Abstract:
Entrepreneurial resilience has been described as a complex, multidimensional construct
which is difficult to define and measure. Literature has identified three factors that
influence entrepreneurial resilience namely resourcefulness, hardiness and optimism.
However, there is very little empirical research evidence to support these factors. This
study aims to understand the meaning of entrepreneurial resilience, establish its key
influencing factors and identify mechanisms to harness and nurture entrepreneurial
resilience to create sustainable business ventures.
The primary data collection method was semi-structured interviews. A total of 16
interviews were conducted with founding entrepreneurs who have been in business for
a few years. Data was analysed manually through listening to interview audio recordings
and making summary notes in Microsoft excel from which themes were derived.
Entrepreneurs’ self-factors and venture factors emerged as the two main groups of
factors driving entrepreneurial resilience. Entrepreneur self-factors comprised of
passion, personality traits, support systems (friends and family), vision, belief system and
a network whilst venture factors included support systems (employees), financial
resources and structures of the venture. An “Entrepreneurial Resilience Influencers
Model” was developed, which integrates the key factors affecting entrepreneurial
resilience and assists entrepreneurs to influence, harness and nurture their resilience to
create sustainable business ventures.
