Elements of Entrepreneurship Under the Cultural Aspect: A Comparison of Culture of Portuguese Speaking Countries with Spanish Speaking Countries

Abstract

The objective of this study is to show aspects related to the entrepreneurship of cultures of Portuguese speaking countries, when compared to cultures of Spanish speaking countries. We investigate the literature on national culture and entrepreneurship and survey the theoretical connections between the national culture and opportunity perception, previous competencies, risk tolerance, society’s perceptions, entrepreneurial intent and job satisfaction. The database on entrepreneurship is based on the Global Entrepreneurship Monitor. Based on regression analysis, results showed differences between residents in culture of Portuguese and Spanish speaking countries for all variables measured. There is evidence of distinct perceptions between cultures of Portuguese and Spanish speaking countries, which may affect how to manage entrepreneurship in such countries. Finding differences in perceptions among distinct cultures can facilitate the development of assertive public policies for the promotion of entrepreneurship.