research topics on entrepreneurship education

ORIGINAL RESEARCH article

How entrepreneurship education at universities influences entrepreneurial intention: mediating effect based on entrepreneurial competence.

• 1 Institute of China Innovation and Entrepreneurship Education, Wenzhou Medical University, Wenzhou, China
• 2 College of Humanities, Zhejiang Normal University, Jinhua, China
• 3 School of Education, Peking University, Beijing, China

Research shows that entrepreneurial activities significantly promote economic development, which enhances the importance of the innovative entrepreneurial potential of college students. This study analyzes the effect of entrepreneurship education on entrepreneurial intention from the perspective of planned behavior theory. By examining the significant role of entrepreneurship education at colleges and universities on economic and social development, we established a conceptual model. To understand the relationship between entrepreneurship education and entrepreneurial intention, the hypotheses propose the intermediary role of entrepreneurial ability, and the study provides evidence from China the relationship between entrepreneurship education and entrepreneurial intention. Improving entrepreneurial intention and encouraging college students to establish businesses through entrepreneurship education in universities is crucial. This study proposes a hypothetical model of the relationship between entrepreneurial competence and entrepreneurial intention in entrepreneurship education at universities. Using a questionnaire survey of college students with practical experience in the Yangtze River Delta of China, the bootstrap method in the SPSS macro program process software verifies the hypotheses. The results show that entrepreneurial teaching, business plan competition, and entrepreneurial practice support positively affect entrepreneurial competence. In addition, entrepreneurial competence plays an intermediary role in the relationship between entrepreneurial teaching, business plan competition, entrepreneurship practice support, and entrepreneurial intention. Entrepreneurship education improves the ability to establish a business in the present and in entrepreneurial activities in the future. Entrepreneurial competence obtained through entrepreneurship education continuously affects entrepreneurial intention.

Introduction

With increasing downward economic pressure, providing sustained impetus and new vitality for economic development is essential ( Raposo and Paço, 2011 ). Entrepreneurial activities promote social and economic development in multiple ways, as they increase individuals' incomes, create more jobs, and stimulate the innovative vitality of society. The level of entrepreneurial activity depends on the number of entrepreneurs available, and the higher the number of entrepreneurs, the more active entrepreneurial activity will be ( Gerba, 2012 ). A large number of literature on entrepreneurship recognizes the contribution of entrepreneurs to national economic growth and development ( Gerba, 2012 ; Schoon and Duckworth, 2012 ). An increase in the number of entrepreneurs can help the country's economy by creating jobs and reducing unemployment ( Nabi and Holden, 2013 ). So how can we increase the number of entrepreneurs? Some scholars believe that entrepreneurs can be created by cultivating entrepreneurial qualities such as entrepreneurial knowledge, attitudes, and skills through education and encouragement of creativity ( Otache, 2019 ). Public policy planners and government agencies worldwide recognized entrepreneurship education as a means to encourage social innovation ( Jones and Iredale, 2014 ). Entrepreneurship education provides students with foundational knowledge and stimulates entrepreneurial thinking ( Gibb et al., 2012 ). So who can be educated to be an entrepreneur easier? Entrepreneurs are the foundation of a country's economy. To make a country's economy strong, the focus should be on the young generation ( Hameed and Irfan, 2019 ). College students with the highest potential for innovation and entrepreneurship are expected, as they have the ability to learn independently, and cultivating the spirit of innovation and entrepreneurship is easy, college students can become involved in innovation and entrepreneurial activities easier. Students who receive entrepreneurship education have higher entrepreneurial intentions ( Walter and Block, 2016 ).

With the development of society, more and more countries have realized the importance of entrepreneurship education. There is growing interest in how education can enhance entrepreneurship by encouraging innovation ( Fayolle and Gailly, 2015 ). The Chinese government dvocates “mass entrepreneurship and innovation” and vigorously promote entrepreneurial policies to encourage college students to start businesses. To respond to national policies, universities have successively established entrepreneurship education programs, which are crucial in promoting students' self-employment that improves entrepreneurial competence and enhances entrepreneurial intention. According to the Employment Survey Report of Chinese College Students by the Max Research Institute, the rate at which college students were starting businesses 6 months after graduation was higher in the Pan-Yangtze River Delta region than in other regions from 2014 to 2016. Furthermore, college students start businesses more vigorously, which has certain research value. The Outline of the Regional Integration Development Plan for the Yangtze River Delta, issued by the Central Committee and the State Council in December 2019, states that, “jointly creating a favorable environment for employment and entrepreneurship. we will implement targeted programs and plans to help key groups such as college graduates, migrant workers and ex-servicemen find jobs and start their own businesses.” Therefore, to explore the mechanisms and factors influencing the self-employment of college graduates in the Yangtze River Delta region with strong innovation vitality has particular practical value and provides Chinese experience as an example for other countries, especially developing countries.

Entrepreneurship education has developed rapidly since first proposed. Current studies confirm that entrepreneurship education actively promotes entrepreneurial intention ( Piperopoulos and Dimov, 2015 ; Walter and Block, 2016 ) and improves entrepreneurial competence ( Jiang et al., 2017 ; Byun et al., 2018 ). Some scholars have suggested that entrepreneurship education is the main driving force for improving the development of entrepreneurial ability ( Draycott and Rae, 2011 ) and believe that entrepreneurship education can influence and improve entrepreneurial competence. However, few studies consider the mediating role of entrepreneurial competence in entrepreneurial education and entrepreneurial intention. Although some scholars have suggested that business plan competitions and entrepreneurial practice projects can improve entrepreneurial ability, stimulate entrepreneurial consciousness, and enhance entrepreneurial willingness ( Zhang et al., 2014 ), this is supported through theoretical construction and has not been proven by experience. Therefore, based on 5,603 samples in this study, we explore the specific influence path of entrepreneurial education and entrepreneurial competence on entrepreneurial intention. This study analyzes the influence of entrepreneurship education on entrepreneurial intention from the perspective of planned behavior theory. From discussing the role of entrepreneurship education in colleges and universities on economic and social development, a conceptual model was established. This study proposes hypotheses to understand the relationship between entrepreneurial ability as an intermediary and entrepreneurial intention, and we provide evidence, in the Chinese context, for the relationship between entrepreneurial education and entrepreneurial intention.

The contents of this study include four aspects. First, based on behavioral planning theory, we review the literature and propose hypotheses for testing. Second, we use regression analysis based on the data to verify the hypotheses. Third, we analyze and discuss the results of the empirical analysis and propose theoretical contributions and practical significance based on the results. Fourth, we summarize the study, along with limitations, and suggest future research opportunities.

Theoretical Background And Hypothesis Development

Theory of planned behavior.

To better understand entrepreneurial intention, this study is based on the framework of the theory of planned behavior. The theory of planned behavior is a psychological theory that focuses on attitudes, subjective norms, and perceived behavior control, which help us understand the intention of individual behaviors ( Ajzen, 1991 ). Ajzen (2005) proposes that, when the likelihood of success is high, individuals will pay more attention to their intentions.

In the context of entrepreneurship education, this theory is helpful in analyzing the process of entrepreneurial behavior. As the goal of entrepreneurship education is not necessarily that all participants start a business in the short term, we do not use entrepreneurial behavior as a predictor. To promote entrepreneurship among college students, it is necessary to ensure that college students have high entrepreneurial intention. This study employs the premise of the theory of planned behavior to use intention as a substitute for behavior, which is a relevant tool for understanding the development of entrepreneurial intention through entrepreneurship education. Since the acquisition of knowledge can change behavior, entrepreneurial intent can be influenced by learning outcomes. Learning different behaviors that change attitudes will affect entrepreneurial intentions ( Ferreira et al., 2017 ). Entrepreneurship education can change an individual's ability (including entrepreneurial knowledge, skills, and spirit) to change the intentions related to entrepreneurship. Particularly among young people, education influences attitudes toward entrepreneurship ( Batanero et al., 2016 ).

Effect of Entrepreneurship Education on Entrepreneurial Intention in Universities

Entrepreneurship education emerged abroad in the 1980s and the 1990s. In 1989, the United Nations Educational, Scientific, and Cultural Organization (UNESCO) held an international symposium on Education for the twenty-first century, in which Colin put forward the concept of entrepreneurship education, namely, career ambition and pioneering skills education. Entrepreneurship is a comprehensive concept that is not only a mere creation business, but also a way of life and thinking for students ( Kuratko, 2005 ). It can be understood that entrepreneurship education not only means teaching students to set up enterprises, but also, more importantly, cultivating students' initiative and innovation. John Dewey, an American pragmatic educator, in his book Democracy and Education written in 1916, divided the types of entrepreneurial education courses into disciplinary courses and activity courses. Ginanjar (2016) defines entrepreneurship education as an entrepreneurship education course offered by universities that teaches the theory and practice of entrepreneurship. Benson (2004) discussed teaching methods, compared simulation and contingency-based empirical theory, and proposed that entrepreneurship education should form a system with its own characteristics instead of simply introducing standard and conventional teaching methods.

Teaching methods for entrepreneurship education are not static, but dynamic, and may change with the constant use of social media as part of the learning experience ( Chawinga, 2017 ). Ratten and Usmanij (2021) argue that entrepreneurship education is an experiential learning that needs to be embedded with key learning objectives in the curriculum to increase student engagement, and that a hybrid learning approach such as case studies and business plan competitions is needed. Neck and Greene (2011) believe that entrepreneurship is a way of thinking and behaving, and entrepreneurship courses, different from other theoretical courses, need to apply practice in course content, such as carrying out competitions, simulating entrepreneurship, and reflective practice. On this basis, entrepreneurship education in universities is divided into three dimensions: entrepreneurial teaching, business plan competition, and entrepreneurial practice support.

Intention is considered to be an important factor in choosing a future career ( Franco et al., 2010 ). Especially when it comes to explaining a decision to start a new business, entrepreneurial intent plays an important role, a mindset that directs people's attention or action toward a particular behavior ( Ferreira et al., 2012 ). Shapero and Sokol (1982) argue that intentions are determined by feasibility, intentionality, and the propensity to act. According to the theory of planned behavior, a person's entrepreneurial intention is a function of one's positive attitude, favorable subjective norms, and positive perceived behavioral control for entrepreneurial behavior. According to Ginanjar (2016) the purpose of entrepreneurship education is to equip students with the ability to understand and practice entrepreneurship, and causes changes in attitudes, norms, and behaviors.

Entrepreneurship education is the process of teaching students entrepreneurial, which involves identifying viable business opportunities and turn them into successful commercial ventures ( Matlay et al., 2012 ). Entrepreneurship education plays a key role in cultivating students' intentions ( Anwar and Saleem, 2019 ). Empirical research by Kaya et al. (2019) proves that both entrepreneurial support and self-management-related skill teaching increase the possibility of future entrepreneurial activities, which reinforces the necessity of establishing entrepreneurship education courses in universities. Shirokova et al. (2017) empirically conclude that courses, extracurricular activities, and financial support related to University entrepreneurship have different effects on the propensity of experienced and inexperienced entrepreneurs and that these effects influence each other and are carried out simultaneously. Morris et al. (2017) , applying the concept of embeddedness, assesses the influence of the University entrepreneurship environment on college students' entrepreneurial activities. The results show (1) a positive correlation between college students who participated in courses related to entrepreneurship and participation in entrepreneurial activity; (2) that extracurricular activities and student University funding were negatively correlated with entrepreneurial activity; and (3) a negative relationship between financial support and entrepreneurial activity. On the basis of the theory of planned behavior.

First, entrepreneurship teaching is the most basic aspect of entrepreneurship education. When students had little knowledge about entrepreneurship, entrepreneurship courses had a significant effect on their entrepreneurial intention. A randomized study of 3,775 students who graduated from 1985 to 2009 found that taking two or more entrepreneurship courses had a positive impact on students' entrepreneurial intentions and their ability to become actual entrepreneurs, both at graduation and well after graduation (10 years or more). However, some scholars have found that, although entrepreneurship teaching improves students' knowledge and ability, students' entrepreneurial intention is not necessarily improved in this way.

Second, entrepreneurship is a complex social activity that requires a higher practical ability. The effectiveness and value of experiential learning is practically beyond debate in entrepreneurial education ( Mandel and Noyes, 2016 ). Gibb (2011) argues that development of the entrepreneurial mindset requires learning by doing, conversion of knowledge into problem-solving methods. As an aspect of experiential learning, business plan competition can let students know the real situation of entrepreneurship and promote entrepreneurial intention. However, current entrepreneurship competitions are formalized, and increasingly, organizers and participants are more concerned with the arena, scale, and number of prizes, which increases the gap between the entrepreneurial process perceived by students and the real-world entrepreneurial situation ( Chun-Yan et al., 2017 ). After students have a clear and practical understanding of the preparation required for real entrepreneurship, they lose overoptimistic attitudes toward entrepreneurship and interests dampen ( Oosterbeek et al., 2010 ).

Third, Entrepreneurial practice support is a very important incentive measure. In the early stage of entrepreneurship, students are in lack of space, resources and funds, etc., so government and schools should provide support, such as setting up venture funds to provide certain financial support for entrepreneurial students, or even providing free space to help students find resources ( Zhao and Zhao, 2021 ). This will increase the success rate of entrepreneurship and make students willing to start business. In addition, professional guidance on entrepreneurship reduces the obstacles for students to start a business, making it easier to start a business.

This study proposes the following:

Hypothesis 1 (H1) . Entrepreneurship education in universities has a positive impact on entrepreneurial intention .

Hypothesis 1a (H1a) . Entrepreneurial teaching has a positive impact on entrepreneurial intention .

Hypothesis 1b (H1b) . Business plan competitions have a positive impact on entrepreneurial intention .

Hypothesis 1c (H1c) . Entrepreneurial practice support has a positive impact on entrepreneurial intention .

Mediating Effect of Entrepreneurial Competence on the Influence Mechanism of Entrepreneurship Education on Entrepreneurial Intention in Universities

Scholars agree that entrepreneurship is a key driver of the economy. Uku and Marge (2017) argued that society is improved not only by entrepreneurship but by entrepreneurial individuals with knowledge, attitudes, and skills to identify and exploit opportunities, create value, and orient toward action. Generally, competence is the ability to successfully solve problems of reality, challenges, and opportunities ( Barth et al., 2007 ). In the last decade, core competence has become a pillar of education development in the European Union. The March 2002 progress report defined core competencies as “representing a set of knowledge, skills, and attitudes.” As part of the core competencies, entrepreneurial competence is defined as “the ability to take action on opportunities and ideas and turn them into value for others.” According to Pittaway and Cope (2007) , entrepreneurial competence includes initiative, creativity, innovation, and the ability to take risks, as well as the ability to plan and manage projects. In the face of increasing complexity and uncertainty, entrepreneurial competence provides the attitude, skills, and knowledge that enable an individual to identify opportunities, solve problems, and develop them sustainably. Therefore, this study argues that the entrepreneurial competence of college students includes both entrepreneurial skills and entrepreneurial knowledge and spirit.

A review of the literature reveals that entrepreneurial ability is influenced by learning and educational processes. Rideout and Gray (2013) believe that entrepreneurship education in universities is a comprehensive and practical educational activity that imparts entrepreneurial knowledge and trains students' entrepreneurial consciousness, strategic choice, opportunity identification, and other abilities. Liñán et al. (2011 ) emphasizes that entrepreneurship education has been considered a key instrument for increasing the entrepreneurial attitudes of potential and nascent entrepreneurs. The essence of entrepreneurship education is to cultivate students' entrepreneurial consciousness, thinking, and skills ( Jones and English, 2004 ). Solesvik (2013) believe that entrepreneurship education promotes the improvement of students' entrepreneurial competence. However, most entrepreneurship education professors focus on entrepreneurship, and students learn to understand entrepreneurship mainly from theoretical perspectives ( Lackéus, 2015 ). From a narrowly defined perspective, students are supported as entrepreneurs. From a broad perspective, entrepreneurship education encourages students to be innovative and proactive, enabling them to acquire entrepreneurial ability and take entrepreneurial actions. Since the narrow definition of entrepreneurship education is commonly used, the success of entrepreneurship education is generally measured by the intention of students or the number of students who start businesses ( Lackéus, 2015 ). Such studies do not explain what role entrepreneurial competence has on entrepreneurial education and entrepreneurial intention. However, entrepreneurship education based on the cultivation of entrepreneurial ability has a crucial influence on whether students start a business ( Uku and Marge, 2017 ).

