Psychosocial Wellbeing of Entrepreneurs

Abstract

Entrepreneurship engages every aspect of the entrepreneur's being in conducting work and engaging with family life. The entrepreneurial process, from beginning to completion, comprises transition stages, which are all distinctively stressful. Unlike people who are employees in the public or private sectors of any economy, the entrepreneur may not be able to draw boundaries between business life and family life as their business traverses both domains. These scholars argue that the resultant effect of the boundary-crossing activities of the entrepreneur will result in stress and conversely affect their psychosocial well-being. Amid their entrepreneurial activities and family responsibilities, the chaos unfolding opens the entrepreneur to needing balance. This chapter explores the role that business-family life strategies and social support could play in assisting entrepreneurs to achieve and maintain psychosocial well-being. The findings of the chapter from the review of extant literature will have practical and theoretical implications.