Abstract
High growth firms (HGFs) are a vital determinant of regional economic competitiveness. This paper examines the effectiveness of a Welsh publicly funded business accelerator programme (BAP) designed to nurture HGFs via relational support measures. The paper teases out both the support requirements sought by high growth entrepreneurs, together with the perceived effectiveness of the programme’s offering. Hitherto, the literature has been silent in terms of the mental well-being and psychological resilience of founders of HGFs. This study discovered how mental well-being and psychological resilience of entrepreneurs was very acutely and detrimentally affected when experiencing periods of rapid firm growth. The research also uncovered a disconnect between the support needs of HGFs and those provided by BAPs. To help develop the capabilities and durability of entrepreneurs, “growth readiness” coaching together with psychological resilience training seem appropriate policy measures to help entrepreneurs successfully navigate turbulent episodes of high growth.
Original language | English |
---|---|
Article number | 00917 |
Number of pages | 20 |
Journal | Small Business Economics |
Volume | 00 |
Issue number | 00 |
Early online date | 19 Mar 2024 |
DOIs | |
Publication status | E-pub ahead of print - 19 Mar 2024 |
Keywords
- High growth firms
- Business accelerator programmes
- Mental health
- Public policy