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Entrepreneurship in an Alpine micro-nation: the case of Liechtenstein

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  • Felix Schuessler
  • Michael T. Schaper
  • Sascha Kraus

Abstract

Although it is one of the smallest nation-states in existence, the Principality of Liechtenstein has one of the highest rates of entrepreneurship in the developed world. More than 14% of the population is self-employed or works in their own firm, and there are more than 4,000 businesses in a population of just 35,000 people, even though the country has few natural resources or advantages. This article examines how such a micro-nation has succeeded in spite of its disadvantages. The paper outlines the history of the principality and its economic development over the last century, identifies the main drivers for the very positive entrepreneurial climate in the Alpine micro-nation, and outlines current opportunities and problems faced by entrepreneurs in the country.

Suggested Citation

  • Felix Schuessler & Michael T. Schaper & Sascha Kraus, 2014. "Entrepreneurship in an Alpine micro-nation: the case of Liechtenstein," International Journal of Entrepreneurship and Small Business, Inderscience Enterprises Ltd, vol. 22(1), pages 106-114.
    • Handle: RePEc:ids:ijesbu:v:22:y:2014:i:1:p:106-114
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    Citations

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    Cited by:

    1. Sascha Kraus & Alexander Brem & Miriam Schuessler & Felix Schuessler & Thomas Niemand, 2019. "Innovative Born Globals: Investigating the Influence of Their Business Models on International Performance," World Scientific Book Chapters, in: Alexander Brem & Joe Tidd & Tugrul Daim (ed.), Managing Innovation Internationalization of Innovation, chapter 11, pages 275-328, World Scientific Publishing Co. Pte. Ltd..
    2. Garcés Bautista, Jose Luis & Estellés Miguel, Sofia & Sarmiento Suarez, Jaime Enrique & Peris Ortiz, Marta & Valero Córdoba, Gladys Mireya, 2022. "Born globals: conveniencia de definición de determinantes para un país latinoamericano: Colombia," Revista Tendencias, Universidad de Narino, vol. 23(2), pages 202-219, July.
    3. Harms, Rainer & Luck, Florian & Kraus, Sascha & Walsh, Steven, 2014. "On the motivational drivers of gray entrepreneurship: An exploratory study," Technological Forecasting and Social Change, Elsevier, vol. 89(C), pages 358-365.

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