A Short Note on Entrepreneurial Networks

Farid Menaa^*
*Correspondence: Farid Menaa, Department of Economics, Manipal University, India, Email:

Editorial

The description of a" network" being a system of connected factors, an "entrepreneurial network" is an association of entrepreneurs organized, formally or informally, with the object of adding the effectiveness of the members' business conditioning. Similar networks extend from veritably informal collective support arrangements on up to public and transnational class associations grounded on formal rules, substantial class freights, and frequently employing professional staffs. The expression includes business possessors meeting for breakfast once a week to trade gests, problems, openings, straits, and news all the way to transnational assiduity associations that link similar major conditioning as petroleum, sword, dispatches, and numerous other major branches of finance and of assiduity. Typical exemplifications are chambers of commerce, associations of racially or ethnically analogous business possessors, Rotary Clubs, alumni associations concentrated on business development, community grounded business clubs, assiduity associations, investment clubs with thematic points, some adventure capital associations, and SCORE (Service Corps of Retired Executives) patronized by the Small Business Administration. In one sense OPEC (Organization of Oil Exporting Countries) may be considered an entrepreneurial network as well. What these organizational types have in common is that their members are moreover in business, wish to be in business, have been in business, and/ or are interested in fostering a healthy business/ artificial terrain.

A study published by the National Commission on Entrepreneurship (NCOE), an association peopled by entrepreneurs and funded by the Kauffman Center for Entrepreneurial Leadership, posed the following question in designing the parameters of its study" What makes a community entrepreneurial?" Why, for illustration, do some locales feel to induce a vibrant and instigative business terrain while other places, with veritably analogous demographic biographies, struggle to induce new businesses and to keep those that get started? What the NCOE discovered verified conventional wisdom on the subject the presence of universities, access to adventure capital, and good physical architectures are all keys to a vibrant frugality. But the NCOE plant one other and important component that discerned" entrepreneurial" from other areas. NCOE's study, entitled Building Entrepreneurial Networks epitomized its findings this way" Successful regions aren't just counting on hard means like seminaries, structures, and capital. Soft, people- grounded means matter, and they count a lot. In particular, we plant that entrepreneurs thrive in regions where they can effectively network with other entrepreneurs'¦. Anyhow of their pronounced purpose, networks give entrepreneurs with critical openings for peer literacy. These learning openings count as communities with more expansive peer networks in place tend to enjoy advanced situations of both entrepreneurial exertion and profitable growth."

Business, trade, and craft associations, astronomically speaking, have been around as long as business has been. They weren't only common but government- covered institutions during the Roman conglomerate and, in the form of orders, represented one of the more important organizational forms of mediaeval business exertion, serving latterly as launching pads for the development of major sectors in the artificial age. The expression "entrepreneurial network," still, is of recent origin and represents yet another form of association reflecting the fashion ability of "networking," a subject bandied in detail away in this work under that name. The emphasis in what now follows, particularly the exemplifications cited, will be on the recently arising form.