University entrepreneurship in Colombia: family support, entrepreneurial persistence and performance
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Abstract
University entrepreneurship (UE) is gaining increasing academic and organizational attention. However, there is little research on the
role of family social support (FSS) in the business performance (BP) of businesses established by students. This information gap is significant
given that SF, in its emotional (ESF) and instrumental (IFS) dimensions, can be strategic for the development and sustainability of these ventures.
Consequently, this study aims to analyze the effect of SFS on the BP of ventures led by university students in Colombia, additionally considering
the mediating role of Entrepreneurial Persistence (EP), a central quality for maintaining entrepreneurial commitment and overcoming obstacles.
The study adopts a quantitative approach, using information from 1,287 student entrepreneurs covered in the GUESSS Colombia 2021 Report.
Statistical processing of the data was performed using partial least squares structural equations modeling (PLS-SEM). The results indicate that
ASFE and ASFI have a positive impact on DE. Likewise, it is found that the mediation of PE is more relevant when considering the emotional
component of family support. It is concluded that family support plays a relevant role in the success of university entrepreneurship, which, based
on close support networks, has important implications for the design of educational policies and institutional programs aimed at strengthening
entrepreneurship among university students.
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