Entrepreneurial resilience in the digital era: The role of entrepreneurial self-efficacy and passion

Abstract

Although digitalization has garnered a growing body of research, our understanding of when and how the adoption of digital technologies leads to more resilient entrepreneurial outcomes is limited. We draw on social cognitive theory to develop a moderated mediation model in which digital technologies indirectly promote entrepreneurial resilience through self-efficacy. We further propose that entrepreneurial passion serves as a key boundary condition that influences the strength of this indirect effect. Using data obtained from 300 SME owners/managers in the UK, the results suggest that entrepreneurial self-efficacy mediates the digitalization-resilience nexus, while entrepreneurial passion moderates this mediated relationship. We contribute to the entrepreneurship literature by highlighting that digitalization alone is insufficient to help entrepreneurs sustain their ventures in challenging conditions. Our results have significant implications for both practitioners and policymakers.