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The goal of this study is to identify and validate some selected determinants of early-stage entrepreneurial activity (ESEA) by assessing the impact of entrepreneurial knowledge and skills (EK&S), fear of failure (FoF), the social status of entrepreneurs (SSE) and entrepreneurial intentions (EI) on ESEA.

The study utilised cross-sectional data gathered by the Global Entrepreneurship Monitor (GEM) team from 49 countries, with a total of 162,077 respondents. The data analyses involved correlation, simple regression and path analyses, with a specific focus on testing for mediated and moderated effects. To complement the statistical analyses, fuzzy-set qualitative comparative analysis was also employed.

The path analysis revealed EK&S as primary drivers of EI and ESEA. Also, EK&S moderated the effects of FoF on EI, and the inclusion of EI improved the model significantly. The fuzzy-set qualitative comparative analysis result showed that the presence of EI, EK&S, FoF and SSE were sufficient but not necessary conditions for ESEA.

The tested model demonstrates the importance of EK&S and EI, as well as the need to mitigate the effects of the fear factor in promoting entrepreneurial activity. As such, the support of EK&S programmes seems justifiable.

The findings of this study provide a deeper insight into the intricate relationships that underlie entrepreneurial activity by utilising a combination of data analysis techniques.