A study of individual and market level factors to estimate key determinants of financial success among solopreneurs
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F62156489%3A43110%2F25%3A43927618" target="_blank" >RIV/62156489:43110/25:43927618 - isvavai.cz</a>
Result on the web
<a href="https://doi.org/10.1038/s41598-025-21807-8" target="_blank" >https://doi.org/10.1038/s41598-025-21807-8</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.1038/s41598-025-21807-8" target="_blank" >10.1038/s41598-025-21807-8</a>
Alternative languages
Result language
angličtina
Original language name
A study of individual and market level factors to estimate key determinants of financial success among solopreneurs
Original language description
This study investigates how personality traits, age, risk propensity, and structural factors influence the long-term financial success of solopreneurs, defined as solo-founded ventures typically characterized by the absence of a dedicated workforce during the early years of operation. Using data from 4,470 solo-founded ventures in the German Institute for Employment Research/Centre for European Economic Research start-up panel, we model sustained profitability over the first 7 years as a binary outcome and test seven hypotheses grounded in trait, decision-making, and resource-based theories. The regression results show that two psychological traits - Openness and Conscientiousness - significantly increase the likelihood of long-term profitability (odds ratio OR = 1.616; OR = 1.279). Preference for low-risk projects (OR = 1.607) and being age LESS-THAN OR EQUAL TO 50 years (OR = 2.126) further enhance success odds. Conversely, general risk attitude, gender, sector affiliation, and research and development involvement show no significant effects. The results challenge assumptions about sectoral or innovation-based advantages and emphasize the significance of psychological variables in solopreneurship. This study contributes to a multidimensional understanding of entrepreneurial success and supports the development of evidence-based support strategies tailored to individual trait-context combinations.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50103 - Cognitive sciences
Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2025
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Scientific Reports
ISSN
2045-2322
e-ISSN
2045-2322
Volume of the periodical
15
Issue of the periodical within the volume
27 October
Country of publishing house
GB - UNITED KINGDOM
Number of pages
16
Pages from-to
37340
UT code for WoS article
001603740100008
EID of the result in the Scopus database
2-s2.0-105019983845