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The purpose of this paper is to respond to the call by McMullen and Dimov (2013) for a clearer understanding of entrepreneurial journeys by investigating the entrepreneurial capitals and micro-processes of seven young early stage entrepreneurs who all exited their businesses within 3 years of start-up.

The authors analysed empirical data from concurrent in-depth interviews which generated rich longitudinal case studies. Theory-building then led to a proposed “Longitudinal Dynamic Process Framework” of entrepreneurial goals, processes and capitals.

The framework builds on prior studies by integrating entrepreneurial processes and decisions into two feedback loops based on continuous review and learning. It thereby enhances understanding of the dynamics of new business development and unfolds the early stage ventures entrepreneurs' business exits.

The findings are based on a small purposive sample. However, the main implication for research and theory is showing how the entrepreneurial capitals are dynamic and influenced by entrepreneurs' environment, and also separating entrepreneurs' personal issues from their business issues.

The findings challenge some assumptions of policymakers and offer new insights for practitioners and early stage entrepreneurs. These include having more realistic case-studies of the entrepreneurial journey, recognizing the need to be agile and tenacious to cope with challenges, understanding how capitals can interact in complementary ways and that entrepreneurial processes can be used to leverage them at appropriate stages of the start-ups.

The concurrent longitudinal analysis and theory-building complements extant cross-sectional studies by identifying and analysing the detailed processes of actual business start-ups and exits. The proposed framework thereby adds coherence to earlier studies and helps to explain early stage entrepreneurial development, transformation of capitals and business exit.

The purpose of this paper is to investigate how digital creative graduates develop new businesses on graduating from university, and how their creative, business and personal lives interact until their nascent ventures fail financially.

Seven digital creative nascent graduate entrepreneurs were followed for up to five years. Although independently assessed as having promise of business success, they were young and lacked business experience. They were followed through six-monthly semi-structured interviews which investigated their business, creative and personal development. The interviews were transcribed and key statements manually coded and extracted for analysis to identify issues, tipping points and outcomes.

The primary contribution is the finding that, despite a promising beginning and very generous start-up support, all seven nascent ventures failed financially and most were closed down in favour of employment, particularly when personal issues such as parenthood sharpened the need for stable levels of income. The graduates demonstrated weaknesses in their commercial skills, especially selling (human capital) and insufficient utilization of networks (social capital) so that in the mainly mature low entry-barrier markets they were entering they were at a disadvantage from the outset. The research has also demonstrated the value of a real-time longitudinal qualitative approach to investigating businesses from business start-up to eventual exit.

The insights gained have practical implications for start-up and survival support for creative graduate businesses, as well as raising issues about the effectiveness of postgraduate entrepreneurship education and cultural policy relating to this economically important sub-sector.

The longitudinal approach has brought new insights and indicates several areas where more research would be valuable, especially in dealing with the consequences of unsuccessful nascent business ventures.

Although start-ups have gained increasing scholarly attention, we lack sufficient understanding of their entrepreneurial strategic posture (ESP) in emerging economies. The purpose of this study is to examine the processes of ESP of new technology venture start-ups (NTVs) in an emerging market context.

In line with grounded theory guidelines and the inductive research traditions, the authors adopted a qualitative approach involving 42 in-depth semi-structured interviews with Ghanaian NTV entrepreneurs to gain a comprehensive analysis at the micro-level on the entrepreneurs' strategic posturing. A systematic procedure for data analysis was adopted.

From the authors' analysis of Ghanaian NTVs, the authors derived a three-stage model to elucidate the nature and process of ESP Phase 1 spotting and exploiting market opportunities, Phase II identifying initial advantages and Phase III ascertaining and responding to change.

The study contributes to advancing research on ESP by explicating the process through which informal ties and networks are utilised by NTVs and NTVs' founders to overcome extreme resource constraints and information vacuums in contexts of institutional voids. The authors depart from past studies in demonstrating how such ties can be harnessed in spotting and exploiting market opportunities by NTVs. On this basis, the paper makes original contributions to ESP theory and practice.