The majority of entrepreneurship researchers usually studies entrepreneurship in terms of new venture creation (Amaral and Baptista, 2007), whereas it is just as important to ensure that existing ventures continue to exist and prosper. Since most baby boom entrepreneurs are reaching the retirement age in the coming years (Berck, 2006; Gale and Scholz, 1999), insights into the antecedents and consequences of entrepreneurial entry modes are absolutely necessary. However, the extant literature is almost exclusively focused on entry modes of multinationals’ subsidiaries (Slangen and Hennart, 2008), whereas entry modes of individual entrepreneurs are mostly omitted (Parker and Van Praag, 2007).

As our focus is on entrepreneurs we respond to a research call in the literature and introduce the concept of entrepreneurial heterogeneity (novice and habitual entrepreneurs) (Westhead et al., 2005). Up till now, most entry mode studies are undertaken with a research population which consists of a mix of novice and habitual entrepreneurs whereby little attention has been paid to how that sample mix affects the findings (Westhead et al., 2005).