Do Entrepreneurial Motivation, Personality, and Social Networking Improve Financial Access in India?
DOI:
https://doi.org/10.17010/pijom/2025/v18i8/173732Keywords:
entrepreneurial behavior, financial access, motivation, personality, social networking.JEL Classification Codes : L25, L26, M30
Publication Chronology: Paper Submission Date : August 20, 2024 ; Paper sent back for Revision : June 19, 2025 ; Paper Acceptance Date : June 25, 2025 ; Paper Published Online : August 14, 2025
Abstract
Purpose : Social networking has had an immense influence on entrepreneurial success. The present study examined the mediating effect of social networking on the associations between motivation and personality factors, as well as financial access among startups in India.
Methodology : A cross-sectional quantitative survey was conducted in the Bangalore and Delhi NCR regions of India to collect data from 376 entrepreneurs. The data were analyzed via SmartPLS 4 software.
Findings : The results indicated that social networking had a substantial influence on financial access in entrepreneurial startups. Personality traits, such as neuroticism, had a direct effect on social networking and financial access. Social networking mediated the relationship between neuroticism and access to finance.
Practical Implications : Entrepreneurs should improve their social networking ties and connections and leverage them strategically to obtain more funds.
Originality : This study examined the combined effects of the motivational and personality factors of entrepreneurs, which is unique to social networking and financial access in start-ups. It contributes new knowledge to the entrepreneurial literature, especially in the Indian context.
Downloads
Published
How to Cite
Issue
Section
References
1) Acs, Z. J., & Audretsch, D. B. (2014). The role of entrepreneurship in economic growth. In Handbook of entrepreneurship research (pp. 1–21). Springer.
2) Aggarwal, V. (2019). A conceptual study on factors of entrepreneurial potentiality and their impact on entrepreneurial intention with the moderating role of entrepreneurship education. Prabandhan: Indian Journal of Management, 12(6), 7–19. https://doi.org/10.17010/pijom/2019/v12i6/144932
3) Albourini, F., Ahmad, A. M., Abuhashesh, M., & Nusairat, N. M. (2020). The effect of networking behaviors on the success of entrepreneurial startups. Management Science Letters, 10(11), 2521–2532. https://doi.org/10.5267/j.msl.2020.3.043
4) Alstete, J. W. (2002). On becoming an entrepreneur: An evolving typology. International Journal of Entrepreneurial Behavior and Research, 8(4), 222–234. https://doi.org/10.1108/13552550210436521
5) Anderson, A. R., Dodd, S. D., & Jack, S. (2010). Network practices and entrepreneurial growth. Scandinavian Journal of Management, 26(2), 121–133. https://doi.org/10.1016/j.scaman.2010.01.005
6) Antoncic, B., Bratkovic Kregar, T., Singh, G., & DeNoble, A. F. (2015). The big five personality–entrepreneurship relationship: Evidence from Slovenia. Journal of Small Business Management, 53(3), 819–841. https://doi.org/10.1111/jsbm.12089
7) Babajide, A. A., Obembe, D., Solomon, H., & Woldesenbet, K. (2022). Microfinance and entrepreneurship: The enabling role of social capital amongst female entrepreneurs. International Journal of Social Economics, 49(8), 1152–1171. https://doi.org/10.1108/IJSE-11-2020-0745
8) Baluku, M. M., Kikooma, J. F., & Kibanja, G. M. (2016). Does personality of owners of micro enterprises matter for the relationship between startup capital and entrepreneurial success? African Journal of Business Management, 10(1), 13–23. https://doi.org/10.5897/AJBM2015.7738
