Volume 23 Issue 2 Article 5 
August 2021 
Young People’s Self-Meaning Making Through Entrepreneurship in Young People’s Self-Meaning Making Through Entrepreneurship in 
Poland, Slovenia and the UK: Implications for Human Resource Poland, Slovenia and the UK: Implications for Human Resource 
Management in SMEs Management in SMEs 
Melita Balas Rant 
University of Ljubljana, School of Economics and Business, Ljubljana, Slovenia, melita.balas.rant@ef.uni-
lj.si 
Katarzyna Dziewanowska 
Warsaw University, Faculty of Management, Warsaw 
Edita Petrylaite 
Northumbria University, Faculty of Business and Law, Newcastle, UK 
Alison Pearce 
Northumbria University, Faculty of Business and Law, Newcastle, UK 
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Recommended Citation Recommended Citation 
Balas Rant, M., Dziewanowska, K., Petrylaite, E., & Pearce, A. (2021). Young People’s Self-Meaning Making 
Through Entrepreneurship in Poland, Slovenia and the UK: Implications for Human Resource Management 
in SMEs. Economic and Business Review, 23(2). https://doi.org/10.15458/2335-4216.1010 
This Original Article is brought to you for free and open access by Economic and Business Review. It has been 
accepted for inclusion in Economic and Business Review by an authorized editor of Economic and Business 
Review. 

ORIGINAL ARTICLE
Young People's Self-meaning Making Through
Entrepreneurship in Poland, Slovenia and the UK:
Implications for Human Resource Management in
SMEs
Melita Balas Rant
a,
*, Katarzyna Dziewanowska
b
, Edita Petrylaite
c
, Alison Pearce
c
a
University of Ljubljana, School of Economics and Business, Ljubljana, Slovenia
b
Warsaw University, Faculty of Management, Warsaw, Poland
c
Northumbria University, Faculty of Business and Law, Newcastle, UK
Abstract
Theobjectiveofthepaperistoexploreyoungpeople'smotivesforpursuingentrepreneurialopportunitiesinsteadofa
professional career in the public sector or a corporation. As young people increasingly consider alternatives to a
traditionalcareer,it isusefultounderstandwhatliesbehindtheirentrepreneurial careerchoiceinordertoadvisesmall
and medium-sized enterprises (SMEs) how to attract a young workforce. A qualitative study consisting of 16 in-depth,
semi-structured interviews with young entrepreneurs in Poland, Slovenia and the United Kingdom (UK) identifies a
variety of internal and external factors influencing the entrepreneurs' career decisions that were found to be largely
homogenous across different countries and contexts. These influences operate at micro, mezzo and macro levels. The
findings are explained through Kegan's theory of self-meaning making as well as the SME context and particularities,
providing an understanding of what attracts and deters young people facing career choices.
Keywords: Young people, Career choices, Entrepreneurship, SMEs, Self-meaning making
JEL classification: J62
Introduction
T
hisstudyaddressestheissuesthatsmalland
medium-sizedenterprises(SMEs)facewhen
it comes to managing human resources and in
particular the employment and retention of
young talent. The issues in this paper are dis-
cussed from the perspectives of young people
who opt for an entrepreneurial rather than a
professional career. Such behaviour often results
from the growing support for entrepreneurial
ecosystems (Fenton & Barry, 2011) and escalating
ethical issues in corporate businesses. Knowing
what makes young people pursue their own
ventures instead of working for corporations can
suggestwhatSMEscandotoattractyoungtalent.
This paper explores young people's motives for
pursuing entrepreneurial opportunities and focuses
onthefirsttwocareerstages proposed byBairdand
Kram (1983): establishment and advancement.
Politis and Landstr€ om (2002) suggest that enterprise
owners go through the same career stages as other
professionals and so we propose that these are the
crucialstagesinwhichSMEscanofferyoungpeople
similarbenefitstoentrepreneurshipinitsownright.
Investigating young entrepreneurs' personal and
professional development journeys from Kegan's
(1982, 1994) point of view helps us understand
which factors influence entrepreneurial career
making in young people and how. Through this
Received 30 January 2020; accepted 2 April 2021.
Available online 19 August 2021.
* Corresponding author.
