Research in the International Journal of Entrepreneurship and Small Business suggests that entrepreneurship may be far more than a vehicle for economic growth. Two back-to-back studies show that entrepreneurial thinking, especially in how individuals perceive and respond to challenges, can also foster psychological resilience and enhance personal well-being. The findings suggest that we should redefine the value of entrepreneurship in society as it could have implications for education, policy, and development strategies.
One study, drawing on case analyses from entrepreneurs in Vietnam and Japan, introduces the idea of “partial constraint”, which is a departure from conventional views that treat obstacles like supply shortages or policy hurdles as uniformly restrictive. Instead, the study dissects what constraints have an effect on entrepreneurs and which do not, and shows how they can selectively isolate and recombine different factors to open up new business solutions. This allows entrepreneurs not only to continue operating under pressure, but also to build a sense of agency, resilience. The study shows that resilience isn’t a fixed personality trait but can be cultivated through problem-solving and resourcefulness.
The other study looks at the relationship between entrepreneurial cognition and subjective well-being. Traditionally, entrepreneurship has been linked to economic indicators: job creation, innovation, and contribution to gross domestic product. This latest research questions the assumption that well-being is merely a by-product of entrepreneurial success. Indeed, the findings suggest that “entrepreneurial thinking” itself, marked by traits such as optimism, creativity, perseverance, and comfort with uncertainty, may directly contribute to life satisfaction and happiness.
Entrepreneurs often face unpredictable and high-pressure environments, but those who think entrepreneurially interpret such challenges as opportunities rather than threats. This cognitive reframing appears to foster a sense of meaning and control, both central to psychological well-being.
Together, the two studies challenge prevailing assumptions in both economic and psychological domains. They argue for a new definition of entrepreneurial success, one that includes mental and emotional outcomes.
The work could have implications for policymakers, especially in countries facing high youth unemployment or systemic inequality. The findings suggest that promoting entrepreneurship could serve two purposes: economic empowerment and psychological resilience. Entrepreneurship could be strategically positioned not just as a livelihood option, but as a tool for strengthening mental health and community adaptability.
Nguyen, N.C., Matta, D., Hasnaoui, J.A., Lodorfos, G. and Matta, R. (2025) ‘Dynamic resource analysis and the development of psychological resilience: an entrepreneurial perspective’, Int. J. Entrepreneurship and Small Business, Vol. 55, No. 6, pp.1–19.
Nguyen, N.C., Hasnaoui, J.A., Lodorfos, G., Matta, D. and Laine, I. (2025) ‘Resilience, optimism, and entrepreneurial well-being: a review and research agenda’, Int. J. Entrepreneurship and Small Business, Vol. 55, No. 6, pp.20–40.