A business is an organization engaged in the trade of goods, services, or both to consumers. Businesses are predominant in capitalist economies, where most of them are privately owned and administered to earn profit to increase the wealth of their owners. Businesses may also be not-for-profit...
, entrepreneurial networks
are social organizations offering different types of resources
In project management terminology, resources are required to carry out the project tasks. They can be people, equipment, facilities, funding, or anything else capable of definition required for the completion of a project activity. The lack of a resource will therefore be a constraint on the...
to start or improve entrepreneurial projects. Having adequate human resources
Human resources is a term used to describe the individuals who make up the workforce of an organization, although it is also applied in labor economics to, for example, business sectors or even whole nations...
is a key factor for entrepreneurial achievements. Combined with leadership
Leadership has been described as the “process of social influence in which one person can enlist the aid and support of others in the accomplishment of a common task". Other in-depth definitions of leadership have also emerged.-Theories:...
, the entrepreneurial network is an indispensable kind of social network not only necessary to properly run the business or project, but also to differentiate the business from similar projects.
The goal of most entrepreneurial networks is to bring together a broad selection of professionals and resources that complement each other's endeavors. Initially a key priority is to aid successful business launches. Subsequently provide motivation, direction and increase access to opportunities and other skill sets. Promotion of each members talents and services both within the network and out in the broader market increases opportunities for all participants.
One of the key needs of any startup is capital
In economics, capital, capital goods, or real capital refers to already-produced durable goods used in production of goods or services. The capital goods are not significantly consumed, though they may depreciate in the production process...
, and often entrepreneurial networks focus on providing such financial resources, particularly tailored to their membership demographic.
Entrepreneurial networks may also become community involved, endorsing reforms, legislation or other municipal drives that accommodate their organization's goals.
- lawyers, various specialties
- contractors/construction managers
- real estate professionals
- government people or institutions
- high skilled employees
- clients or any other kind of social contacts that can make the entrepreneurial business (or project) successful