Exploring the formation of entrepreneurial teams: the key to rapid growth business?

There is ample anecdotal evidence, as well as an emergent body of literature, which examines the role of entrepreneurial teams in the success and growth of businesses. Earlier research by the authors has demonstrated that the core competence required by founding entrepreneurs is the ability to build and manage relationships. Their more recent work suggests that this core competence must be based around a clear vision for the business. In other words, the founding entrepreneur must be able to build a team to deliver the business vision. A review of literature is provided in this paper, offering a definition of the concept and some of the core issues that have to be addressed by entrepreneurs and small firm policies if businesses are to continue growing. This is supported by some preliminary findings from empirical research into how entrepreneurial teams are formed. The paper continues with propositions that can lead to further research in this relatively unexplored field.

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