Psychological Features and Entrepreneurial Intention among Saudi Small Entrepreneurs during Adverse Times

Abstract

This study’s objective is to examine the influence of entrepreneurial self-efficacy and internal locus of control on the entrepreneurial intention of small Saudi entrepreneurs during adverse times, with entrepreneurial resilience as a moderator. The study, which targeted a sample of 207 small entrepreneurs working in various sectors in Saudi Arabia, gathered data through an online questionnaire sent to respondents and analysed the results using PLS-SEM. The study revealed intriguing findings, such as the existence of a positive significant relationship between entrepreneurial self-efficacy, internal locus of control and entrepreneurial intention amongst small Saudi entrepreneurs. It also demonstrated that in times of adversity, such as during the COVID-19 pandemic and other environmental challenges, entrepreneurial resilience can act as a moderator between entrepreneurial intention and entrepreneurial self-efficacy. Entrepreneurial resilience, in particular, has the potential to strengthen the relationship between entrepreneurial self-efficacy and entrepreneurial intention. Accordingly, the government, along with other sectors and stakeholders in Saudi Arabia, should continue to support the psychological characteristics of small Saudi entrepreneurs, notably their internal locus of control, entrepreneurial self-efficacy, and entrepreneurial resilience to ensure greater sustainability and the continuity of their small businesses.