The commercial and industrial activities of the Ekaterinburg merchant class in the second half of the nineteenth century and early twentieth century were accompanied by both successes and failures, some of which were significant. In some instances, these failures resulted in bankruptcy. Bankruptcy, a significant aspect of entrepreneurial activity, was closely monitored by the state. The state implemented various legislative measures to identify deliberate bankruptcies and protect the rights of creditors. In accordance with bankruptcy legislation, administrations and bankruptcy departments were established. The administrations were tasked with two primary objectives: first, to settle the bankrupt’s debts with their creditors, and second, to revitalize their business and provide them with the opportunity to resume their entrepreneurial activities. The main task of the bankruptcy departments was to protect the interests of creditors. To this end, all movable and immovable property of the insolvent debtor was sold, and the proceeds were used to pay the bankrupt’s debts. This article identifies the main causes of bankruptcy among Ekaterinburg merchants, briefly describes the procedure for declaring entrepreneurs insolvent debtors, the mechanism for establishing administrations and bankruptcy proceedings, and their practical activities. It is established that in the second half of the nineteenth century and early twentieth century, 99 Ekaterinburg merchants were declared insolvent debtors, and six administrations and 93 bankruptcy administrations were established in their cases at the request of creditors and judicial authorities. In most cases, the administrations and bankruptcy departments were established on the initiative of the courts and creditors.

Private higher education colleges (PHECs) pursuing university designation face a dual challenge: expansion of innovation and entrepreneurship (I&E) activity must occur alongside demonstrable, auditable quality assurance (QA) and institutional credibility. An integrated framework combining institutional legitimacy theory and the dynamic capabilities view is developed and applied to explain how entrepreneurial transformation unfolds under QA constraints. A qualitative single-case study of a South African PHEC (anonymised) draws on semi-structured interviews and organisational documents analysed through reflexive thematic analysis, supported by a capability coding scheme. Findings indicate that designation readiness is framed less as symbolic status seeking and more as a strategic lever for entrepreneurial growth and ecosystem positioning. Transformation is organised through six mutually reinforcing mechanisms: 1) QA-evidence engineering that converts compliance into learning and pragmatic legitimacy; 2) digital platform uplift as scalable innovation infrastructure; 3) entrepreneurial culture and incentive redesign to institutionalise intrapreneurship; 4) ecosystem orchestration across industry, government and civil society; 5) resource mobilisation through portfolio innovation (including modular and short-programme pathways); and 6) impact measurement routines that translate social value into reputational capital. Collectively, these mechanisms operate as feedback loops linking micro-level initiatives to macro-level legitimacy and strategic space. A capability–legitimacy explanation is advanced for entrepreneurial university emergence in teaching-led PHECs, with policy implications for differentiated designation pathways and proportionate accreditation processes that enable responsible experimentation without eroding academic standards.

<p>This paper examines how entrepreneurship functions as a mechanism for sustainable development in economies where resources are limited and institutional frameworks are weak. Drawing on established theories of entrepreneurship and sustainability, the paper argues that resource constraints do not simply impede entrepreneurial activity; in many cases, they shape distinctive forms of innovation and enterprise that contribute to economic inclusion, employment, and environmental adaptation. The paper reviews the theoretical basis for linking entrepreneurship with sustainable development, examines specific mechanisms through which this relationship operates, and considers the institutional conditions that either support or suppress entrepreneurial impact. Special attention is given to informal economy entrepreneurship and social entrepreneurship as expressions of market activity in constrained settings. The paper concludes by identifying conditions under which governments and development organizations can channel entrepreneurial energy toward sustainable outcomes, and argues for greater precision in how researchers conceptualize and measure entrepreneurial contributions to sustainability in low-resource contexts.</p>

The relationship between the presence of foreign-owned companies and entrepreneurial activity: The case of the Hungarian districts

The Solana saltworks in Croatia constitute a contemporary example of the redefinition of a traditional productive landscape into a center of health, therapeutic experience, and wellness tourism. This study examines the transition from mono-functional salt production to a multidimensional model that integrates natural salt production with halotherapy, wellness practices, and entrepreneurial activities. Particular emphasis is placed on the distinctive characteristics of high-purity salt and its incorporation into mild therapeutic applications. At the same time, the role of the saltworks as cultural and ecological landscapes is highlighted, where the therapeutic experience is closely linked to the natural environment and local identity. The research demonstrates that the integration of health, wellness, and entrepreneurship at the Solana saltworks constitutes a sustainable development model with positive social and economic impacts on local communities.

