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Tourism and Hospitality Entrepreneurship: Examining the factors that influence the performance of Small and Medium Enterprises
by:Dr Rob Hallak
Small and medium enterprises (SMEs) represent the majority of businesses in the tourism and hospitality sector. The motivations, objectives, characteristics, and capabilities of SME owners steers the direction, strategies and business activities of these enterprises. This book focuses on the men and women who create and operate tourism and hospitality...
Small and medium enterprises (SMEs) represent the majority of businesses in the tourism and hospitality sector. The motivations, objectives, characteristics, and capabilities of SME owners steers the direction, strategies and business activities of these enterprises. This book focuses on the men and women who create and operate tourism and hospitality businesses, as well as examining the key factors that may influence entrepreneurial success. Based on an empirical study of 300 small business owners in South Australia, evidence suggests that the relationship between the entrepreneur and the local community can influence business performance. The extent to which an entrepreneur feels a sense of belonging (or 'place identity') to the community can influence their ability to operate a successful enterprise. This is because 'place identity' can affect both 'entrepreneurial self-efficacy' (individuals' belief in their capabilities to successfully operate an entrepreneurial business) as well as their level of support for the community. These may then have a significant effect on the performance of the business and its owner.
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