Factors Influencing the Decision to Start a Business A Qualitative Analysis based on the Theory of Planned Behavior

Abstract:

This study investigates the factors influencing the decision to start a business, utilizing the Theory of Planned Behavior (TPB) as the theoretical framework. The central research question explores the determinants that drive individuals to transition into selfemployment. A qualitative research design was employed, where semi-structured interviews with twelve entrepreneurs from diverse industries were conducted. These interviews were analyzed using content analysis according to Mayring's approach. This method allowed the inductive development of categories that were linked to the TPB constructs: attitudes, subjective norms, and perceived behavioral control. The subsequent analysis revealed ten significant factors that shape entrepreneurial intention, including influences from the social environment, economic background, external recognition, external acknowledgment, materialistic values, education, an affinity for organization, experimentalism, and self-efficacy. These elements were linked to the TPB determinants: attitudes, subjective norms, and perceived behavioral control, offering a comprehensive understanding of how they interact to form entrepreneurial intentions. The research expands the TPB by identifying antecedent components that enhance its explanatory power in the context of entrepreneurship. The implications of this study are twofold: from a theoretical stance, it enriches the TPB by integrating factors specific to entrepreneurial decision-making; from a practical stance, it provides insights for policymakers and educational authorities to foster entrepreneurship through targeted support and incentives. Altogether, this study contributes to the broader understanding of entrepreneurial intentions, offering a nuanced perspective on the factors facilitating the decision to start a business.