Role models' influence, psychological capital and persistence in entrepreneurship during the Covid-19 pandemic

Abstract

The purpose of the study was to examine the relationship between role models` influence, psychological capital and persistence in entrepreneurship during the Covid-19 pandemic. The objectives of the study were; to examine the relationship between role models` influence and persistence in entrepreneurship, to examine the relationship between role models` influence and psychological capital in entrepreneurship, to examine the relationship between psychological capital and persistence in entrepreneurship, to examine the mediating effect of psychological capital between role models` influence and persistence in entrepreneurship. A cross-sectional survey design was adopted utilizing a sample of 216 entrepreneurs selected using random sampling. Data was collected using a questionnaire. Findings from Pearson`s correlation analysis revealed that role models` influence has a significant positive relationship with persistence of entrepreneurs (r=.19, p <.01), role models` influence has a significant positive relationship with psychological capital (r=.26, P<.01), psychological capital has a significant positive relationship with persistence of entrepreneurs (r=.30, p <.01). There was a need to build networks that can link established and nascent entrepreneurs such that nascent entrepreneurs have adequate access to role models that can help them in their entrepreneurial journey.