E-mail address: melita.balas.rant@ef.uni-lj.si (M.B. Rant).
https://doi.org/10.15458/85451.1010
2335-4216/© 2021 School of Economics and Business University of Ljubljana. This is an open access article under the CC-BY-NC-ND license (http://creativecommons.
org/licenses/by-nc-nd/4.0/).

analysis we can better understand how specific
meaning-makingstages(i.e.thesocial-mindandthe
self-authoring mind) influence entrepreneurial
career choices.
The paper presents the findings extracted from
an international data set which in a globalised
economy offers a valuable contribution, especially
indemonstratingthehomogeneityofyoungtalent.
Secondly,itprovidesaninsightintotheattitudesof
people who decided to start their own companies
andbetheirownbosses.Thefindingsareexplained
through Kegan's (1982, 1994) theory of self-mean-
ing making as well as the SME context and partic-
ularities, providing an understanding of what
attracts and deters young people facing career
choices.
The paper is structured as follows: first, the SME
and job market context of the study is introduced.
This includes a description of millennials entering
the workforce. Second, Kegan's (1994) theory is
elaborated. This is followed by an exposition of the
research methodology, presentation of findings,
analysis and a discussion thereof, leading to overall
conclusionsandthepracticalimplicationsforSMEs.
1 Literature review
1.1 Human resource management issues in SMEs
SMEs make up more than 95% of companies and
provide 60% of private sector employment (OECD,
2019) the world over. Many authors betray a preju-
dice towards larger companies and apply a deficit
model to SMEs, given their resource constraints,
lack of structure and relative informality. Some
studies have established benefits for SMEs in for-
malised or informed human resource management
(HRM) (Razouk, 2011; Sheehan, 2014). Others cast
doubt on the assertion that properly organised
HRM is feasible or even desirable in smaller com-
panies (Bryson & White, 2019). All organisations
manage their people more or less purposefully and,
given the challenges specific to SMEs, it can be
argued that HRM is important to them, influencing
both early survival and subsequent growth (Barrett
& Mayson, 2008). So more SME-specific research is
required (Festing et al., 2017), especially in HRM,
which is particularly underdeveloped (Chadwick et
al., 2013). For SMEs, key characteristics likely to
shape HRM include informality, resource poverty,
the liability of smallness, centralized control and
vulnerability to external changes (Cardon & Ste-
vens, 2004), the latter witnessed with great clarity
during 2020 lockdowns. Novel means of exploring
implications for SMEs, such as owner-manager
meaning-making, might prove useful (Mayson &
Barrett, 2017). The formality/informality dynamic,
including where and why informality might form
the basis of sustainable competitive advantage, is
particularly relevant. It is well-established that
SMEs offer less developed HRM (e.g., benefit
packages, training and development) compared to
larger firms, but can provide more engaging and
satisfying work (Bryson& White, 2019). Such issues
can be explored by investigating what attracts em-
ployeestoworkinsmallercompaniesandstarttheir
own. This paper is designed to start to address this
gap by investigating those who have decided to set
up their own small business.
1.2 The millennialseemployees and entrepreneurs
Young people are particularly interesting and
important subjects of study as they constitute a
significant portion of the job market (Kuron et al.,
2015; Meng & Berger, 2018). As representatives of
generations Y and Z, they bring with them new
expectations, motivation, values, practices and
affiliative needs (Pant & Venkateswaran, 2019;
Schwartz, 1992, 1999; Twenge et al., 2010). Work
values can be defined as “the goals or rewards
people seek through their work” (Schwartz, 1999,p.
43). Some authors claim that the millennial gener-
ation is predominantly characterised by the high
value they place on good work-life balance (Chopra
& Bhilare, 2020; Dziewanowska et al., 2019; Meng&
Berger, 2018) and focus on personal development
goals leading to amassing skills, knowledge and
credentials (Chopra & Bhilare, 2020; Hershatter &
Epstein, 2010; Ng& Gossett, 2013). Their reluctance
to give up personal life for work may stem from the
observation of their parents’ long working hours
(Schullery, 2013).
