Entrepreneurial resilience after business failure : process approach

Résumé

Abstract

Starting one’s own venture is risky, especially during the early years when the probability of failure is high. Indeed, risk aversion and fear of failure often hinder the launch of new ventures. Yet, some resilient entrepreneurs manage to bounce back quickly and effectively after experiencing failure.

The objective of this research is to describe the process of the entrepreneur’s reconstruction. A qualitative approach was chosen as the main reference for this work, in addition to combining two complementary techniques: the life story and the critical incident method.

The main results led to a better understanding of the phenomenon of entrepreneurial resilience. The findings suggest that entrepreneurial resilience is primarily influenced by individual factors, attitudes, and perceptions of the entrepreneur rather than by institutional factors. Based on this study, an overview of the entrepreneurial resilience process is presented. The main conclusions highlight that resilience constitutes a dynamic process evolving progressively over time.
Keywords : Failure, entrepreneurial resilience, process, reconstruction