This study examines the operational structure of technology entrepreneurship support programs at Kumoh National Institute of Technology (KIT), with a particular focus on entrepreneurial club activities and practice-oriented startup support initiatives implemented by the Technology Entrepreneurship Team. The analysis is based on 2025 program operation data, including prototype development funding for entrepreneurial clubs, support for domestic and international startup competitions, the 3CS (Corporate Technical Problem-Solving) program, prototype development support for early-stage and prospective entrepreneurs, the K-Square startup valley initiative, and infrastructure support through the AI Makerspace. In addition, in-depth interviews were conducted with 35 student participants, five mentors, and three program administrators, and the data were analyzed using qualitative content analysis. The findings reveal that KIT’s practice-based entrepreneurship programs significantly enhance students’ creativity, problem-solving capabilities, presentation competencies, and understanding of early-stage startup processes. Experiential learning elements—such as prototype development funding, structured mentoring, and competition-based validation—were identified as key mechanisms that provide authentic opportunities for engaging in technologydriven entrepreneurship. However, the analysis also identifies several structural challenges, including delays in administrative communication and budget execution, insufficient competencies in market validation and business model development among participants, limited mentoring depth, mismatches in mentor assignment, and insufficient access to external expert and investment networks. Moreover, the independent operation of individual programs results in weak structural linkages across stages, thereby constraining the continuity of entrepreneurial growth pathways. Based on these findings, this study proposes an integrated multi-stage growth framework that strengthens business development capabilities, enhances mentoring continuity, expands external collaboration networks, improves administrative efficiency, and reinforces structural connectivity among support programs. The proposed framework contributes to advancing a practiceoriented university entrepreneurship ecosystem and provides policy and operational implications for regional innovation universities seeking to enhance technology-based startup education and support systems.

The research aims to identify the specific features of entrepreneurial activity among Tatar merchants in the Volga-Ural region in the late 19th and early 20th century, amidst the development of banking in Russia and the traditions of Muslim culture. The article presents the findings regarding the banking sector’s influence on the life of the Tatar (Muslim) population in the Volga-Ural region of the Russian Empire. The work establishes the main stages of Tatar entrepreneurship’s involvement in banking operations and identifies examples of entrepreneurs’ interactions with various financial institutions (e.g., participation in accounting and loan committees for commercial and industrial credits, their history of borrowing and depositing in banks, and instances of bankruptcy). The study also analyzes the spiritual wills of Tatar merchants and public discussions concerning banking instruments, ultimately generalizing their everyday historical experiences amidst the conflict between traditional Muslim values and the economic realities of the modernization era. The scientific novelty of the study lies in its being the first to thoroughly investigate the impact of the banking sector on Tatar entrepreneurial activity and to present specific historical examples of entrepreneurs’ interaction with financial institutions in the Volga-Ural region. The findings reveal that at the turn of the 19th and 20th centuries, Tatar Muslims changed their attitude towards banking instruments, and Tatar entrepreneurship actively utilized bank lending in both gubernia (provincial) and uyezd (district) towns of the specified territory.

Abstract Institutions and their impact on entrepreneurial activity have been a topic of interest in recent decades for two main reasons. First, formal institutions create a legal, juridical, and political framework that supports entrepreneurs. Second, informal institutions motivate and incentivise entrepreneurs to act. However, institutions can also be seen as endogenous factors determined exogenously by a climate of opinion generated in the so-called public sphere. Nevertheless, the impact of the public sphere on entrepreneurship, i.e., the social and political influences of the public opinion created around entrepreneurship, has not been studied. Moreover, today's public sphere is generated mainly in a virtual environment where digital networks play an important role. Therefore, the main objective of this paper is to investigate the relationship between the public sphere and formal and informal institutions and the impact of these institutions on entrepreneurial activity. To that end, an empirical analysis is carried out at the level of 18 Organisation for Economic Co-operation and Development (OECD) countries via a second-generation statistical technique based on latent variables. The results show that the public sphere enhances entrepreneurial culture, especially through the effect of formal institutions on entrepreneurial education and the effect of entrepreneurial education on informal institutions. On the other hand, indirect effects confirm that the public sphere also promotes entrepreneurial activity and thus stimulates it. This study has several practical implications for policy-makers, entrepreneurs and managers with respect to the role of the public sphere.