Entrepreneurship education teaches theoretical knowledge and shares successful experiences, which cultivate students' entrepreneurial competence and growth. However, the business plan competition methodology can cultivate the ability of entrepreneurs and is a valuable learning experience in the pursuit of new skills. Furthermore, it can motivate participants to improve abilities and self-confidence ( Watson et al., 2018 ). The cultivation of practical ability is essential in improving students' comprehensive competence and fostering an innovative spirit. Students participating in entrepreneurship competitions obtain direct experience, making entrepreneurship projects easier in the future. A school's entrepreneurship practice provides office space, facilities, and equipment, as well as venture funds, so that students' ideas can flourish, and entrepreneurship can be realized. Using a cross-sectional sample of 496 German scientists, Obschonka et al. (2010) finds a correlation between early entrepreneurial ability and entrepreneurial intention. Applying the structural equation model to study the influence of college students' entrepreneurial intention, Peng et al. (2012) verify that entrepreneurial attitude, entrepreneurial self-efficacy, and entrepreneurial competence have significant direct or indirect influences on entrepreneurial intention. Through empirical tests, Hu and Xu (2015) concludes that entrepreneurial attitude and knowledge have a significant impact on entrepreneurial intention, while entrepreneurial competence does not have a significant impact on entrepreneurial intention. Therefore, this study proposes the following:

Hypothesis 2 (H2) . Entrepreneurial competence has a mediating effect on the mechanism by which entrepreneurship education in universities influences entrepreneurial intention .

Hypothesis 2a (H2a) . Entrepreneurial competence has a mediating effect on the influence mechanism of entrepreneurial teaching on entrepreneurial intention .

Hypothesis 2b (H2b) . Entrepreneurial competence mediates the influence of business plan competition on entrepreneurial intention .

Hypothesis 2c (H2c) . Entrepreneurial competence has a mediating effect on the influence of entrepreneurial practice support on entrepreneurial intention .

Figure 1 illustrates the theoretical model of this study.

Figure 1 . Theoretical model.

Research Methods And Data Analysis

Sample and procedure.

This study uses data from a 2017 to 2018 questionnaire survey conducted by the China Innovation and Entrepreneurship Education Research Institute for undergraduate students (except freshmen from 2018). The questionnaire uses a comprehensive design based on the literature of domestic and foreign periodicals, a comparative analysis of various existing questionnaires on innovation and entrepreneurship education, and an in-depth semi-structured interview analysis by several experienced teachers of entrepreneurship education.

Data were collected from students through alumni WeChat groups, student classes, and emails in the Yangtze River Delta urban agglomeration. We collected 5,603 effective questionnaires from students with practical experience. Respondents included individuals from 13 majors; of these 46.2% were female and 53.8% male, and 92.84% were from non-double-top universities. College students with practical experience can more accurately understand the impact of entrepreneurship teaching, business competition, and entrepreneurial practice support on their entrepreneurial intentions, which enhances the accuracy of this study. The basic information of the sample is shown in Table 1 .

Table 1 . Descriptive statistics ( N = 5,603).

Entrepreneurship teaching follows the questionnaire developed by Hosseini and Pouratashi (2011) and Wiley and Berry (2015) , and we measure three indicators on a 5-point scale: “There are various types of entrepreneurship education courses,” “teachers have entrepreneurial experience,” and “the contents of entrepreneurship courses are closely combined with their professional knowledge” (1 = strongly disagree; 5 = strongly agree). The reliability of α is 0.898.

The business plan competition follows the content of Bolli and Woerter (2013) and Falck and Woessmann (2013) , and we measure three indicators on a 5-point scale: “Business plan competitions improve entrepreneurial confidence,” “business plan competitions expand interpersonal networks,” and “business plan competition improves teamwork ability” (1 = strongly disagree; 5 = strongly agree). The reliability of α is 0.938.

Entrepreneurship practice support follows Greefs (1998) , Zou and Zhao (2014) , and Huang et al. (2020) and we measure four indicators on a 5-point scale: “Entrepreneurial practice is supported by a special entrepreneurial fund,” “the school provides integrated entrepreneurial practice services,” “entrepreneurial practice has a special off-campus practice base,” and “entrepreneurial practice projects are highly integrated with professional learning” (1 = strongly disagree; 5 = strongly agree). The reliability of α is 0.943.

Entrepreneurial competence follows Uku and Marge (2017) and Pittaway and Cope (2007) , and we measure three indicators on a 5-point scale: “Entrepreneurship education helps to enrich entrepreneurial knowledge,” “entrepreneurship education helps to cultivate innovative spirit,” and “entrepreneurship education helps to improve entrepreneurial skills” (1 = strongly disagree; 5 = strongly agree). The reliability of α is 0.958.

Indicators of entrepreneurial intention follow Díaz-García and Jiménez-Moreno (2010 ) and Zhang et al. (2014) , and we measure one indicator on a 5-point scale: “I will start a business in the next year” (1 = strongly disagree; 5 = strongly agree).

In selecting control variables, studies have found that graduates of social sciences, natural sciences, medicine, and education from prestigious universities are significantly different from graduates of other universities in their choice of entrepreneurship ( Daghbashyan and Hârsman, 2014 ). Research has found that the entrepreneurial intention of science and engineering universities has a significant impact on entrepreneurship education ( Souitaris et al., 2007 ; Zhang et al., 2014 ), and scholars have studied the influence of MBA courses on students' entrepreneurial intention ( Zhao et al., 2005 ). Therefore, we select double first-class universities, medicine, education, science, engineering, management, and economics as control variables.

Reliability and Validity Test

First, we tested overall reliability and validity. The α-value of the scale was 0.943, the Kaiser-Meyer-Olkin (KMO) value was 0.930, the α-value was ≥0.7, and the KMO-value was >0.5, indicating good reliability and validity of the overall scale. Second, we tested the reliability and validity of each factor. The results in Table 2 show that all factors passed the internal consistency test (α-value ≥0.7), indicating that the reliability of each factor scale is good. The KMO and Bartlett sphere test results of each factor show that all variables pass the Bartlett sphere test (KMO-value >0.5), which met the factor analysis standard. The results of the exploratory factor analysis show that the factor load of each item after rotation was >0.6, the combined reliability (CR) of all factors was >0.7, and the Average variance extracted (AVE) value of each factor was >0.5, indicating good convergent validity of the scale. Third, we calculated the square roots and correlation coefficients of AVE-values of each factor ( Table 3 ), and the results show that each factor scale had good discriminant validity.

Table 2 . Reliability and validity of each factor.

Table 3 . Correlation coefficient matrix between the square root of the AVE-value and factors.

Common Method Deviation Test and Multicollinearity Test

This study used the Harman single factor test to test the deviation of common methods. The results show that, without rotation, the first factor explains 49.80% of the variation in all items, which is <50%. The results show that the degree of fit was not good (RMSEA = 0.179, CFI = 0.857, GFL = 0.643, AGFI = 0.513, IFI = 0.857, NFI = 0.857), which indicates that the problem of homology method of data used in this study was controlled. The fitting degree of the five-factor model used in this study was good (RMSEA = 0.055, CFI = 0.988, GFL = 0.969, AGFI = 0.952, IFI = 0.988, NFI = 0.987), and the common variance test (CMV) found that the fitting statistics of the model did not change significantly (RMSEA = 0.054, CFI = 0.989, GFL = 0.972, AGFI = 0.954, IFI = 0.989, NFI = 0.989). The homology method of data used in this study is controlled and the model used has good fit degree. In addition, the variance inflation factor values (VIF) among the factors are all <10, indicating no serious multicollinearity problem.

Hypothesis Testing

Descriptive statistics and correlation analysis of each variable.

Correlation analysis was performed between the total average scores of ET, BPC, EPS, EC, and EI. The results ( Table 3 ) show that EI was significantly positively correlated with ET, BPC, EPS, and EC, which, in turn, was positively correlated with ET, BPC, and EPS, and the hypothesis was preliminarily verified.

Mediation Model Testing

This study sets ET, BPC, and EPS as independent variables; EC as an intermediary variable; EI as the dependent variable; and double first-class universities medicine, education, science, engineering, management, and economics as control variables. This study uses the inspection theory put forward by the above model, and the results are shown in Tables 4 – 6 . This study uses the bootstrap of SPSS macro software, and PROCESS software. We tested the mediating effect by repeating the sampling 5,000 times and calculating at the 95% confidence interval ( Jie et al., 2012 ).

Table 4 . The mediating effect of ET as independent variable was analyzed.

Table 4 shows that X1 entrepreneurship teaching can significantly positively influence M: entrepreneurial competence (A 1x1 = 0.6641, 95%CI = 0.6471 – 0.6811), and M: entrepreneurial competence can also significantly positively influence Y: entrepreneurial intention (B 1x1 = 0.8913, 95%CI = 0.8759–0.9066). When M: entrepreneurial competence is added into the model, X1: entrepreneurial teaching can significantly positively influence Y: entrepreneurial intention (C ' 1X1 = 0.0707, 95%CI = 0.0565–0.0850). Hence, M: entrepreneurial competence plays a partial intermediary role between X1: entrepreneurial teaching and Y: entrepreneurial intention.

Table 5 shows that X2 business plan competition can significantly positively influence M: entrepreneurial competence (A 1X2 = 0.8276, 95%CI = 0.8132 – 0.8421), and M: entrepreneurial competence can significantly positively influence Y: entrepreneurial intention (B 1X2 = 0.8331, 95%CI = 0.8139 – 0.8523). When M: entrepreneurial competence is added into the model, X2 business plan competition has a significantly positive influence on Y: entrepreneurial intention (C ' 1X2 = 0.1345, 95%CI = 0.1154 – 0.1536). Hence, M: entrepreneurial competence plays a partial mediating role between X2 business plan competition and Y: entrepreneurial intention.

Table 5 . Moderated mediating effect analysis with BPC as independent variable.

Table 6 shows that X3 entrepreneurial practice support can significantly positively influence M: entrepreneurial competence (a1X3 = 0.7624, 95%CI = 0.7476 – 0.7771), and M: entrepreneurial competence can significantly positively influence Y: entrepreneurial intention (b 1X3 0.8557, 95%CI = 0.8377 – 0.8737). When M: entrepreneurial competence is added into the model, X3 entrepreneurial practice support has a significantly positive influence on Y: entrepreneurial intention (c ' 1X3 = 0.1059, 95%CI = 0.0889 – 0.1229). Hence, M: entrepreneurial competence plays a partial mediating role between X3 entrepreneurial practice support and Y: entrepreneurial intention.

Table 6 . Moderated mediating effect analysis with EPS as independent variable.

This study analyzes the influence of three aspects of entrepreneurship education on entrepreneurial intention and reveals the mediating role of entrepreneurial competence in this process. The main conclusions include the following. Entrepreneurship teaching, business plan competition, and entrepreneurial practice support have a positive impact on entrepreneurial intention. Entrepreneurial competence plays an intermediary role in entrepreneurship teaching, business plan competition, entrepreneurship practice support, and entrepreneurship intention.

Theoretical Implications

First of all, the theoretical significance of this study is to confirm the three elements of entrepreneurship education, respectively: relationship between entrepreneurial teaching, business plan competition, entrepreneurial practice support, and entrepreneurial intention. The results show that entrepreneurship teachers' guidance, entrepreneurial practical support, and students' participation in business plan competition can improve the entrepreneurial intention of universities. This is contrary to the research conclusion of Chen et al. (2015) : “Students who have received entrepreneurship education really understand that starting a business is not an easy thing, so entrepreneurship has not been improved immediately.” Although entrepreneurship is an activity of high risk and high uncertainty, entrepreneurship education can improve the knowledge and ability of potential entrepreneurs, increase their entrepreneurial self-efficacy, and thus improve their entrepreneurial intention.

Secondly, the mediation model of entrepreneurial education, entrepreneurial competence and entrepreneurial intention is established. The results show that entrepreneurship education can not only directly promote the entrepreneurial intention of college students, but also indirectly promote the entrepreneurial competence of college students. This paper clarifies the role of entrepreneurial education in improving college students' entrepreneurial intention by improving their entrepreneurial competence, and emphasizes the partial mediating role of entrepreneurial competence. This model not only improves the theory of the relationship between entrepreneurial intention and antecedent variables, but also can be used to evaluate the impact of entrepreneurial education on entrepreneurial intention and career development of Chinese college students. It has a certain theoretical guiding significance for college students to promote entrepreneurship education.

Finally, this study is based on the theory of planned behavior and develops the theory of planned behavior. The conclusions of this study extend the work of Fayolle and Gailly (2015) , who show that entrepreneurship education programs reduce students' intentions to initially consider an entrepreneurial career. This study finds that entrepreneurship education promotes the entrepreneurial intention of students with practical experience. This study provides new insights regarding the role of entrepreneurship education and entrepreneurial intentions of college students. This study and model can be used to assess the impact of entrepreneurial teaching, business plan competition, and entrepreneurial practice support on entrepreneurial intention among college students.

Practical Implications

Regarding the entrepreneurial intention of college students, entrepreneurial education should aim to improve entrepreneurial competence, and even if students have no intention of starting a business at present, entrepreneurial education can lay a foundation for the future. Luis-Rico et al. (2020) shows that the cultivation of entrepreneurial competence has an impact on entrepreneurial intention, and education and curriculum reform must promote the development of entrepreneurial ability at all stages of education to improve entrepreneurial intention. Some scholars find that the ability to start a business in early adolescence has a positive impact on the entrepreneurial process and can promote multiple cases of entrepreneurship for an individual's career ( Obschonka et al., 2011 ). Therefore, strengthening entrepreneurship education and cultivating entrepreneurial competence encourages college students to start businesses in the future.

First, entrepreneurship teaching can be divided into teachers and courses. Regarding teachers, universities should consider the development of entrepreneurship teachers. In particular, they should strengthen innovation and entrepreneurship training for tutors and other student teachers. Some incentives could be adopted. Universities should actively recruit entrepreneurs or successful graduates to hold special lectures and courses on a regular basis to better guide entrepreneurial practices for students. Regarding courses, some scholars suggest enacting methodological and strategic changes in education, such as avoiding excessive use of theory-based methods, encouraging action-based learning and direct participation, and developing independent learning to promote the development of entrepreneurial competence ( Arranz et al., 2017 ). Universities should refine curricula to build a complete system of entrepreneurship education courses.

Second, the majority of students agree that business plan competitions are helpful. Through the business plan competition, college students learn entrepreneurial knowledge, obtain entrepreneurial practice, enhance entrepreneurial confidence, and strengthen entrepreneurial spirit. Simultaneously, participation in competitions can expand interpersonal relationships and encourage like-minded business partnerships. The focus and purpose of the competitions should be to help participants obtain the required skills, knowledge, motivation, and funding resources to solve complex issues involved in business. Through this, they are able to learn how to create and maintain enterprises. Therefore, the design of this type of competition requires further optimization. For example, business plan competitions should ensure that all participants provide timely feedback to assess the weak areas of business plans for improvement, which will help them both in the competition and perhaps to continue the business in the future ( Cant, 2018 ). Business plan competitions should provide a reasonable competition mode as well as have a fair platform. Furthermore, the participation and support of various sectors of society should be paramount.

