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Book part
Publication date: 17 August 2020

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Entrepreneurial and Small Business Stressors, Experienced Stress, and Well-Being
Type: Book
ISBN: 978-1-83982-397-8

Book part
Publication date: 17 August 2020

Karlijn Massar, Annika Nübold, Robert van Doorn and Karen Schelleman-Offermans

There is an abundance of empirical evidence on the positive effects of employment – and the detrimental effects of unemployment – on individuals’ psychological and physical health…

Abstract

There is an abundance of empirical evidence on the positive effects of employment – and the detrimental effects of unemployment – on individuals’ psychological and physical health and well-being. In this chapter, the authors explore whether and how self-employment or entrepreneurship could be a solution for individuals’ (re)entry to the job market and which (psychological) variables enhance the likelihood of entrepreneurial success. Specifically, the authors first focus on unemployment and its detrimental effects for health and wellbeing, and outline the existing interventions aimed at assisting reemployment and combating the negative consequences of unemployment for individuals’ well-being. Then, the authors will explore entrepreneurship as a potential solution to unemployment and explore the psychological variables that enhance the likelihood of entrepreneurial success. One of the variables the authors highlight as particularly relevant for self-employment is the second-order construct of Psychological Capital (PsyCap; Luthans, Avolio, Avey, & Norman, 2007), as well as its individual components – hope, optimism, efficacy, and resilience. PsyCap is a malleable construct that can be successfully trained, and PsyCap interventions are inherently strength-based and have positive effects on employees’ and entrepreneurs’ performance and wellbeing. Therefore, the authors end the chapter by suggesting that a PsyCap component in existing education and training programs for entrepreneurship is likely to not only increase entrepreneurial intentions and success, but also increases participants’ well-being, self-esteem, and the general confidence they can pick up the reigns and take back control over their (professional) lives.

Details

Entrepreneurial and Small Business Stressors, Experienced Stress, and Well-Being
Type: Book
ISBN: 978-1-83982-397-8

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