Stress in Business and Fear of Failure versus Entrepreneurs’ Personal and Financial Resources

Abstract

The present research aims to elucidate the relationships between entrepreneurial stress, fear of failure, and both psychological and fnancial resources. The study sample comprised entrepreneurs who owned either newly established businesses (enterprises registered for up to 42 months) or more established ventures (those registered for more than 42 months). In total, 349 participants were surveyed, of whom 155 were classifed as new entrepreneurs and 194 as mature entrepreneurs. The following tools were used: The SES Self-Esteem Scale developed M. Rosenberg, Generalised Self-Efcacy Scale (GSES) developed Schwarz and Jerusalem; Perceived Stress Scale PSS-10 developed by Cohen, Kamarcka, Mermeinstein, own questionnaire for measuring fear of failure, fnancial and sociodemographic variables. The fndings of this study support the division of the entrepreneurial sample into two cohorts based on business experience (up to 42 months and over 42 months). Psychological resources—specifcally, hope for success (with particular emphasis on the volitional component), self-esteem, and perceived self-efcacy — demonstrate signifcant associations with experienced stress and fear of failure. The results indicate that these psychological resources function as determinants of psychological stress.