Explore the perspectives of nascent entrepreneurs in New Zealand on social capital, self-efficacy, and entrepreneurial intention in the context of the post-COVID-19 pandemic : A thesis submitted in fulfilment of the requirements for the Degree of Master of Commerce and Management at Lincoln University

Abstract

The COVID-19 pandemic has significantly impacted global economies, with income losses among communities and across countries. Furthermore, New Zealand is grappling with economic imbalances, which have been further intensified by the pandemic. Existing literature indicates that entrepreneurship significantly contributes to the economic development of a country through the setting up of new businesses and the resulting generation of more production, services and job opportunities. Leveraging entrepreneurship as a strategic instrument could also serve as one of the viable solutions for the New Zealand economy to overcome its current challenges in the long term. Entrepreneurship has significantly developed in recent decades due to various economic, political, and socio-economic factors, and research has recommended enhancing entrepreneurial intention. In addition, the significance of social capital, together with self-efficacy, has been recognized as a pivotal factor in initiating a business, as it facilitates obtaining and deploying financial and human capital. Overall, this study offers an understanding of the characteristics of entrepreneurial intention in New Zealand following the post-pandemic period. The effects of post-pandemic factors and cultural support on entrepreneurship have been investigated by examining the utilization and accessibility of resources, entrepreneurial intention, self-efficacy beliefs, and social capital networks. The research findings reinforce the concept of social capital since most emerging entrepreneurs are actively engaged in diverse social networks, seeking chances to enhance their expertise and leverage resources through networking. Research revealed that the presence of bonding social capital has a substantial impact on nascent entrepreneurs' intentions. This study has presented empirical data on the interconnectedness of family, friends, mentors, business contacts, and peer support in the development of emerging entrepreneurs. Furthermore, the research findings confirmed the theory of bridging social capital, since most nascent entrepreneurs actively engage in various social networks, seeking possibilities to enhance their expertise and obtain essential resources through networking. The success of nascent entrepreneurs is greatly influenced by their self-efficacy beliefs. Those who possess greater confidence in their abilities, skills, attributes, and resilience are more capable of overcoming obstacles and capitalizing on available opportunities. Continuous learning, mentorship, and feedback are critical components in building self-esteem. The processes of digitizing entrepreneurial environments worldwide have accelerated following the COVID-19 epidemic and it has been emphasized in the research findings. Cultural and societal influences are important aspects of entrepreneurial intention. Therefore, a comparative analysis of different cultures could be highly beneficial.