Third, in terms of entrepreneurial practice support, an increase in convenient access to support and services provided by colleges and universities, such as capital, locations, guidance, and training, increases the number of students who will develop an understanding of entrepreneurial activities and decrease worries about entrepreneurship in the future. This conclusion is similar to De-peng and Bao-shan (2017) , where tax incentives, the entrepreneurial environment, and supporting measures have a positive impact on entrepreneurial intention. Therefore, universities should strengthen cooperation between the government and enterprises. Furthermore, the support provided by the government can help a start-up enterprise survive, which will attract more college students to join the entrepreneurial team.

Limitations and Future Research Recommendations

First, this study adopted a cross-sectional design, and the data only represents the situation of college students' entrepreneurship education during a certain time. Additionally, the study only selected the topics of entrepreneurship education for college students. Most of the research variables are subjective evaluations; therefore, it is difficult to completely avoid the deviation caused by subjective opinions. Future research can expand entrepreneurship education in more aspects, which can be discussed from a global perspective. Additionally, future research could track the relationship between variables involved in some entrepreneurs at different time points, conduct research on gender differentiation, or expand the study the optimization of entrepreneurship education for college students.

Second, existing studies on the influence of entrepreneurship education on entrepreneurial intention are based on the development of already developed Western countries. Entrepreneurial educators should adjust curricula in view of cultural differences in learning ( Bandera et al., 2018 ). The growing emphasis on entrepreneurship education in Asia, especially China, and the increasing number of students participating in business plan competitions allow students to focus on skills that can be applied to business practices in home countries. Considering the particularity of culture and society, the implementation of entrepreneurship education should combine local culture and national conditions.

Finally, the current social and business environment is dynamic, and with the progress of technology, the way people teach and learn changes. Entrepreneurship education should incorporate innovative technologies, such as digital technology and AI. Within an existing digital ecosystem, education should provide more free online courses and services on educational issues ( Gunkel, 2017 ). The role of social media in entrepreneurship courses is noteworthy ( Wu and Song, 2019 ). These innovative technologies and models can provide greater space for entrepreneurship education in the future.

Entrepreneurship education has a significant impact on entrepreneurial intention. To promote economic development, more countries have introduced policies and measures to strengthen entrepreneurship education, among which entrepreneurship education in universities is vital. However, society is improved by both entrepreneurship and individuals with entrepreneurial ability. Scholars and practitioners should understand entrepreneurship beyond the narrow sense (starting a business) into the broad sense (recognizing and solving problems, identifying opportunities, and creating value in society). Therefore, entrepreneurial competence is an essential focus. Hence, we can continue to create value for society, continue entrepreneurship, and promote economic development in an increasingly complex and uncertain society.

Data Availability Statement

The original contributions presented in the study are included in the article/supplementary material, further inquiries can be directed to the corresponding author/s.

Ethics Statement

Ethical review and approval was not required for the study on human participants in accordance with the local legislation and institutional requirements. Written informed consent from the (patients/participants or patients/participants legal guardian/next of kin) was not required to participate in this study in accordance with the national legislation and the institutional requirements.

Author Contributions

YH and YC described and developed the review and the hypothesis. YH, YL, LH, JW, LA, XH, and TC was involved in the data collection process. YH and YS performed the analysis, interpretation of the results, and formulated the main conclusions. YC and YL formulated the study limitations and future directions for research. All authors helped editing, formatting the paper, and contributed equally to this paper.

This article was funded by the Key projects of the National Social Science Fund in China, No. 18ASH009 (Research on entrepreneurship Policy Environment and Its Optimization for College Students in the New Era).

Conflict of Interest

The authors declare that the research was conducted in the absence of any commercial or financial relationships that could be construed as a potential conflict of interest.

Acknowledgments

We appreciate all the help offered by the Zhejiang province philosophy social science key research base (Institute of innovation and entrepreneurship education, Wenzhou Medical University) project results (Grant Number: 20JDZD043) and Wenzhou Oujiang Young Scholars Special Project (Grant Number: 20QN06).

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Keywords: entrepreneurship education, entrepreneurial competence, entrepreneurial intention, entrepreneurship teaching, entrepreneurship practice support, business plan competition

Citation: Lv Y, Chen Y, Sha Y, Wang J, An L, Chen T, Huang X, Huang Y and Huang L (2021) How Entrepreneurship Education at Universities Influences Entrepreneurial Intention: Mediating Effect Based on Entrepreneurial Competence. Front. Psychol. 12:655868. doi: 10.3389/fpsyg.2021.655868

Received: 19 January 2021; Accepted: 07 June 2021; Published: 06 July 2021.

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Copyright © 2021 Lv, Chen, Sha, Wang, An, Chen, Huang, Huang and Huang. This is an open-access article distributed under the terms of the Creative Commons Attribution License (CC BY) . The use, distribution or reproduction in other forums is permitted, provided the original author(s) and the copyright owner(s) are credited and that the original publication in this journal is cited, in accordance with accepted academic practice. No use, distribution or reproduction is permitted which does not comply with these terms.

*Correspondence: Yingying Chen, 136174908@qq.com ; Xiang Huang, y.huang1807@hotmail.com ; Yangjie Huang, hyj77777@126.com ; Leilei Huang, 406869162@qq.com

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Planning and evaluating youth entrepreneurship education programs in schools: a systematic literature review

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• Published: 02 March 2023
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• Jingjing Lin   ORCID: orcid.org/0000-0002-4846-6817 1 ,
• Jiayin Qin   ORCID: orcid.org/0000-0001-8336-8959 2 ,
• Thomas Lyons   ORCID: orcid.org/0000-0002-4757-4146 3 &
• Tomoki Sekiguchi   ORCID: orcid.org/0000-0003-4522-5249 4  

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Despite its importance, entrepreneurship education in upper secondary education is significantly less researched than in higher education. Many entrepreneurship education review studies are conducted at the university level, while relatively few are conducted at the high school level. Existing reviews favored discussing programs’ impacts and outcomes over its designing, developing, and delivering. Adapting well-established processes described in multiple entrepreneurship education reviews, we systematically identified and synthesized thirty-year literature on entrepreneurship education in upper secondary schools using academic database search, expert consulting, and backward snowballing techniques. Results led to the development of the Youth Entrepreneurship Education Planning and Evaluation (or YEEPE) conceptual framework, which offers holistic details to the program planning and evaluating processes at pre-university levels. In addition to informing evidence-based practices, the YEEPE framework is intended to assist education researchers in positioning their research, identifying research opportunities, and elucidating their contributions to both the youth development and entrepreneurship education literature. Further research is encouraged to utilize YEEPE as a starting point for integrating other pertinent research or as a design tool to facilitate the development of entrepreneurship education programs in schools.

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Lin, J., Qin, J., Lyons, T. et al. Planning and evaluating youth entrepreneurship education programs in schools: a systematic literature review. Entrep Educ 6 , 25–44 (2023). https://doi.org/10.1007/s41959-023-00092-4

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30 Great Entrepreneurship Research Topics

Pursuing independent research builds critical thinking skills, problem identification and solving skills, academic writing ability, and a solid grounding in innovative thinking. If you’re able to identify a relevant problem and pursue research into an original, feasible solution, then you can add tremendous value to both your profile and the world of research overall , while at the same time demonstrating your intellectual curiosity and methodical approach.

If you’re interested in pursuing research specifically in the world of entrepreneurship, taking a different tack from the myriad of pre-college programs and summer courses available, then we’ve compiled a list of 25+ research topics for you in this blog post .

Topic 1: Technological Innovations in Entrepreneurship

Entrepreneurs stand at the forefront of technological advancements reshaping the business landscape. If you’re keen on the cutting edge of innovation, dive deep into the realms of AI, Virtual Reality, and Blockchain technology. By exploring these avenues, you can uncover groundbreaking business applications, from enhancing customer experiences to securing financial transactions. Some great topics to consider include:

1. AI and Machine Learning Applications in Business: Explore how businesses are utilizing AI and machine learning to enhance operations, customer experiences, and innovation.

2. Virtual Reality (VR) in Marketing: Investigate the potential of VR in creating immersive marketing experiences and their impact on consumer behavior.

3. Blockchain Technology in Financial Transactions: Research the role of blockchain technology in securing financial transactions and its implications for the banking sector.

Topic 2: Sustainable Entrepreneurship

As the world takes climate change and dwindling resources more seriously, you have the opportunity to foster business models that prioritize environmental sustainability, much like the economic research topics focusing on the climate crisis and environmental policies. Delve into green business initiatives, waste management solutions, and renewable energy ventures, fostering a harmonious relationship between entrepreneurship and the environment . Your research could potentially spearhead a generation of entrepreneurs who are environmentally conscious and responsible. Some topics you could consider include:

4. Green Business Models: Analyze the effectiveness of green business models in promoting environmental sustainability.

5. Waste Management Startups: Study the emergence of startups focusing on innovative waste management solutions.

6. Renewable Energy Ventures: Explore the potential of renewable energy ventures in mitigating climate change and their economic viability.

Ideas contributed by a Lumiere Mentor from the University of Michigan.

Topic 3: Social Entrepreneurship

If social justice is a subject important to you, then you can consider researching business models that address pressing social issues and foster community development. Drawing inspiration from inclusive and community-centric approaches seen in economics research topics, you can explore social impact startups, inclusive business models, and community-based entrepreneurship. Here are some ideas to get you started:

7. Social Impact Startups: Investigate the role of startups in addressing social issues and their impact on communities.

8. Inclusive Business Models: Research the effectiveness of inclusive business models in promoting social equality and economic development.

9. Community-Based Entrepreneurship: Study the role of community-based entrepreneurship in fostering local development and social cohesion.

Ideas contributed by Lumiere Mentors from UPenn, University of Washington, and Princeton University.

Topic 4: Entrepreneurial Leadership and Management

Adept leadership is often the crucial difference between soaring success and abject failure in the cutthroat world of entrepreneurship. You can explore diverse leadership styles, agile management practices, and crisis management strategies of different leaders across firms and sectors . Some possible topics include:

10. Leadership Styles in Startups: Analyze different leadership styles and their effectiveness in the startup environment.

11. Agile Management in Entrepreneurship: Investigate the adoption of agile management practices in entrepreneurship and its impact on business agility.

12. Crisis Management in Small Businesses: Study the strategies adopted by small businesses to manage crises and ensure business continuity.

Ideas contributed by Lumiere Mentors from Cornell and the University of Michigan.

Topic 5: Entrepreneurial Finance

If you want to explore the financial backbones of the startup world, you can investigate crowdfunding platforms, venture capital investments, and overall financial literacy . Your research can help foster a generation of entrepreneurs who are financially savvy and adept at securing funding for their ventures. Here are some ideas to get you started:

13. Crowdfunding in Startups: Explore the role of crowdfunding platforms in supporting startups and the factors influencing crowdfunding success.

14. Venture Capital and Startup Growth: Investigate the relationship between venture capital investment and startup growth.

15. Financial Literacy among Entrepreneurs: Study the level of financial literacy among entrepreneurs and its impact on business success.

Topic 6: Innovation and Creativity in Entrepreneurship

Resonating with the exploratory nature of physics and computer science research, y ou can explore innovation ecosystems, design thinking approaches, and creative problem-solving techniques. While innovation and creativity are important for all businesses, they are particularly critical for entrepreneurial efforts. You can start with topics like these:

16. Innovation Ecosystems in Business: Analyze the role of innovation ecosystems in fostering creativity and innovation in businesses.

17. Design Thinking in Entrepreneurship: Investigate the adoption of design thinking approaches in entrepreneurship and its impact on product development.

18. Creative Problem-Solving in Business: Study the role of creative problem-solving techniques in addressing business challenges and fostering innovation.

Topic 7: Global Entrepreneurship

As you step into the expansive world of global entrepreneurship, you are invited to explore the opportunities and challenges associated with international business ventures. You can investigate cross-border entrepreneurship, global supply chain management, and cultural intelligence. Your research can help identify and solve the challenges affecting international business operations and the cultural mores required to keep global businesses running. Here are some ideas for you to explore:

19. Diplomacy and Entrepreneurship: Research the impact of geopolitics and diplomatic relations on international businesses and how businesses can mitigate the impact of trade wars on their operations.

20. Global Supply Chain Management: Investigate the strategies adopted by businesses to manage global supply chains effectively.

21. Cultural Intelligence in International Business: Study the role of cultural intelligence in facilitating successful international business operations.

Topic 8: Entrepreneurial Education

Entrepreneurship is by and large a skill that can be taught, and you have the opportunity to delve into the effectiveness of entrepreneurship education programs, experiential learning approaches, and entrepreneurial skill development. Here are some initial ideas:

22. Entrepreneurship Education in High Schools: Analyze the effectiveness of entrepreneurship education programs in high schools in fostering an entrepreneurial mindset.

23. Experiential Learning in Entrepreneurship: Investigate the role of experiential learning approaches in entrepreneurship education.

24. Entrepreneurial Skill Development: Study the strategies adopted by educational institutions to foster entrepreneurial skill development among students.

Topic 9: Women in Entrepreneurship

Echoing the gender studies perspective seen in economics research, you can delve into success factors for women entrepreneurs, challenges faced by women in business, and initiatives promoting women's participation in the tech sector. Some topics you can start exploring are:

25. Challenges Faced by Women Entrepreneurs: Investigate the challenges faced by women entrepreneurs and the strategies adopted to overcome them.

26. Women Entrepreneurs in Developing Nations: Research how women build and lead businesses in developing nations and their unique perspectives and contributions to their respective fields.

27. Contributions by Women in Entrepreneurial Leadership: Study the role of women specifically in leadership roles in startups and the resultant impact on firm performance and growth.

Topic 10: Youth Entrepreneurship

To research something that might be close to your own journey, you can explore the role of youth entrepreneurship in economic development, support systems for young entrepreneurs, and the relationship between youth entrepreneurship and innovation . A few topics to help get you started:

28. Youth Entrepreneurship and Economic Development: Analyze the role of youth entrepreneurship in promoting economic development.

29. Support Systems for Young Entrepreneurs: Investigate the support systems available for young entrepreneurs and their effectiveness in fostering youth entrepreneurship.

30. Youth Entrepreneurship and Innovation: Study the relationship between youth entrepreneurship and innovation, and the factors influencing young entrepreneurs' propensity to innovate.

If you’re looking for an incubator program that helps you establish a developed startup in high school, consider the Young Founders Lab! 

The   Young Founder’s Lab   is a real-world start-up bootcamp founded and run by Harvard entrepreneurs. In this program, you will work towards building a revenue-generating start-up that addresses a real-world problem.   You will also have the opportunity to be mentored by established entrepreneurs and professionals from Google, Microsoft, and X. 

You can access the application link   here !

One more option - Lumiere Research Scholar Program

If you’re looking for the opportunity to do in-depth research on the above topics and more, you could also consider applying to one of the Lumiere Research Scholar Programs , selective online high school programs for students I founded with researchers at Harvard and Oxford. Last year, we had over 4000 students apply for 500 spots in the program! You can find the application form here.

Stephen is one of the founders of Lumiere and a Harvard College graduate. He founded Lumiere as a PhD student at Harvard Business School. Lumiere is a selective research program where students work 1-1 with a research mentor to develop an independent research paper.

