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d, two assumptions would have to be made; firstly, the personal characteristics of already established multiple entrepreneurs would have to be stable over time. Measuring long established multiple entrepreneurs, or after the start of new ventures, would have to assume that the personal characteristics would not change under the influence of the multiple entrepreneurial activity.

However, going by McClelland (1990), the need for achievement is considered as a learnt characteristic. Believing that personal characteristics would not change in social context engendered by multiple entrepreneurial activities, such as starting new ventures would be considerably reasonable. Furthermore, we have already found out in our earlier study that research has conclusively indicated that personal characteristics such as the need for achievement do change (McClelland 1990, Hansemark, 1998).

Also, research on already established multiple entrepreneurs' demands that the personal characteristics measured have a predictive validity, i.e. they should be a part of the individual personality before the multiple entrepreneurial activities, which could then be considered to have a significant value for the multiple entrepreneurial decisions. Although the research findings show that successful multiple entrepreneurs have certain characteristics, such as higher n achievement, than unsuccessful multiple entrepreneurs, it does not show that n achievement is important for multiple entrepreneurships.

There are two limitations of the study to comment about; the first one being that the companies that started and terminated during the first five years after the psychological characteristics in the initial study were measured, were not registered in the centralized register where the information for follow-up study was found. Therefore, some companies could be missing from the data used. Attrition could also be problematic, but in the attrition group, the distributions of the individuals who had started new businesses, and those who had not was on a same level with the distribution for the group that continued taking part in the study.

The second limitation is in the restrictive manner through which the study defines entrepreneurial activity, which presumes that to start a new business is entrepreneurial, without considering the fact that many businesses are founded to provide work for the founders, rather than to for instance basically exploit an innovation (Kirtzner, 1996). Johnson (1990), found a positive relationship between need for achievement and entrepreneurship, whereby TAT has some degree of construct validity, and that there are indications that it predicts a variety of motivational entrepreneurial behaviors. That information leads us to the practical implications in Small and Medium Sized enterprises.

5.0 Conclusion

According to McMillan (1986, pg 241), studying habitual entrepreneurship so that we may understand the behavior of small businesses and small business owners is vital in helping policy and decision makers and those responsible for developments of small and medium (SMEs) business sector. Starr and Bygrave (1991) commented that multiple business entrepreneurs are 本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。