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SPRU Electronic Working Paper Number 203 Business Experience and Start-up Size: Buying More Lottery Tickets Next Time Around? 1 Business Experience and Start-up Size: Buying More Lottery Tickets Next Time Around? 1
2012
unpublished
This paper explores the determinants of start-up size by focusing on a cohort of 6247 businesses that started trading in 2004, using a unique dataset on customer records at Barclays Bank. In our theoretical model, post-entry growth is treated as a random walk, and start-up size is positively related to survival. In this view, business experience does not have any impact on post-entry growth (since growth is random), but is associated with higher survival if entrepreneurs with prior business
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