Harnessing the Entrepreneurial Ecosystem for the Progression of a Conglomerate Business

Abstract

Logically, most entrepreneurs who start a single business often cannot survive for a long time in their field and face failure. This is because the reliance is solely on one business, and the market turbulence questions their sustenance. Entrepreneurs, operating two or more businesses, survive better and achieve business success. This hypothesis led this researcher to conduct in-depth interviews with conglomerate businesspersons. Conglomerate entrepreneurs provided a statement: "Survival of the fittest." In the ground, Entrepreneur will either succeed or fail. However, to survive a supportive ecosystem i.e. support from friends, family, the government, market, human capital, banks, etc., are needed. The researchers were eager to understand how the ecosystem support the entrepreneurs with multiple business to succeed. This study aims to contribute to the body of knowledge that the entrepreneurial ecosystem correlates Conglomerate business. This study aims to enhance the understanding of the interaction between conglomerate enterprises and the entrepreneurial ecosystem. The World Economic Forum’s (2013) model encompasses six factors— Support System, Human Capital, Market, Education and Training, Regulatory Framework, and Cultural Support to examine the commercial ecosystem. The researcher conducted a descriptive statistics pilot study using snowball sampling methods with a sample size of 70. The dataset collected using a structured survey instrument from conglomerate entrepreneurs in Tirunelveli District, Tamil Nadu, each with at least six months of operational history. First, the instrument’s psychometric properties were tested, and hypotheses were examined using Regression and Correlation. The findings suggest that policymakers and business leaders should focus on enhancing market access, human capital development, and supportive infrastructure to foster business success. Emphasizing educational and training programs tailored for entrepreneurs can further enhance the ecosystem