Millennials view technology as an integral part of
their lives and value autonomy, diversity and posi-
tive reinforcement (Brueckner & Mihelic, 2019;
Chopra & Bhilare, 2020; Meng & Berger, 2018), as
wellasteamwork,socialconsciousnessandintrinsic
job satisfaction (Henderson, 2012; Meister & Will-
yerd,2010;Meng&Berger,2018).Studiesacross the
world report that millennials appreciate innovation,
creativity, challenges, learning opportunities and
career advancement and prefer to work for socially
responsible employers (Meng & Berger, 2018; Pant
& Venkateswaran, 2019). They are not indifferent to
extrinsic rewards and value money and status more
thanthegenerationofbabyboomers(Twengeetal.,
2010). Yet, recognition of their ideas is also very
important to the young workforce (Chopra & Bhi-
lare, 2020). Despite many positive characteristics,
116 ECONOMIC AND BUSINESS REVIEW 2021;23:115e130

some studies mentioned some deficiencies in this
youngtalent.Theylackstrongworkethic(Gallicano
et al., 2012) and loyalty towards employers, who
experience difficulty in motivating and retaining
young people (Solomon, 2000).
Despite the fact that 90% of millennials recognise
entrepreneurship as a mentality and 60% of them
consider themselves entrepreneurs (Thompson,
2016), some data shows this generation to be the
least entrepreneurial so far (Struckell, 2019). Less
than 2% of the millennial generation were self-
employedin2014,whichisfourtimeslowerthanfor
the previous two generations (Wilmoth, 2016). It
seems that the millennials' self-perception does not
necessarily translate into founding businesses.
Those who do become entrepreneurs associate a
successful career with feelings of pride and fulfil-
ment, independence and freedom, creative activity
and contributing to a greater good, as well as ben-
efits such as money and connections (Dziewa-
nowska et al., 2019). Focusing on the millennials
who opt for ‘independent careers’ can help us un-
derstand the benefits associated with running your
own enterprise and how such career choices
advance the entrepreneurs' own personal and pro-
fessional growth, which can then be applied to the
SMEsector.Wewillusethefirsttwocareerstagesof
classical career theory (Baird & Kram, 1983)and
Kegan's (1994) theory of self-meaning making to
shed more light on young people's personal devel-
opment and career choices.
1.3 Career stages based on classical career theory
Baird and Kram's (1983) career theory states
there are four career stages: 1) establishment 2)
advancement 3) maintenance and 4) withdrawal,
with each of them providing unique experiences,
needs and challenges in one's personal and pro-
fessional development.
Baird and Kram (1983) explain that at the estab-
lishment stage people seek guidance and support
fromothersinordertostarttheircareers.Thisstage
generally involves uncertainty about one's compe-
tence and performance potential. A person in the
establishmentphasedependsonothersforlearning,
supportandguidanceand,atthesametime,islikely
to resist dependence once the attempts to establish
competencearemade.Itisaperiod ofbuildingnew
roles both at work and in one's personal life.
Questions about competence, whether or not to
commit oneself to a particular organisation and
what kind of family relationships to develop are of
primary concern at this stage.
During the advancement stage, people rely more
on their skills and experiences and less on the
guidance and advice of others. In this period, de-
cisions are taken independently and therefore
more collegiate relationships are formed. “To learn
to operate autonomously at this point in one's
career is a major psychological adjustment” (Baird
& Kram, 1983, p. 48). Instead of guidance, one
might seek a mentor, or look for role models and
friendships to assist in solving work problems.
1.4 Construction of the sense of self
Kegan(1982,1994)studiedadultsovertheirlifespan,
their perceptions, how these are controlled and the
attachment of meaning, which evolves over time. He
also investigated the inner and outer struggles caused
bychallengingexperienceswithinthepersonandhow
these are resolved. Kegan (ibid.) expanded Baldwin's
(1895)workonsubject-objectshiftsandarguedthatthe
only way to accommodate the challenges into a
coherentstoryaroundtheself(whoIamintheworld)
is to adjust one's own belief and meaning-making
system(McCauley etal.,2006;Reams,2014).
Adjustment of belief and meaning-making dur-
ing challenging life experiences is called ‘evolu-
tionary truce’ (Kegan, 1982), balancing self-image
and objective reality between ‘meaning-making
efforts’ and ‘meaning made’ (Park, 2010)andbe-
tween self and others. Subjects (unseen, hidden)
becomeobjectified(observedandcontrolledwithin
conscious awareness). Meaning-making structure
defines the properties of both interpersonal re-
lationships externally and the intra-psychic
constructofselfinternally(Kegan,1982).
Kegan (1994) identified three distinct orders of
consciousness that adults typically occupy: 1) stage
two with the imperial mind 2) stage three with the
socialised mind 3) stage four with the self-author-
ing mind. Stage three and four are most populous.
