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Economic adjustment strategies of self-employed individuals during essential crises: The case of complementary paid jobs

  • Research on entrepreneurs combining their own start-ups with wage work—often referred to as hybrid or part-time entrepreneurship—has primarily focused on employees (temporarily) retaining their wage jobs while (gradually) transitioning into entrepreneurship. During crises, however, entrepreneurs seeking to ensure survival of their existing ventures may strive to supplement self-employment with entry into wage jobs. Specifically, we hypothesize that such crisis-coping may facilitate venture survival through two separate pathways, an income-portfolio-driven one and one geared towards business model testing. The latter effect is contingent upon the degree of uncertainty regarding the business model change. We test these hypotheses empirically against the backdrop of the Covid-19 crisis using a sample of more than 10.000 German self-employed individuals. The results largely support our hypotheses and overall offer interesting implications for both future research as well as policymakers seeking to support small businesses during crisisResearch on entrepreneurs combining their own start-ups with wage work—often referred to as hybrid or part-time entrepreneurship—has primarily focused on employees (temporarily) retaining their wage jobs while (gradually) transitioning into entrepreneurship. During crises, however, entrepreneurs seeking to ensure survival of their existing ventures may strive to supplement self-employment with entry into wage jobs. Specifically, we hypothesize that such crisis-coping may facilitate venture survival through two separate pathways, an income-portfolio-driven one and one geared towards business model testing. The latter effect is contingent upon the degree of uncertainty regarding the business model change. We test these hypotheses empirically against the backdrop of the Covid-19 crisis using a sample of more than 10.000 German self-employed individuals. The results largely support our hypotheses and overall offer interesting implications for both future research as well as policymakers seeking to support small businesses during crisis periods.show moreshow less

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Author: Thomas Hermanns, Diemo UrbigORCiD, Jörn Block, Katrin Muehlfeld
URL:https://www.researchgate.net/publication/379156381
URL:https://www.egos.org/jart/prj3/egos/main.jart?rel=de&reserve-mode=active&content-id=165850143499
Title of the source (English):39th EGOS Colloquium. Organizing for the good life: Between legacy and imagination, University of Cagliari July 6–8, 2023, Cagliari, Italy
Document Type:Conference publication peer-reviewed
Language:English
Year of publication:2023
Tag:Business model change; Crisis; Entrepreneurship; Hybrid entrepreneurship
Faculty/Chair:Fakultät 5 Wirtschaft, Recht und Gesellschaft / FG ABWL, insbesondere empirische Unternehmensforschung und Transformation
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