Beyond the Unicorns: A New Look at Entrepreneurship with Professor Friederike Welter

A new episode of the Promoting Enterprise podcast aims to answer that very question, featuring a thought-provoking conversation with Prof. Dr. Dr. h.c. Friederike Welter, who will be giving this year’s Schumpeter ‘Innovation in Enterprise’ Lecture at the SME Assembly.

As the President of the Institut für Mittelstandsforschung Bonn, Germany’s foremost institute for SME research, and Professor of Business Administration at the University of Siegen, Professor Welter challenges the prevailing narrative that only rapid growth matters. Her work has long championed a more nuanced understanding of entrepreneurship as a socially embedded, context-dependent phenomenon. In this episode, she discusses how her early experiences in Ghana shaped her perspective and why it’s time for policymakers to look beyond the hype and focus on the businesses that create jobs and build communities.

The conversation delves into the core challenges and opportunities facing small businesses today, from navigating complex economic landscapes to the role of social norms in shaping entrepreneurial aspirations. Professor Welter also sheds light on the concept of "sustainable entrepreneurship" and the importance of supporting diverse business models for a more resilient economy.

A highlight of the episode is a preview of Professor Welter's much-anticipated Schumpeter 'Innovation in Enterprise' Lecture. She shares her insights on the enduring legacy of Joseph Schumpeter and his theory of "creative destruction," and how his ideas are more relevant than ever in today's fast-changing world.

This episode is a must-listen for anyone interested in the future of our economy. Tune in to discover why a fresh perspective on small businesses is not just an academic exercise, but a vital step towards fostering innovation and building a stronger society. Listen now here.