On average, 14% of adults occupy stage three, 32%
of the population is situated between stages three
and four, while 34% of adults operate from stage
four (ibid). Since one stage follows another, it can
be posited that most young adults occupy the
socialised self, some still reside in the imperial self
and others in the self-authoring self.
1.5 Properties of socialised and self-transforming
sense of self
Once able to reflect on one's own needs and
wishes, a person moves into stage three e the
socialised self. The capacity to reflect upon one's
own needs, wishes and desires liberates one from
ECONOMIC AND BUSINESS REVIEW 2021;23:115e130 117

beingcontrolledbythem.Theperson isnow ableto
identify themselves through relationships (Loe-
vinger, 1976), take up membership of the world of
work and society and form their own identity
(Kegan, 1994). The coherent story around self
(identity) is built upon loyalty to the collective
(family, team, profession, nation) (Cook-Greuter,
2013;Fuhrer,2004;Hy&Loevinger,1996;Loevinger,
1976). The person accepts the norms and values of
that collective in a form of ‘shoulds, oughts, must
nots’ and aims to construct a life that best fits with
these internalized expectations (Kegan, 1994). A
more advanced version of self-definition shifts from
‘I am my relationships, attachments’ to ‘Iammy
success, achievements’ (Anderson, 2018, p. 27).
Although these two self-definitions, i.e. fusion
with relationships or fusion with achievements, are
different and can result in quite different personal-
ities, behaviours and competencies, the internal
structure of the self remains the same and only the
self-defining beliefs are different (Kegan, 1982,
1994).Ifonefusesthesenseofselfwithrelationships
or achievements, one is embedded in one's sur-
roundings and has an externally validated sense of
self, happiness and self-worth. When one experi-
ences challenges in meeting the values, beliefs,
norms, mutual obligations etc of those surround-
ings, one faces the next ‘evolutionary truce’.
The evolutionary truce in the transition from
socialised self to self-authoring self is the major
adult transition and the most difficult because the
person individuates from their surroundings. They
areavailableforanentirelynewlevelofrelationship
with work, others and their career (Anderson et al.,
2015; Kegan, 1994) with competencies and abilities
unavailable to the previous self still fused with the
surroundings (Anderson, 2018; Anderson et al.,
2015). Authority comes from within rather than
without, law is seen as guidance rather than rules, a
personseekstheirownmeaningandself-expression
ratherthanadheringtoexternalexpectations.Limits
are put on external demands and a person becomes
an independent thinker and decision-maker rather
than unconsciously thinking in normative ways to
ensure approval, belonging or advancement. A
person can tolerate difference and avoids reactive
patterns of withdrawal or aggression in conflict
because the self is not violated. One can stay con-
nected and manage emotions, taking responsibility
forsituationsratherthanblamingothers(educators,
parents, bosses) and is able to take action consistent
with their vision in the face of disapproval.
We investigate in which stages the young entre-
preneurs in this study operate. We study the core
influences to which they pay attention and commit
as they develop their ventures and careers. Core
influences are captured by psychosocial surround-
ings: values, beliefs, convictions, generalisations,
ideals, abstractions, interpersonal loyalties and
intrapersonal states of mind (Kegan, 1994). Typical
examples of psychosocial surroundings are the
family, education and national cultures (Fuhrer,
2004). Furthermore, we explore whether their psy-
chological capacity meets the demands of entre-
preneurial endeavours. If the expectation upon
them is to be the creators of their ventures (rather
than imitators), we need to understand the proper-
ties, adequacy and developmental paths of this ca-
pacity to meet the demands imposed by embarking
on the entrepreneurial career paths.
2 Methodology
To understand the process of personal and pro-
fessional development in young entrepreneurs and
their career choices, a qualitative approach is un-
dertaken. Individual in-depth interviews are con-
ducted to gain insight into the complexity of these
processes and their varied influence (Miles &
Huberman, 1994). This data collection method
enabled the respondents to share freely their views
and experiences of the decision to create an entre-
preneurial venture.
