| Although research has increased in entrepreneurship, to date it has not been possible to develop a universally common understanding of the concept. Consensus, however, appears to be gradually building in the literature for viewing entrepreneurship as the creation of new businesses.;The objective of this study was two-fold. First, uncovering new insights into the relationships between education and entrepreneurship by examining the business startup experiences of completers of entrepreneurial trainings. Second, to identify factors in the investment environment that may have enhanced or hampered business startups.;A survey instrument was developed and sent to 315 completers of entrepreneurship trainings in Minneapolis/St. Paul-based Technical and Community colleges between 1989-93 inclusive. An overall usable return rate of 60% was achieved.;The analysis of the data showed that 59% of completers of the trainings had started new businesses. Intention for completing the training programs was found to be related to business startup rate. And those with college education were found to have started businesses at a higher rate than those with less than college education.;Age was found to be related to business startup rate. For instance, for those 51 years and older it was 77% compared to 29% for those in the age bracket of 20-30. On the other hand, parental business ownership background and gender were not related to business startup rates.;Those with technical/engineering skills appeared to establish business at a higher rate compared to individuals in other professions. Employed individuals were found to startup businesses at a higher rate than others.;Forty-six percent of the respondents indicated that their completion of entrepreneurial trainings had influenced their decisions for business startup. Training components such as business plan, finance, marketing, and projects were perceived influential.;Perceived business startup difficulties were found related to respondents' startup status. For instance, those planning business startup rated access to capital as "very difficult" while those who started up rated the constraint as only "difficult".;A logistic regression analysis revealed that intention, education and contents of training programs were predictors of the probability of business startups.;The study concluded that the continued offering of entrepreneurship training programs in the Twin-Cities to enhance new venture formations is warranted. Environmental constraints for starting business in the region were not perceived detrimental. Training components such as business plan, finance, marketing and projects appeared to be influential for business startups.;The study recommended that a periodic follow up study of entrepreneurial training completers be undertaken, that a more focused targeting of employed individuals for such trainings be made and that age, education, and intention be broadly considered in the selection of participants for entrepreneurial training programs. |
