Determinants of the Entrepreneurial Initiative during a Pandemic: The Case of Plovdiv

Abstract

The COVID-19 pandemic is a trying time for both businesses and citizens. The measures and restrictions were devastating for the economy. As different countries had their strengths and challenges in dealing with the pandemic, there no unified approach applicable to every context. However, the entrepreneurial initiative is what boosts the economic development in each free market economy. The current paper’s goal is to evaluate how the pandemic affects entrepreneurial initiatives and to determine the degree to which three sets of elements influence these initiatives. The scope of the research is enterprises, working in the city of Plovdiv, Bulgaria, and the focus is the entrepreneurial initiative among them. The research with the enterprises is based only on a quantitative method—a survey across a representative sample of the general population of the enterprises whose headquarters are registered in the territory of the city of Plovdiv. The representative sample was selected as a random sample of 1000 companies (with an assumed response rate of about 10%), stratified by the size of the enterprise (number of employees) and by the field of economic activity. Statistical analysis was performed using the software product IBM SPSS version 26. The results show that the personal characteristics of the respondents are more relevant to the results rather than the specifics of the enterprise. The relevance of both work experience and ownership of the enterprise as preconditions that create opportunities for entrepreneurial initiatives during the global crisis offers a further empirical contribution. A key theoretical contribution of this study lies in finding evidence that innovativeness has a significant direct effect on behavioral intention to acquire new opportunities during crisis conditions.