A semi-structured interview scenario prepared by
the authors is used to reveal the role of internal and
external factors on the process development stages
of entrepreneurs and their perceptions of a suc-
cessful career. The questions are derived both from
theory and the authors' experiences. This form of
interview provides a framework to help build
rapport with the respondents and allows for the
emergence of unexpected topics in the conversation
(Seidman, 1998; Wengraf, 2001). Respondents were
asked open-ended questions and encouraged to
elaborate whenever possible (Lindolf, 1995). The
interviews were conducted face-to-face and via
Skype, typically lasting between 50 and 90 min. The
language of the interview (English, Polish, Slovene)
depended on both the interviewers' and in-
terviewees’ preferences and language proficiency.
The sample selection procedure is based on a
snowball sampling technique. Initial study subjects
were asked to recommend other candidates for the
study. Therefore, the sample size was not pre-
determined prior to the study but by the point of
data saturation. The respondents were considered
‘knowledgeable agents’ because they discussed
their personal and work-related experiences (Gioia
118 ECONOMIC AND BUSINESS REVIEW 2021;23:115e130

et al., 2013). The sample comprised 16 respondents
of3nationalities (British, PolishandSlovene)with 4
female and 12 male respondents. The interviewees
were 23e34 years old and with experience running
their own business. Detailed respondents' charac-
teristics are presented in Table 1.
All interviews were audio-recorded with partici-
pant consent and transcribed verbatim. Data were
coded in an iterative manner to generate emerging
themes (Miles & Huberman, 1994). The coding was
performed separately by the authors, with joint
discussions leading to the identification of major
meta-themes (institution, people, person) and sub-
sequent subthemes. These are discussed in the next
section.
3 Results and discussion
This section presents the results and findings of
theresearchasaseriesofthemesemergingfromthe
analytical coding. The results are presented along
with discussion of their relevance to the research
aim and the existing literature as “readers can
seldom make sense of results alone without
accompanying interpretation” (Scitable, n.d.). This
view is supported by Sullivan and Jefferson (2020),
who recommend that interpretation by the authors
isincludedintheresultspresentationandwefollow
their guidance on the presentation of qualitative
findings throughout. Through the coding of data
and identification and synthesis of themes, multiple
constructsareidentifiedandcombinedintobroader
categories and meta-themes (see Fig. 1).
The themes which emerge from the analysis refer
to three levels of functioning for an entrepreneur:
micro,mezzoandmacro.Themicrolevelfocuseson
the entrepreneur asa person with aparticular set of
values, skills and competences, as well as physical
andmentalcharacteristics.Themezzolevelputsthe
entrepreneur in their social environment and re-
flects the relationships with key people, including
family and mentors. Finally, the macro level com-
prises various institutions (organisations and com-
panies) that offer certain opportunities, but also
present some challenges. The three themes, cate-
gories and subcategories are discussed in subse-
quent sections and then linked to and explained
through Kegan's (1982, 1994) theory of self-meaning
makingandotherrelatedliterature(Andersonetal.,
2015; Fuhrer, 2004).
3.1 Micro level: person
The first theme identified refers to entrepreneurs
as persons with their own personality traits, com-
petences and values. These factors influencing the
development of young people as entrepreneurs are
of innate nature and while many of them are rather
fixed (e.g. gender, values), others can be learned
(e.g. creativity).
Table 1. Respondents’ characteristics.
ID Sex Nationality Age Current occupation
R1 M British 23 Owner of an app development company
R2 F British 29 Owner of a handcrafted leather accessories company
R3 M British 26 Owner of a tea shop and a tea wholesaler
R4 M British 23 Founder of an educational start-up
R5 F British 25 Owner of a small company (online publications)
R6 M Polish 25 Partner at a fintech company, plans starting own business
R7 F Polish 30 Owner of an interior design studio
R8 M Polish 32 Research assistant, PhD candidate, founder of a company (artificial intelligence)
R9 M Polish 31 Founder of a 3D printing company
R10 M Polish 26 Owner of an online store with accessories
R11 M Polish 28 Owner of a recruitment and employer branding agency
R12 M Slovenian 27 Starting own business (vending machines with healthy food)
R13 M Slovenian 23 Employed at an SME (marketing)
R14 F Slovenian 29 Co-founder of a start-up (talent marketplace and matching platform)
R15 M Slovenian 34 Co-founder of a start-up (talent marketplace and matching platform)
R16 M Slovenian Founder of a company specialising in promoting culture
Fig. 1. Factors influencing the development of young entrepreneurse
key categories and themes.
