Mission over money? Investigating the life satisfaction of young social versus commercial entrepreneurs

Purpose This study aims to compare social entrepreneurs (n = 72), commercial entrepreneurs (n = 116) and an equal-sized control group of non-entrepreneurs regarding their life satisfaction and evaluate mediating drivers specific to distinct types of entrepreneurs (i.e. subjective financial success, meaning and purpose, psychological accomplishment). Design/methodology/approach Social entrepreneurs aim to create a better life for others, but does it also make them happier as well? This study investigates life satisfaction differences between social entrepreneurs, commercial entrepreneurs and non-entrepreneurs. While previous studies have shown that entrepreneurial activity is positively related to subjective well-being, the heterogeneity among entrepreneurs has been largely overlooked. As social and commercial entrepreneurs differ strongly in their approach to business creation, this study investigates the distinct mechanisms that lead to life satisfaction differences between social and commercial entrepreneurs. Findings The results indicate that social entrepreneurs have a significantly higher life satisfaction than their commercial counterparts. However, there was no significant difference in life satisfaction between entrepreneurs and non-entrepreneurs. Furthermore, the study found different mediating processes for the effect of autonomy on entrepreneurs’ life satisfaction. Originality/value This research questions the generalizability of entrepreneurs’ life satisfaction by highlighting the nuanced differences between social and commercial entrepreneurs. It emphasizes not only the complexity of the entrepreneurship-well-being nexus, but also the exclusive benefits of social entrepreneurship for life satisfaction.