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The Entrepreneurship Industry: Influences of the Goods and Services Marketed to Entrepreneurs

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  • Richard A. Hunt
  • Kip Kiefer

Abstract

This paper constitutes the first comprehensive attempt to define and assess entrepreneurship as an industry, and it is the only study to date to empirically evaluate the extent to which the entrepreneurship industry (EI) is associated with entrepreneurial actions and outcomes. EI is defined as the goods and services explicitly intended for opportunity discovery and development by current and prospective entrepreneurs, an industry with $13 billion in annual revenue. In order to assess EI's influence, we employ a matched set comparison of EI consumers and nonconsumers, which reveals that high levels of EI consumption are associated with an increase in entrepreneurial activity but a decrease in performance and survival prospects. The findings address material gaps in existing frameworks by adding EI to the entrepreneurial contexts that exert a potent influence on the identification, development, and exploitation of opportunities.

Suggested Citation

  • Richard A. Hunt & Kip Kiefer, 2017. "The Entrepreneurship Industry: Influences of the Goods and Services Marketed to Entrepreneurs," Journal of Small Business Management, Taylor & Francis Journals, vol. 55(S1), pages 231-255, December.
    • Handle: RePEc:taf:ujbmxx:v:55:y:2017:i:s1:p:231-255
    DOI: 10.1111/jsbm.12329
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    Citations

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    Cited by:

    1. Sule Ishola Omotosho & Hod Anyigba, 2025. "Intrapreneurship, Industry Agglomeration and Sectoral Growth in the Manufacturing Industry: Evidence from an Emerging Economy," Journal of Entrepreneurship and Innovation in Emerging Economies, Entrepreneurship Development Institute of India, vol. 34(3), pages 588-626, August.
    2. Angelo Cavallo & Christina Theodoraki & Alessandro Lucini-Paioni, 2026. "Building a space entrepreneurship industry: The role of entrepreneurial support programs for startup growth," Small Business Economics, Springer, vol. 66(2), pages 773-795, February.
    3. Erik Lundmark & Anna Krzeminska & Hana Milanov, 2025. "“The Odd Ones Out†: How Root Metaphors From Management Studies are Used in Mainstream Entrepreneurship Research," Entrepreneurship Theory and Practice, , vol. 49(6), pages 1597-1632, November.
    4. Anna Brattström & Marian Eabrasu & Richard Hunt & Christian Sandström & Karl Wennberg, 2026. "The emergence and impact of the entrepreneurship industry," Small Business Economics, Springer, vol. 66(2), pages 675-683, February.
    5. Oana Pricopoaia & Stefan Adrian Susanu & Nicoleta Cristache & Irina Olimpia Susanu, 2024. "The Impact of Business Incubators on the Performance of the Entrepreneurial Ecosystem," Economics and Applied Informatics, "Dunarea de Jos" University of Galati, Faculty of Economics and Business Administration, issue 3, pages 243-255.
    6. John-Erik Hassel & Tommy Høyvarde Clausen & Einar Rasmussen & Christina Öberg, 2026. "Venture builders: new venture production in the entrepreneurship industry," Small Business Economics, Springer, vol. 66(2), pages 719-736, February.
    7. Mazzoni, Leonardo & Naudé, Wim & Innocenti, Niccolò, 2025. "The myth of entrepreneurship as a tool: Reorienting business venturing as a goal in itself in a post-growth society," Journal of Business Venturing Insights, Elsevier, vol. 23(C).
    8. Christina Kyprianou & Siddharth Vedula, 2026. "Empowering or excluding? A cultural perspective on how the entrepreneurship industry reinforces privilege," Small Business Economics, Springer, vol. 66(2), pages 685-698, February.
    9. Parul Manocha & Kip Kiefer, 2026. "How enabling is the entrepreneurship industry? EI intermediaries and the spectrum of entrepreneurial action and outcomes," Small Business Economics, Springer, vol. 66(2), pages 753-772, February.
    10. Mirza Tihic & Adam Pritchard & Alexander McKelvie, 2026. "The emergence and impact of the military veteran entrepreneurship industry," Small Business Economics, Springer, vol. 66(2), pages 737-751, February.
    11. Anna Brattström & Karl Wennberg, 2022. "The Entrepreneurial Story and its Implications for Research," Entrepreneurship Theory and Practice, , vol. 46(6), pages 1443-1468, November.
    12. Mart Ots & Joaquin Cestino Castilla & Marie Madeleine Meurer, 2026. "Frames of entrepreneurship: 30 years of field evolution in the entrepreneurship industry," Small Business Economics, Springer, vol. 66(2), pages 699-718, February.

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