Entrepreneurial Factors Influencing Recovery from Covid-19: A Country-Level Analysis

Abstract

This study examines the impact of entrepreneurship ecosystem factors on the recovery of entrepreneurship from the COVID-19 pandemic and offers valuable insights to drive growth. By analyzing the Serbian dataset from the Global Entrepreneurship Monitor National Expert Survey in 2022, the study employs linear regression analysis to investigate the relationship between Entrepreneurial Framework Conditions and post-pandemic recovery. Data were collected through interviews with 40 experts representing the government, academia, and industry. The National Entrepreneurship Context Index score for Serbia's entrepreneurial environment quality in 2022 is 4.6 which positions Serbia in the middle of the continuum of included country scores. The results of the analysis have shown that Market openness (β = .474; p < .01) and Achieving the UN Sustainable Economic Development Goals (β = .460; p < .01) have a direct positive impact on the recovery of entrepreneurs from the consequences of COVID-19. The limitations of the study are related to the demographics of the sample, self-reported data, geographic scope, focusing only on the Republic of Serbia, crosssectional design that does not capture the dynamic and evolving nature of the recovery process. Given these limitations, future work could incorporate a more diverse sample to enhance the generalizability of the findings.This research provides important insights and policy recommendations to leverage entrepreneurial practices for economic recovery following the impact of the COVID-19 pandemic.