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The pursuit of entrepreneurial opportunities is not always successful. On the one hand, entrepreneurial failure offers an invaluable opportunity for entrepreneurs to learn about their ventures and themselves. On the other hand, entrepreneurial failure is associated with substantial financial, psychological, and social costs. When entrepreneurs fail to learn from failure, the potential value of this experience is not fully utilized and these costs will have been incurred in vain. In this chapter, the authors investigate how the stigma of failure exacerbates the various costs of failure, thereby making learning from failure much more difficult. The authors combine an analysis of interviews of 20 entrepreneurs (who had, at the time of interview, experienced failure) with an examination of archival data reflecting the legal and cultural environment around their ventures. The authors find that stigma worsens the entrepreneurs’ experience of failure, hinders their transformation of failure experience, and eventually prevents them from utilizing the lessons learnt from failure in their future entrepreneurial activities. The authors discuss the implications of the findings for the entrepreneurship research and economic policies.

Framed within the theoretical domain of attribution theory, this study aims to investigate the antecedents of experienced regret following an entrepreneur’s business failure (defined as firm discontinuance, closure or bankruptcy) and the impact of regret on personal well-being.

The population of interest was business owners whose businesses had failed within the past five years. The data was collected from 319 failed entrepreneurs using an online survey. Structural equation modelling was used to test the hypotheses presented in this study.

External attribution, including economic uncertainty and contract restrictions, was positively related to feelings of regret. Considering internal attribution, due diligence had a positive effect on regret whereas customer relationship development ability can reduce feelings of regret. Moreover, prevention-focused entrepreneurs were likely to experience higher levels of regret when engaging in extensive consideration in using information. Finally, regret had a detrimental effect on the entrepreneurs’ well-being.

The research provides fresh perspectives on experienced regret, a relatively unexplored emotion in the entrepreneurship literature. In the context of small business operations, the locus of attribution (associated with business failure) is the key influence on learning following failed business attempts.

This study extends current knowledge of regret in the context of entrepreneurial failure, which has a significant catalytic effect on employment and entrepreneurial mobility.

This research sheds light on how emotional responses are derived from an entrepreneur’s self-assessment of their performance and attribution of blame for failure.

The purpose of this paper is to use attribution theory to identify the factors that contribute to the failure of entrepreneurial ventures in Colombia.

The research study upon which this paper is based involved an online survey. A total of 324 Colombian entrepreneurs who had experienced business failure answered this survey. The study included six factors (financial, organizational, marketing, external environment, operational, and human resources) with their respective attributions as well as a personality test and segmentation questions. Two multivariate techniques were used (principal component analysis and a multinomial distribution model) to analyze the results of the survey.

The results showed that the principal attributions of failure for Colombian entrepreneurs were financial and organizational issues, the external environment, and marketing. Specific sub-issues included insufficient income generated to maintain the business, lack of proper financing, problems with the control of the business, as well as legal and economic instability.

These results of this research study are important for the creation and development of policies that promote entrepreneurship in Colombia and other developing countries. The findings may also provide entrepreneurs with an analysis of the attributions that are most frequently associated with failure and related lessons, which could individually and cumulatively increase the probability of success for entrepreneurs who are starting new business ventures.

This study makes an important contribution to the extant entrepreneurship literature by identifying and categorizing factors associated with business failure in Colombia. In developing countries, it is especially important to analyze failure attributions to determine relevant official policy instruments that could promote successful business ventures.

This study aims to investigate and analyze the factors affecting the probable failure of rural entrepreneurs so that the most important factors responsible for failure in the business of small and local entrepreneurs are identified.

The present survey was conducted through the descriptive-analytical method by using a researcher-made questionnaire. The statistical population of the study included 1,641 greenhouse owner entrepreneurs in five rural communities. To clarify the key criteria affecting probable failure of greenhouse businesses, LISREL 8.8 computer software was used and the effects of selected indices on the process of probable failure of entrepreneurs were assessed using stepwise regression in the SPSS computer application environment.

