Table 5

Gestation activities undertaken and indicators of start-up during study period

ObusiMonikaSebastienPamelaLisaLietus
Nascent activity
Devoted 35+ hours/week on business      
Arranged childcare      
Saved money to investXXXXXX
Asked for funding      
Established credit with suppliers  X   
Invested own money XX   
Hired employees/managers      
Organized teamX XXXX
Prepared business planX  XX 
Developed model or procedures of product/serviceXXXX  
Applied for copyright, patent, trademark      
Purchased, rented or leased major equipment      
Defined market opportunityXXXXXX
Developed financialsXXXXX 
Started marketing and promotion XX   
Purchased raw materials, supplies XX   
Took a class on starting a businessXXXXX 
Opened business bank account  X   
Start-up indicators
Received money, income or fees XX   
Positive cash flow XX   
Paid managers who are owners a salary      
Filed taxes      
Business phone listing      
Business phone line      

Note(s): Activities and indicators drawn from Reynolds (2000) 

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