9) Baran, W. (2018). Personality traits of an entrepreneur: Determinants of successful microenterprise in Ireland (Doctoral dissertation, National College of Ireland). https://norma.ncirl.ie/3371/1/wieslawabaran.pdf
10) Cassar, G. (2007). Money, money, money? A longitudinal investigation of entrepreneur career reasons, growth preferences and achieved growth. Entrepreneurship & Regional Development, 19(1), 89–107. https://doi.org/10.1080/08985620601002246
11) Chapman, G., & Hottenrott, H. (2024). Founder personality and start-up subsidies. Industry and Innovation, 31(2), 241–270. https://doi.org/10.1080/13662716.2023.2243235
12) Chatterjee, N., & Das, N. (2015). Key psychological factors as predictors of entrepreneurial success: A conceptual framework. Academy of Entrepreneurship Journal, 21(1), 102–121. https://www.researchgate.net/profile/Namrata-Chatterjee-2/publication/299404013
13) Chaudhury, S. K., Panigrahi, A., & Gaur, M. (2019). An empirical study of sources of early stage start-up funding for innovative startup firms: A study of five states of India. Indian Journal of Finance, 13(9), 48–57. https://doi.org/10.17010/ijf/2019/v13i9/147099
14) Chavadi, C. A., & Sirothiya, M. (2018). A discriminant model to assess the entrepreneurial talent of MBA students in Bangalore: An empirical study. Prabandhan: Indian Journal of Management, 11(6), 7–25. https://doi.org/10.17010/pijom/2018/v11i6/128439
15) Dudley, E. (2021). Social capital and entrepreneurial financing choice. Journal of Corporate Finance, 70, Article ID 102068. https://doi.org/10.1016/j.jcorpfin.2021.102068
16) Eijdenberg, E. L., & Masurel, E. (2013). Entrepreneurial motivation in the least developed country: Push factors and pull factors among MSEs in Uganda. Journal of Enterprising Culture, 21(1), 19–43. https://doi.org/10.1142/S0218495813500027
17) Eniola, A. A., & Entebang, H. (2015). Small and medium business management-financial sources and difficulties. International Letters of Social and Humanistic Sciences, 58, 49–57. https://nbn-resolving.org/urn:nbn:de:101:1-2019072815023976541874
18) Fabris, J., Aoki, V. C., Machado, H. P., & Carvalho, C. E. (2021). Motivations for business networking and the effectuation-causation approach to entrepreneurship. Revista Ibero-Americana De Estratégia, 20(1), Article ID e17574. https://doi.org/10.5585/riae.v20i1.17574
19) Feiler, D. C., & Kleinbaum, A. M. (2015). Popularity, similarity, and the network extraversion bias. Psychological Science, 26(5), 593–603. https://doi.org/10.1177/0956797615569580
20) Felix, C., Aparicio, S., & Urbano, D. (2020). Entrepreneurial leadership across countries: The role of informal institutions. In J. M. Saiz-Álvarez, J. Leitão & J. M. Palma-Ruiz (eds.), Entrepreneurship and family business vitality. Studies on entrepreneurship, structural change and industrial dynamics (pp. 67–83). Springer. https://doi.org/10.1007/978-3-030-15526-1_5
21) Fleeson, W., & Jayawickreme, E. (2015). Whole trait theory. Journal of Research in Personality, 56, 82–92. https://doi.org/10.1016/j.jrp.2014.10.009
22) Gugushvili, N., Karin, T., K., Schruff-Lim, E. M., Ruiter, R. A., & Verduyn, P. (2022). The association between neuroticism and problematic social networking sites use: The role of fear of missing out and self-control. Psychological Reports, 127(4), 1727–1750. https://doi.org/10.1177/00332941221142003
23) Hair Jr., J. F., Hult, G. T., Ringle, C. M., Sarstedt, M., Danks, N. P., & Ray, S. (2021). Partial least squares structural equation modeling (PLS-SEM) using R: A workbook. Springer Nature. https://doi.org/10.1007/978-3-030-80519-7
24) Isaga, N., Masurel, E., & Van Montfort, K. (2015). Owner-manager motives and the growth of SMEs in developing countries: Evidence from the furniture industry in Tanzania. Journal of Entrepreneurship in Emerging Economies, 7(3), 191–211. https://doi.org/10.1108/JEEE-11-2014-0043
