The Role of 'Professional Advisors on Financial Matters' in Entrepreneurial Networks

Abstract

This study investigated the influence that 'professional advisors on financial matters' have in comparison with other people with whom entrepreneurs discuss their venture. Based on follow-up surveys completed in relation to the Danish participation in the Global Entrepreneurship Monitor (GEM) survey, it was found that professional advisors on financial matters only play a minor role in the two early phases of the entrepreneurial process before the venture is actually started. It was further revealed that the ties between professional advisors on financial matters and entrepreneurs often are weaker than the ties entrepreneurs have with others in their discussion network. Two practical implications for professional advisors on financial matters emerged from the study.

Keywords: Advisor, financial matter, social networks