Analysis of factors influencing sustainable entrepreneurship: a literature review

Authors

  • Verónica Alexandra Garófalo Valdiviezo Universidad Estatal de Bolívar https://orcid.org/0009-0008-7862-0214
  • Alexandra Maribel Arguello Pazmiño Universidad Estatal de Bolívar

DOI:

https://doi.org/10.59282/reincisol.V3(6)3853-3879

Keywords:

sustainable entrepreneurship; innovation; digitalization; economic sustainability; social development.

Abstract

The study examines the key factors of sustainable entrepreneurship, highlighting that, despite growing interest, gaps in the understanding of these factors persist, limiting the success and expansion of these businesses. Lack of understanding can hinder the resolution of environmental and social problems.  The central problem focuses on the need to understand what elements are determinant for the success of ventures that seek not only economic viability, but also a positive impact on the environment and society. The main objective is to identify and evaluate the economic, social and technological factors that affect sustainability in entrepreneurship. The methodology employed is qualitative, based on the analysis of scientific articles published between 2019 and 2024, following a documentary approach and using the PRISMA methodology for data selection and analysis. The main results indicate that the combination of sustainability, innovation and digitalization is crucial to improve the financial performance of ventures, while education and social networks play an essential role in their promotion and success. In conclusion, the study provides a comprehensive understanding of the key factors that facilitate or hinder sustainable entrepreneurship

Downloads

Download data is not yet available.

Metrics

Metrics Loading ...

References

Alka, T. A., Sreenivasan, A., & Suresh, M. (2024). Wheel of change: A systematic literature review on innovation and entrepreneurship in micro mobility solutions. Transport Economics and Management, 2, 154-168. https://doi.org/10.1016/J.TEAM.2024.06.004

Arya, V., Gaurav, A., Gupta, B. B., & Chui, K. T. (2024). A bibliometric analysis of environmental education and sustainable entrepreneurship development in a global perspective. Sustainable Technology and Entrepreneurship, 3(3), 100080. https://doi.org/10.1016/J.STAE.2024.100080

Association for Private Capital Investment in Latin America. (2023). LAVCA. https://www.lavca.org/

Avelar, S., Borges-Tiago, T., Almeida, A., & Tiago, F. (2024). Confluence of sustainable entrepreneurship, innovation, and digitalization in SMEs. Journal of Business Research, 170, 114346. https://doi.org/10.1016/J.JBUSRES.2023.114346

Banco de Desarrollo de América Latina y el Caribe. (2022). CAF. https://www.caf.com/

Bonfanti, A., De Crescenzo, V., Simeoni, F., & Loza Adaui, C. R. (2024). Convergences and divergences in sustainable entrepreneurship and social entrepreneurship research: A systematic review and research agenda. Journal of Business Research, 170, 114336. https://doi.org/10.1016/J.JBUSRES.2023.114336

Carrillo, M., & Pérez, M. (2019). Metodologías y experiencias de investigación en comunicación e información. Sociedad Latina de Comunicación Social. https://doi.org/10.4185/cac163

Casasempre-Satorres, A., & Vercher-Ferrándiz, M. (2020). Análisis documental bibliográfico. Obteniendo el máximo rendimiento a la revisión de la literatura en investigaciones cualitativas. Investigación Cualitativa en Ciencias Sociales: avances y desafíos, 4, 247-257. https://doi.org/10.36367/ntqr

Chaves Vargas, J., Ribes Giner, G., & Moya Clemente, I. (2024). Effect of the economic, social and technological factors on sustainable entrepreneurship over time. Journal of Business Research, 173, 114457. https://doi.org/10.1016/J.JBUSRES.2023.114457

GEM Global Entrepreneurship Monitor. (2023). https://www.gemconsortium.org/

Gupta, B. B., Gaurav, A., Arya, V., & Chui, K. T. (2024). Fintech advancements in the digital economy: Leveraging social media and personal computing for sustainable entrepreneurship. Journal of Innovation & Knowledge, 9(1), 100471. https://doi.org/10.1016/J.JIK.2024.100471

Holzmann, P., & Gregori, P. (2023). The promise of digital technologies for sustainable entrepreneurship: A systematic literature review and research agenda. International Journal of Information Management, 68, 102593. https://doi.org/10.1016/J.IJINFOMGT.2022.102593

Huang, Y., Li, P., Bu, Y., & Zhao, G. (2023). What entrepreneurial ecosystem elements promote sustainable entrepreneurship? Journal of Cleaner Production, 422, 138459. https://doi.org/10.1016/J.JCLEPRO.2023.138459