25) Ismail, I. J. (2022). Entrepreneurial start-up motivations and growth of small and medium enterprises in Tanzania: The role of entrepreneur's personality traits. FIIB Business Review, 11(1), 79–93. https://doi.org/10.1177/23197145211068599
26) Jain, A. (2022). Perceiving the consumer's desire and transforming it into a business model: A case study of morning fresh, India's no. 1 hangover cure & detox drink. Indian Journal of Marketing, 52(9), 26–42. https://doi.org/10.17010/ijom/2022/v52/i9/171983
27) Jawabri, A. (2020). The impact of big-5 model leadership traits on team entrepreneurship: An empirical study of small businesses in the UAE. Management Science Letters, 10(3), 497–506. https://doi.org/10.5267/j.msl.2019.9.031
28) Jonsson, S. (2015). Entrepreneurs' network evolution – The relevance of cognitive social capital. International Journal of Entrepreneurial Behavior & Research, 21(2), 197–223. https://doi.org/10.1108/IJEBR-09-2013-0147
29) Kar, B., & Ahmed, Y. A. (2022). Exploring kin and family support to young firms in Ethiopia. African Journal of Economic and Management Studies, 13(3), 385–410. https://doi.org/10.1108/AJEMS-05-2021-0199
30) Kusumawijaya, I. K. (2019). The prediction of need for achievement to generate entrepreneurial intention: A locus of control mediation. International Review of Management and Marketing, 9(4), 54–62. https://doi.org/10.32479/irmm.8330
31) Landis, B. (2016). Personality and social networks in organizations: A review and future directions. Journal of Organizational Behavior, 37(S1), S107–S121. https://doi.org/10.1002/job.2004
32) Lang, F. R., John, D., Lüdtke, O., Schupp, J., & Wagner, G. G. (2011). Short assessment of the big five: Robust across survey methods except telephone interviewing. Behavior Research Methods, 43(2), 548–567. https://doi.org/10.3758/s13428-011-0066-z
33) Maheshwari, G., Kha, K. L., & Arokiasamy, A. R. (2023). Factors affecting students' entrepreneurial intentions: A systematic review (2005–2022) for future directions in theory and practice. Management Review Quarterly, 73, 1903–1970. https://doi.org/10.1007/s11301-022-00289-2
34) Mahmood, T. M., Al Mamun, A., Ahmad, G. B., & Ibrahim, M. D. (2019). Predicting entrepreneurial intentions and pre-start-up behaviour among Asnaf millennials. Sustainability, 11(18), 4939. https://doi.org/10.3390/su11184939
35) Malcolm, C., Saxton, T. K., McCarty, K., Roberts, S. G., & Pollet, T. V. (2021). Extraversion is associated with advice network size, but not network density or emotional closeness to network members. Personality and Individual Differences, 168, Article ID 110311. https://doi.org/10.1016/j.paid.2020.110311
36) Marciano, L., Camerini, A.-L., & Schulz, P. J. (2020). Neuroticism in the digital age: A meta-analysis. Computers in Human Behavior Reports, 2, Article ID 100026. https://doi.org/10.1016/j.chbr.2020.100026
37) McClelland, D. C. (1961). The achieving society. D Van Nostrand Company. https://doi.org/10.1037/14359-000
38) Mishra, A., & Singh, P. (2022). Attitude, subjective norms, and perceived behavioural control as predictors of entrepreneurial intentions among engineering students. Prabandhan: Indian Journal of Management, 15(5), 43–58. https://doi.org/10.17010/pijom/2022/v15i5/169580
39) Munshi, A., & Singla, A. R. (2022). Exploring key growth drivers and strategies for enhancing performance of Indian food tech startups. Indian Journal of Marketing, 52(1), 42–57. https://doi.org/10.17010/ijom/2022/v52/i1/159847
40) Ndofirepi, T. M. (2020). Relationship between entrepreneurship education and entrepreneurial goal intentions: Personality traits as mediators. Journal of Innovation and Entrepreneurship, 9(1), Article no. 2. https://doi.org/10.1186/s13731-020-0115-x
