Examine the Drivers to Engage in Hybrid Entrepreneurship in Sri Lanka

Abstract

Purpose: “Hybrid entrepreneurship” indicates that people keep their employment while starting a business. This phenomenon seems to be on the arising stage on this decade, and linked to the current economic environment, which is including globalization, changes in career paths, nonstandard working arrangements, limited access to finance, and lack of employment security. The aim of this study is to examine the factors that affect to engage in hybrid entrepreneurship in Sri Lanka. Method: Quantitative approach was utilized. Acknowledging the literature, the study used age, income, education, passion (motivation and skills acquired) and resource acceptance (family support, employment support and the possibility to obtain a loan) as influencing factors to engage in hybrid entrepreneurship. The scope of this study lies with the individuals who are engaging in side-businesses while having their employment. Survey method was used to collect the data and a structured questionnaire was utilised as a data collection tool. Findings: Data were collected from 119 respondents. The binary logistic regression results revealed that sufficient skills acquired and receiving family support have statistically significant influences on engaging in hybrid entrepreneurship. Sufficient skills recorded the highest beta (1.997) value. Cross-tab analysis results revealed that wind up the decision of the business is relatively high in male employees and individuals who obtained bachelor degrees. Concerning the availability of resources, skilled-full persons and person received family support are more intended to leave from hybrid entrepreneurship. Research Implications: The main theoretical contribution of the present study is the emerge of a new term called “hybrid entrepreneurs” in the local education systems and make the public aware. The findings will be useful to local organizations to assess and evaluate the extent to which their employees engage in side-businesses while employing their organizations. These findings could be also used to increase the employee’s innovativeness who are working in current organizations by improving facilities to make innovations, and the government will be using these findings to identify the factors which affect the increase the engagement in entrepreneurship for improving the local entrepreneurship and policy-making processes which are eventually led to the economic growth of the country.