Serial Entrepreneurship: An Exploratory Analysis of Australian Firms

Abstract

Serial entrepreneurs are business owner-operators who commence, operate and dispose of a number of business ventures. This paper draws on data from 199 micro firms in New South Wales, Australia to explore the background and characteristics of a cohort of serial entrepreneurs, identify some aspects of their current operations, and assess whether the businesses of these serial entrepreneurs are more likely to grow than other entrepreneurial ventures. The results indicate that serial entrepreneurs tend to be male, relatively well educated, aged between 30-49, and Australian-born. Many (just under half) come from a family with a prior background in business ownership. A third of them concurrently operate another business, and a majority has a strong growth orientation. Analysis of data between serial and other entrepreneurs reveal some statistically significant differences between the two cohorts. Compared to other entrepreneurs, serial entrepreneurs are more likely to concurrently operate another business; less likely to operate their current venture as a home-based enterprise; and more likely to want to expand their business in future. Serial entrepreneurs, when compared to other entrepreneurs, also tend to be slightly older, are more likely to be male, and are more inclined to buy a business as a going concern.