Entrepreneurial Resilience: What Makes Entrepreneur Start Another Business After Failure
Asian Journal of Economics, Business and Accounting · pp. 46–58 · Published 2 Aug 2023
10.9734/ajeba/2023/v23i181057Abstract
An entrepreneur is a person who sets up a business or business, taking on financial risks in the hope of making a profit. This risk may sometimes turn into failure. But those entrepreneurs who are resilient are keen to survive. The word resilience refers to overcoming difficulties and performing better than expected. The purpose of analysing "Entrepreneur's Resilience" is to understand entrepreneurs' desires and motivation to bounce back successfully and to recognize how they rebuild their business enterprise after failure. Resilience theory originated from pressure adjustment in psychotherapy. This theory explains how an individual deals with times of difficulty and how these crises may enhance their ability. It focuses on the struggle and courage an individual shows in times of difficulty. Entrepreneurship research has begun to explore each of these conceptualizations of resilience. Importantly, resilience capabilities have been connected with a greater likelihood of venture survival. Additionally, research has demonstrated that entrepreneurial action may be an important tool individuals use to overcome persistent adversity.
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