Entrepreneurial success revisited: what Hofstede's dimensions and GEDI missed in evaluating the entrepreneurial potential in three pilot countries

This concept paper examines entrepreneurial culture and its national cultural fit according to Hofstede's dimensions and the Global Entrepreneurship and Development Index (GEDI). The authors compared expectations with the actual entrepreneurial outcomes in Pakistan, Egypt, and Zambia; three Global Entrepreneurship Program (or in-country partners) pilot beneficiaries. Although the three countries have lower GEDI rankings, they have shown considerable entrepreneurial potential based on their pertinent milestone reports. Using two of Hofstede's cultural dimensions to assess their openness for entrepreneurial initiatives, the three countries did not offer a cultural ecosystem conducive to entrepreneurship, yet the social, economic, and political contexts seemed to neutralise the cultural discord. Start-ups are seen as a counter-cyclical cushion in low-income countries to survive periods of economic downturn even when the culture does not support new ventures and risk-taking. The paper calls for an entrepreneurial construct that incorporates socio-cultural perspectives, and politico-economic factors into the innovation-led definition.