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Support is being provided to increase the pool of novice entrepreneurs who have no prior business ownership experience. Policymakers and practitioners are, however, considering whether to allocate resources towards portfolio and serial entrepreneurs who have prior business ownership experience. To inform this policy debate, similarities and differences between novice, serial, and portfolio entrepreneurs in Scotland and their 354 surveyed firms are highlighted. Evidence suggests that portfolio entrepreneurs have more diverse resources than either serial or novice entrepreneurs. On average, portfolio entrepreneurs appear to offer more attractive growth prospects than other entrepreneurs. A case for support tailored to the aspirations and needs of novice, serial, and portfolio entrepreneurs is presented. [ABSTRACT FROM AUTHOR]

Policy makers can target 'hard' (i.e. financial) and 'soft' (i.e. technical) assistance to firms. Some policy makers and practitioners are considering whether resources could be more effectively utilized if they were targeted towards habitual entrepreneurs, rather than in the form of additional initiatives to increase the pool of pure nascent entrepreneurs and novice entrepreneurs. To inform this policy debate, similarities and differences between 354 firms owned by novice, serial and portfolio entrepreneurs in Scotland are highlighted with regard to the process of financing businesses, organizational capabilities as well as the size and performance of the surveyed businesses. Presented empirical evidence confirms that portfolio entrepreneurs have more diverse experiences and more resources than either serial or novice entrepreneurs. On average, portfolio entrepreneurs appear to offer more attractive growth prospects than other entrepreneurs. A case for targeted support tailored to the aspirations and needs of portfolio (and serial) entrepreneurs is presented. [ABSTRACT FROM AUTHOR]