How do entrepreneurial activities at different levels promote business growth: a review and research agenda

Abstract

PurposeThis study aims to solve the realistic dilemma between the importance of entrepreneurship and the high rate of entrepreneurial failure, and to point out the direction of subsequent research.Design/methodology/approachThe paper takes the form of a literature review.FindingsEntrepreneurial activities involve multiple dimensions. Entrepreneurs or entrepreneurial teams will be affected by multiple factors when starting a business, and sufficient attention should be paid to both the factors within the group and the factors outside the group such as institutional quality and market competition. High entrepreneurial failure rate is an essential characteristic of entrepreneurial activities, while solving this problem requires entrepreneurs to maintain passion, clarify their own motivation, improve their learning abilities and adopt appropriate entrepreneurial strategies to improve entrepreneurial performance. Meanwhile, it also urgent to build entrepreneurial teams with common goals, heterogeneous knowledge structure, outstanding learning ability, solid mutual trust, strong social influence and social capital. Successful entrepreneurship should adhere to the perspective of openness and cooperation. It should not only actively strengthen international cooperation but also fully adapt to the country’s system and culture. Sustainable growth of entrepreneurial enterprises requires not only stable commercial revenue but also responsibility to society, which in turn leads to a good reputation and high social recognition.Practical implicationsThe authors hope this review can provide some insightful viewpoints for deepening the theoretical system of entrepreneurship, improving the success rate of entrepreneurship and promoting the sustainable growth of enterprises.Originality/valueFurther research can be carried out on the promotion of business growth by entrepreneurship at the micro level in the following aspects: analyze functional mechanism between innovation and entrepreneurship; entrepreneurship research by integrating multiple institutional contexts and cultural traditions; consider the changes in emerging technologies on entrepreneurial activities; diversified mechanism between entrepreneurship education and business growth.