When Entrepreneurship Feels Possible and Worthwhile: How Beliefs and Support Shape Goal Commitment

What is it about?

This study investigates what drives nascent entrepreneurs’ commitment to their business goals—their determination to invest sustained energy in starting a venture. Using expectancy theory and goal-setting theory, the authors distinguish between two dimensions of motivation: the feasibility of starting a business and the desirability of doing so. They examine how self-efficacy, perceived financial support, personal values, and normative support influence the extent to which aspiring entrepreneurs remain devoted to their start-up objectives. Using survey data from Canadian nascent entrepreneurs, the study shows that self-efficacy and perceived private financial support boost goal commitment by reinforcing confidence and resource access. In contrast, reliance on public financial aid weakens commitment, possibly reducing personal drive. Entrepreneurs who value business creation as a career and feel social approval from their networks also show stronger commitment, suggesting that persistence stems from both self-belief and supportive contexts. These findings highlight that fostering entrepreneurial motivation requires more than financial assistance. Strengthening confidence, promoting private support networks, and building positive social norms toward entrepreneurship can help individuals maintain long-term commitment to their business goals.

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Photo by DISRUPTIVO on Unsplash

Photo by DISRUPTIVO on Unsplash

Why is it important?

This research is unique in integrating expectancy theory and goal-setting theory to clarify how self-efficacy, financial support, personal values, and normative support jointly shape entrepreneurial goal commitment. By distinguishing between feasibility and desirability, it shows how both belief in success and social validation sustain entrepreneurs’ motivation. The study advances understanding of early-stage entrepreneurship by demonstrating that personal confidence and perceived societal approval are essential complements to financial support. The study is particularly timely as governments and educators seek to strengthen entrepreneurial ecosystems. Conducted in Canada, it offers evidence that nurturing psychological and social enablers—alongside access to funding—can build more resilient entrepreneurs. The findings encourage policymakers to prioritize initiatives that promote self-efficacy, celebrate entrepreneurship as a valued career, and engage private financial actors to complement public support systems.