Image Source: Lumiere logo

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• Open access
• Published: 27 May 2024

Knowledge creates value: the role of financial literacy in entrepreneurial behavior

• Shulin Xu 1 &
• Kangqi Jiang 2  

Humanities and Social Sciences Communications volume  11 , Article number:  679 ( 2024 ) Cite this article

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Under the backdrop of economic globalization and the digital economy, entrepreneurial behavior has emerged not only as a focal point of management research but also as an urgent topic within the domain of family finance. This paper scrutinizes the ramifications of financial literacy on household entrepreneurial behavior utilizing data from China’s sample of the China Household Finance Survey spanning the years 2015 and 2017. Employing the ordered Probit model, we pursue our research objectives. Our findings suggest that financial literacy exerts immediate, persistent, and evolving positive effects on households’ engagement in entrepreneurial activities and their proclivity toward entrepreneurship. Through the mitigation of endogeneity in the regression model, the outcomes of the two-stage regression corroborate the primary regression results. An examination of heterogeneity unveils noteworthy disparities between urban and rural areas, as well as gender discrepancies, in how financial literacy influences household entrepreneurial behavior. Furthermore, this study validates three potential pathways—namely income, social network, and risk attitude channels—demonstrating that financial literacy significantly augments household income, expands social networks, and enhances risk attitudes. Moreover, through supplementary analysis, we ascertain that financial education amplifies the impact of financial literacy on entrepreneurial behavior. Our study contributes to the enrichment of human capital theory and modern entrepreneurship theory. It advocates for robust efforts by governments and financial institutions to widely disseminate financial knowledge and foster family entrepreneurship, thereby fostering the robust and stable operation of both the global financial market and the job market.

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Introduction.

With the advancement of the global digital economy, entrepreneurship has increasingly emerged as a pivotal strategy for corporate strategic development (Cheng et al., 2024 ) and for the accumulation of residents’ wealth. Entrepreneurial behavior entails the optimization and integration of one’s own resources to generate substantial economic or social value. Individuals are expected to possess organizational and managerial abilities and to deliberate upon and determine the operational strategies for services, technologies, and equipment to engage in rational entrepreneurial endeavors (Levesque and Minniti, 2006 ). Entrepreneurial activities play a crucial role in fostering labor market prosperity, achieving social equity, enhancing the flow of social capital, and sustaining the healthy and stable functioning of the social economy (Hombert et al., 2020 ; Schmitz, 1989 ). They also hold promise for alleviating the current economic crisis through the exploitation of renewable energy sources (Abou Houran, 2023 ) and enhancing firm productivity (Tao et al., 2023 ). According to human capital theory, as posited by Becker ( 2009 ), human capital encompasses the cumulative knowledge, skills, cultural sophistication, and health status of an individual. Financial literacy, as a form of scarce human capital, constitutes a significant driver of entrepreneurial decision-making and motivation. On the one hand, the migration of individuals possessing high financial literacy fosters the transfer of theoretical knowledge and technical expertise, while the symbiotic interaction of knowledge, skills, and capabilities nurtures a reservoir of knowledge and entrepreneurial dynamism. On the other hand, individuals with elevated financial literacy are more likely to enhance their awareness and identification of opportunities within an imbalanced market, thereby bolstering their self-awareness and catalyzing independent innovation and entrepreneurship. Moreover, in line with modern entrepreneurship theory, Alvarez and Busenitz ( 2001 ) contend that entrepreneurial opportunities are endogenous. Entrepreneurs equipped with the requisite skills and knowledge pertaining to entrepreneurship are better positioned to identify and exploit opportunities. Additionally, they possess extensive and efficacious social networks, enabling them to access valuable information and resources conducive to enhancing entrepreneurial performance. Against the backdrop of economic globalization and the digital economy, governments worldwide are actively encouraging entrepreneurial engagement. They have enacted financial support policies and preferential tax measures to enhance the domestic entrepreneurial ecosystem and to galvanize individuals’ entrepreneurial potential. For instance, the Chinese government introduced numerous policies aimed at fostering entrepreneurial endeavors in 2018. Similarly, the U.S. government is proactively implementing several initiatives to foster an environment conducive to the flourishing of small and medium-sized enterprises, striving to institute permanent tax relief measures for small businesses.

However, the enhancement of the entrepreneurial environment can engender a proliferation of entrepreneurial opportunities (Segaf, 2023 ). Yet, the ability of entrepreneurs to seize such opportunities for proactive entrepreneurship remains constrained by numerous factors, including the development of the digital economy (Sussan and Acs, 2017 ; Firmansyah et al., 2023 ; Zhao and Weng, 2024 ), social networks (Karlan, 2007 ; Qi and Chun, 2017 ), human capital (Dawson et al., 2014 ), risk attitudes (Osman, 2014 ), government regulations (Black and Strahan, 2002 ), institutional environments (Burtch et al., 2018 ; Lan et al., 2018 ), institutional changes within universities (Eesley et al., 2016 ), financial constraints (Hurst and Lusardi, 2004 ; Asongu et al., 2020 ), policy interventions (Sharipov and Zaynuidinova, 2020 ), cognitive abilities (Haynie et al., 2012 ), personal beliefs regarding character and opportunity (Pidduck et al., 2023 ), household background, income levels, and trust (Kwon and Arenius, 2010 ). Entrepreneurial activities entail the identification and exploitation of entrepreneurial opportunities and the utilization of entrepreneurial resources. These endeavors invariably entail considerations of business management, financial matters, and professional concerns. Entrepreneurs must possess adequate financial literacy to ensure the rationality of entrepreneurial decision-making, the judicious allocation of entrepreneurial resources, the mitigation of venture capital risks, and the effective operation of enterprises. Drawing from a review of international experiences, scholars predominantly emphasize macroeconomic environments (Arin et al., 2015 ), institutional frameworks, cultural disparities (Liang et al., 2018 ), credit constraints (Ma et al., 2018 ), liquidity constraints (Beck et al., 2018 ), as well as micro-level factors such as social networks (Yueh, 2009 ), and information availability (Companys and McMullen, 2007 ), when examining the determinants of entrepreneurial activities.

From a current static perspective, existing studies indicate a close association between financial literacy and a range of financial behaviors and economic outcomes. A wealth of evidence demonstrates that financial literacy fosters household income growth (Behrman et al., 2012 ), facilitates the expansion of social networks (Kinnan and Townsend, 2012 ; Suresh, 2024 ), and enhances residents’ risk attitudes (Mishra, 2018 ), all of which can also impact entrepreneurial behavior. Thus, we posit that financial literacy may influence household entrepreneurial activities through three primary channels. Firstly, prior research has affirmed that higher levels of financial literacy correlate with enhanced information acquisition and processing abilities, leading to more informed decision-making (Forbes and Kara, 2010 ; Molina-García et al., 2023 ), fostering healthier and more rational investment philosophies and habits. These factors, in turn, contribute to improved investment returns and elevated household income levels. Household entrepreneurial activities necessitate sufficient financial support for use as entrepreneurial funds, and throughout the entrepreneurial process, a continuous stream of funds is required for operational and managerial purposes. Household wealth and income serve as the principal resources for family entrepreneurship, indispensable for entrepreneurial endeavors.

Secondly, studies by Korkmaz et al. ( 2021 ), Mishra ( 2018 ), and Mushafiq et al. ( 2023 ) reveal that heightened levels of financial literacy correlate with an increased likelihood of risk-taking or risk-neutrality and diminished tendencies toward risk aversion. This indicates that enhancing financial literacy significantly bolsters individuals’ risk appetites and reduces risk aversion. Entrepreneurship inherently entails risk-taking behavior and a willingness to embark on new ventures. Therefore, risk attitudes are intricately linked to entrepreneurial behavior. Research by Van Praag and Cramer ( 2001 ), as well as Long et al. ( 2023 ), spanning a 41-year study of 5800 Danish students, illustrates significant disparities in entrepreneurial willingness among individuals with varying risk preferences, with risk-conscious individuals exhibiting stronger inclinations towards entrepreneurship. Thirdly, Hong et al. ( 2004 ) and Chen et al. ( 2023 ) posit that financial literacy may proliferate through word-of-mouth or observational learning methods, thereby expanding social network structures. Social networks, as a distinct form of family capital alongside physical and human capital, facilitate risk-sharing (Munshi and Rosenzweig, 2016 ) and augment the likelihood of accessing formal or informal financing (Kinnan and Townsend, 2012 ). It is widely acknowledged that family entrepreneurial activities, to some extent, depend on the support offered by family members, relatives, and friends in terms of information, financing, and business operations and management (Munshi and Rosenzweig, 2016 ). Consequently, broader family social networks correlate with heightened probabilities of choosing entrepreneurship. Financial literacy can effectively mitigate information asymmetry in financial markets by enhancing family social networks, reducing monitoring costs and risky borrowing, and addressing adverse selection and moral hazard issues, thereby alleviating financing constraints and fostering family entrepreneurial activities.

The aforementioned analysis offers insights into the impact of financial literacy on household entrepreneurial activities. Nevertheless, a pivotal inquiry remains: can financial literacy effectively bolster the likelihood of family entrepreneurial choices and entrepreneurial motivation in the long term, thereby dynamically enhancing family entrepreneurial behavior? Furthermore, the urban–rural dichotomy and gender disparities in financial literacy prevalent in numerous countries may introduce variations in the current, long-term, and dynamic effects of financial literacy on residents’ entrepreneurial behavior. This prompts us to explore the existence of such disparities and whether the mechanisms underlying these differences are mediated through income, social networks, and risk attitudes. To address these gaps in the literature and elucidate the raised questions, we propose to establish a robust empirical framework. This framework will enable us to examine how financial literacy influences local households’ entrepreneurial behavior. Figure 1 illustrates our theoretical framework, delineating how financial literacy impacts household entrepreneurial activities through three primary channels.

Theoretical design and framework.

This study empirically examines the immediate, long-term, and evolving impacts of financial literacy on household entrepreneurial activities using data from the China Household Finance Survey (CHFS) for the years 2015 and 2017. We employ the ordered Probit model to fulfill our research objectives. The findings indicate that financial literacy exerts immediate, enduring, and evolving positive effects on households’ involvement in entrepreneurial activities and their propensity toward entrepreneurship. Accounting for the endogeneity of the regression model, the results from the two-stage regression reinforce the primary regression outcomes. Heterogeneity analysis reveals significant urban–rural disparities and gender differences in the influence of financial literacy on household entrepreneurial behavior. Additionally, this research substantiates three potential pathways: income, social network, and risk attitude channels. It demonstrates that financial literacy significantly enhances household income, expands social networks, and improves risk attitudes. Further analysis reveals that financial education amplifies the impact of financial literacy on entrepreneurial behavior.

Our contributions are multifaceted: Firstly, this study advances the understanding of entrepreneurial behavior in several dimensions. Previous research primarily focuses on factors influencing entrepreneurial behavior, such as social networks (Karlan, 2007 ), human capital (Dawson et al., 2014 ), risk attitudes (Osman, 2014 ), government regulation (Black and Strahan, 2002 ), institutional environments (Lu and Tao, 2010 ), financial constraints (Hurst and Lusardi, 2004 ), cognitive ability (Haynie et al., 2012 ), household background, and trust (Kwon and Arenius, 2010 ). Few studies delve into the influence of financial literacy on entrepreneurial behaviors. We address this gap and find that financial literacy positively impacts entrepreneurial behaviors. Secondly, we measure entrepreneurial behavior at the family level, including initiative entrepreneurship in the household finance domain, thereby expanding the existing literature beyond the use of new ventures as a measurement indicator. Most importantly, our study contributes to the enrichment of human capital theory and entrepreneurship theory within the realm of household finance, providing valuable insights into the theoretical understanding of the relationship between financial literacy and entrepreneurial behavior. Thirdly, in mechanism analysis, our study is the first to investigate the three channels through which financial literacy affects household entrepreneurial behavior using CHFS data from 2015 and 2017. Lastly, our study conducts heterogeneity analysis and presents evidence of significant urban-rural disparities and gender heterogeneity in the impact of financial literacy on household entrepreneurial behavior. Furthermore, this research enhances the comprehension of the relationship between financial literacy and financial behavior. While prior studies predominantly focus on the immediate effect of financial literacy on financial behavior, our study delves deeper. We not only explore the immediate impact of financial literacy on entrepreneurial behavior but also probe into its long-term and dynamic improvement characteristics, elucidating the internal mechanisms driving these effects. For policymakers, our research provides a theoretical foundation and empirical validation to formulate entrepreneurship policies. By comprehensively understanding how financial literacy influences household entrepreneurial behavior and acknowledging the heterogeneous effects across urban–rural divides and gender disparities, governments can tailor policies to effectively support and promote entrepreneurship, thereby fostering economic growth and development. Based on the conclusions of this study, governments can fully consider residents’ financial literacy and enhance various influencing channels while encouraging innovation and entrepreneurship, thereby facilitating wealth accumulation, enhancing family welfare, and elevating the national level of innovation and entrepreneurship in entrepreneurial activities. For businesses, our research underscores the pivotal role of financial literacy in entrepreneurial activities, constituting an indispensable aspect of “entrepreneurship.” In the actual operation and management processes of enterprises, managers should prioritize the cultivation of financial literacy, as it can aid in cost reduction and the expansion of social networks, thereby realizing the healthy and stable operation of enterprises.

In the rest of this paper, the section “Literature review” reviews the relevant literature. Section “Methodology” outlines the empirical model and introduces the variables and datasets. Section “Empirical results” describes and discusses the empirical results. Section “Heterogeneity analysis” reports a heterogeneous analysis in geography, gender and income level. The section “Potential mechanism analysis” and “Further analysis: the role of financial education” discusses three channels and analyses. Section “Conclusion” concludes and policy implications.

Literature review

Factors affecting financial literacy.

The financial literacy level of respondents is primarily influenced by both micro and macro environments. Concerning microelements, empirical evidence provided by Lusardi and Mitchell ( 2014 ) suggests that men tend to exhibit higher financial literacy levels than women, largely due to women’s perceived lack of self-confidence. Notably, only elderly women demonstrate high levels of self-assurance, alongside robust investment motivation and financial management interest (Bucher‐Koenen et al., 2017 ). Furthermore, Van Rooij et al. ( 2011 ) contend that age and financial literacy follow a hump-shaped distribution pattern, indicating that young individuals under 15 and seniors over 60 typically exhibit the lowest levels of financial literacy, while the middle-aged group tends to have the highest level. The accumulation of social experience serves to enhance the financial literacy level of the middle-aged demographic (Fong et al., 2021 ; Gamble et al., 2015 ). Moreover, Lusardi et al. ( 2012 ) found a positive correlation between the number of years of education and financial literacy, implying that higher levels of education contribute to the advancement of financial literacy.

The influence of macro-elements on financial literacy permeates various facets, shaping the financial knowledge and skills of young individuals through diverse formal and informal channels such as families, schools, communities, and workplaces (Grohmann et al., 2015 ). Lusardi et al. ( 2010 ) elucidated a direct correlation between the financial literacy of young individuals and the educational level and financial behavior of their parents. Moreover, Lachance ( 2014 ) uncovered that the educational level of neighbors also impacts children’s financial literacy. Danes and Haberman ( 2007 ) observed that while short-term financial literacy education and training exert some effect, direct parental education remains a more potent influencer of children’s financial literacy. Furthermore, parents’ active involvement in financial education and training programs contributes significantly to shaping children’s financial literacy. However, the literature presents mixed findings regarding the efficacy of financial education initiatives. Mandell ( 2008 ) found no enduring effects of financial education in high school on personal financial behavior, whereas Fernandes et al. ( 2014 ) suggested that financial literacy education has a limited impact, with its effectiveness waning over time. Conversely, Bruhn et al. ( 2013 ) and Lührmann et al. ( 2015 ) argued that financial education substantially enhances high school students' financial literacy. Moreover, Song ( 2020 ) conducted a field experiment in China, demonstrating that short-term financial education projects can effectively elevate financial literacy levels, thereby improving financial behavior among individuals with low financial literacy. Regarding social security mechanisms, extant literature indicates that improvements in social security significantly correlate with enhancements in residents’ financial literacy (Lusardi and Mitchell, 2011 ). Additionally, the social milieu plays a pivotal role, with countries experiencing high inflation rates and communities characterized by a high level of financial literacy, transparent banking policies, and frequent interactions with financially literate groups positively influencing individuals’ financial literacy levels (Lachance, 2014 ; Lusardi and Mitchell, 2011 ).

