Evidence-Based Management for Entrepreneurial Environments: Faster and Better Decisions with Less Risk

Abstract

Entrepreneurship is risky. Most new technologies and new businesses fail. Shane (2008) reported that 25% of new businesses failed in the first year and that by the fifth year, fewer than half had survived. In the United Kingdom, Stark (2001) presented data showing a 75% failure rate for small and medium-sized enterprises in the first three years. The risk and high failure rate is because most new ideas and technologies are not good and are, therefore, rejected by the marketplace.