Business innovation intent among college students: Contributions of psychological capital and entrepreneurial self-efficacy

Abstract

Business innovation is centre stage in fostering social and economic growth and entrepreneurial ventures. We explored how entrepreneurial self-efficacy mediates the link between psychological capital and entrepreneurial intent in business innovation. A sample of 365 female and male black African final year Technical and Vocational Education and Training (TVET) college students participated in the study (mean age = 24.3 years, SD = 2.38 years). Following simple mediation analysis and structural equation modelling, results indicated resilient hope and self-regulated optimism as promotors of self-efficacious entrepreneurial planning, which in turn enhanced business innovation (entrepreneurial) intent. Our findings add to entrepreneurship theory by highlighting psychological capital and entrepreneurial self-efficacy as passion attributes of business innovation intent. College modules should include training in business innovation that develops students’ psychological capital and entrepreneurial planning skills to enhance their passion for business creation.