This study examines the strengthening of simple entrepreneurial culture among lower-grade students at SD IT Al Amin Tarai Bangun as an early effort to develop independence, communication skills, and responsibility. The research focuses on how experiential-based entrepreneurial activities such as mini-selling, simple market day events, handicraft production, and caring for a mini garden are implemented within daily classroom routines. The study aims to describe the forms of activities conducted, analyze how teachers manage and facilitate these practices, and identify the initial impact on students’ character development. A descriptive qualitative method was employed, involving classroom observations, in-depth interviews with the principal and grade 1–2 teachers, and documentation. The findings indicate that entrepreneurial activities have been naturally integrated into classroom practices and positively influence students’ confidence and independence, although the program has not yet been supported by a structured curriculum or formal guidelines. This research contributes to the field of primary education management by demonstrating that simple and developmentally appropriate activities can effectively initiate entrepreneurial habituation when carried out consistently and supported by school management. These results are significant as they offer a practical foundation for developing sustainable models of simple entrepreneurship programs in elementary schools

ABSTRACT The recent theological turn in entrepreneurship research highlights spiritual impact as a likely yet underexplored measure of entrepreneurial success. This outcome reflects the pursuit of higher purposes grounded in a religious identity, which often involves the need to make economic trade-offs to achieve these religious goals. Given the limited empirical research on how entrepreneurs navigate these trade-off decisions, this study explores how entrepreneurs sustain persistence towards religious and economic goals over time. We conduct an inductive qualitative study involving 21 Kenyan ‘pastor entrepreneurs’ engaged in an entrepreneurship training program designed to help them achieve economic goals to sustain household survival and achieve religious goals involving sharing religious beliefs with others. We develop a theoretical model illustrating the actions entrepreneurs take to achieve both sets of goals and the decision-making processes that sustain persistence towards these goals over time. The study provides insight into the psychological effects of spiritual impact beliefs, defined as convictions that one’s efforts have created spiritual value for God, on risk-taking and goal persistence. Altogether, the study advances a theological perspective on entrepreneurial action and decision-making.

Purpose This study aims to address the challenges small businesses face in accessing formal financial services in Pakistan by examining the potential of Fintech solutions. To achieve this, the study collects data from a diverse sample to shed light on the factors influencing Fintech service acceptance. Design/methodology/approach The study employs a deductive approach, collecting data through structured questionnaires from 392 respondents (owners) engaged in small-scale entrepreneurial activities. Structural equation modeling was used to empirically evaluate the proposed model. Findings The findings show significant influence of performance expectancy, effort expectancy, perceived credibility and interface design quality (IDQ) on the behavioral intentions to adopt Fintech solutions. The study also reveals the moderating role of Fintech quality on the relationship between Fintech use variables and behavioral intentions, highlighting the importance of quality perceptions in shaping stakeholders’ attitudes and intentions. Practical implications Policymakers are recommended to enforce Fintech quality standards, incentivize user-friendly and secure platform development, promote training in cybersecurity and support certification programs. These measures will enhance usability, trust and innovation, ultimately boosting Fintech adoption and financial inclusion among small businesses, especially in Pakistan’s informal sector. Originality/value The study integrates “UTAUT2 and Delone and McLean IS Success Models” to propose a novel research framework. The study contributes to the debate in two ways. It introduces an unknown dimension, namely, IDQ. The research unveils the previously unexplored influence of perceived Fintech quality as a variable that moderates the impact of Fintech-related factors on behavioral intention to adopt Fintech services.

Purpose The purpose of this study was to answer the question of how risk aversion affects entrepreneurial learning and tourism business intention among the failed tourism entrepreneurs. Design/methodology/approach The theories of Kolb’s experiential learning (1984) and Mezirow’s transformative learning (1997) have been applied to build the research model. On the basis of objectives of study, 312 questionnaires were collected from failed tourism entrepreneurs. The hypotheses were tested using PLS-SEM. Findings The findings revealed a mediating role of risk aversion between entrepreneurial learning and entrepreneurial intention. Practical implications This study proved that learning from failure can motivate an individual to re-enter entrepreneurship, but high-risk aversion may weaken this effect, thereby discouraging new ventures. Understanding these dynamics helps in developing interventions such as training, mentoring and entrepreneurial activity to reduce risk aversion and support entrepreneurial resilience. Originality/value This study enriches the existing literature and provides a better understanding of how risk aversion affects the relationship between entrepreneurial learning and entrepreneurial intention of failed tourism entrepreneurs. Based on the theories of Kolb’s experiential learning (1984) and Mezirow’s transformative learning (1997), the findings have been validated.