ECONOMIC AND BUSINESS REVIEW 2021;23:115e130 119

3.1.1 Values
Values are one of the major drivers in human
behaviour and development (Schwartz, 1992). An
analysis of the data has led to the identification of
several values underpinning entrepreneurial activ-
ities and stimulating the professional development
of young people (see Table 2). The first two e
freedom and independencee are closely connected
with Schwartz's (1992) universal value of self-direc-
tion. The respondents emphasize the fact that they
want to be free and in control over their lives and
they are willing to work hard to achieve it (Dzie-
wanowska et al., 2019). The second group of values
belongs to self-enhancement (Schwartz, 1992). The
joy and passion of creation and being an entrepre-
neur reflect hedonistic values, while the desire to be
successful and recognised represents power. The
respondents also mention their need and wish for
constant development andgrowth,both on personal
and business level. This in turn reflects the value of
achievement (Dziewanowska et al., 2019), recogni-
tion and status (Pant & Venkateswaran, 2019).
Finally, the last two values mentioned by the re-
spondents refer to security. The participants of the
study sought work-life balance, where family life,
workandhobbycancoexist(Chopra&Bhilare,2020;
Dziewanowska et al., 2019; Meng & Berger, 2018;
Twengeetal.,2010).Atthesametime,stability,both
personal and financial, were considered important
(Chopra& Bhilare, 2020; Dziewanowska et al.,2019).
These values can be acknowledged as typical of the
representatives of the Millennial generation in the
workplace(Calk&Patrick,2017;Twengeetal.,2010).
While the socialised mind is formed by psycho-
logical surroundings, the self-authoring mind acts
upon psychological surroundings (Kegan, 1994). A
socialised mind uncritically takes in “values, beliefs,
convictions, generalizations, ideals, abstractions,
interpersonal loyalties, and intrapersonal states of
mind” (Kegan, 1994, p. 185), while a self-authoring
mind “represents a more complex system for orga-
nizing experience” (Kegan, 1994, p.185). The more
complex system for organising experience comes in
the form of a distinct ideology and identity. Distinct
ideology and identity initiate the self-authoring ca-
pacity for selecting, integrating or inventing new
values etc. that are independent of the environment
(Kegan, 1994).
Table 2. Values.
Category Sub-category Illustrative quotes
Values Freedom and independence I would rather work lots and lots of hours for myself than not as many hours for somebody
else. I love being able to pick the meetings that I do, I love being able to go to the office
when I want to, leave when I want to. If I want to do a project, I'll do it, if I don't,
I won't and it's that freedom. (R1)
I probably work more hours now than I ever did before. But it's free still. (R2)
I'm working for myself whenever I want … I don't want to work eight hours per day in
the office for the whole week, for the whole month, for the year, paying debts and then
going to the grave. (R13)
I wanted freedom. I could make my own schedule. I wanted to earn enough money to
get by. I didn't want an enormous pay-check, I just wanted to get off my parents back. (R15)
I would like to have something on my own, a business. (R12)
Joy and passion I am doing what I do because I am enjoying it. (R16)
I'm passionate about game, no doubt. Of course, profits, too. (R15)
I always had that sort of taste for doing my own thing, running my own business kind
of thing, at my own style, so I always was really passionate about doing something
like that. (R1)
Development and growth If you have it in yourself, but you haven't found it yet, you learn about it and or at least
get wish to do it … […] I just want to grow as a person and get more knowledge. And
I'm going to thrive on having an income that I created. (SLO1)
In the business life, our priority now is to make better cash flow, and have more clients (R11)
Recognition We're thinking about it in long perspective. We want to create really big Polish brands,
which will be recognized, but not only in Poland, Europe, maybe in the world. (R11)
Stability I would like to have a family and I would like to be in a position where I can lead people
and be part of creating value for the company itself. (R12)
I think that the basics like stability, good money and so on, so that young person can feel
safe and invest in that work. (R7)
Work-life balance I'm quite keen on the whole work-life balance. I've been in a situation where I didn't have
that. So I used to work in advertising agency straight from university. And that was very
much work, no life balance, and got really into bad places, unhealthy, spent a lot of time
working. Well, one of the driving forces behind starting a business was to be in control. (R5)
The most important thing is to live healthily. Because I see now that when I feel good and
I'm healthy, then that's the time when I'm most productive. (R10)
120 ECONOMIC AND BUSINESS REVIEW 2021;23:115e130

Typically, the values of freedom and indepen-
dence, joy and passion, development and growth,
and work-life balance are produced by the inde-
pendent ideology of the self-authoring mind. They
serve to liberate the person from the expectations
imposed by the social surroundings (family, peers
and cultural norms) (Fuhrer, 2004).
