Assessing Ecopreneurship Impact on Composite Sustainable Livelihood: Evidence from the Selected Rural Agri-base Small Businesses in Sri Lanka

Abstract

Aim: Entrepreneurship and livelihood development paradigms are inclusive of one another and have become prominent modes of development in global societies, as development policies seem to resonate with the agenda of social inclusivity. One can see how ecopreneurship affects sustainable rural livelihood development. This study aimed to identify motivators for adopting ecopreneurial behavior in Sri Lankan rural areas and to explore the impact of ecopreneurship on sustainable rural livelihoods. Methodology: The investigation was conducted using a deductive content analysis approach covering seven individuals operating in agriculture-based value-added businesses in selected rural areas in Sri Lanka. A purposive sampling technique was employed and semi-structured interviews were conducted in a non-contrived setting. The Sustainable Livelihood Approach (SLA) and the Schumpeterian entrepreneurial theory of innovation were used as theoretical frameworks. Results: The results reveal the human, financial and natural capitals are the significant factors fostering rural ecoprenuership. The impact of rural ecoprenuership in reducing poverty is reflected through increased income level, improved food nutrition conditions, sustainable production, and better adaptation to climate vulnerabilities. By encouraging the expansion of sustainable businesses, rural ecopreneurship creates new business opportunities. These initiatives usually draw upon local resources and traditional knowledge, fostering the economic growth of the community. Ecopreneurs in rural areas usually focus on sustainable resource management. Implications: Improved access to livelihood capitals is an important factor in the embrace of ecoprenuership and a channel of attaining sustainable rural livelihood results. The greatest environmental orientation is exhibited by the ecoprenuers. This is the reason why external knowledge is important to these businesses. The creation of such a network is, among other aspects, made possible by the professional experience pertaining to the environment gained by the entrepreneur. Originality: It is crucial to make use of ecoprenuership since it necessitates the initiation of livelihoods in the face of the intense environmental problems. This study attempts to fill the gaps present in the literature with the emphasis laid on ecoprenuership and sustainable livelihood in rural areas.