Keywords: immigrant entrepreneurs, psychological capital, hope, efficacy, optimism, resilience, confidence, entrepreneurship, globalisation, human capital, social capital, immigrant business, immigrants
The value of the psychological capital of immigrant entrepreneurs
Immigrant entrepreneurs have always played a critical role in the economies of countries around the world. Although considerable attention has been devoted to the importance of economic and financial capital, we examine three overlooked forms of capital that may enhance the success of immigrant entrepreneurs: human, social, and psychological capital. Special attention is given to the positive psychological capital strengths of hope, self-efficacy/confidence, optimism, and resilience. We propose that successful immigrant entrepreneurs are those who not only possess, but also seek to further develop and leverage this newly recognised form of capital in themselves and their associates.