (b.) initiating and ultimately running a profitmaking business enterprise. The effects of one’s social situation on the entrepreneurial journey are examined qualitatively through face to face interviews with seven Maltese entrepreneurs. The qualitative nature of this research generates in-depth, valid data highlighting the relational dynamics at the core of the entrepreneurial process. The impact of the social context on the lived experience of the entrepreneur is explored through investigating a number of social factors which emerge from the literature as being key issues of influence, namely: gender, family background, social capital, education and societal resistance or support. The principal conclusion of this research study is that despite the significance of personal character and competence with regards to developing entrepreneurial motivation and succeeding within the business sector, all participants seem to have been significantly affected by their social situation, even though they were generally unaware of the impact of their social environment.