Adima Julius Osaremen
&
Racheal Titi Adima
Department of Business Administration and Management
National Institute of Construction and Management Science
Uromi, Edo State, Nigeria
j.adima@nict.edu.ng || juliusadimaosas@yahoo.com
Abstract
Purpose – Experience has shown that start-up creation is an essential vehicle for meeting National growth and overcoming poverty and an indispensable part of an entrepreneurial ecosystem to promote job creation and economic empowerment across the global economy. However, gross inability to accurately identify the critical components constructs, variables and theoretical framework inconsistency in the start-up creation are bound. This leads to a non-increase in the rate of establishments with job creation as it has received less attention in the context of start-up creation. Therefore, this paper’s objective is of three folds: first is to review the extant literature on start-ups to arrive at a framework that comprehensively explains core components, structure, constructs, variables, and relevant existing theoretical evidence in the start-up ecosystem. The second aim is to formulate and conceptualize a tenable framework for a modern-day start-up life circle. And lastly, to empirically appraise the performance of its Start-up phase constructs in Nigeria context. Further, after extensively reviewing some theoretical frameworks, empirical and conceptual propositions, it develops a conceptual framework combining pre-start-up, start-up, and post-start-up construct processes. The study also provides theoretical-driven evidence showcasing external environmental factors as critical variables in the start-up creation processes. The conceptual framework derived as pre-start-up, start-up, and post-start-up stages from the systematic and scientific literature review will encourage further research and exploration of every visible and invisible component pre-startup, start-up, and pre-start-up phases. It will also enhance and expand some notable theoretical contributions of old, more dynamic compliance to dictate the current business environment.
Keywords: Start-up life-circle, Pre-start-up, Start-up, Post-start-up, Conceptualized Framework, Visibility theory, Conceptual-method, Start-up Exit
