Understanding challenges and entrepreneurial self-efficacy during venture creation for entrepreneurs in cultural and creative industries

Abstract

The paper empirically researches the venture creation process for entrepreneurs in cultural and creative industries, whereby the focus is on entrepreneurial self-efficacy and its impact on entrepreneurial behaviour. In doing so, a qualitative case study design is applied, and the venture creation process for ten individual cultural and creative entrepreneurs from cultural and creative industries is analysed. During the process, the entrepreneurs experience varying levels of entrepreneurial self-efficacy, which impacts their entrepreneurial behaviour. When emphasising their business model, cultural and creative entrepreneurs are confident about finding one that matches their skills. When entrepreneurs have to take entrepreneurial action, low entrepreneurial self-efficacy reduces the number of entrepreneurial activities.