Entrepreneurial intention of students in Bosnia and Herzegovina: what type of support matters?

The study conducted by Lejla Turulja, Ljiljan Veselinovic, Emir Agic, and Azra Pasic-Mesihovic found that informal support, specifically from family and friends, has a significant positive impact on entrepreneurial intentions. This type of support is perceived as crucial in shaping students' attitudes toward entrepreneurship. In contrast, fear of failure has a significant adverse impact on entrepreneurial intentions. Students who fear failure are less likely to pursue entrepreneurial ventures. However, the study reveals that entrepreneurial capacity enhances entrepreneurial intention, indicating that students with higher entrepreneurial capacity are more inclined to start their own businesses. The relationship between fear of failure and entrepreneurial intention is also moderated by informal support, suggesting that support from family and friends can mitigate the negative effects of fear of failure on entrepreneurial intentions. The study's findings are consistent with the existing literature on entrepreneurial intention, which emphasizes the importance of social norms, support, and capacity in shaping entrepreneurial attitudes. The results of this study have implications for policymakers and educators seeking to promote entrepreneurship among students in Bosnia and Herzegovina. By providing informal support and fostering entrepreneurial capacity, educators and policymakers can encourage students to pursue entrepreneurial ventures and develop a more entrepreneurial mindset. The study's methodology involved an empirical analysis of students in Bosnia and Herzegovina, using a survey to collect data on entrepreneurial intentions, perceived support, entrepreneurial capacity, and fear of failure. The results were then confronted with an ex-post literature review to validate the findings. The study's conclusions highlight the significance of informal support and entrepreneurial capacity in shaping entrepreneurial intentions among students in Bosnia and Herzegovina. The study's findings also have implications for the development of entrepreneurship education programs in Bosnia and Herzegovina. By incorporating elements of informal support and entrepreneurial capacity into these programs, educators can better equip students with the skills and attitudes necessary to pursue entrepreneurial ventures. Furthermore, policymakers can develop targeted initiatives to promote entrepreneurship among students, including providing access to informal support networks and entrepreneurial training programs.