Title: Who cares what the neighbours say: perceived failure intolerance and entrepreneurial intention
Authors: Brock M. Stout; Heather Annulis
Addresses: SolBridge International School of Management, 128, Uam-ro (151-13, Samsung-dong), Dong-gu, Daejeon 34613, South Korea ' The University of Southern Mississippi, 730 E. Beach Blvd., Long Beach MS 39560, USA
Abstract: Communities worldwide are seeking to improve aggregate entrepreneurial intention for local economic growth. This study investigates the potential influence of perceived failure intolerance (PFI) on entrepreneurial intention among potential entrepreneurs in rural environments. Failure intolerance has been mentioned as a possible entrepreneurial intention inhibitor, but less is known about the specific psychological operation of perceived failure intolerance or about why some individuals are less affected. The study also explores the influence of demographic variables and self-efficacy on the ability of potential entrepreneurs to overcome PFI. The synthesis of an anonymous expert panel from four states in the Midwestern US indicates that PFI acts as a necessary filter to screen out individuals not possessing sufficient entrepreneurial mindset, but recommends more encouragement of groups underrepresented in a community's start up base in order to increase overall entrepreneurial momentum.
Keywords: economic development; perceived failure intolerance; PFI; entrepreneurship; failure; regional development; entrepreneurial intention; entrepreneurial culture; social capital; self-efficacy; subjective norms; entrepreneurial mindset; community development; collective self-efficacy.
International Journal of Entrepreneurship and Small Business, 2019 Vol.37 No.4, pp.472 - 491
Received: 11 Oct 2017
Accepted: 13 Oct 2017
Published online: 22 Aug 2019 *