Introduction
The complexity, turbulence and rate of change of the business environment have intensified in recent decades (Ribeiro-Soriano and Urbano 2009). At the same time, small business owners and entrepreneurs have received greater recognition as drivers of economic growth. Several studies (Forsman 2011; McKeever et al. 2014) have reported that long-term economic growth and prosperity require participation from entrepreneurs. Both experts and government authorities seek to foster entrepreneurship as “an appropriate mechanism to face the impacts of the economic crisis” (GEM 2014, p. 100).
Entrepreneurship is increasingly considered a milestone on the road towards progress (Semrau et al. 2016). It contributes to countries’ development and prosperity and helps nations cope with growing environmental complexity (Welbourne and Pardodel-Val 2009). As a key driver of economic regeneration and growth, entrepreneurship receives considerable attention (Ferreira et al. 2017). Entrepreneurs identify and solve problems, which at the same time provide opportunities (Lee et al. 2009; Craig et al. 2014). In today’s environment, entrepreneurship encourages the competition that is necessary to reap the rewards of globalisation. One of the pillars of entrepreneurship is innovation (Eckhardt and Shane 2003; Reschke and Kraus 2008).
