Entrepreneurial qualities: a case from Russia

Kuznetsova, Olga, Kunsetsov, Andrei and McDonald, Frank (2000) Entrepreneurial qualities: a case from Russia. Journal of small business management, 38 (1). pp. 101-107. ISSN 0047-2778

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Abstract

This article attempts to consider attributes of the successful entrepreneur as highlighted by Western literature with a view to evaluating their relevance for entrepreneurs in Russia. The analysis highlights some specific entrepreneurial qualities that appear to be more important than others in Russia. General uncertainty regarding almost every aspect of business is probably the most important single characteristic of the Russian business environment. However, this is not the only factor that makes life difficult for business operators in Russia. Transaction and start-up costs are large because of the inadequacies of Russian legal frameworks and frequent changes in regulations. Securing financial resources, particularly at the early stage of the project, is a daunting task. Direct assistance programs and venture capitalists are all but non-existent, while a combination of state regulations and banking policies has placed credit out of reach for small and medium-size enterprises. Russia is characterized by mistrust between participants in business transactions.