While current research highlights the importance of entrepreneurial aspirations in business performance, expansion decisions and outcomes, the evidence of how they influence and translate into business growth has not been fully explored and understood. This is especially the case for adolescent entrepreneurial aspirations. The current paper examines whether adolescent entrepreneurial aspirations influence business growth, particularly if they moderate the indirect effect of business experience on business performance through access to finance.
The study collected data using a structured questionnaire from 310 owner-managers of retail micro, small and medium-sized enterprises in the retailing sector in urban Tanzania. The data were analysed using the linear-based regression Hayes Process Macro Model 7.
Findings highlight the critical role of adolescent aspirations in shaping entrepreneurial pathways. The study findings show that adolescent entrepreneurial aspirations moderate the indirect effect of business experience on business performance through access to finance, and the effect is more pronounced among entrepreneurs with high adolescent entrepreneurial aspirations.
Our work adds to the body of knowledge by offering a novel perspective on the role of adolescent entrepreneurial aspirations in business performance. We highlight the role of adolescent aspirations as a pathway to entrepreneurship as a career and a precursor to enterprise growth in adulthood. Such an understanding will enable policymakers to design more effective interventions that support the development of entrepreneurship skills and enterprise growth and stimulate innovation. Focusing on individuals with entrepreneurial or adolescent entrepreneurial aspirations will ensure maximum impact.
