From Decision to Survival—Shifting the Paradigm in Entrepreneurship during the COVID-19 Pandemic

(1) Purpose: The main objective of this research was to determine if and how the COVID-19 pandemic impacted new entrepreneurial opportunities. The study also focused on finding the means of actions that can positively affect the future entrepreneurial field. (2) Methodology: Initially, the literatur...

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Bibliographic Details
Published in:Sustainability 2021-07, Vol.13 (14), p.7674
Main Authors: Lungu, Anca Elena, Bogoslov, Ioana Andreea, Stoica, Eduard Alexandru, Georgescu, Mircea Radu
Format: Article
Language:English
Subjects:
Bibliometrics
Business models
Coronaviruses
COVID-19
Entrepreneurs
Entrepreneurship
Influence
Literature reviews
Medical research
Pandemics
Statistical analysis
Sustainability
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Summary:(1) Purpose: The main objective of this research was to determine if and how the COVID-19 pandemic impacted new entrepreneurial opportunities. The study also focused on finding the means of actions that can positively affect the future entrepreneurial field. (2) Methodology: Initially, the literature review was approached, the complementary evaluation of the researchers’ interest sustaining the timeliness of the analyzed topic. The empirical analysis implied conducting a multiple statistical regression on how the new entrepreneurial opportunities can be affected by relevant variables. (3) Findings: The obtained results highlighted a potential beneficial effect of the COVID-19 pandemic on entrepreneurship, namely determining new entrepreneurial opportunities. The need to consider new directions of action in entrepreneurship was also outlined, the online migration and the adaption to new market configurations being considered essential promoters of change. (4) Practical Implications/Originality/Value: Although existing research focused, to a large extent, on analyzing the COVID-19 pandemic’s effects on entrepreneurship, few of them highlighted a future perspective that would ensure the continuity of entrepreneurial processes in extreme conditions, such as those under study. The present research could contribute to the specialty literature enrichment while serving as guidance to the entrepreneurship practitioners towards the implementation of long-term visions and processes.
ISSN:2071-1050
2071-1050
DOI:10.3390/su13147674