3.1.2 Skills and competencies
The second category of factors stimulating the
development of young entrepreneurs is comprised
of their skills and competences. Two sub-categories
were particularly prominent: creativity and innova-
tion and taking advantage of opportunities (see
Table3).Severalrespondentsemphasisethatduring
their career they looked for new challenges and
decided to quit their current work in search of new
opportunities. Recent research agrees that current
young workforce prefer challenging work assign-
ments as they lead to professional progress and
leadership that millennials so desire (Chopra &
Bhilare, 2020; Meng & Berger, 2018). Other in-
terviewees claim they were ready to experiment
with new ideas that could be bases for new busi-
nesses, as well as developing innovative, cutting-
edge products. Talent management scholars report
that millennials achieve this potential if they are
given freedom and opportunities to share their
vision and work on projects that require and foster
creative and entrepreneurial spirit (Brueckner &
Mihelic, 2019).
Someskillsandcompetencescorrespondbetterto
thesocialisedself,otherstotheself-authoringmind.
Creativity,innovationandopportunity-seekinghelp
entrepreneurs develop and evolve and thus move
from stage three to stage four. The person with a
self-authoring mind, “exercises personal authority
on behalf of advancing or enhancing one's own
position, status, advantage, agenda, mission, or
profile” (Kegan, 1994, p. 225).
The desire to be innovative and take risks shows
their readiness to be different and act distinctively,
beyond the expectations of their environment.
These skills differentiate them from others. Instead
of taking a ‘usual’ approach to work as employees
for other businesses, theycreatejobs for themselves
andothers,andthroughtheirinnovativeenterprises
or business ideas aim to make a difference in the
world.Bydoingthis,theyachievestatusandafaster
growth at both personal and professional levels
(Chopra& Bhilare, 2020; Meng& Berger, 2018; Pant
& Venkateswaran, 2019). In this research, millennial
entrepreneurs tend toexercise personal authority in
order to develop their own business and can stand
up to the expectations of others (Kegan, 1994). We
postulatethatthetendencyforcreativity,innovation
andopportunity-seekinglivesinentrepreneurswith
self-authoring minds.
3.1.3 Physical and mental characteristics
The final category covers the physical character-
istics of a person and their personality traits (see
Table 4). When discussing the latter, the re-
spondents mention self-confidence, ambition and
hard work as important factors for success and
development (Meng & Berger, 2018; Pant & Ven-
kateswaran, 2019). These factors are typical of a
socialised mindset. In turn, courage can be inter-
preted as a step toward a self-authoring mind, as it
means overcoming one's limitations, such as fear of
the unknown, ridicule and failure.
Among physical characteristics, biological sex and
physicalfitnessarementioned.Unsurprisingly,ahigh
energy level is consider e da na d v a n t a g ea n da n
enabler, while poor health constitutes an issue to be
overcome.Twofemalerespondentsmentionsexasan
Table 3. Skills and competences.
Skills and
competences
Creativity and innovation Hope to be able to maybe fund new companies later on because I still have a lot
of ideas that I want to try out. (R14)
I also wanted to focus on doing innovations, so not doing something that is standard,
that is already well known for people, for science, for humanity, but also to innovate,
to build something new, to work on products which are the cutting edge of the
knowledge of people and of science. (R8)
Taking advantage of
opportunities
I went to a conference in […] and there was a talk about e-sports. Of course, I wanted
to listen, and there were some professionals from the field. They were talking it was
just how this industry is growing really fast and is with so many opportunities
happening right now. I came back and told my co-founder, and I was “Let's go for it”.
So, we handed in our notice, we quit our jobs and then we started working
[on our own]. (R14)
When I started this e-commerce project, I was learning a lot of new things […]
But right now, as I've been doing it for almost a year, I feel that I need to find a
new challenge. (R10)
ECONOMIC AND BUSINESS REVIEW 2021;23:115e130 121

obstacle, especially in a male-dominated industry.
