The moral legitimacy of entrepreneurs: An analysis of early-stage entrepreneurship across 26 countries

Abstract

This article develops our socio-cultural understanding of entrepreneurship by examining the influence of the moral legitimacy of entrepreneurs upon an individual’s engagement in early-stage entrepreneurship. A multilevel analysis conducted across 26 countries demonstrates that the higher the perceived degree of moral legitimacy, the more likely an individual is to consider starting a business, to begin preparing a business and to progress to actually found and run the business. We conclude that moral norms in society are an important influence upon early-stage entrepreneurship; thus, it is critical to legitimize the position of entrepreneurs as moral and beneficial for society as a whole.