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Entrepreneurship & Organization Management

ISSN: 2169-026X

Open Access

Exploring the Impact of Individual Resilience on Entrepreneurial Success

Abstract

Chelsea B Walsh* and Walter McCollum

Research on resilience at an individual-level is underexplored, with even less attention on resilience in the context of entrepreneurs. The researcher explores the impact of individual resilience on entrepreneurial success and presents Social Cognitive Theory (SCT) as a well-suited theoretical framework for this topic. Method: The study is a systematic review conducted using databases (UMGC One Search, ABI/Inform, ProQuest Dissertations & Thesis Global) and the snowball method. Articles included ranged from 2003 to 2020, narrowed to scholarly articles written in English. Results: The results reveal that individual resilience positively impacts entrepreneurial success. Four themes emerged from the gestalt of the 26 articles, (a) there
is a positive relationship between individual resilience and entrepreneurial success, (b) entrepreneurial experience fosters the development of individual resilience,
(c) internal locus of control is a contributor to business success, and (d) resilience and self-efficacy reinforce one another to affect behavior and decision-making.
Conclusions: Individual resilience is a necessary skill entrepreneur’s need to overcome adversity and succeed in uncertain environments.
Limitations: Cultural differences, self-reporting measures, and not incorporating a comprehensive review of the psychometric properties used are limitations of the articles included.
Implications: The research guides entrepreneurs, educators, and policy makers who are trying to increase productive entrepreneurship in a variety of adverse environments.
Originality/Value: The researcher makes a significant contribution to the literature on individual resilience in an entrepreneurial context, helping entrepreneurs to
succeed by improving knowledge of the impact individual resilience has on entrepreneurial success.

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