An Analysis of Informal Social Networks by Industry (Report‪)‬

INTRODUCTION Networks are becoming increasingly important as they provide firms with access to markets, information, technology, and other resources which can improve a firm's chances of survival and growth (Aldrich, Reese, & Dubini, 1989; Birley, 1985; Farr-Wharton & Brunetto, 2007; Granovetter, 1973; Gulati, Nohria & Zaheer, 2000; Hoang & Antoncic, 2003; Madsen, 2007; Malecki, 1997; Teece, 1986). Entrepreneurs are, to some extent, dependent on their networks of personal relationships when making decisions and solving problems (Taylor & Thorpe, 2004). An entrepreneur who can identify and exploit synergistic opportunities with partners who control complementary resources and capabilities is likely to enjoy an advantage over those business owners who are unable or unwilling to do so. Business founders with dense and varied networks of contacts can gain information to help them surmount business development problems, thus shaping their own survival and growth (Bruderl & Preisendorfer, 1998; Low & MacMillan, 1988)