Cultural Perspective on Entrepreneurship in New Zealand

Running head: CULTURAL PERSPECTIVE ON ENTREPRENEURSHIP
Cultural perspective on entrepreneurship
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1CULTURAL PERSPECTIVE ON ENTREPRENEURSHIP
Table of Contents
Introduction......................................................................................................................................2
Discussion........................................................................................................................................2
Immigrant entrepreneurship in New Zealand..............................................................................2
IE based on ethnic minority entrepreneurship in New Zealand......................................................4
Weaknesses and areas of improvement in New Zealand.............................................................5
Impact of immigrant entrepreneurship on value creation............................................................6
Recommendations............................................................................................................................7
Conclusion.......................................................................................................................................8
Reference list.................................................................................................................................10

2CULTURAL PERSPECTIVE ON ENTREPRENEURSHIP
Introduction
The economic contribution of immigrant entrepreneurship is immense and it revolves
around the concept of developing and developed societies nowadays. The entrepreneurship
concept is the actual process of creating value and utilizing the resources properly for the
exploitation of entrepreneurship opportunities. The immigrant entrepreneurship means the
processes that take place when people from outside come in the parent country to start and
expand business properly. The topic will illustrate about the weaknesses and the areas of
improvement in New Zealand. It is seen that the immigrant entrepreneurship has created value as
well as improved the social and economic wellbeing to ensure effective business functioning. It
is to be discussed about the economic contributions and challenges of immigrant entrepreneurs to
the host country (Morris et al., 2013).
Discussion
Immigrant entrepreneurship in New Zealand
There are more than 90 percent small and medium sized enterprises and 50 percent of the
jobs are provided to the employee with the help of that. Based on the population size, New
Zealand is focused on managing the export activities where the products and services are sold to
the foreign countries. With the occurrence of immigrants travelling to New Zealand from all over
the world, it will be effective to create social and economic value through entrepreneurship and
at the same time, facilitate the creation of value, wealth and exploitation of resources to utilize
the scopes and opportunities (Cain & Spoonley, 2013).

3CULTURAL PERSPECTIVE ON ENTREPRENEURSHIP
Auckland is one of the largest cities in New Zealand that holds 30 percent of the entire
population of nearly 1,415,550. Nearly 15000 African immigrants reside in Auckland and they
have managed entrepreneurship to improve their lives and at the same time contribute well to the
growth in economy of the country (Engelen et al., 2014). Few of the factors that may benefit the
immigrant entrepreneurs include passion to go beyond the monetary value and benefits,
understanding the weaknesses in New Zealand and identifying the market factors along with
personality traits that are needed to become successful in business. The immigrants are perceived
as skilful, knowledgeable and entrepreneurial for the management of growth in economy and
innovation (Krueger, Liñán & Nabi, 2013). In spite of the level of motivation that the immigrants
possess, their contribution has brought profitable outcomes for many businesses in the
developing and developed countries, furthermore ensured creating special visas and entry
requirements to attract more immigrant entrepreneurs (Turró, Urbano & Peris-Ortiz, 2014). This
would propel the economy in New Zealand as well as secure minimum capital investments
through the development of a clear business plan and ensuring that business frauds do not occur
and employment opportunities are created for the people in New Zealand.
Being a small country with sources of income mainly dependent upon the small and
medium sized enterprises, the immigrant entrepreneurship may help in contributing to the
technology and engineering sector as well as provide employment opportunities to both the local
and immigrant workers (Zhou, Friedrichs & Sundin, 2014). With a huge amount of more than
$100 million in investments, Turkey and other neighboring areas joined the entrepreneurship and
made sure that the immigrants can start businesses. The financial technologies brought bigger
investments and it favoured use of online technologies for the businesses. The cultural
perspective is not as good expected at Turkey, still opportunities for female individuals are