Journal article

Authors list: Otrachshenko, Vladimir; Popova, Olga; Nikolova, Milena; Tyurina, Elena

Publication year: 2022

Journal: Technology in Society

Volume number: 71

ISSN: 0160-791X

eISSN: 1879-3274

Open access status: Green

DOI Link: https://doi.org/10.1016/j.techsoc.2022.102093

Publisher: Elsevier

Abstract: 
We theoretically and empirically examine how acquiring new skills and increased financial worries influenced entrepreneurship entry and exit intentions during the pandemic. To that end, we analyze primary individual-level survey data we collected in the aftermath of the COVID-19's first wave in Russia, which has had one of the highest COVID-19 infection rates globally. Our results show that acquiring new skills during the pandemic helped owners keep their existing businesses and encouraged start-ups in sectors other than information technology (IT). For IT start-ups, having previous experience matters more than new skills. While the pandemic-driven financial worries are associated with business closure intentions, they also inspire new business start-ups, highlighting the pandemic's creative destruction power. Furthermore, preferences for formal employment and remote work also matter for entrepreneurial intentions. Our findings enhance the understanding of entrepreneurship formation and closure in a time of adversity and suggest that implementing entrepreneurship training and upskilling policies during recurring waves of the COVID-19 pandemic can be an important policy tool for innovative small business development.

Harvard Citation style: Otrachshenko, V., Popova, O., Nikolova, M. and Tyurina, E. (2022) COVID-19 and entrepreneurship entry and exit: Opportunity amidst adversity, Technology in Society, 71, Article 102093. https://doi.org/10.1016/j.techsoc.2022.102093

APA Citation style: Otrachshenko, V., Popova, O., Nikolova, M., & Tyurina, E. (2022). COVID-19 and entrepreneurship entry and exit: Opportunity amidst adversity. Technology in Society. 71, Article 102093. https://doi.org/10.1016/j.techsoc.2022.102093