• The Impact of COVID-19 on Entrepreneurial Well-Being: Examining Psychological Capital

      Forrester, Juanita; Waldman, Isaac (2021)
      For entrepreneurs, the global pandemic that swept through the United States in 2020 introduced a new set of uncertainties and challenges. Stay-at-home restrictions took a toll on the economy, and a drastic decline in consumer spending forced many small businesses to shut down or pivot to adapt to a changing society. This study seeks to examine the impact of COVID-19 on the subjective well-being of surviving entrepreneurs across several sectors of business. We focus specifically on the role of psychological capital, which includes hope, resilience, optimism, and efficacy, as a personal asset that supports entrepreneurs� overall well-being in the face of ongoing obstacles. We predict that for entrepreneurs, psychological capital mediates the relationship between pandemic-related stressors and subjective well-being. We explore these predictions by surveying a sample of local entrepreneurs. Preliminary results and implications for entrepreneurial well-being will be discussed.