According to the results, individual and managerial skills factors, deterrent financial and legal issues, social barriers and infrastructural issues investigated in this study were of the first to the fourth priorities in clarifying factors affecting probable failure of greenhouse businesses. Considering the intragroup relations in these factors, it could be said that individual and managerial skills factors and infrastructural issues had the highest correlation coefficient which could be attributed to individual and management weaknesses of entrepreneurs in understanding infrastructural issues as the most important parameters to be considered in starting businesses.

So far, few studies analyzed the failure of rural entrepreneurs and evaluated the probable factors affecting it. Thus, the present study is among the earliest instances in the field and its results could be of great benefit to domestic entrepreneurs and similar cases in other countries.

This study investigates the impact of internal expectations, such as fantasy of success and fear of failure and external factors, such as social environment and past experiences, on entrepreneurial choice.

Based on achievement motivation and social cognitive theories, the authors construct hypotheses and use secondary data from the Global Entrepreneurship Monitor (GEM) database and Economic Freedom Index report to empirically test the hypotheses. The authors also use propensity score matching to solve the endogeneity issue and test the robustness.

Internal expectations (fantasy of success and fear of failure) on business outcomes inversely affect entrepreneurial choices, with a vibrant business environment amplifying and past failure experience mitigating these effects.

Due to the economic recession, governments encourage small businesses. Thus, the complexity of individual entrepreneurial motivations and influencing factors necessitate deeper exploration. This study is one of the first research offering insights into entrepreneurial motivations from combined dimensions and providing theoretical support for strategies promoting public entrepreneurship.

The purpose of this study is twofold. Firstly, the authors have conducted a systematic investigation considering the historical pandemic periods (1991–2021) over 30 years to identify critical factors and business failure phenomenon during pandemics to explore “what”, “why” and “how” factors contributing to business failure during the COVID-19 pandemic and secondly identified interlinks of these factors to explain the phenomenon of business failure strategically through various quantitative models.

Firstly, the critical factors were identified through previous literature and systematically reported in accordance with the PRISMA guidelines. To remove any bias in critical factor selection, Delphi method was employed. In the second phase, m-TISM approach was adopted to understand the interrelationships of the factors to develop the hierarchy levels. Lastly, MICMAC analysis was also done to evaluate the driving and dependence powers of the critical factors. For implementation of the stated methodology, expert opinion was collected to assess the critical factors based on their knowledge and experience. A total of seven experts were involved in this study.

Two major takeaways from the results of phase one were that “external environmental changes” was at the highest level and had the highest driving power as well as the lowest dependence power, while “inappropriate marketing techniques” was at the lowest level and had the highest dependence and lowest driving powers.

The ever-developing digital technologies act as a synonym to innovation and are shaping up to be the key to future-proofing any industry. However, before one can move towards developing effective strategies to mitigate any business disruptions, there is a need to assess the causes of business failures in the first place which is a major managerial implication identified through this study.

This paper can be considered as the first few studies to conduct a systematic investigation considering the historical pandemic periods (1991–2021) over 30 years to identify critical factors and business failure phenomenon during pandemics to explore “what”, “why” and “how” factors contributing to business failure during the COVID-19 pandemic and secondly identified interlinks of these factors to explain the phenomenon of business failure strategically through various quantitative models.

The purpose of this study was to examine entrepreneurs’ learning before, during and after entrepreneurial failure and understand the relationship between learning and recovery from failure.

A qualitative multiple case study was carried out based on entrepreneur interviews who have experienced the failure of their businesses.

The study finds that entrepreneurs learn both during the company’s lifespan and post-failure, with distinct types and intensities of learning at different life cycle phases. It highlights the link between learning and emotions during the failure process, revealing entrepreneurs’ limited awareness of their knowledge gaps, particularly during successful business phases, and shows the difference between women and men.

One limitation of this study is that the companies are all located in northern and central Portugal, and the number of entrepreneurs starting new ventures post-failure is limited. Another is a lack of comprehensive measurement of the economic impact, especially on the health of individuals who have experienced the impact of failure. The absence of concrete data hampers understanding and the development of targeted support mechanisms for these individuals.

