This study aims to analyse the concept of ‘courage’ as an antecedent of Individual Entrepreneurial Orientation (IEO), and how this can impact the perceptions of financial and non-financial benefits in the context of Lesbian, Gay, Bisexual, Transgender, Queer, Intersex, and Asexual (LGBTQIA+) minorities. This involved quantitative research based on structural equation modelling and a sample of 200 LGBTQIA + entrepreneurs in various countries. The results highlight the positive impact of courage on innovation, proactiveness, and the propensity to risk. Furthermore, our study provides empirical support that innovation and the propensity to assume risks may positively influence the perceptions of financial and non-financial benefits. Our study contributes to the literature on minority entrepreneurship, which has received relatively little attention. We also contribute to the literature by providing empirical evidence of courage as a new IEO antecedent and conveying how non-financial benefits, such as reputation, are relevant and perceived as often beneficial to the careers of the LGBTQIA + community. Our evidence may inspire LGBTQIA + individuals to invest more strongly in entrepreneurship as a real career opportunity.
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