Entrepreneurial intention and resilience: An experiment during the Covid-19 lockdown.

ABSTRACT

We study what profiles of individuals were the most likely to give up their entrepreneurial project at the beginning of the Covid-19 crisis. To do so, we run an experiment during the first lockdown in the United Kingdom. Our results show that the first months of the crisis have a sharp screening effect 63% of prospective entrepreneurs postpone or cancel their project in May 2020. Taste for risk or competition does not characterize those who stick to their project. Instead, low opportunity costs to continue and concern for one's own interest instead of cooperation are common among entrepreneurs who persist.