Entrepreneurship during a pandemic

Storr, Virgil Henry; Haeffele-Balch, Stefanie; Lofthouse, Jordan; Hobson, Anne

doi:10.1007/s10657-021-09712-7

Cited by 9 publications

(15 citation statements)

References 72 publications

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“…In an attempt to limit activity, policymakers actually instituted policies that could increase the spread of COVID-19 rather than reduce it. Second, in the summer of 2020, the federal government declared that any international students enrolled in online courses for the fall would be required to return to their home countries (see Griswold and Salmon 2020 ; Storr et al 2022 ). Universities across the country filed lawsuits and the decision was quickly reversed.…”

Section: The Perils Of Regulation and The Kirznerian Entrepreneurmentioning

confidence: 99%

“…Despite facing obstacles, many entrepreneurs found ways to provide consumers with the goods and services they desired (Storr et al 2022 ). Many entrepreneurs altered their business models to address government restrictions as well as changes in consumer demands.…”

Section: Covid-19 Policies and The Perils Of Regulationmentioning

confidence: 99%

“…Distilleries began making hand sanitizer, clothing manufacturers constructed masks, and vacuum manufacturers made ventilators. Gyms, therapists, and veterinarians turned to online platforms to engage their customers and clients (Storr et al 2022 ). Due to supply constraints and/or demand-side hoarding, toilet paper became increasingly during the early part of the pandemic.…”

Section: Covid-19 Policies and The Perils Of Regulationmentioning

confidence: 99%

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The Perils of Regulating COVID–19: Insights from Kirznerian Entrepreneurship and Ostromian Polycentricity

2022

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During the COVID-19 pandemic, governments at every level in the United States made various policies to reduce the spread of the disease and to mitigate pandemic-related economic impacts. Such policies included stay-at-home orders that shuttered “non-essential” businesses and economic stimulus programs that provided financial assistance. Using Israel Kirzner’s insights from “The Perils of Regulation,” we argue that local, state, and federal COVID-19 policies have had and will continue to have long-run spillover effects and other negative unintended consequences. Pandemic policies have stifled entrepreneurial discovery and created opportunities for superfluous discovery, thus directing entrepreneurial efforts in directions that would not have existed otherwise. The normative implications of this analysis are that policymakers should better account for the wide variety of seen and unseen costs of policies that are likely to have many negative unintended consequences, regardless of the intentions behind such policies. One of the most effective ways to limit the perils of regulation is polycentric governance systems. With multiple, overlapping decision-making centers, polycentric systems allow for policymakers to experiment with different policy approaches and learn from other jurisdictions. Polycentric systems also limit the spillover effects of negative unintended consequences onto other jurisdictions.

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Section: The Perils Of Regulation and The Kirznerian Entrepreneurmentioning

confidence: 99%

Section: Covid-19 Policies and The Perils Of Regulationmentioning

confidence: 99%

Section: Covid-19 Policies and The Perils Of Regulationmentioning

confidence: 99%

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The Perils of Regulating COVID–19: Insights from Kirznerian Entrepreneurship and Ostromian Polycentricity

2022

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“…the personal protective equipment for preventing the spread of the virus) and (b) supplied the services needed so that people can stay productive and connected during the pandemic (e.g. offering the technology for telework) (Storr et al. , 2022).…”

Section: Introductionmentioning

confidence: 99%

“…Third, properly situating pandemic entrepreneurship within the crisis entrepreneurship literature can help inform to policymakers. As Storr et al. (2022) discuss, entrepreneurship during pandemics can be encouraged or impeded by government actions.…”

Section: Introductionmentioning

confidence: 99%

Understanding pandemic entrepreneurship as a unique form of crisis entrepreneurship

Behr

Storr

2022

JEPP

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PurposeThere is a large literature about crisis entrepreneurship, spanning from necessity, natural disaster and long-term conflict entrepreneurship. This paper situates pandemic entrepreneurship as a unique form of crisis entrepreneurship.Design/methodology/approachThe authors utilize the Kirznerian and Schumpeterian theories of entrepreneurship to understand pandemic entrepreneurship. Using evidence from the US COVID-19 pandemic, the authors argue that pandemics impact both the “identification” and “action” moments of entrepreneurship.FindingsThe Kirznerian identification moment becomes much more uncertain for entrepreneurs because of fluctuating conditions, such as public health conditions, new potential variants of the virus causing the pandemic, shifting government mandates and rules and so forth. The Schumpeterian action moment becomes more challenging because of the necessity of physical distancing and because, generally, all crises raise the cost of entrepreneurial action. That said, the authors still document considerable entrepreneurship during pandemics as entrepreneurs adapt to the increased uncertainty and costs by rely upon local and customary knowledge.Research limitations/implicationsThis research finds that entrepreneurs, depending upon the crisis, face differing constraints. Specifically in times of pandemic, entrepreneurs face difficulty recognizing opportunities because of shifting conditions and acting upon opportunities because of financial and political constraints. This research thus implies that there are large opportunities for alleviation of such constraints if there were to be future variants or pandemics.Practical implicationsPractically speaking, this research affects how people study entrepreneurship. By recognizing the differing constraints that pandemic entrepreneurs face, the authors can better understand the last several years, and can also prepare better policy wise for future pandemics or further variants of COVID-19.Social implicationsSocially, entrepreneurship can be a large factor in recovery from disasters and crises. By recognizing and perhaps alleviating constraints that pandemic entrepreneurs face, future crises could have better responses and recoveries.Originality/valueAlthough several studies have examined entrepreneurship during the COVID-19 pandemic, the extant literature on pandemic entrepreneurship remains relatively underdeveloped and has not yet focused on what distinguishes pandemic entrepreneurship from other forms of crisis entrepreneurship. The authors highlight what pandemic entrepreneurship has in common with other forms of crisis entrepreneurship and pinpoint the various ways that is distinct.

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The Relationship Between Entrepreneurship and Economic Growth in the Pandemic Crisis

Martín

Castaño-Martínez

Méndez‐Picazo

2023

Springer Proceedings in Business and Economics

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Entrepreneurship during a pandemic

Cited by 9 publications

References 72 publications

The Perils of Regulating COVID–19: Insights from Kirznerian Entrepreneurship and Ostromian Polycentricity

The Perils of Regulating COVID–19: Insights from Kirznerian Entrepreneurship and Ostromian Polycentricity

Understanding pandemic entrepreneurship as a unique form of crisis entrepreneurship

The Relationship Between Entrepreneurship and Economic Growth in the Pandemic Crisis

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