The Role of Entrepreneurial Coaching in the Restarting Process After Business Failure

Abstract

The aim of this paper is to identify the adequate entrepreneurial support elements for business restarting after business failure. An exploratory study was conducted with fifteen SMEs within the interpretivist paradigm. The study reveals a matrix of factors that make for adequate entrepreneurial support to assist restarting business. In addition, this study shows that psychological coaching is an efficient remedy to reduce emotional shock after experiencing unplanned failure whereas social coaching is an efficient support of integrating successor following a planned failure in some social network. However, current thinking on incubation should be increased in order to help with business recovery especially as there is a high failure rate associated with startups.This research attempts to ensure a possible relationship between entrepreneurial support practices and failing entrepreneurs’ needs.