With the rapid proliferation of digital technology in the economic sphere, digitization has emerged as a ubiquitous topic of discussion among scholars (Chen and Jiang, 2024 ; Koskelainen et al., 2023 ; Jiang et al., 2024 ). The digitization of conventional financial industries and the entry of internet companies have catalyzed the growth of the digital finance sector (Jiang et al., 2022 ). Pertinent literature delves into the relationship between the advancement of digital finance and financial literacy (Prete, 2022 ; Yang et al., 2023 ). For instance, Yang et al. ( 2023 ), utilizing data from the China Household Finance Survey, found that financial literacy significantly fosters individuals’ engagement in digital finance, with this effect displaying notable heterogeneity. Drawing from cross-national data, Prete ( 2022 ) observed that the utilization of digital payment tools and platforms correlates with elevated levels of financial literacy. Koskelainen et al. ( 2023 ) endeavored to explore how varied aspects of digitization, encompassing digital financial behaviors, digital interventions, and financial technology, influence individuals’ financial literacy. Furthermore, they propose methodologies for constructing a metric of digital financial literacy.

Entrepreneurial behavior

Existing research concentrates on the determinants of entrepreneurial behavior, encompassing both macroelements and microelements. Macroelements comprise the economic environment, institutional framework, cultural disparities, credit and liquidity constraints, social networks, and information environment.

Economic development stimulates market demand for entrepreneurs and fosters entrepreneurial activities (Arin et al., 2015 ; AlOmari, 2024 ). Zhao and Weng ( 2024 ) observed that the advancement of the digital economy enhances urban innovation activities. Utilizing cross-cultural entrepreneurial cognition models, Lim et al. ( 2010 ) validated the impact of institutions on entrepreneurial activities. A nation’s formal institutions can dictate its level of economic freedom, influencing households’ entrepreneurial motivations and the types of entrepreneurial ventures pursued (McMullen et al., 2008 ; Kshetri, 2023 ). Asoni and Sanandaji ( 2014 ) demonstrated that proportional taxes do not significantly affect entrepreneurial activities, whereas progressive taxes notably boost entrepreneurship. Dong et al. ( 2022 ) revealed that local leadership turnover may serve as a barrier to entrepreneurship. Additionally, the environment for protecting private property rights is intertwined with entrepreneurial activities (Levine and Rubinstein, 2017 ; Hou et al., 2023 ). The deregulation of bank branches has intensified competition within the banking sector while greatly enhancing credit accessibility, thereby promoting household entrepreneurship (Black and Strahan, 2002 ). In terms of cultural disparities, Mora ( 2013 ) posited that such differences lead to variations in entrepreneurial ideas and behavioral tendencies, with entrepreneurial activities more likely to flourish in a cultural milieu characterized by low uncertainty, fostering independent thinking, valuing wealth, and eschewing conformity (Lee et al., 2020 ). Freytag and Thurik ( 2007 ), drawing upon data from European and American countries, concluded that culture exerts a positive and significant impact on entrepreneurial preferences but does not significantly influence actual entrepreneurial activities.

The primary challenge encountered by entrepreneurial endeavors is liquidity constraints (Banerjee and Newman, 1993 ; Ma et al., 2018 ). Banerjee and Newman ( 1993 ) contend that financial support in the form of low-interest loans, financing guarantees, and credit assurances alleviates financing constraints during entrepreneurial pursuits, thereby mitigating business risks. Information asymmetry may curtail the availability of credit services for entrepreneurs and impede household entrepreneurial activities (Stiglitz and Weiss, 1981 ). Wang ( 2012 ) constructed models for employment and housing decision-making, revealing that liquidity constraints influence the interaction between personal wealth and entrepreneurial decision-making. The emergence of digital finance and the Internet has mitigated information asymmetry, moral hazard, and adverse selection, safeguarding entrepreneurs’ financial security (Beck et al., 2018 ; Qing et al., 2024 ). Furthermore, it has expanded product sales channels and enhanced the accessibility of cost-effective financial services (Berger and Udell, 2002 ; He and Maire, 2023 ), thereby fostering household entrepreneurial behavior. However, Hurst and Lusardi ( 2004 ) posit that credit constraints are not the primary impediment to entrepreneurial activities, as entrepreneurs can mitigate such constraints through savings and informal credit channels.

Social networks play a pivotal role in entrepreneurial endeavors. A robust social network can furnish material capital, technical expertise, vital information, and emotional support for household entrepreneurship (Yueh, 2009 ; Yates et al., 2023 ). Social networks effectively alleviate information asymmetry, mitigate adverse selection and moral hazard (Karlan, 2007 ; Kerr and Mandorff, 2023 ), and serve as an implicit guarantee mechanism, reducing the likelihood of default on non-governmental loans (Karlan, 2007 ). Consequently, social networks diminish liquidity constraints, thereby promoting households’ inclination towards entrepreneurship. According to entrepreneurial vigilance theory, information asymmetry gives rise to entrepreneurial opportunities, underscoring the significance of information disparities in entrepreneurial activities (Companys and McMullen, 2007 ; Wang et al., 2024 ). Trust fosters the flow of information among different social groups, cultivating social capital, and residents with greater entrepreneurial opportunities are more inclined towards entrepreneurship (Kwon and Arenius, 2010 ).

Microelements encompass human capital and psychological characteristics. Regarding human capital, Berkowitz and DeJong ( 2005 ) contend that individuals with higher education levels can swiftly and accurately identify potential entrepreneurial opportunities and efficiently allocate internal and external resources. However, compared to those with average education levels, individuals with higher education face higher opportunity costs, leading to lower entrepreneurial motivation. Additionally, some studies find no significant effect of education on entrepreneurial activities (Van der Sluis et al., 2008 ) or observe a non-linear U-shaped relationship (Poschke, 2013 ). Mankiw and Weinzierl ( 2011 ) ascertain that a lack of personal ability significantly dampens households’ entrepreneurial spirit. Entrepreneurial behavior necessitates the acquisition, organization, and analysis of information, with cognitive ability reflecting an individual’s capacity to process, store, and extract information. Thus, Haynie et al. ( 2012 ) posit that cognitive ability may influence an individual’s entrepreneurial activities. Other studies explore the relationship between an individual’s age (Caliendo et al., 2014 ), gender (Koellinger et al., 2013 ), marital status, political outlook (Yueh, 2009 ), entrepreneurial training (Blattman et al., 2014 ), work experience (Lazer, 2005 ), type of employment (Djankov et al., 2005 ), health status (Rey-Martí et al., 2016 ), management elements (Cheng et al., 2022 ), education (Cui and Bell, 2022 ; Adeel et al., 2023 ; Lin et al., 2023 ), entrepreneurial identity (Stevenson et al., 2024 ), and entrepreneurial behavior.

Concerning household wealth, the majority of studies posit a positive correlation between household wealth and entrepreneurial behavior (Evans and Jovanovic, 1989 ). Some studies also explore the impact of accidental exogenous events and policy reforms leading to increased wealth on household entrepreneurial behavior (Blattman et al., 2014 ). In terms of psychological characteristics, extant literature primarily discusses the effect of risk attitude on entrepreneurial behavior. Most studies demonstrate that individual risk preference significantly influences entrepreneurial behavior, with risk-tolerant individuals exhibiting a greater propensity for entrepreneurial activities (Osman, 2014 ). However, Hu ( 2014 ) suggests that risk-neutral individuals are more inclined to engage in active entrepreneurial activities, whereas risk-averse and risk-tolerant individuals are more predisposed to becoming waged workers.

Existing research predominantly concentrates on the determinants of financial literacy and entrepreneurial behavior. Few studies explore the impact of financial literacy on entrepreneurial behavior. This study aims to address this gap.

Methodology

Refer to prior studies (Dong et al., 2022 ; Yang et al., 2023 ; Zhao and Li, 2021 ; Xu et al., 2023 ; Graña-Alvarez et al., 2024 ), this study uses the \({{\rm {Probit}}}\) model to study the current and long-term effects of financial literacy on household entrepreneurial behavior. The basic regression equation is as follows:

When we study the current effect, \({{{\rm {Entrepre}}}}_{i}\) refers to entrepreneurship behavior of household \(i\) in 2015. \({{{\rm {Literacy}}}}_{i}\) represents financial literacy of household i in 2015. \({X}_{i}^{{\prime} }\) refers to control variables in 2015, including \({{\rm {gender}}}\) , \({{\rm {Age}}}\) , \({{{\rm {Age}}}}^{2}\) , \({{\rm {Health}}}\) , \({{\rm {Marriage}}}\) , \({{\rm {Education}}}\) , \({{\rm {RL}}}\) , \({{\rm {RN}}}\) , \({{\rm {RA}}}\) , \({\rm {{CPC}}}\) , \({{\rm {FS}}}\) , \({{\rm {Assets}}}\) , \({{\rm {NC}}}\) , \({{\rm {NE}}}\) , \({{\rm {House}}}\) , and \({{\rm {NU}}}\) . 1 \({\mu }_{i}\) is the error term. In the above regression model, we control the province-fixed effect. The current effect is a static effect based on cross-sectional data, which mainly examines whether the current financial literacy can affect the current household entrepreneurial behavior. Most existing studies only use cross-sectional data to consider current effects.

When we study the long-term effect, \({{{\rm {Entrepre}}}}_{i}\) refers to entrepreneurship behavior of household \(i\) in 2017. \({{{\rm {Literacy}}}}_{i}\) represents the financial literacy of household \(i\) in 2015. Other designs remain unchanged. The long-term effect is mainly to test whether financial literacy can have an effect on lagging entrepreneurial behavior.

Furthermore, we use the \({{\rm {ordered}}\; {\rm {Probit}}}\) model to study the dynamic effect of financial literacy on household entrepreneurial behavior as follows:

Where \({{{\rm {Entrepre}}}}_{i}^{* }\) represents the changes in entrepreneurial behavior household \(i\) during 2015–2017, it is an ordered variable, denoted by −1, 0, and 1, respectively. \({{{\rm {Literacy}}}}_{i}\) represents financial literacy of household \(i\) in 2015. \({\varphi }_{i}\) refers to control variables in 2015. The expression of \(F\) \(\left(\cdot \right)\) function in the model ( 2 ) is as follows:

Where \({{{\rm {Entrepre}}}}_{i}^{* {\prime\prime} }\) is the latent variable of \({{{\rm {Entrepre}}}}_{i}^{* }\) . \({\varepsilon }_{1} < {\varepsilon }_{2} < L < {\varepsilon }_{3}\) all are tangent points. \({{{\rm {Entrepre}}}}_{i}^{* {\prime\prime} }\) has to satisfy:

Financial literacy

Following prior studies (Lusardi and Mitchell, 2014 ; Zhao and Li, 2021 ), Table 1 reports the descriptive statistics of the answers to questions related to financial literacy as survey respondents’ financial literacy level denoted as \({{{\rm {Literacy}}}1}_{i}\) . It shows that 28.67%, 16.39%, and 51.94% of the households answered the questions of interest rate calculation, inflation understanding, and venture capital correctly, respectively, indicating that most Chinese households do not understand and calculate inflation. A total of 48.17% of the households incorrectly answered the questions about interest rate calculation, implying that Chinese households lack the ability to calculate the interest rate.

Factor analysis is also often used to measure financial literacy. Following Lusardi and Mitchell ( 2014 ), we believe that the level of financial literacy represented by wrong answers and failure to answer differs. Considering this, we construct two dummy variables for each question. Therefore, we obtain six dummy variables, including dum1–dum6. The KMO test results in Table 2 show that factor analysis is reasonable. Finally, this study selects the factors with an eigenvalue greater than one as respondents’ financial literacy denoted as \({{\rm {Literacy}}}2\) .

Referring to Zhao and Li ( 2021 ), the explained variable in this study is household entrepreneurial behavior, including \({{\rm {Enterpre}}}1\) and \({{\rm {Entrepre}}}2\) , \(\,{{Entrepre}1}^{* }\) , and \(\,{{{\rm {Entrepre}}}2}^{* }\) . \({{\rm {Entrepre}}}1\) measures whether the interviewed household participates in entrepreneurial behavior and is equal to one when the household is engaged in a self-employed business operation. \({{\rm {Entrepre}}}2\) measures whether the entrepreneurial behavior of entrepreneurial families is active and is equal to 1 if the reason for the household’s participation in entrepreneurship is “want to be the boss”, “earn more”, and “want to be more flexibles and free”. \({{{\rm {Entrepre}}}1}^{* }\) represents the changes in entrepreneurial behavior of households during 2015–2017. \({{{\rm {Entrepre}}}2}^{* }\) represents the changes in initiative entrepreneurship of households during 2015–2017. Its construction method is shown in Table 3 .

The survey data collected by the China Household Finance Survey in 2015 and 2017 are used in this paper. This database collects a large amount of information about Chinese residents through scientific surveys and statistical methods, and it is widely used in scientific research. The CHFS has designed relevant questions about the financial literacy of the interviewees. Samples with missing values are excluded. Table 4 provides the descriptive statistics of the variables. It is worth mentioning that CHFS has been widely adopted (Zhao and Li, 2021 ; Yang et al., 2023 ).

Empirical results

Financial literacy and entrepreneurial behavior.

Columns (1)–(4) in Table 5 report the estimated results of the current effect. The estimated coefficients of financial literacy in columns (1) and (2) are significant at the level of 5% and 1%, respectively, indicating that the improvement of financial literacy can significantly improve the possibility of household entrepreneurship. This result shows that financial literacy is an important determinant of household entrepreneurship decision-making, and it is the driver of household entrepreneurial activities. We found an interesting conclusion from the estimation results of the control variables. From the results in columns (1)–(4), we find that the education level of the head of the household is significantly negatively correlated with the household entrepreneurial behavior. However, the impact of our financial literacy on household entrepreneurial behavior was positive. This result seems to go against our intuition. We think that because financial literacy education is different from general education. Ordinary education mainly emphasizes the popularization and popularization of knowledge, while financial literacy education should be a kind of targeted specialized education. This conclusion supports the conclusion of the majority of the current literature.

The regression model may suffer endogenous problems. Endogeneity mainly comes from two aspects. First, a reverse causal relationship exists between financial literacy and household entrepreneurial choice. The accumulation of entrepreneurial experience may also lead to improved financial literacy. Second, the respondents may guess the answers to financial questions, leading to inaccurate measurement of financial literacy. Following Bucher-Koenen and Lusardi ( 2011 ) and Jappelli and Padula ( 2013 ), we selected the highest educational level among parents as an instrumental variable. We chose this instrumental variable for two main reasons. First, the family is the first place where individuals acquire and learn knowledge after they are born. Generally speaking, the higher the education level of parents, the more emphasis they will put on the education of their children. Parents with a high level of education can better help their children develop study habits and guide their children to receive more and better education through precepts and deeds and subtle influences in the daily life of the family. This will allow them to know more about their computing power and knowledge of economics and finance and possibly have a higher level of financial literacy. Second, the educational level of parents is determined before their children start a business and is independent of the entrepreneurial decisions of their children’s families. This suggests that parents’ educational level is strictly exogenous relative to their children’s entrepreneurial decisions. Therefore, we think it is appropriate to use parental education level as an instrumental variable. The problem that cannot be ignored is that parents with higher education levels are more likely to provide more resources for their children to start a business through their relationship network. We address this issue by controlling the parental network in our model. The results show that both the correlation test and the exogenous test of the instrumental variable of parental education level have passed, which verifies the validity of the instrumental variable to a certain extent. The results in Columns (3) and (4) in Table 5 support our conclusion.

