Firms with fewer than 500 employees in the United States are considered small- and medium-sized enterprises.
2.Individuals who discover, evaluate, and exploit previously unexplored opportunities are referred to as entrepreneurs.
3.The word “entrepreneurs” mostly refers to founders and owners of new businesses or managers of existing firms.
4.SMEs are the exclusive domain of entrepreneurship.
5.Whether entrepreneurship is facilitated or retarded significantly depends on formal institutions governing how entrepreneurs start up new firms.
6.International entrepreneurship is defined as “a combination of innovative, proactive, and risk-seeking behavior that crosses national borders and is intended to create wealth in organizations.”
7.SMEs tend to be less entrepreneurial than large firms.
8.Cultural values and norms are examples of informal institutions.
9.In general, governments in developed economies impose more procedures to start a company than those in poorer countries.
10.Both formal and informal institutional constraints, as rules of the game, affect entrepreneurship.
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