41) Obschonka, M., Silbereisen, R. K., & Schmitt-Rodermund, E. (2012). Explaining entrepreneurial behavior: Dispositional personality traits, growth of personal entrepreneurial resources, and business idea generation. The Career Development Quarterly, 60(2), 178–190. https://doi.org/10.1002/j.2161-0045.2012.00015.x
42) Omrane, A. (2015). Entrepreneurs' social capital and access to external resources: The effects of social skills. International Journal of Entrepreneurship and Small Business, 24(3), 357–382. https://doi.org/10.1504/IJESB.2015.067463
43) Patel, P. C., & Thatcher, S. M. (2012). Sticking it out: Individual attributes and persistence in self-employment. Journal of Management, 40(7), 1932–1979. https://doi.org/10.1177/0149206312446643
44) Perry, B. L., & Pescosolido, B. A. (2010). Functional specificity in discussion networks: The influence of general and problem-specific networks on health outcomes. Social Networks, 32(4), 345–357. https://doi.org/10.1016/j.socnet.2010.06.005
45) Pinkovetskaia, I. S. (2022). Features of the termination of their activities by entrepreneurs in 2020. Review of Business, 42(1), 41–55. https://www.proquest.com/openview/1fc0a8c9c17e337351fd8aa36f3f2c38/1?pq-origsite=gscholar&cbl=36534
46) Press Information Bureau. (2023). Economic survey 2022–2023. Government of India. https://www.pib.gov.in/Pressreleaseshare.aspx?PRID=1894932
47) Rajan, S., & Panicker, S. (2020). The concept of entrepreneurial ability—Evidence from women in MSMEs of Karnataka state. International Journal of Entrepreneurship and Small Business, 41(1), 1–32. https://doi.org/10.1504/ijesb.2020.10031523
48) Rauch, A., Rosenbusch, N., Unger, J., & Frese, M. (2016). The effectiveness of cohesive and diversified networks: A meta-analysis. Journal of Business Research, 69(2), 554–568. https://doi.org/10.1016/j.jbusres.2015.05.011
49) Rosa, P., & Dawson, A. (2006). Gender and the commercialization of university science: Academic founders of spinout companies. Entrepreneurship & Regional Development, 18(4), 341–366. https://doi.org/10.1080/08985620600680059
50) Sarfraz, M., Abdullah, M. I., Mumtaz, N., Ibn-Ul-Hassan, S., & Ozturk, I. (2023). The effect of entrepreneurs' personality on entrepreneurial marketing in textile sector: The mediating role of self-efficacy. Industria Textila, 74(2), 230–237. https://doi.org/10.35530/IT.074.02.202179
51) Schultz-Jones, B. (2009). Examining information behavior through social networks: An interdisciplinary review. Journal of Documentation, 65(4), 592–631. https://doi.org/10.1108/00220410910970276
52) Selden, M., & Goodie, A. S. (2018). Review of the effects of five factor model personality traits on network structures and perceptions of structure. Social Networks, 52, 81–99. https://doi.org/10.1016/j.socnet.2017.05.007
53) Semrau, T., & Sigmund, S. (2012). Networking ability and the financial performance of new ventures: A mediation analysis among younger and more mature firms. Strategic Entrepreneurship Journal, 6(4), 335–354. https://doi.org/10.1002/sej.1146
54) Semrau, T., & Werner, A. (2014). How exactly do network relationships pay off? The effects of network size and relationship quality on access to start–up resources. Entrepreneurship Theory and Practice, 38(3), 501–525. https://doi.org/10.1111/etap.12011
55) Sengupta, A. (2011). Network strategy and access to business finance: Indian entrepreneurs in the information and communication technology industry. The Journal of Entrepreneurship, 20(1), 103–126. https://doi.org/10.1177/097135571002000105
56) Shandilya, S. (2022). Testing the relationship between entrepreneurial intention and its antecedents on university students using PLS-SEM. Prabandhan: Indian Journal of Management, 15(8), 24–41. https://doi.org/10.17010/pijom/2022/v15i8/171524