Columns (5)–(8) in Table 5 report the estimated results of the current effect of financial literacy on household initiative entrepreneurship ( \({{\rm {Entrepre}}}2\) ). The results in columns (5) and (6) of Table 5 show that the estimated coefficients of financial literacy are significant at the level of 10%, indicating that financial literacy can help raise the household’s motivation for entrepreneurship in the current period and promote the initiative in entrepreneurship. Columns (7) and (8) in Table 5 , The DWH test, first-stage estimated and instrumental variables show that financial literacy will help raise the household’s motivation for entrepreneurship in the current period and promote the initiative in entrepreneurship.

Table 6 reports the estimated results of the long-term effect of financial literacy on household entrepreneurial behavior. No matter what index is used to measure financial literacy, the estimated coefficient of financial literacy is statistically significantly positive, indicating that financial literacy is beneficial to increasing the probability of households participating in entrepreneurial activities and taking the initiative in entrepreneurship in the long term.

Table 7 reports the estimation results of the ordered \({{\rm {Probit}}}\) model to estimate the dynamic improvement effect of financial literacy on household entrepreneurial behavior. In Table 7 , columns (1) and (2) show that no matter what index is used to measure financial literacy, the estimated coefficient of financial literacy is statistically significantly positive. After controlling endogenous concerns, we can obtain consistent results in columns (3) and (4). Columns (5)–(8) in Table 7 , no matter what index is used to measure financial literacy, the estimated coefficient of financial literacy is statistically significantly positive. We find that the improvement of financial literacy level is helpful in promoting the development of household entrepreneurial decision-making and initiative in entrepreneurship.

The above empirical results suggest that improving financial literacy levels may significantly promote family participation in entrepreneurial activities and household initiative in entrepreneurship. This conclusion is consistent with the conclusion of Xu et al. ( 2023 ), indicating that financial literacy may have current, long-term, and dynamic effects on some financial behaviors. This effect has the characteristics of current, long-term, and dynamic improvement. This study provides a reasonable explanation for the findings that financial literacy adds to entrepreneurs’ understanding of business activities and market dynamics, enabling them to discover entrepreneurial opportunities better.

Robustness checks

We conduct the robustness checks by replacing the proxy index of financial literacy. We construct three dummy variables, namely, \({{\rm {Dum}}}1\) , \({{\rm {Dum}}}3\) , and \({{\rm {Dum}}}\) 5. We use these three dummy variables to replace the explanatory variable \({{\rm {Entrepre}}}1\) or \({{\rm {Entrepre}}}2\) in the model (1) and model (2). \({{\rm {Dum}}}1\) means the answers the interest rate calculation question correctly, \({{\rm {Dum}}}2\) means the answers the inflation question correctly, \({{\rm {Dum}}}3\) means the answers the inflation question correctly. Table 8 reports the corresponding estimated results. The estimated coefficients of \({{\rm {Dum}}}1\) and \({{\rm {Dum}}}3\) are not significant. However, no matter what index is used to measure financial literacy, the estimated coefficient of \({{\rm {Dum}}}5\) is statistically significantly positive, indicating that venture capital literacy can significantly improve household entrepreneurial activities and motivation to initiate entrepreneurship.

In addition, we use respondents’ attention to economic and financial information to measure it denoted as \({Attention}\) . We use \({attention}\) to replace the explanatory variable \({Literacy}1\) or \({Literacy}2\) in the model (1) and model (2). Table 9 results show that the estimated coefficient of \({Attention}\) is statistically significantly positive. It shows that attention to financial and economic information can significantly improve household entrepreneurial activity and motivation to initiate entrepreneurship, which also indicates that the influence of financial literacy is robust.

Heterogeneity analysis

Urban–rural differences.

Significant differences exist between urban and rural areas in China’s economic environment, and household entrepreneurship behavior may show varying tendencies in different environments. Therefore, the effect of financial literacy on household entrepreneurship may have urban–rural heterogeneity. Table 10 reports the estimated results. Combining the size of the explanatory variable coefficient and the test results of inter-group coefficient difference, we find that the effect of financial literacy on households’ participation in entrepreneurial activities is more pronounced for households in urban areas. However, the effect of financial literacy on the initiative in entrepreneurship is more pronounced for households in rural areas.

Regarding the findings, this study provides a reasonable explanation. Compared with rural areas, urban areas have higher economic and financial development. Highly skilled personnel are also more abundant in urban areas, which leads to more opportunities for entrepreneurship. Therefore, the relationship between financial literacy and the possibility of households’ participating in entrepreneurial activities is stronger for households in urban areas. The level of income and financial development in rural areas is low, and the degree of financing constraints on households is severe. Compared with urban households who have already participated in entrepreneurial activities, rural households who have already participated in entrepreneurial activities are more eager to quickly realize “being your own boss,” “earning more,” and “being flexible and free” through initiative in entrepreneurship.

Gender differences

Gender differences in financial literacy are common in many countries (Hung et al., 2009 ). Lusardi and Mitchell ( 2014 ) found that in the United States, 38.3% of men can correctly answer three financial questions, but only 22.5% of women can. Only in their old age can women have financial investment motivation and a strong interest in household financial management (Tran et al., 2019 ). Table 11 reports the estimated results. Combining the size of explanatory variable coefficient and the test results of inter group coefficient difference, we find that the effect of financial literacy on household participation in entrepreneurial activities is more pronounced in the male sample and the effect of financial literacy on the household initiative in entrepreneurship is more pronounced in the female sample.

This study provides a reasonable explanation for the findings. Compared with women, men tend to be more confident in their economic decision-making abilities and have a stronger interest in family financial management, hoping to realize self-worth through entrepreneurship. Therefore, financial literacy has a stronger effect on men’s participation in entrepreneurial activities. Compared with men who have made entrepreneurial choices, women are more eager to realize personal financial freedom in entrepreneurship. Therefore, financial literacy has a stronger effect on women’s initiative in entrepreneurship.

Potential mechanism analysis

Income channels.

On the one hand, the income gap or expansion of income levels has changed people’s relative status, intensified “relative exploitation” and social differentiation, and affected people’s “material craving” and jealousy, thereby helping to stimulate the enthusiasm of middle- and low-income groups to start a business (Mensah and Benedict, 2010 ). On the other hand, the most important thing at the beginning of entrepreneurship is the initial capital for family entrepreneurship, and the increase in family income provides initial capital for family entrepreneurship, thereby promoting family entrepreneurial activities (Evans and Jovanovic, 1989 ). To this end, this study explores whether financial literacy will affect household entrepreneurial activities through the channel of increasing household income and income level. This study estimates the following regression model to prove the income channel that financial literacy may increase household income and income rank:

where \({{{\rm {Income}}}}_{i}\) refers to the natural logarithm of the total household income. \(\,{{{\rm {Rank}}}}_{i}=1\) represents a high-income household. \({X1}_{i}\) and \({X2}_{i}\) represent control variables in 2015, including \({{\rm {gender}}}\) , \({{\rm {Age}}}\) , \({{{\rm {Age}}}}^{2}\) , \({{\rm {Health}}}\) , \({{\rm {Marriage}}}\) , \({{\rm {Education}}}\) , \({{\rm {RL}}}\) , \({{\rm {RN}}}\) , \({{\rm {RA}}}\) , \({{\rm {CPC}}}\) , \({{\rm {FS}}}\) , \({{\rm {Assets}}}\) , \({{\rm {NE}}}\) , \({{\rm {NC}}}\) , \({{\rm {House}}}\) , and \({{\rm {NU}}}\) . Other designs are consistent with the benchmark model ( 1 ). If \({\omega }_{1}\) and \({\omega }_{2}\) are significantly positive, then we can conclude that financial literacy may increase household income and income rank.

We use CHFS 2015 data to conduct empirical research to prove that financial literacy can increase household income and promote entrepreneurial activities. This study uses two indicators of total household income ( \({{\rm {Income}}}\) ) and income level ( \({{\rm {Rank}}}\) ) as household income variables. The total family income is a total indicator of income, and the income level is a relative indicator that reflects the relative level of family income. We divide the income level into two levels according to the total income of the sample. The top 50% of the total income level is defined as the high-income class, and the bottom 50% is defined as the low-income family. The endogenous problems found in the regression model are solved by the instrumental variable method. The estimation results are shown in Table 12 . It shows that the estimated coefficients for \({{\rm {Literacy}}}1\) and \({{\rm {Literacy}}}2\) are significantly positive, which indicates that income channels are possible. The regression model may suffer endogenous problems. Following Bucher-Koenen and Lusardi ( 2011 ) and Jappelli and Padula ( 2013 ), we select the highest educational level among parents as an instrumental variable. Columns (5)–(8) in Table 12 show that the estimated coefficients of financial literacy are significantly above 1%, which indicates that income channels are possible.

Social network channels

In China, the family social network is mainly based on blood and geography. One of the important means of communication and relationship between relatives and friends is to give gifts to one another during the Spring Festival and other holidays and weddings and funerals. We use CHFS 2015 data for empirical research and select the family’s cash and non-cash expenditures ( \({{\rm {Expenditure}}}\) ), income ( \({{\rm {Revenue}}}\) ), and total income and expenditure ( \({{\rm {Sum}}}\) ) during the Spring Festival and other holidays and weddings and funerals as the proxy variables for the social network. The endogenous problems found in the regression model are solved using the two-stage instrumental variable method. This study strives to prove the social network channel that financial literacy promotes families’ cash and non-cash expenditures, revenue, and total revenue and expenditure during holidays such as the Spring Festival and weddings and funerals. Our model is as following:

where \({{SN}}_{i}\) is \({{Expenditure}}_{i}\) , \({{revenue}}_{i}\) , or \({{Sum}}_{i}\) refer to the social network. \({{Expenditure}}_{i}\) represents the total cash and non-cash expenditures of the family during holidays such as the Spring Festival and weddings and funerals. \({{Revenue}}_{i}\) represents the total cash and non-cash revenue of the family. \({{Sum}}_{i}\) represents the total cash and non-cash expenditures and revenue of the family. \({X3}_{i}\) represents control variables in 2015, including \({gender}\) , \({Age}\) , \({{Age}}^{2}\) , \({Health}\) , \({Marriage}\) , \({Education}\) , \({RL}\) , \({RN}\) , \({RA}\) , \({CPC}\) , \({FS}\) , \({Assets}\) , \({NE}\) , \({NC}\) , \({House}\) , and \({NU}\) . Other designs are consistent with model (1). If \({\psi }_{1}\) is significantly positive, then we can conclude that financial literacy may expand social network.

The estimated results are shown in Table 13 . Following Bucher-Koenen and Lusardi ( 2011 ) and Jappelli and Padula ( 2013 ), we selected the highest educational level among parents as an instrumental variable. As can be seen from columns (1)–(6) in Panel A, \({Literacy}1\) and \({Literacy}2\) are both significantly positive at the 1% level. From columns (1)–(6) in Panel B, after controlling for endogenous factors, \({Literacy}1\) and \({Literacy}2\) are both statistically significantly positive at the 1% level. These results imply that social network channels are possible and reliable.

Risk attitude channels

We use CHFS 2015 data to conduct empirical research to prove that financial literacy can improve household risk attitudes and promote family entrepreneurial activities. We measure risk attitudes in multiple dimensions. First, we construct a comprehensive index of risk attitude. Risk preference ( \({{\rm {RL}}}\) ), risk neutrality ( \({{\rm {RN}}}\) ), and risk aversion ( \({{\rm {RA}}}\) ) are assigned values of 3, 2, and 1, respectively, to examine the effect of financial literacy on risk attitudes. Then, we divide risk attitudes into risk preference ( \({{\rm {RL}}}\) ), risk aversion ( \({{\rm {RA}}}\) ), and risk neutrality ( \({{\rm {RN}}}\) ) and generate dummy variables to examine the effect of financial literacy on these three types. Similarly, considering that there may be endogenous problems in the regression model, we use the instrumental variable method to solve the problem. This study strives to prove the risk attitude channel that financial literacy promotes risk attitude:

where \({{{\rm {Risk}}\_{\rm {attitude}}}}_{i}\) is \({{{\rm {RL}}}}_{i}\) , \({{{\rm {RN}}}}_{i,}\) or \({{{\rm {RA}}}}_{i}\) in model ( 8 ), and \({{{\rm {Risk}}}}_{i}\) is \({{\rm {Risk}}}\) in model ( 9 ). Risk preference ( \({{\rm {RL}}}\) ), risk aversion ( \({{\rm {RA}}}\) ), and risk neutrality ( \({{\rm {RN}}}\) ) are generated as dummy variables to examine the effect of financial literacy on the three types of risk attitudes. \({{{\rm {Risk}}}}_{i}\) is a comprehensive indicator of risk attitude. We assign the values of 3, 2, and 1 to respondents’ risk preference, risk neutrality, and risk aversion, respectively, and examine the effect of financial literacy on risk attitudes. \({X4}_{i}\) represents control variables in 2015, including \({{\rm {gender}}}\) , \({{\rm {Age}}}\) , \({{{\rm {Age}}}}^{2}\) , \({{\rm {Health}}}\) , \({{\rm {Marriage}}}\) , \({{\rm {Education}}}\) , \({{\rm {CPC}}}\) , \({{\rm {FS}}}\) , \({{\rm {Assets}}}\) , \({{\rm {NE}}}\) , \({{\rm {NC}}}\) , \({{\rm {House}}}\) , and \({{\rm {NU}}}\) . Other designs are consistent with the benchmark model ( 1 ). If \({\omega }_{3}\) and \({\sigma }_{1}\) are significantly positive, then we can conclude that financial literacy may improve risk attitude.

The estimation results are shown in Table 14 . Columns (1)–(8) in Panel A demonstrate that the marginal effect of financial literacy on risk appetite and risk neutrality is positive, while the marginal effect on risk aversion is significantly negative. This indicates that enhancing financial literacy has led to an increase in residents’ willingness to take risks and a reduction in their aversion to risk. Additionally, the positive marginal effect of financial literacy on risk attitudes further underscores its role in improving residents’ overall risk perception. Following Bucher-Koenen and Lusardi ( 2011 ) and Jappelli and Padula ( 2013 ), we selected the highest educational level among parents as an instrumental variable. The estimation results in columns (1)–(8) of Panel B indicate that after solving the endogenous problem, the estimated coefficients or marginal effect coefficients of \({{\rm {Literacy}}}1\) and \({{\rm {Literacy}}}2\) are significantly positive at the level of 5% and above. The above results confirm the rationality of the empirical evidence that financial literacy promotes family entrepreneurial behavior by improving residents’ risk attitudes.

Further analysis: the role of financial education

The aforementioned findings substantiate the significant impact of financial literacy on family entrepreneurial behavior, thereby underscoring the importance of delving deeper into strategies aimed at enhancing residents’ financial literacy within the context of family entrepreneurship. According to Lusardi and Mitchell ( 2011 ), implementing financial education programs emerges as the most effective means to bolster residents’ financial literacy. Can financial education truly serve as a catalyst for elevating residents’ financial literacy? Furthermore, can it effectively amplify the influence of financial literacy on residents’ entrepreneurial endeavors? Investigating the intricate interplay between financial literacy, financial education, and familial entrepreneurial conduct is paramount.

