Entrepreneurial interest, vision and the self-employment choice decision in uk regions

Entrepreneurial interest, vision and the self-employment choice decision in UK regions, Regional Studies. This paper takes the standard model of self-employment choice and extends it to allow for differences in the potential for self-employment amongst employees. Four groups of entrepreneurs are hypothesized: actual, potential, latent, and non-entrepreneurs. Both the standard model and the 'sequential' model are estimated on a UK data set, allowing for both 'super' and standard region variations. The sequential model offers distinct advantages over the standard model. The results have implications for national and regional entrepreneurship policy because they reveal a clear distinction between the factors governing interest in entrepreneurship and those influencing start-up from within the interested group.