Digital financial inclusion is challenging to achieve, particularly among marginalised groups. SHGs, mostly known as Kudumbashree units in Kerala, play a vital role in empowering women and low-income communities through microfinance and entrepreneurial activities. Digital financial tools have transformed financial transactions, offering convenience, security, and accessibility. This paper explores awareness and adoption of digital financial tools and identifies the benefits and challenges of their use among members of Kudumbashree SHGs. The study's findings offer recommendations for capacity-building initiatives to enhance digital financial inclusion among SHG members, fostering economic empowerment and financial stability.

This study examines how state policies shape rural entrepreneurship in China, focusing on their interaction with informal institutions such as kinship networks. Grounded in governance literature, we empirically examine the interaction between state-led initiatives (i.e. rural welfare systems, transport infrastructure, higher education expansion, and rural financial institutions) and local, informal institutions (specifically, kinship networks) regarding entrepreneurial activities in rural South China. Our results using field data from 83 villages across 11 Chinese provinces reveal that welfare systems and transport infrastructure negatively moderate the influence of informal institutions on entrepreneurial activities, while the effects of state-led rural financial institutions and higher education are insignificant. This study contradicts previous rural governance theories by highlighting tensions between formal policy initiatives and informal institutions, offering empirical insights into local governance transitions. The findings contribute to public administration by revealing how state policies can simultaneously enable and constrain rural entrepreneurship, informing adaptive governance strategies. The results underscore the connection between effective governance and contextual fit and details institutional fit dynamics that should inform future research on rural development.

This study examined the impact of entrepreneurial pursuits on the academic performance of undergraduate students at Obafemi Awolowo University, Ile-Ife, Nigeria. Specifically, the study investigated the level of students’ engagement in entrepreneurial activities, the effect of such engagement on their academic performance, and the challenges encountered in balancing academic and business responsibilities. A descriptive survey research design was used in the study. All undergraduate students from the Faculties of Arts, Administration, Education, and Social Sciences made up the population and a sample of 100 students was selected using a purposive sampling technique. A questionnaire was used to gather the data, which were then analysed using descriptive statistics including means, standard deviations, percentages, and frequencies. The results showed that 78% of the participants were actively involved in business endeavours, primarily in the retail, services, catering, and digital industries. Also, 64% of the students acknowledged that entrepreneurial activities sometimes distracted them from their academic work. A large majority (89%) agreed that entrepreneurship positively complemented their academic and practical skills. The study also found that major challenges like stress, time management issues, and funding constraints are encounter by student entrepreneurs. Despite these challenges, many students maintained average to above-average academic performance, with 55% recording CGPAs above 3.5. The study concluded that entrepreneurship among undergraduates, when strategically managed, can enhance academic performance by developing transferable skills such as discipline, time management, and problem-solving. Based on these findings, it was recommended that university authorities implement flexible academic policies and provide institutional support to assist students in effectively balancing their entrepreneurial and academic responsibilities.

The article highlights certain aspects of developing criteria and indicators for assessing the effectiveness of tax incentives. In a market economy, the activities of any economic entity should be aimed at achieving a positive financial result, which is significantly influenced by tax incentives and preferences. The taxation system must be acceptable to the taxpayer, as this factor directly affects the development of entrepreneurial activity. The systematization of tax incentives and the assessment of their effectiveness allow the state to develop regulatory legal acts on a reasonable basis