In initial exploration, it becomes imperative to scrutinize the correlation between financial education and the level of financial literacy. To operationalize financial education, a binary variable is constructed, wherein a value of 1 denotes participation in coursework related to economics or finance, while a value of 0 indicates otherwise. Subsequently, the variables Literacy1 or Literacy2 are introduced to replace the interpreted variable, and the variable Learn stands in place of the interpreted variable. The control variables adhere to the framework outlined in Model (1). The estimated outcomes are presented in Table 15 . Regardless of the method employed to measure financial literacy, the estimated coefficient of financial education ( Learn ) consistently demonstrates a statistically significant positive impact at the 1% significance level, suggesting that engagement in financial education initiatives can indeed enhance residents’ financial literacy levels. Additionally, three PSM methodologies are employed to scrutinize the influence of financial education on financial literacy. The estimated results, as detailed in Table 16 , consistently reveal positive and statistically significant ATT values, thereby affirming the robustness of the aforementioned findings. These robustness checks further underscore the foundational assertion, highlighting the pivotal role of financial education in enriching family financial literacy.

Moving forward, our investigation extends to assessing whether financial education can effectively augment the influence of financial literacy on family entrepreneurial behavior. To address this inquiry, we construct an interaction term, denoted as Literacy × Learn, which captures the combined impact of financial education and financial literacy. This interaction term is incorporated into the analysis. Table 17 presents the estimated results. Irrespective of the method employed to measure financial literacy, the estimated coefficient of Literacy × Learn consistently displays a statistically significant positive association. This signifies that financial education effectively amplifies the impact of financial literacy on family entrepreneurial behavior.

An intriguing discovery emerges from our analysis: the estimated marginal effect coefficient for the interaction terms of Literacy1 × Learn or Literacy2 × Learn is notably positive, surpassing the coefficient of financial literacy alone. This observation suggests a close relationship between the impact of financial literacy on entrepreneurial behavior and individuals’ exposure to financial education. Consequently, our study substantiates that financial education serves as a moderating variable in shaping the influence of financial literacy on residents’ entrepreneurial behavior, effectively augmenting its impact. In practical terms, nationwide financial education initiatives and inclusive activities led by the People’s Bank of China, in collaboration with other financial institutions, have yielded noteworthy results over time. However, the current lack of enthusiasm and initiative among residents toward learning may hinder their engagement with financial education programs. Yet, with the proliferation of financial education efforts, this apathy is expected to wane, paving the way for increased attention and participation in financial education and training endeavors.

Theoretical implications

Our study draws upon human capital theory and modern entrepreneurship theory to empirically analyze the present, long-term, and evolving effects of financial literacy on household entrepreneurial behaviors, utilizing data from the CHFS in 2015 and 2017. The findings reveal that financial literacy exerts immediate, persistent, and evolving positive effects on households’ engagement in entrepreneurial activities and their propensity towards entrepreneurship. Addressing the endogeneity of the regression model, the results from the two-stage regression analysis corroborate the primary regression findings. Heterogeneity analysis highlights significant disparities between urban and rural areas as well as gender differences in how financial literacy influences household entrepreneurial behavior. Moreover, this study validates three potential mechanisms: income, social network, and risk attitude channels. We observe that financial literacy significantly enhances household income, broadens social networks, and fosters improved risk attitudes. Furthermore, our analysis indicates that financial education reinforces the impact of financial literacy on entrepreneurial behavior. These research findings carry significant theoretical implications, enriching both human capital theory and modern entrepreneurship theory.

Practical implications

This research carries significant implications for policymakers and stakeholders alike. Firstly, governments should recognize the pivotal role of financial literacy and embark on comprehensive initiatives to promote it through various channels, including television programs, radio broadcasts, informational brochures, training sessions, and specialized lectures. Establishing a sustained mechanism for the dissemination of financial literacy is crucial for enhancing the financial acumen of our nation’s populace. Secondly, special emphasis should be placed on promoting financial literacy in rural areas and among women. Collaborative efforts with financial institutions can facilitate targeted and tailored financial education projects aimed at these demographics, thereby fostering inclusivity and empowerment. By addressing the disparities in financial literacy, governments can pave the way for more equitable access to financial resources and opportunities. Thirdly, governments should actively promote financial education activities, including entrepreneurship training programs. These initiatives can mitigate the inhibitory effects of low financial literacy on entrepreneurial pursuits and enhance the management capabilities of entrepreneurs. By equipping individuals with the necessary skills and knowledge, such programs contribute to the resilience and dynamism of China’s financial market and stimulate growth in the employment landscape. In conclusion, concerted efforts to promote financial literacy and education are essential for advancing economic prosperity, fostering entrepreneurship, and ensuring inclusive development. By prioritizing these initiatives, policymakers can lay the foundation for a more resilient and prosperous future for China’s economy and society.

Future research and limitations

While our study has yielded significant insights, there are several avenues that merit further exploration in future research endeavors. Firstly, the complex relationship between cultural diversity and entrepreneurial behavior warrants deeper investigation. Unfortunately, due to the lack of detailed data on cultural diversity at the market segment level, this aspect remains largely unexplored in our study. Future research could delve into this aspect to better understand how cultural factors influence entrepreneurial decisions. Secondly, our analysis is constrained by the utilization of cross-sectional data from 2015 and 2017. Access to longitudinal data covering a broader timeframe could provide more nuanced insights and facilitate stronger conclusions. Therefore, future studies could benefit from employing larger datasets and extended panel data to comprehensively analyze the dynamics of the relationship between financial literacy and entrepreneurial behavior over time. Thirdly, the simplicity of the questionnaire used in our study may limit the depth of understanding regarding residents’ entrepreneurial behavior. Future research could address this limitation by employing more sophisticated questionnaires developed through an interdisciplinary approach, incorporating insights from psychology and other relevant fields. This holistic approach may offer a more nuanced understanding of residents’ entrepreneurial behavior, thereby enhancing the validity and reliability of the findings.

Furthermore, with the advent of the digital age, integrating elements of digitization or digital technology into academic research has become imperative. In our future research endeavors, we aim to expand our focus in several key areas. Firstly, we will explore the determinants of digital entrepreneurial behavior, examining how digital technologies influence entrepreneurial decisions and strategies. Secondly, we will emphasize the importance of digital financial literacy in shaping entrepreneurial behavior, considering how individuals’ proficiency in digital financial tools and platforms impacts their entrepreneurial activities. Lastly, we will endeavor to leverage digital technology to enhance causal identification in empirical analysis, employing innovative methodologies to better understand the mechanisms underlying the relationship between financial literacy and entrepreneurial behavior in the digital era.

Data availability

The datasets generated during and/or analyzed during the current study are available in the Harvard Dataverse repository: https://doi.org/10.7910/DVN/NRZ1K1 .

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Acknowledgements

We thank the support provided by the STU Scientific Research Initiation Grant [Grant No. STF24004T] and the National Natural Science Foundation of China [Grant No. 72203047].

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Xu, S., Jiang, K. Knowledge creates value: the role of financial literacy in entrepreneurial behavior. Humanit Soc Sci Commun 11 , 679 (2024). https://doi.org/10.1057/s41599-024-03201-3

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Entrepreneurship Research Paper Topics

This page presents a comprehensive list of entrepreneurship research paper topics , divided into 10 categories with 10 topics in each. Additionally, it offers expert advice on how to choose from the multitude of entrepreneurship topics and how to write a successful entrepreneurship research paper. The page concludes with information on the iResearchNet writing services, which offer students the option to order a custom entrepreneurship research paper on any topic. Whether you are an experienced researcher or just beginning your journey in entrepreneurship, this page is a valuable resource for finding inspiration and guidance for your next research project.

Entrepreneurship Research and Writing

Entrepreneurship is a dynamic and exciting field that involves developing, organizing, and managing a business venture to make a profit. As a result, it has become a popular area of study for students looking to develop their business acumen and pursue careers as entrepreneurs or business leaders. To succeed in this field, students must not only have a solid understanding of business fundamentals, but also stay up-to-date with the latest trends and best practices in entrepreneurship.

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Whether you’re looking to explore the impact of technology on entrepreneurship, examine the role of government policies in supporting entrepreneurship, or analyze the psychology of successful entrepreneurs, there’s a topic on this list that will spark your interest. In addition to the topic categories, we also offer expert advice on how to choose a research topic, as well as tips for writing a successful entrepreneurship research paper. And for those who need additional assistance, we provide custom writing services to help students get the highest quality research papers on any topic.

With this page, we hope to inspire and equip entrepreneurship students with the tools and resources they need to succeed in their studies and future careers as entrepreneurs and business leaders.

100 Entrepreneurship Research Paper Topics

Entrepreneurship is a vast and complex field of study, encompassing various aspects of business creation, management, and growth. Here are ten categories of entrepreneurship research paper topics that can help students explore this multifaceted field:

Entrepreneurial mindset

• The role of creativity and innovation in developing an entrepreneurial mindset
• The psychological factors that influence entrepreneurial decision-making and risk-taking behavior
• The impact of failure on the development of an entrepreneurial mindset
• The influence of family background and upbringing on the development of an entrepreneurial mindset
• The relationship between an entrepreneurial mindset and opportunity recognition
• The impact of social and cultural factors on the development of an entrepreneurial mindset
• The role of education and training in fostering an entrepreneurial mindset
• The relationship between an entrepreneurial mindset and entrepreneurial success
• The impact of personal values and beliefs on the development of an entrepreneurial mindset
• The influence of age and gender on the development of an entrepreneurial mindset.

Entrepreneurial finance

• The role of venture capitalists in financing startups
• The impact of crowdfunding on small business financing
• The effectiveness of bootstrapping as a financing strategy for startups
• The role of angel investors in entrepreneurial finance
• The effects of government funding on small business growth
• The pros and cons of debt financing for startups
• The benefits and risks of equity financing for entrepreneurs
• The impact of tax incentives on small business financing
• The role of corporate venture capital in financing startups
• The impact of cryptocurrency on small business finance

Entrepreneurial marketing

• The role of social media in the marketing strategies of successful startups.
• Marketing strategies for new businesses targeting the millennial market.
• The use of guerrilla marketing tactics by startups and their effectiveness in driving customer acquisition.
• How to identify and reach niche markets as a new business.
• The importance of customer relationship management in early-stage startups.
• The role of influencer marketing in the promotion of new products and services.
• Brand building strategies for startups on a limited budget.
• The effectiveness of content marketing for startups and how to measure ROI.
• The use of experiential marketing techniques to create buzz and build brand awareness.
• Strategies for leveraging user-generated content as a low-cost marketing tool for new businesses.

Social entrepreneurship

• Social entrepreneurship in developing countries: opportunities and challenges
• Examining the role of government policy in promoting social entrepreneurship
• Crowdfunding for social enterprises: a study of its impact and effectiveness
• Social entrepreneurship and environmental sustainability: exploring the intersection
• Social entrepreneurship and corporate social responsibility: a comparative study
• Measuring the social impact of social entrepreneurship ventures: current approaches and future directions
• Social entrepreneurship and innovation: exploring the relationship and its implications
• Non-profit organizations as social entrepreneurship ventures: a case study analysis
• The role of social entrepreneurship in addressing societal inequalities
• The impact of social entrepreneurship on economic development in rural areas

Women entrepreneurship

• The role of networking in women entrepreneurship
• Women entrepreneurship in emerging markets
• Gender differences in entrepreneurial intentions and actions
• How to overcome gender-related obstacles in accessing capital for women entrepreneurs
• The impact of gender stereotypes on women entrepreneurs
• Women entrepreneurs and work-life balance
• The role of mentorship in supporting women entrepreneurs
• The challenges and opportunities for women entrepreneurs in male-dominated industries
• The importance of family support in women entrepreneurship
• The impact of gender diversity in the leadership team on firm performance in women-led ventures

Family business entrepreneurship

• The role of family culture in shaping entrepreneurial ventures in family businesses
• Succession planning in family businesses: key factors for a smooth transition
• Balancing family and business: challenges and strategies for family-owned enterprises
• Family business governance: best practices for effective decision-making
• How the dynamics of family relationships affect entrepreneurial performance in family businesses
• The impact of family members’ entrepreneurial motivations on business strategy in family firms
• Exploring the role of family ties in entrepreneurial team formation in family businesses
• The challenges of implementing innovation in family businesses: a study of successful family entrepreneurs
• Family business entrepreneurs and corporate social responsibility: a comparative study of family and non-family firms
• Female successors in family businesses: opportunities and challenges for women entrepreneurs in a male-dominated field

Innovation and technology entrepreneurship

• The impact of artificial intelligence on entrepreneurship
• The role of intellectual property in technology entrepreneurship
• Crowdfunding and technology entrepreneurship
• The challenges and opportunities of blockchain technology for entrepreneurs
• The impact of big data on entrepreneurial decision-making
• The relationship between technology entrepreneurship and sustainability
• Technology entrepreneurship in emerging markets
• The role of open innovation in technology entrepreneurship
• The intersection of entrepreneurship and cybersecurity
• Technology entrepreneurship in the healthcare industry

Global entrepreneurship

• The role of culture in international entrepreneurship
• The impact of global trade policies on entrepreneurial activity
• The effects of foreign direct investment on entrepreneurship in developing countries
• The influence of political instability on cross-border entrepreneurship
• The role of international networks in facilitating entrepreneurship
• The impact of global economic trends on small business growth
• The challenges and opportunities of exporting for small and medium-sized enterprises
• The role of technology in enabling global entrepreneurship
• The impact of language barriers on international entrepreneurial activity
• The importance of cross-cultural communication in global entrepreneurial ventures

Small business management and entrepreneurship

• The role of small businesses in local economic development
• Factors contributing to the success or failure of small businesses
• Effective leadership strategies for small business owners
• Small business marketing strategies in the digital age
• Challenges and opportunities for minority-owned small businesses
• Financing options for small businesses: pros and cons
• Balancing entrepreneurship with work-life balance in small business management
• Addressing ethical dilemmas in small business management and entrepreneurship
• Navigating legal and regulatory compliance for small businesses
• Innovation and growth strategies for small businesses in competitive markets

Corporate entrepreneurship

• The role of corporate culture in fostering entrepreneurial activity within established firms
• The impact of corporate entrepreneurship on firm performance and long-term sustainability
• Strategies for identifying and pursuing entrepreneurial opportunities within a large organization
• Challenges and opportunities for corporate entrepreneurship in highly regulated industries
• Balancing innovation and risk management in corporate entrepreneurship initiatives
• Best practices for building and managing cross-functional teams to drive innovation within large organizations
• The relationship between corporate entrepreneurship and corporate social responsibility
• The impact of corporate entrepreneurship on employee engagement and retention
• The role of leadership in supporting and promoting a culture of entrepreneurship within a corporation
• Examining successful case studies of corporate entrepreneurship, including both internal and external ventures

These categories provide a broad overview of the various areas of entrepreneurship research. Within each category, there are numerous research paper topics that students can explore in depth.

Choosing Entrepreneurship Research Paper Topics

Choosing the right topic is crucial when writing an entrepreneurship research paper. It should be something that interests you and aligns with your academic and career goals. Here are some expert tips to help you choose the perfect entrepreneurship research paper topic:

• Consider your interests and passions : Start by brainstorming topics that you are passionate about or that interest you. This can help you to stay motivated throughout the research and writing process.
• Review current trends : Stay up-to-date with current trends in entrepreneurship by reading industry publications, attending conferences, and following social media accounts of influential entrepreneurs. This can help you to identify gaps in research and potential topics to explore.
• Consider the audience : Consider the target audience of your research paper and choose a topic that is relevant and interesting to them. For example, if your audience is investors, consider topics related to startup valuation or funding sources.
• Look for gaps in existing research : Read existing literature on entrepreneurship to identify gaps in research. This can help you to identify potential research topics that have not been extensively explored.
• Consider the scope of the research : Consider the scope of the research you are willing to undertake. Ensure that the topic you choose is not too broad or too narrow for the scope of your paper.
• Focus on a specific aspect of entrepreneurship : Narrow down your topic to a specific aspect of entrepreneurship, such as social entrepreneurship or corporate entrepreneurship. This can help you to provide a more in-depth analysis of your topic.
• Consider the resources available : Consider the resources you have available for your research. Choose a topic that you can adequately research with the resources you have.
• Consider the potential impact : Consider the potential impact of your research topic on the field of entrepreneurship. Choose a topic that has the potential to make a significant contribution to the field.
• Consult with your instructor or advisor : Consult with your instructor or advisor for guidance on choosing a research topic. They can provide valuable feedback and help you to narrow down your options.
• Brainstorm with peers : Brainstorm with peers to identify potential research topics. They may provide insights and perspectives that you had not considered.

