Transition Decision of Hybrid Entrepreneurship in the Post-pandemic Period: Understanding the New Normal Factors in Developing Context

Abstract

Purpose: The uncertainties surrounding the COVID-19 pandemic have inspired new business ventures. The best approach to overcome the obstacles in pandemic is hybrid entrepreneurship, which is defined as "holding the current job while creating a new business”. The study aims to discover the new normal characteristics that influence the engagement in hybrid entrepreneurship in Sri Lanka. Methods: Schlossberg’s transition theory was adopted as the theoretical framework. Four transition elements; Situation, Self, Support, and Strategies used as the new normal factors. Snowball sampling method was used to select the participants who have both full-time employment and their own businesses during post-pandemic period. Data were gathered from 119 individuals using a standardized questionnaire. Hypotheses were tested using multiple regression analysis. Findings: The majority of the respondents have their own small enterprises. The element ‘strategies’ is the most significant influencing factor on participation in hybrid entrepreneurship, followed by ‘self’. Support and situation elements have the least impact on hybrid entrepreneurship. Research Implication: The policy implications of better understanding this transition could result in support systems aimed at better fostering hybrid entrepreneurship, given that ventures established by hybrid entrepreneurs are typically robust with strong chances of survival.  Establishing support structures for hybrid entrepreneurs to assist with the growth of their ventures could be greatly beneficial for both employment and economic growth. Originality: Grounded in Schlossberg’s transition theory, the study offers insight into the specific factors that could influence the transition decision of hybrid entrepreneurship.