Abstract
This study investigated the effect of perceived entrepreneurial stress on entrepreneurial resilience with the well-being of an individual entrepreneur in mediating role and perceived online social support moderating this relationship. Using survey data collected from 204 entrepreneurs in two major towns in Kenya, considered entrepreneurial hubs were analyzed. To uncover this relationship, confirmatory factor analysis was conducted to test the discriminant validity of the measurement model. Hierarchical multiple regression was used to test four hypotheses in seven models to estimate direct, indirect and interaction effects. The results showed that perceived entrepreneurial stress and the well-being of individual entrepreneurs are significantly negatively related; this study also found out that the well-being of individual entrepreneurs and entrepreneurial resilience are positively related. For moderation effect, perceived online social support positively moderated the relationship between the well-being of individual entrepreneurs and entrepreneurial resilience. Finally, to test the indirect effect, bootstrapping analysis was used to identify mediation effects. The bootstrapping indirect test results revealed that the well-being of individual entrepreneurs mediates the relationship between perceived entrepreneurial stress and entrepreneurial resilience. This study outlines online communities as an avenue where entrepreneurs can access online social support that can facilitate entrepreneurial resilience during crises and to foster resilience among entrepreneurs despite adversity, entrepreneurs need to consider making a culture of seeking and providing social support online to fellow entrepreneurs and online communities.
Highlights
The rapid increase in the specialized journals in entrepreneurship studies has shown that the study in this field is slowly attracting attention among researchers
Since all the variables were assessed at the same time, the results might have been affected by common method bias (CMB); in an effort to minimize this, this study adopted the recommendation by Podsakoff et al [71] and conducted Harman’s single-factor test
This study demonstrates the likelihood that online social support, namely that from the online community, plays a role in enhancing entrepreneurial resilience perception
Summary
The rapid increase in the specialized journals in entrepreneurship studies has shown that the study in this field is slowly attracting attention among researchers. There is still limited research that focuses on the business practices in small and medium enterprises; especially by some of the leading international journals and research groups. The contributions made by new start-ups entrepreneurs in any economy will not go unrecognized. The rate at which most start-ups fail has drawn the attention of scholars such as Timmons et al [3]. Entrepreneurs are at the forefront battling the COVID19 pandemic and serve as the most vulnerable group, and they must use their ingenuity to confront the problems facing them and be resilient by all means possible. There is a greater need for well-established and new businesses to survive both in the short term and long term, especially during this time of the pandemic.
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