Entrepreneurial Resilience, High Impact Challenges, and Firm Performance

Abstract

This paper discusses resilience in entrepreneurship as being distinct from the general construct of resilience. We make this delineation by arguing that there are specific high-impact challenges which relate to entrepreneurship but not to general living, such as a weak economy, changes in political climate, lack of access to capital, intellectual property theft, and intense competition. Following a literature review of cognitions research, and psychological resilience, we develop some theory-based propositions. We also discuss the practical implications and future research directions that should be undertaken, before concluding the paper.