A first conclusion is that - relying on the opinions of the entrepreneurs themselves - role models matter for pursuing an entrepreneurial career. The use of entrepreneurial role models appears wide spread: 54 percent of the entrepreneurs have a role model in the pre- and/or post-start-up phase. Of these entrepreneurs, 81% has a role model before starting up their venture and 63% has a role model within the first three years of the business’ operations. Almost half of these entrepreneurs have a role model both pre-and post-start-up, with the majority leaning on the same role model in these two different stages. All these percentages are even higher for first ventures: 27% of our sample consists of experienced entrepreneurs who are less inclined to use role models. This information confirms the potential of role models to serve as a self- reinforcing mechanism when entrepreneurship is gaining popularity in a country or region.
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