When the going gets tough: Stressors and purpose in life among social and commercial entrepreneurs

Abstract

Described as the presence of significance, meaning, and goal-directedness in one's life, purpose in life has received much attention in psychology and well-being research due to its association with psychological well-being. However, research on the relationship between entrepreneurship and purpose in life remains nascent. In this study, we explore differences in purpose in life between social entrepreneurs and commercial entrepreneurs. We find that social entrepreneurs, on average, exhibit higher levels of purpose in life than commercial entrepreneurs. We further find that social entrepreneurs are more likely to retain purpose in life in the face of hindrance stressors than their commercial entrepreneur counterparts. We discuss theoretical implications for social entrepreneurship and entrepreneurial well-being literatures.