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Poverty and Entrepreneurship in Developed Economies

Michael H. Morris, James W. Walter Eminent Scholar Chair, University of Florida, Susana C. Santos, Assistant Professor, Rowan University and Xaver Neumeyer, Assistant Professor, University of North Carolina at Wilmington, US
While extensively explored as a solution to poverty at the base of the pyramid, this is the first in-depth examination of entrepreneurship and the poor within advanced economies. The authors explore the underlying nature of poverty and draw implications for new venture creation. Entrepreneurship is presented as a source of empowerment that represents an alternative pathway out of poverty.
Extent: 264 pp
Hardback Price: $125.00 Web: $112.50
Publication Date: 2018
ISBN: 978 1 78811 153 9
Availability: In Stock
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  • Business and Management
  • Entrepreneurship
  • Social Entrepreneurship
  • Development Studies
  • Development Studies
  • Social Entrepreneurship
This is the first in-depth examination of entrepreneurship and the poor within advanced economies. Entrepreneurship is presented as a source of empowerment that represents an alternative pathway out of poverty. The book explores the underlying nature of poverty and draws implications for new venture creation.

This book fosters a richer dialog among academics, government officials, policy-makers, economic development professionals, bankers and the financial community, leaders of non-profit organizations, and others committed to moving beyond status quo solutions – committed to finding ways to help people create their own entrepreneurial pathways out of poverty.
‘These authors take an in-depth look at poverty in developed countries and offer the unique solution of entrepreneurship’s empowering and transformative venture creation impact to the
problem. They introduce a framework as a holistic approach for understanding what is required for the low-income individual to successfully pursue the entrepreneurial path. For anyone concerned about the alleviation of poverty, this is a must read!’
– Donald F. Kuratko, Indiana University, Bloomington, US

‘Poor people are more frequently business owners than any other economic group, but, because of resource constraints, they rarely break out of the informal economy so their entrepreneurship co-exists with poverty rather than replacing it. Could we reduce the resource constraints and simultaneously educate poor people about business management and strategy, more poor people could break into the formal sector, creating jobs and building wealth exactly where jobs and wealth are most needed. The social benefit would be huge.  In their pragmatic, informed, and readable manual, the authors bring together the inter-disciplinary information that a public/private partnership requires to launch a successful effort to reduce poverty by enabling the entrepreneurship of the poor. In a nutshell, the public sector provides the infrastructure; the private sector and NGOs provide the business education. Everyone who has a practical or theoretical interest in poverty, entrepreneurship, or social policy should read this book.’
– Ivan Light, University of California, Los Angeles, US 

‘A refreshing, timely and valuable contribution. Warm congratulations – and kind thanks – to the authors, for producing a masterpiece with brilliant ideas likely to foster a rich dialog among academics, bankers, economic development professionals,  government, policy makers, and others committed to finding ways to help people create their ways out of poverty.’
– Léo-Paul Dana, Montpellier Business School, France

‘Linking poverty and entrepreneurship in developed economies seems at a first glance a little bit unusual. Entrepreneurship is mostly viewed and understood as heroic, risk-taking and successful behaviours by few talented individuals. Researchers, media and governments alike often adopt an ideological rhetoric of innovation-driven, economy-growing and job-creating processes. Entrepreneurship also concerns disadvantaged individuals, low income and necessity entrepreneurs even in developed countries. The greatest merit of this book is to pay attention to those entrepreneurs with the aim to explore new venture creation and entrepreneurial behaviors as ways out of poverty. I strongly recommend the reading of this necessary book giving us the opportunity to enrich our understanding of entrepreneurship as a social and economic phenomenon, by throwing light on one of its hidden side.’
– Alain Fayolle, Emlyon Business School, France

‘In Poverty and Entrepreneurship in Developed Economies the authors tackle important and pressing questions about the interplay between entrepreneurship and poverty. Although the poor are often overlooked in discussions around entrepreneurship, the book fills this gap by examining the poor and their struggle to create thriving businesses. Exploring numerous barriers to successful entrepreneurship this book provides a must read for anyone grappling with issues around poverty alleviation, microenterprise, and economic mobility.’
– Rob Fairlie, University of California, Santa Cruz, US
Contents: 1. Understanding Poverty 2. The Nature of Entrepreneurship 3. Entrepreneurship and the Poor 4. Types of Entrepreneurs and Types of Ventures 5. Opportunity Horizons and the Poor 6. The Challenges of Literacy among the Poor 7. Technology and the Poor 8. Building Supportive Infrastructure for Low Income Entrepreneurs 9. Financing the Ventures of the Poor 10. Overcoming Resource Constraints 11. From Vulnerability to Sustainability: The Challenges of Planning and Strategy 12. Making Sense of the Economics 13. Policies and Programs to Support Low Income Entrepreneurship Index