I would like to thank my Professors at Hannam University to help me find the

participated in this study had no advantage of their business degrees rather 
the one with just high school diploma such as Case 4 has been doing as fine 
as others with business degrees. Instead of formal degrees almost all the 
participants focused on the need of learning Korean language. They 
emphasized that their korean language proficiency helped them better than 
any degree they had before. They also were unable to land employment 
opportunities because of inability to speak in Korean language, proficiently. 
One of the participants shared his thoughts that his business diploma from 
UK didn
’
t help him but if he learnt about digital marketing which is a growing 
trend in Korea, he would have had better growth in his business. 
5.7 Previous Experience 
Previous experience is categorized into two categories: job experience and 
business ownership experiences. The necessity immigrant entrepreneurs 
with prior business ownership experiences do their best to avoid the 
mistakes that caused previous failure. (Chrysostome & Arcand, 2009). 
consistent with prior literature, this study has found that those entrepreneurs 
who had experience of running businesses before were much more satisfied 
and more confident. Also, those who had job experience denied the use of 
such experience and emphasized the usefulness of entrepreneurial 
experience itself. It was found in this study that being a business owner 
demands different decision making skills and experiences than that of being 
an employee. Most of the participants who had an experience of working for 
someone else as an employee denied the advantage of that experience in 
their businesses. 
5.8 Risk Aversion 
Entrepreneurs are known to be risk takers as per the literature(Busenitz, 
1999; Koh, 1996) and there is no way entrepreneurs can be categorized as 

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people who averse risks. Some entrepreneurs take calculated risks but 
mostly they are tending to be in situations where they have to deal with 
ambiguity and uncertainty. The results indicate that entrepreneurs who