In conclusion, choosing the right entrepreneurship research paper topic is crucial to your success in academic and professional settings. By following these expert tips and considering your interests, strengths, and goals, you can choose a suitable topic that is engaging, specific, and feasible.

How to Write an Entrepreneurship Research Paper

Writing an entrepreneurship research paper can be an exciting and rewarding experience. However, it can also be a daunting task, especially if you are new to the field of entrepreneurship research. Here are some tips and guidelines to help you write a successful entrepreneurship research paper:

• Choose a narrow and specific topic : The first step in writing an entrepreneurship research paper is to choose a narrow and specific topic that is relevant to the field. Avoid broad topics that are difficult to cover in a single research paper. Instead, choose a topic that is focused and specific, and that allows you to conduct in-depth research.
• Conduct extensive research : Once you have chosen your topic, it’s time to conduct extensive research. This involves gathering information from a variety of sources, such as academic journals, books, and online resources. Make sure to keep track of your sources and take detailed notes.
• Develop a strong thesis statement : Your thesis statement is the main argument of your research paper. It should be clear, concise, and specific. Make sure to provide a clear and concise overview of your research topic and the main arguments you will be making in your paper.
• Use relevant and reliable sources : When conducting research for your entrepreneurship research paper, it’s important to use relevant and reliable sources. This includes academic journals, books, and reputable online sources. Make sure to cite all sources correctly using the appropriate citation style.
• Organize your paper : Once you have gathered all of your research and developed your thesis statement, it’s time to organize your paper. Make sure to create an outline that includes an introduction, body paragraphs, and a conclusion. This will help you stay on track and ensure that your paper flows logically.
• Use clear and concise language : When writing your entrepreneurship research paper, it’s important to use clear and concise language. Avoid using jargon or technical terms that may be difficult for your audience to understand. Instead, use plain language and explain any complex concepts or terms.
• Edit and revise your paper : Once you have finished writing your entrepreneurship research paper, it’s important to edit and revise it. This involves checking for spelling and grammatical errors, as well as making sure that your paper flows smoothly and logically. Consider having a peer or mentor review your paper before submitting it.
• Follow the appropriate citation style : When citing sources in your entrepreneurship research paper, it’s important to follow the appropriate citation style. This includes APA, MLA, Chicago/Turabian, or Harvard style. Make sure to follow the guidelines for your specific citation style to ensure that your citations are correct.
• Use visuals to enhance your paper : Visuals, such as graphs, charts, and tables, can be a great way to enhance your entrepreneurship research paper. They can help to illustrate complex concepts and data in a clear and concise way. Make sure to use visuals sparingly and only when they add value to your paper.
• Seek feedback and revision : Finally, it’s important to seek feedback on your entrepreneurship research paper and be open to revision. Consider having a peer or mentor review your paper and provide feedback. Use this feedback to revise and improve your paper before submitting it.

By following these tips and guidelines, you can write a successful entrepreneurship research paper that is well-researched, well-organized, and effectively communicates your ideas and arguments.

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List of Research Topics in Entrepreneurship: Exploring the Frontiers of Entrepreneurship

Table of contents

• 1 In What Areas Can You Choose Research Topic on Entrepreneurship?
• 2.1 Entrepreneur Topics about Mindset
• 2.2 Entrepreneurial Finance
• 2.3 Entrepreneurial Marketing
• 2.4 Social Entrepreneurship
• 2.5 Innovation and Technology Entrepreneurship
• 2.6 Small Business Management and Entrepreneurship
• 2.7 Sustainable Entrepreneurship
• 2.8 Entrepreneurship Education
• 2.9 Crisis and Resilience Entrepreneurship
• 2.10 E-Commerce and Online Entrepreneurship

Entrepreneurship lights the spark of economic growth and paves the path for innovation. In the business world, it stands as a vital force, driving change and offering opportunities for research into its many facets. The study of start-ups opens a window into the strategies, challenges, and successes that shape the business landscape. It is an arena rich with diverse topics, each promising insights into the entrepreneurial journey. From the analysis of startup culture to the exploration of social enterprise, research papers on entrepreneurship delve into the mechanics of business creation and development. They also study entrepreneurs’ personalities and the economic systems that help or hurt businesses.

In What Areas Can You Choose Research Topic on Entrepreneurship?

Entrepreneurship fuels business growth and sparks new ideas. It’s a key driver in the business world, pushing for change and offering many areas to explore. Looking into entrepreneurship research topics is like peeking into how businesses start and grow, their challenges, and what makes them succeed. This field is packed with various subjects for study, each shedding light on different parts of the entrepreneurial path. Whether it’s digging into how new companies shake things up or how businesses that do good manage to make money, papers on entrepreneurship topics tackle how businesses get off the ground and what helps or hinders their journey. When you dive into writing a report on these topics, you’re set to discover tales of grit, fresh ideas, and the big changes that entrepreneurs bring to the business world.

Best Topics for Entrepreneurship Research Papers

Exploring the best topics in entrepreneurship research papers reveals a world where innovative ideas meet the rigors of academic scrutiny, setting the stage for groundbreaking studies in the vibrant realm of business ventures.

Entrepreneur Topics about Mindset

An entrepreneurial mindset is the bedrock of business innovation, a mental toolkit that combines risk-taking with creative problem-solving. It empowers individuals to embrace challenges and seize opportunities in the relentless pursuit of success.

• The Role of Resilience in Nurturing an Entrepreneurial Mindset.
• Growth Mindset: The Fuel for Entrepreneurial Innovation.
• Decision-Making Processes of Successful Entrepreneurs.
• The Impact of Risk Tolerance on Entrepreneurial Success.
• Leveraging Digital Marketing for New Entrepreneurial Ventures.
• The Psychology Behind Entrepreneurial Motivation and Persistence.
• Networking and Relationship-Building in Developing an Entrepreneurial Mindset.
• The Influence of Mentorship on Shaping Entrepreneurial Attitudes.
• Overcoming Fear of Failure in Entrepreneurial Ventures.
• The Key to an Entrepreneur’s Continuous Growth.

Entrepreneurial Finance

Entrepreneurial finance is the cornerstone of turning innovative ideas into viable businesses, providing the lifeblood for growth and development. It spans a spectrum of strategies and resources that entrepreneurs must navigate to fund their ventures and fuel their ambitions.

• Venture Capital Trends in Modern Entrepreneurial Finance.
• Securing Angel Investment for Tech Startups.
• Financial Bootstrapping Methods for Startups.
• The Role of Fintech in Shaping Entrepreneurial Financial Strategies.
• Sustainable Finance Models for Social Entrepreneurship Ventures.
• Exit Strategies: Evaluating the Endgame in Entrepreneurial Finance.
• The Impact of Global Economic Policies on Entrepreneurial Funding.
• Cryptocurrency and Blockchain: Emerging Frontiers in Entrepreneur Finance.
• The Intersection of Intellectual Property and Finance for Entrepreneurs.
• Gender Perspectives in Entrepreneurial Fundraising: Overcoming the Capital Gap.

Entrepreneurial Marketing

Entrepreneurial marketing stands at the crossroads where inventive strategies meet market needs, a vital area for those looking to make a mark in the business world. These entrepreneurship research paper topics delve into unconventional marketing tactics that have reshaped industries and consumer behavior.

• The Role of Viral Marketing in Startup Success: A Case Study Approach.
• Leveraging User-Generated Content for Brand Building: An Emerging Entrepreneurship Research Paper Topic.
• The Efficacy of Influencer Partnerships in Entrepreneurial Marketing Campaigns.
• Sustainability and Green Marketing: An Entrepreneurial Perspective.
• Grassroots Marketing Techniques for Bootstrapped Startups.
• The Impact of Augmented Reality on Consumer Engagement in Entrepreneurial Ventures.
• Niche Marketing: Tailoring Solutions for Specific Markets in Entrepreneurship.
• The Evolution of Content Marketing in the Digital Entrepreneurship Era.
• Ethical Marketing Practices: Building Trust in New Ventures.
• Analyzing the Effectiveness of Social Media Advertising in Entrepreneurial Settings.

Social Entrepreneurship

Social enterprise fuses the drive for business innovation with a commitment to solving societal issues, representing a nexus where profit meets purpose. These entrepreneurship titles invite exploration into how enterprises can effect real and sustainable change in the community and beyond.

• Measuring Impact: Evaluating Social Return on Investment in Social Ventures.
• Social Entrepreneurship Models: A Comparative Analysis of Global Initiatives.
• The Role of Non-Profit Organizations in Pioneering Social Entrepreneurship Trends.
• Corporate Social Responsibility (CSR) vs. Social Entrepreneurship: Delineating the Differences.
• Social Enterprise Startups: Challenges and Strategies for Scalability.
• The Influence of Technology on Social Entrepreneurship Outcomes.
• Grassroots Movements: The Birthplace of Disruptive Social Entrepreneurship Ideas.
• Cross-Sector Partnerships: Enhancing the Efficacy of Social Entrepreneurial Projects.
• Funding Social Innovation: A Look at Alternative Finance Models.
• The Power of Storytelling in Social Entrepreneurship Branding and Outreach.

Innovation and Technology Entrepreneurship

Innovation and technology entrepreneurship represent the cutting edge of modern business practices, where breakthroughs in science and digital advancements lead to new market opportunities. These entrepreneurship research papers delve into the synthesis of inventive tech and business savvy, charting the course for future industry leaders.

• Artificial Intelligence Startups: Disrupting Traditional Marketplaces.
• The Internet of Things (IoT): Crafting Connected Solutions in Tech Entrepreneurship.
• Blockchain for Business: Beyond Cryptocurrency to Innovation.
• The Rise of EdTech: Transforming Education through Entrepreneurial Ventures.
• HealthTech Innovations: Entrepreneurship at the Frontline of Medical Technology.
• Green Tech Entrepreneurship: Sustainable Solutions for Environmental Challenges.
• The Gig Economy and Tech Entrepreneurship: A Synergistic Relationship.
• Cybersecurity Ventures: A Look at Entrepreneurial Opportunities in Protecting Digital Assets.
• The Role of 3D Printing in Manufacturing Entrepreneurship.
• Space Tech Entrepreneurship: The New Frontier for Business Innovation.

Small Business Management and Entrepreneurship

Small business management and entrepreneurs are the engines of economic dynamism, adapting swiftly to the current trends in entrepreneurship. These topics explore the myriad strategies that small businesses employ to thrive and the entrepreneurial spirit that drives their growth and resilience.

• Navigating the Challenges of Small Business Digital Transformation.
• Localized Marketing Tactics for Small Business Entrepreneurs.
• The Impact of E-Commerce on Traditional Small Business Models.
• Strategies for Small Business Survival in a Post-Pandemic Economy.
• Exploring the Benefits of Co-operative Business Models in Modern Entrepreneurship.
• The Role of Community Support in Small Business Success.
• Analyzing the Shift Towards Remote Work in Small Business Settings.
• The Adoption of Sustainable Practices in Small Scale Enterprises.
• The Effect of Consumer Trends on Small Business Product Development.
• Small Business Financial Management: Adapting to the New Norms of Entrepreneurial Finance.

Sustainable Entrepreneurship

Sustainable entrepreneurship marries the principles of environmental and social stewardship with business acumen, targeting long-term prosperity and responsibility. These topics spotlight the strategies and models that sustainably-minded businesses use to innovate while honoring their commitment to the planet and society.

• Circular Economy Business Models and Their Impact on Sustainability.
• The Role of Renewable Energy in Sustainable Entrepreneurial Ventures.
• Assessing the Viability of Organic Farming in Sustainable Business.
• Eco-friendly Packaging Solutions: A Study in Sustainable Entrepreneurship.
• Corporate Social Responsibility (CSR) Initiatives in Small and Medium Enterprises.
• The Influence of Sustainable Tourism on Local Entrepreneurial Activities.
• Green Technology Investments as a Strategy for Sustainable Entrepreneurship.
• Sustainable Supply Chain Management for Entrepreneurial Success.
• Social Impact Bonds: Financing Tools for Sustainable Entrepreneurs.
• The Evolution of Consumer Behavior Towards Sustainable Products and Its Implications for Entrepreneurs.

Entrepreneurship Education

Entrepreneurship education equips aspiring business leaders with the tools and mindset to innovate and excel in today’s competitive markets. This field of study blends practical skills with theoretical knowledge, creating a fertile ground for cultivating the entrepreneurs of tomorrow.

• The Impact of Online Learning Platforms on Entrepreneurial Skill Development.
• Cross-disciplinary Approaches to Teaching Entrepreneurship.
• The Role of Business Plan Competitions in Entrepreneurship Education.
• Mentoring in Entrepreneurship: Building Bridges between Theory and Practice.
• Gamification as a Teaching Tool in Entrepreneurship Courses.
• Measuring the Effectiveness of Entrepreneurship Education Programs.
• Entrepreneurial Thinking in Non-Business Disciplines.
• The Globalization of Entrepreneurship Education: Challenges and Opportunities.
• Incorporating Ethics and Social Responsibility in Entrepreneurship Curricula.
• The Influence of Student-led Ventures on Entrepreneurial Learning Outcomes.

Crisis and Resilience Entrepreneurship

Crisis and resilience entrepreneurship examines how businesses navigate through turbulence and bounce back stronger, turning challenges into opportunities. These topics delve into the strategies that enable entrepreneurs to withstand adversity and emerge with innovative solutions.

• Startups in Times of Economic Downturn: Survival Strategies.
• Building Resilient Supply Chains in Entrepreneurial Ventures.
• The Role of Agile Management in Crisis Adaptation for Small Businesses.
• Entrepreneurial Leadership During Uncertain Times.
• Crisis Communication: Maintaining Stakeholder Trust in Entrepreneurial Firms.
• Financial Risk Management for Entrepreneurs in Volatile Markets.
• The Impact of Global Health Crises on Entrepreneurial Business Models.
• Leveraging Digital Transformation for Crisis Resilience in Entrepreneurship.
• Entrepreneurial Ecosystems: Support Networks for Business Continuity.
• Post-Crisis Growth: Strategies for Entrepreneurial Renewal.

E-Commerce and Online Entrepreneurship

E-commerce and online entrepreneurship are revolutionizing the way we do business, breaking down geographical barriers and opening new avenues for growth. These topics explore the innovative strategies and challenges of conducting business in the digital realm.

• Personalization Tactics in Online Retail Startups.
• Cybersecurity Measures for Small E-Commerce Businesses.
• Mobile Commerce: The Next Frontier for Digital Entrepreneurs.
• Social Media Influence on Online Consumer Behavior.
• The Gig Economy’s Role in Shaping E-Commerce Trends.
• Subscription Model Success: Lessons for Online Entrepreneurs.
• Cross-border E-Commerce: Expansion Strategies for Online Businesses.
• E-Commerce Logistics: Innovations in Fulfillment and Delivery.
• The Rise of Online Marketplaces: A Study in Digital Entrepreneurship.
• Customer Service Excellence in E-Commerce Ventures.

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