ABSTRACT
In this chapter, we explore the links between entrepreneurial networks, the generation of social capital and access to resources. As we discuss below, one of the key changes in our understanding of entrepreneurship has been the shift away from seeing those engaged in business start-up as ‘heroic’ individuals (Conway and Jones 2012). Birley (1985) was one of the first researchers to observe that the entrepreneurial ability to engage in networking was an essential skill for identifying opportunities1 and accessing the resources necessary to develop new ventures. In the last 10 years, the study of entrepreneurial networks has become one of the most important topics for improving our understanding of the way in which new businesses operate. It is well established in that effective entrepreneurs need a mixture of both strong ties, based on family and close friends, and weaker ties based on professional and business contacts. Perhaps more importantly, entrepreneurial networks must be dynamic and the mix of strong and weak ties will change as the business becomes more established. As we discussed in Chapter 4 (skills and capabilities), developing the social and communication skills required to identify and access new network contacts is crucial for entrepreneurs who want to establish businesses that have real potential for growth.