This study stands out for its unique approach, thoroughly exploring the intricate, profound and significant experiences during a crisis, such as a business failure, from the entrepreneurs’ perspective. It delves into their learning processes before, during and after the failure, providing a comprehensive understanding. This study evidence that significant learning occurs during the operation of the business, and not during or after failure, due to the limitations imposed by the pain and disorientation it causes. Therefore, if recovery does not occur, learning does not happen either. It also highlights the differences between women and men in their learning experiences, adding a new dimension to the research.

The research aims to explore the relationships between the digital capabilities of micro, small and medium enterprises (MSMEs), their participation in global value chains and their adoption of innovative business models. Additionally, the study investigates how the prior experiences of entrepreneurial failure may influence or moderate these relationships.

To address these research objectives, the study draws upon data obtained from the Flash Eurobarometer 486 survey, a comprehensive dataset that explores the challenges faced by 13,197 European MSMEs as they navigate the complexities of growth, the integration of sustainable business models and the incorporation of digital technologies. To test the proposed hypotheses, the research employs multivariate logistic regression analysis.

Digital capabilities are found to be positively associated with business model innovation, while integration into global value chains is linked to a higher likelihood of implementing new business models. Interestingly, entrepreneurial failure did not significantly influence the relationship between digital capabilities and the adoption of new business models. In contrast, entrepreneurial failure significantly moderated the impact of global value chain inclusion on business model innovation, particularly in MSMEs with a history of failure.

This article provides practical guidance to entrepreneurs and companies interested in enhancing their digital strategies and engagement in global value chains, considering the entrepreneurs' business histories.

Many entrepreneurs often struggle with the fear of failure, which can be detrimental to both their business and personal well-being. To better understand the factors that contribute to this fear, the authors conducted research on the impact of various obstacles, such as limited financial resources, risk aversion, stress and hard work avoidance, and prior business failures. Additionally, the authors explored the effects of social capital in mitigating these obstacles and their relationship to fear of failure in entrepreneurship.

The authors conducted a survey with 440 young Iraqi entrepreneurs using non-probabilistic and purposive methods. The survey instrument included multiple measuring scales, which were provided in both English and Arabic. The authors analysed valid responses using structural equation modelling (SEM) with partial least squares (PLS).

The findings show that the fear of failure in entrepreneurship is negatively influenced by factors such as limited financial access, risk aversion, and past business failures. However, aversion to stress and hard work did not have a significant impact. The findings also show that social capital could potentially mitigate these negative factors.

The theoretical and practical implications of this study manifest in revealing the difficulties entrepreneurs encounter in developing countries like Iraq, where entrepreneurship is vital for economic growth. The study's limitations stem from its focus on one country and the use of a single survey method. Future research could use varied methods across multiple countries for a more comprehensive view.

This study sheds light on the factors that are obstacles for entrepreneurs to starting a business in emerging economies like Iraq.

The phenomenon of fear and anxiety can cause a decline in entrepreneurship. However, the validity of this assertion remains debatable, as opportunity-driven entrepreneurs may benefit from elevated uncertainty during a crisis. This study aims to examine entrepreneurial fear of failure and the well-being of opportunity-driven entrepreneurs in their startup stage during the COVID-19 outbreak. Opportunity-driven startups are oriented toward business growth but may need assistance from incubators.

The study used a qualitative method, where ten participants from incubated and non-incubated startups in Indonesia were interviewed. Thematic analysis was conducted using NVivo 12 software to analyze the data.

This study shows that the interviewees subjected to incubation tended to derive motivation from fear of failure. In contrast, nonincubated interviewees showed a propensity to experience fear of failure as repression and inhibition. Furthermore, the study highlights the correlation between entrepreneurial fear of failure and eudaimonic well-being.

This study contributes to the literature with empirical results on fear of failure capturing the essence of entrepreneurial behavior during crises/pandemic in the context of business startups. It provides valuable insights into the policy implications for promoting innovation among startups in specific contexts.