The Influence of Family Dynamics on Entrepreneurial Intentions and Self-Efficacy

1.1 Background of the Study

In recent years, the interconnection between family dynamics and entrepreneurship has garnered increasing attention in both academic research and the business realm. As societal norms evolve, there's a growing acknowledgement of the need to explore how family exerts its influence on entrepreneurial intentions and actions (Bertrand & Scholar, 2006). Moreover, the Coronavirus (COVID-19) pandemic, a seismic event reshaping global economic landscapes, has accelerated the adoption of entrepreneurial practices out of necessity, thus underscoring the crucial roles of family support and adaptability in entrepreneurial success (Wang et al., 2023). These contemporary trends underscore the timeliness and relevance of the current exploration.

Entrepreneurship, a dynamic cornerstone of economic growth, emerges not solely from individual intentions and capabilities but also from the profound familial and societal contexts that envelop it. To grasp the multifaceted nature of entrepreneurship (Brush et al., 2009), understanding the intricate interplay between family dynamics, entrepreneurial intentions and self-efficacy becomes paramount. This chapter delves into this complex relationship, aspiring to shed light on the family's role in the entrepreneurial journey, the impact of family dynamics on business success and the influence of societal norms on these dynamics (Loi et al., 2021).