Integrated Modeling of Entrepreneurial Failure Antecedents and its Financial, Social and Psychological Consequences

This study aimed at integrated modeling of effective factors on failure and its consequences on entrepreneurs. This is an applied research and it analyses the effects of failure and its consequences based on data collected from university-based startups in Tehran. Therefore, the responses of 257 randomly selected academic entrepreneurs were collected by questionnaire, and using structural equation modeling method, the effect of each factor in failure and its consequences is extracted. In short, based on the results, weaknesses in the team were identified as the most important factor in the failure of entrepreneurship and then the incorrect strategies, wrong marketing, industry difficulty, weakness in product and financial factors were followed. Among the consequences of failure, the highest imposed cost was mental and then social and financial costs.