ABSTRACT
This chapter discusses the resource-based view of the firm and examine the key resources required for entrepreneurs who are starting and running new venture. In addition to the human capital that entrepreneurs bring to their business, accumulation of human capital over time through training and work experience is also relevant. Contradictions in the evidence base may also result from weak conceptualizations of how the process of accruing human capital and the experience of applying it in the labour market influences business start-up. Traditionally the literature advocates complete ownership control of all resources if firms are to gain competitive advantage. Depending on the scale and nature of the business and the abilities and starting endowments of the entrepreneur, however, gaining complete ownership of resources is a challenging task in most new ventures. To appreciate the relevance of the resource-based view to nascent entrepreneurs in their effort to accumulate appropriate resources at start-up.