IDB | Inter American Development Bank. (2023). https://www.iadb.org/en

Isensee, C., Teuteberg, F., Griese, K. M., & Topi, C. (2020). The relationship between organizational culture, sustainability, and digitalization in SMEs: A systematic review. Journal of Cleaner Production, 275, 122944. https://doi.org/10.1016/J.JCLEPRO.2020.122944

Jha, V. K., & Pande, A. S. (2024). Making sustainable development happen: Does sustainable entrepreneurship make nations more sustainable? Journal of Cleaner Production, 440, 140849. https://doi.org/10.1016/J.JCLEPRO.2024.140849

Kummitha, H. R., & Kummitha, R. K. R. (2021). Sustainable entrepreneurship training: A study of motivational factors. The International Journal of Management Education, 19(1), 100449. https://doi.org/10.1016/J.IJME.2020.100449

Lazarte-Aguirre, A. (2024). Pathways to sustainable entrepreneurship: Analysing drivers of sustainable entrepreneurial orientation. Sustainable Technology and Entrepreneurship, 3(3), 100081. https://doi.org/10.1016/J.STAE.2024.100081

Lis, T., & Ptak, A. (2022). Information and knowledge as factors contributing to sustainable entrepreneurship. Procedia Computer Science, 207, 4017-4026. https://doi.org/10.1016/J.PROCS.2022.09.464

Mansouri, S., & Momtaz, P. P. (2022). Financing sustainable entrepreneurship: ESG measurement, valuation, and performance. Journal of Business Venturing, 37(6), 106258. https://doi.org/10.1016/J.JBUSVENT.2022.106258

Pereira, D., Leitão, J., Oliveira, T., & Peirone, D. (2023). Proposing a holistic research framework for university strategic alliances in sustainable entrepreneurship. Heliyon, 9(5), e16087. https://doi.org/10.1016/J.HELIYON.2023.E16087

Pérez-Carballo, K., Vilcacundo, E., Espinoza, C., & P., A. (2023). Comparison Of Policies And Incentives For Entrepreneurship In Latin America. Reminittances Review, 8(4). https://remittancesreview.com/article-detail/?id=764

Reyes-Ruíz, L., & Carmona, F. (2020). Investigación Documental para la comprensión ontológica del objeto de estudio [Universidad Simón Bolívar]. https://bonga.unisimon.edu.co/server/api/core/bitstreams/2af35a4b-2abf-4f78-a550-0a4e4764e674/content

Salehe, M. A., Sesabo, J. K., Isaga, N., & Mkuna, E. (2024a). Individual entrepreneurial orientation and firm performance: The mediating role of sustainable entrepreneurship practices. Sustainable Technology and Entrepreneurship, 3(3), 100079. https://doi.org/10.1016/J.STAE.2024.100079

Salehe, M. A., Sesabo, J. K., Isaga, N., & Mkuna, E. J. (2024b). Factors influencing sustainable entrepreneurship in fisheries small and medium-sized enterprises in Tanzania. Social Sciences & Humanities Open, 10, 100909. https://doi.org/10.1016/J.SSAHO.2024.100909

Shahid, M. S., Hossain, M., Shahid, S., & Anwar, T. (2023). Frugal innovation as a source of sustainable entrepreneurship to tackle social and environmental challenges. Journal of Cleaner Production, 406, 137050. https://doi.org/10.1016/J.JCLEPRO.2023.137050

Sreenivasan, A., & Suresh, M. (2023). Exploring the contribution of sustainable entrepreneurship toward sustainable development goals: A bibliometric analysis. Green Technologies and Sustainability, 1(3), 100038. https://doi.org/10.1016/J.GRETS.2023.100038

The World Business Council for Sustainable Development (WBCSD). (2023). https://www.wbcsd.org/

Thelken, H. N., & de Jong, G. (2020). The impact of values and future orientation on intention formation within sustainable entrepreneurship. Journal of Cleaner Production, 266, 122052. https://doi.org/10.1016/J.JCLEPRO.2020.122052

Urrútia, G., & Bonfill, X. (2010). Declaración PRISMA: una propuesta para mejorar la publicación de revisiones sistemáticas y metaanálisis. Med Clin, 135(11), 507-511. https://es.cochrane.org/sites/es.cochrane.org/files/uploads/PRISMA_Spanish.pdf

Published

2024-10-28

How to Cite

Garófalo Valdiviezo , V. A. ., & Arguello Pazmiño , A. M. . (2024). Analysis of factors influencing sustainable entrepreneurship: a literature review. REINCISOL, 3(6), 3853–3879. https://doi.org/10.59282/reincisol.V3(6)3853-3879
Bookmark and Share

10.59282

reincisol