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NOTE: Since 2009 the title of the International Journal of Entrepreneurship Education (IJEE) has been changed to the title above.  ISSN numbers: IJEE 1649-2269 and IRE 2009-2822

Publications & Abstracts below

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ISSN Number: 2009-2822. Frequency: 4 Issues per year (online only)  

Article #1610 - The Business Performance of New Technology-based Firms: The Importance of the Business Model's Value Proposition and Customer Relationships

IRE Vol 17: Issue 3, 2019, Pages 323-346

Author(s): Hans Löfsten (Chalmers University of Technology, Sweden)

This study analyses the impact of the business model's value proposition and customer
relationships on business performance of new technology-based firms (NTBFs). NTBFs must create
a suitable business model to commercialise a new product or service to realize their economic
potential and perform as a business. We conducted a survey among 401 small, young Swedish
NTBFs in 2016 in the early stages of their existence and applied a multiple regression analysis
explaining business performance from various measures capturing value propositions and customer
relationships. The results show that performance-enhancing elements for business performance in
the early phases are product similarity (to products of other firms), internationalisation and
maintaining very close relationships to customers. The finding on product similarity is particularly
striking as it suggests that in the early stages of NTBFs it is imitation rather than innovation that may
help achieve higher business performance. This study contributes to the literature on NTBFs by
showing how various elements of the business model's value proposition and customer relationships
affect the firm's business performance in the very early stage of its development.