As economic globalization accelerates and big data and artificial intelligence dominate our era, enhancing urban entrepreneurship in China has become increasingly vital for national economic development. Policies aimed at improving government internet service capabilities align with this trend, making it crucial to investigate whether such capabilities can elevate urban entrepreneurship.This paper first introduces the conceptualization and measurement of government internet service capacity and urban entrepreneurial activity. It then examines domestic and international theoretical frameworks to analyze the underlying mechanisms through which government internet service levels may enhance urban entrepreneurship. Considering the global economic context and China’s specific economic conditions at the time these policies were introduced, the paper assesses the current state of urban entrepreneurship in Chinese cities.To empirically examine whether government internet service levels can elevate urban entrepreneurship, this study utilizes panel data from 278 Chinese cities spanning 2019-2021 in the era of big data and artificial intelligence. It constructs both a two-fixed-effects model and a mediation effect model to empirically investigate the impact of government internet service capacity on urban entrepreneurship levels.The main findings are as follows: (1) Enhancing local government internet service capabilities significantly and positively impacts urban entrepreneurship levels, with this conclusion remaining robust after stability tests. (2) Local government internet service capabilities primarily elevate urban entrepreneurship levels through the mediating effect of the business environment. (3)Heterogeneity analysis, which categorizes cities by geographical location (central, eastern, and western regions) and smart city status (smart or non-smart), reveals that the positive effect of government internet service capacity on urban entrepreneurship is more pronounced in central and western cities, as well as in non-smart cities. Based on these findings, in the era of big data and artificial intelligence, it is imperative to steadfastly enhance local government internet service capacity. Governments should proactively implement policies that support improvements in the business environment, thereby strengthening the positive role of business environment quality in leveraging internet service capacity to boost entrepreneurship levels.

The article is devoted to a comprehensive consideration of the problem of personal responsibility in the context of the current state of psychological science. The work presents and analyzes the main theoretical approaches to the study of responsibility, its structural and functional characteristics, as well as various interpretations of its essence in psychological literature. Based on the analysis, an updated definition of responsibility was proposed, which goes beyond the traditional understanding and emphasizes its importance as a regulatory mechanism of behavior that affects decision-making, the formation of strategies and the regulation of personal activity in professional activities. The purpose of the study is to identify the specifics of responsibility as a key psychological factor in the success of entrepreneurial activity. Particular attention is paid to the analysis of its relationship with decision-making processes, risk management, planning and achievement of set goals in an uncertain and volatile environment. Theoretical models are considered that allow justifying the impact of responsibility on the effectiveness of entrepreneurial behavior and its significance as a predictor of professional success. The results presented in the article provide a deeper understanding of the role of responsibility in the formation of a competent and strategically thinking entrepreneur, as well as emphasize its importance for the development of self-regulation skills, goal-setting and successful adaptation to the difficult conditions of modern business.

The aim of this research is to examine how intellectual property (IP) protection affects the entrepreneurial activities of ethnic minority youth in Vietnam’s Northern midland and mountainous regions, where access to innovation resources and markets is limited. Based on institutional theory, the resource-based view, and intellectual capital theory, the study develops and tests a conceptual model that considers both direct and indirect effects of IP protection. Survey data were collected from 386 youth-led enterprises, cooperatives, and startups, and Partial Least Squares Structural Equation Modeling (PLS-SEM) was used for analysis. The results indicate that IP protection has a significant positive effect on intellectual capital, entrepreneurial motivation, and innovation capability. However, only intellectual capital and innovation capability positively influence startup outcomes, while entrepreneurial motivation shows no significant effect. In addition, the moderating effects of social network cohesion and local policy support are not confirmed, suggesting a limited role of local interventions. Overall, the findings show that IP protection is effective mainly when it is transformed into knowledge-based resources and innovation capacity. The study recommends increasing IP awareness, simplifying IP registration processes, and strengthening capacity-building programs.

Abstract Rural areas in most of the world are facing a multi-crisis related to climate change, regional inequalities, and increasing political unrest. This calls for rethinking and exploring forms of entrepreneurial action that can engage with these crises. In this conceptual paper, we conduct a Weberian ideal type analysis and suggest that the prevailing ideal types of rural entrepreneurship run the risk of an epistemic fallacy and of inadvertently legitimizing centralizing policies. To address this, we propose a new ideal type of “entrepreneurship for the rural” that highlights the need to engage with issues of spatial justice, which lie at the heart of the conflicts and potentials that constitute the current multi-crisis. The ideal type of “entrepreneurship for the rural” emphasizes institutional and political forms of entrepreneurship that seek to create changes in the structural conditions of regional inequality and spatial patterns of opportunity. Further research into this type of entrepreneurship is recommended.