57) Shane, S., & Nicolaou, N. (2013). The genetics of entrepreneurial performance. International Small Business Journal, 31(5), 473–495. https://doi.org/10.1177/0266242613485767
58) Sharafizad, J. (2014). The networking behaviour of women small business owners (Doctoral dissertation, Edith Cowan University). https://ro.ecu.edu.au/theses/1422
59) Sharafizad, J., & Coetzer, A. (2016). The networking interactions of Australian women small business owners. Small Enterprise Research, 23(2), 135–150. https://doi.org/10.1080/13215906.2016.1221362
60) Sharma, K., & Mathur, H. P. (2022). Contextualizing sustainability with reference to startups. Prabandhan: Indian Journal of Management, 15(7), 8–23. https://doi.org/10.17010/pijom/2022/v15i7/170788
61) Sharma, S., & Goyal, D. P. (2020). Entrepreneurial marketing strategies for small businesses: An exploratory study of start-up companies in India. Indian Journal of Marketing, 50(8–9), 48–65. https://doi.org/10.17010/ijom/2020/v50/i8-9/154691
62) Shava, H., & Chinyamurindi, W. T. (2019). The influence of economic motivation, desire for independence and self-efficacy on willingness to become an entrepreneur. The Southern African Journal of Entrepreneurship and Small Business Management, 11(1), 1–12. https://doi.org/10.4102/sajesbm.v11i1.234
63) Singh, S., & Basri, S. (2024). Antecedents of entrepreneurial networking behavior and its impact on business performance - A systematic literature review. F1000Research, 13, Article 794. https://doi.org/10.12688/f1000research.150032.1
64) Steiner, C., Jeszenszky, P., Stebler, V., & Leemann, A. (2023). Extraverted innovators and conscientious laggards? Investigating effects of personality traits on language change. Language Variation and Change, 35(1), 1–28. https://doi.org/10.1017/S0954394523000091
65) Watson, D., Clark, L. A., & Harkness, A. R. (1994). Structures of personality and their relevance to psychopathology. Journal of Abnormal Psychology, 103(1), 18–31. https://doi.org/10.1037/0021-843X.103.1.18
66) Wilson, F., Marlino, D., & Kickul, J. (2004). Our entrepreneurial future: Examining the diverse attitudes and motivations of teens across gender and ethnic identity. SSRN. https://ssrn.com/abstract=1507583
67) Wolff, H.-G., & Kim, S. (2012). The relationship between networking behaviors and the big five personality dimensions. Career Development International, 17(1), 43–66. https://doi.org/10.1108/13620431211201328
68) Ying, T., & Norman, W. C. (2014). Personality effects on the social network structure of boundary-spanning personnel in the tourism industry. Journal of Hospitality & Tourism Research, 41(5), 515–538. https://doi.org/10.1177/1096348014538047
69) Zastempowski, M. (2024). Shaping sustainable futures: The role of microentrepreneurs' personality traits in social innovations. PLoS ONE, 19(8), Article ID e0306800. https://doi.org/10.1371/journal.pone.0306800
70) Zhao, L., & Jung, H.-B. (2018). The winning personality: Impact of founders' personality traits and firms' network relationships on Chinese apparel new venture performance. International Journal of Entrepreneurial Behavior & Research, 24(2), 553–573. https://doi.org/10.1108/ijebr-09-2016-0281
71) Zheng, X., Yang, Y., Zhang, Q., & Yang, J. (2023). Linking entrepreneurial learning to entrepreneurial competencies: The moderating role of personality traits. Current Psychology, 42(14), 11597–11612. https://doi.org/10.1007/s12144-021-02465-1
72) Zhu, X., Woo, S. E., Porter, C., & Brzezinski, M. (2013). Pathways to happiness: From personality to social networks and perceived support. Social Networks, 35(3), 382–393. https://doi.org/10.1016/j.socnet.2013.04.005