Assessing the influence of perceived competencies and self-efficacy on growth intentions during the entrepreneurial process

Purpose This research studies entrepreneurs’ growth intentions in the birth and persistence stage of the entrepreneurial process by considering how they are affected by changes in self-efficacy and the self-perceptions of two kinds of key entrepreneurial competencies: energizer and social competencies. Design/methodology/approach To test the hypotheses, a methodology based on partial least square was applied using data from a survey of two samples, one of nascent entrepreneurs and another of established entrepreneurs. This has allowed a multi-group analysis to be carried out. Findings In addition to confirming the critical role of self-efficacy as both a mediating and stable variable between perceived competencies and growth intentions during the entrepreneurial process, the most intriguing finding is that perceived energizer competencies have an increasing influence on growth intentions as nascent entrepreneurs transition into established entrepreneurs. Conversely, perceived social competencies significantly lose their direct influence but retain some indirect influence through self-efficacy. Practical implications On the one hand, policy-makers should reconsider their policy orientation beyond the usual practice of subsidizing the formation of start-ups and begin supporting growth-oriented firms to strengthen their weaknesses in social competencies. On the other hand, entrepreneurship education needs to reinforce new tools for developing social competencies. Originality/value This research contributes new insights into the entrepreneurial process and its determinants from a dynamic perspective. Specifically, it helps understand how self-efficacy and self-perceived competencies may evolve throughout the entrepreneurial process and their influence on entrepreneurial growth intentions, an area that has been scarcely explored in the existing literature.