The Role of Family Support, Self-efficacy, and Entrepreneurial Education in Developing Entrepreneurial Intentions in Developing Countries

Family support significantly influences the entrepreneurial intention of an individual, as it provides opportunities for learning and inspiration. The present study explores the connection between family support, entrepreneurial intention, and the possibility of starting a business in developing countries. We used four dimensions of family support (access to finance, emotional support, role model, and networking). It also examines the influence of entrepreneurial self-efficacy (ESE) and education (EE) on this relationship. Social support and social learning theories were used to investigate the effects of family support on the desire to start a business. The study collected data from 410 students in India using an adaptable questionnaire and empirical methods. The investigation employed variance-based partial least squares structural equation modeling (PLS-SEM). The IPMA was also included to measure the performance of the variables and give managerial implications based on that. The study concludes that access to capital, emotional support, positive role models, networking, and self-efficacy are all crucial elements in encouraging entrepreneurial intention. The research also highlights that self-efficacy partially mediates between family support and the desire to start a business in developing countries. We did not get an education’s statistically significant moderating role in the present study. Policymakers, educators, and support groups looking to strengthen entrepreneurial ecosystems in developing countries should take note of the implications of this research and leverage the critical role of family support to boost people’s self-efficacy convictions.