EXPLORING INDONESIAN NEW ENTREPRENEURS CAREER SUSTAINABILITY DURING AN ECONOMIC CRISIS

Ardianti, R.R. Retno (2023) EXPLORING INDONESIAN NEW ENTREPRENEURS CAREER SUSTAINABILITY DURING AN ECONOMIC CRISIS. In: Petra International Business and Accounting Conference (PIBACC), 21-11-2023 - 21-11-2023, Surabaya - Indonesia.

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Abstract

Economic crises can create shocks for individuals career that trigger job change, such as a a job change from paid employment to entrepreneurship. However, litle is known about the long term impact of this particular type of job change on career sustainability. Therefore, the aim of this paper is to explore the long term implication of a job change from paid employment to entrepreneurship by using data of job changes during the period of Asian economic crisis in Indonesia. We use descriptive statistics to reveal the survival rate in entrepreneurship and the career patterns of new entrepreneurs who started their career during the crisis. We also examined their income and compared them with similar individuals who remained in paid employment to understand the outcomes from a career change. Our finding indicate support to the findings from career imprinting literature as it shows that less than 50% of new entrepreneurs survive in their new career and only 78% of them were able to show persistent career patterns. The rest showed mixed results with some episodes of going back to paid employment or unemployment. Further, our results demontrate that in average, those who survive demonstrate no financial gains from their new entrepreneurial career. Their annual income were found to be relatively similar to those who remaind in paid employment during and after the crisis.

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