Business Intentions of Australian Veterinary Students—My Business or Yours? A Cluster Analysis

SIMPLE SUMMARY: Entrepreneurship and intrapreneurship (entrepreneurial behaviour of employees) foster business innovation and growth and support wealth creation and employment in both privately owned and corporate businesses such as those that deliver contemporary veterinary services. Yet we know little about the propensity for entrepreneurship or intrapreneurship of entrants to the veterinary sector. In our study population of veterinary science, entrepreneurship, and human nursing final-year students, veterinary respondents stood out overall for their high entrepreneurial intention and outcome expectations of business ownership but low financial self-efficacy and corporate work intentions. These findings raise questions about (i) the effectiveness of veterinary business curricula which focus on expense management and (ii) the goals and expectations of new entrants to the veterinary sector. However, cluster analysis of responses to these measures revealed that 28.8% of veterinary respondents were entrepreneurial, 17.8% entrepreneurial and intrapreneurial (particularly men), and 13.1% intrapreneurial only (i.e., ~31% intrapreneurial), signalling the opportunities and risks for large veterinary businesses to harness these individuals and their intrapreneurial tendencies. Post hoc analysis revealed cluster differences per veterinary school. To inform curricular change, we recommend further research to evaluate the relative impact of individual factors, admissions factors, and the formal or hidden curricula on entrepreneurial intention in veterinary final-year students. ABSTRACT: Little is known about veterinary entrepreneurial predisposition. Yet entrepreneurship and intrapreneurship (entrepreneurial behaviour of employees) foster business innovation and growth and support wealth creation and employment in both privately and corporately owned businesses which deliver contemporary veterinary services. We used responses from 515 final-year students in Australian entrepreneurship, nursing, and veterinary programs to capture entrepreneurial intention (EI), outcome expectations (OE-sb), entrepreneurial self-efficacy (ESE), and corporate/large organisation work intentions (CWIs). Veterinary respondents stood out for their high EI and high OE-sb, but low financial ESE and low CWI. Proportions of veterinary, entrepreneurship, and nursing respondents differed markedly across distinct cluster profiles representing entrepreneurial, intrapreneurial, both entrepreneurial and intrapreneurial, indifferent, and corporate employment intentions and attributes. Post hoc analysis revealed proportional cluster membership differences for respondents from different veterinary schools. Our findings raise questions regarding (1) the effectiveness of veterinary business curricula competencies which focus on expense management and (2) the implications of the mismatch of motivations and goals of new veterinary sector entrants whose low intent to work in a corporate environment is at odds with increasing corporate ownership of veterinary practices. To inform curricular change, we recommend further research to evaluate the relative impact of individual factors, admissions factors, and the formal or hidden curricula on entrepreneurial intention in veterinary final-year students.