Influence of Knowledge and Failure Experience on Entrepreneurial Intentions in East African Businesses

Siri Roland Xavier and Abeid Omar Salim
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Siri Roland Xavier: Universiti Tun Abdul Razak
Abeid Omar Salim: Universiti Tun Abdul Razak

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 12, 2370-2384

Abstract: This thesis explores the entrepreneurial intentions that emerge during the post-failure phase, highlighting the valuable role of accessible information about business failure, personal experiences, and demonstrated knowledge. The research aims to uncover how these factors positively influence entrepreneurs’ decisions to embark on new ventures following prior setbacks. Grounded in the Theory of Planned Behavior (TPB), the study seeks to provide compelling empirical evidence that an awareness of business failure can significantly enhance the knowledge and resilience of individuals currently managing a business and those aspiring to start a new one. The study utilised convenience sampling and collected 1,080 valid responses from three countries: Rwanda (540), Tanzania (270), and Kenya (270). It targeted businesspeople with prior experience in founding or managing new ventures. The findings indicate a constructive relationship between awareness of business failure and the intentions of current business owners, demonstrating that this awareness can bolster their skills and determination. Ultimately, the study underscores the importance of learning from past experiences to foster a stronger entrepreneurial spirit among both established entrepreneurs and newcomers to the business world.

Date: 2024
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