Will I Be Able to Function Effectively? Pandemic and Its Effect on Entrepreneurial Well-Being and Post-COVID-19 Functioning

Abstract

The present study proposes a theoretical framework to explain the resource constraints induced by pandemic on entrepreneurs. It has affected entrepreneurial well-being, which is described to dampen post-pandemic functioning. This theoretical study has also advanced the role of the type of entrepreneur in dealing with such stressor of a pandemic using the Lerman and colleagues' (2020) stress event theory (SET). This study is theoretical. It proposes a conceptual framework for the relationships between COVID-19 induced resource constraints and the entrepreneurial post-COVID-19 functioning with the underlying mechanism of entrepreneurial well-being. Following SET, this conceptual paper also proposes that opportunity entrepreneurs would be able to cope with this stressful event, which makes the difference in his or her well-being, social relationships, and functioning compared to the necessity entrepreneur. This study expects that the pandemic-induced constraints in property loss, physical infection, psychological stress, and the loss of loved have negatively affected the entrepreneur's well-being, which has limited the entrepreneurial functioning to perform post-pandemic. However, the type of entrepreneur makes a difference in affected well-being and functioning. This is the first study to explain the effect that pandemic has induced on the valued resources of entrepreneurs and will affect the post-pandemic functioning. The authors have presented a theoretical model incorporating the predictors and outcomes of entrepreneurial well-being in times of COVID-19 pandemic to suggests future research directions. The paper's proposed relationships can be tested empirically to understand better the magnitude of such effects on entrepreneurial post-pandemic functioning. Further, the conceptual model has important implications for practitioners.