Incidence of teams in the firms owned by serial, portfolio and first-time entrepreneurs

This study focused on the prevalence of teams in the firms owned by habitual and first-time entrepreneurs. Most team-oriented studies in the field of entrepreneurship have rather focused on entrepreneurial than management teams. In this study, we extend the prior research by linking management teams to the discussion and by paying attention a previous closure experience of an entrepreneur. The research revealed that management teams were more common in the firms owned by habitual than first-time entrepreneurs. Correspondingly, there were more solo entrepreneurs among the first-time entrepreneurs. The results also suggest that a closure experience decrease the probability of solo entrepreneurship.