Culture Norms and Personality Traits Influence on Entrepreneurship Entrepreneurs are considered a rare breed in that they would take risk more than the returns they earn, accept lower than median earnings when compared to similarly skilled wage-earners and hold poorly diversified portfolio (Puri & Robinson, 2005) During the start up stages, founding members are usually more passionate as they were the ones who nurtured the firm to its present status and would remain so on all activities concerning the firm. They tend to worry about future prospects and have a high locus of control believing that their life’s event could be controlled (Ang and Hong, 2000). Thus, when failures occur it would attribute it to their own actions. In studies comparing Hong Kong and Singapore Chinese entrepreneurs and SMEs, Singapore Chinese were found to be more risk adverse. It is a given that a Singapore Chinese entrepreneur and a Chinese from elsewhere display many similar traits. The idea that entrepr...
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