Entrepreneurship in China: Characteristics, Attributes, and Family Forces Shaping the Emerging Private Sector

Abstract

This study profiles new Mainland Chinese entrepreneurs and their enterprises as well as explores the cultural and family forces shaping small- and medium-size enterprise development. The study uncovers entrepreneurial motives, demographic attributes, and the type of businesses being established. Family and enterprise relationships relating to financial investment and employment are also presented. The majority of enterprises were found to be closely held small businesses focused on the retail and technology sectors. The findings suggest that entrepreneurs are motivated by the need for independent-based achievement and continuous learning around a family focus. Family played an active role in enterprise formation and development in China. Entrepreneurs were found to rely on family members both to establish and develop their enterprises. The majority of the entrepreneurs surveyed employed at least one family member on a full-time basis. Entrepreneurs were also found to use family finances as the primary source of start-up capital.

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