‘Feminine’ qualities were considered a weakness as
socialisingprocessesforcedtheserespondentstofocus
on thegreater good rather thanpersonalsuccess.
People of a socialised mind tend to feel respon-
sible for co-workers and can adopt co-workers/
subordinates' tasks, while at the same time not
seeing “the others as made up by their own expe-
rience” (Kegan, 1994). Entrepreneurial demands
that are too complex for the socialised mind typi-
cally result in burnout, exhaustion and inner
struggle (Lazarus & Folkman, 1984). Physical and
mental characteristics of ambition, courage, self-
confidenceandphysicalstrengtharemoretypicalof
a self-authoring mind. In conflict, the self-authoring
mind can “exercise mastery over one's work” and
exercise “the psychological capacity to find (or,
really, to invent) one's own way of “doing it””
(Kegan, 1994, p. 182). Thus, by asserting their au-
thority, they are less prone to burnout, exhaustion
and inner struggle at work.
In general, the research reveals that the re-
spondents pay most attention to personal aspects:
freedom and independence, joy and passion, devel-
opment and growth, work-life balance, creativity,
innovationandrisktaking,courage,self-confidence.
These signal the transition towards the self-author-
ingmind(ibid).Someaspectsofthesocialisedmind
(stability,recognition,hardwork)arestillnoticeable.
3.2 Mezzo level: people
This theme involves influencers in young entre-
preneurs' environment. Three categories emerged
from the data: families (nuclear and procreation),
mentors(professional)andnetwork(friends,opinion
leaders).
3.2.1 Family and background
Family and background are described by many
respondents as critical in their entrepreneurial
development (see Table 5). Firstly, families provide
theentrepreneurswithbothfinancialandemotional
support (Edelman et al., 2016). Indeed, young peo-
ple seek financial help from their parents and tend
toco-residetoreducedebt(Bentley&Boggan,2019)
or take advantage of parents’ social contacts for
business development (Edelman et al., 2016). This
support in turn enables them to take risks in new
endeavours. Also, family members act as role
models (Chlosta et al., 2012). While some re-
spondentslearntthebasicsofbusinessbyobserving
their parents running their own businesses, others
assume that setting up their own venture would
achieve the freedom their parents did not have, in
line with Schullery (2013). Finally, some re-
spondents claim that what drives them is the need
to prove themselves to their parents. In some cases,
this means showing gratitude for the support, in
others it means proving their parents wrong and
succeeding without parental support.
Twocorefactorsimpactthepaceoftransitionfrom
the social to self-authoring mind: intelligence and
family background (Kegan, 1994). We identify
several specific family-related aspects: financial and
emotional support, role models and the need for
self-evidence. “Through social interaction and
communication,suchasthefamilyandpeergroups”
young adults “develop a more complex and inte-
grated representations of their material objects as
Table 4. Physical, social (because of sex) and mental characteristics.
Physical and mental
characteristics
Ambition, courage I'm very ambitious. That's what pushed me through everything. I'm also trying to
be brave. I mean, I value it, I value brave people. I'm just trying to become one. (R7)
To be scared of making a fool of yourself is, I think, the biggest obstacle. Like, ultimately
and (…) I think in order to, like, build something relevant. Like you have to be ready
to kind of make yourself look stupid, right? (R6)
Hard work I'm quite a hard worker, I did work quite hard. Like, people work harder than me,
but I do work harder than most people do. Just a little bit of that. (R3)
And I'm a hard worker, without it no one would succeed. (R7)
Self-confidence Trust your instincts, do your due diligence and believe in it. If you don't believe,
nobody else will. (R12)
Physical conditions I have a lot of energy, and this is very important because I every day wake up at six,
make coffee, eat breakfast and go [to] work. And I have more energy than anyone of
my team. (R9)
I don't have physical strength. I have some hormonal problems also. So I'm often tired.
I can't work 15 hour a day, like many of my colleagues do, so that slows me down. (R7)
Sex I mean that feminine qualities don't usually help in that business. I mean construction
and fast choices, fast decisions and so on. It's not a coincidence that it’s a men's world.
[…] I think that the biggest problem is my upbringing as a woman in the society, and
I don't mean specifically my parents, but in general, a girl should be nice, that a girl
should care much what everybody thinks, if everybody's happy and so on. (R7)
122 ECONOMIC AND BUSINESS REVIEW 2021;23:115e130

part of their identity” (Fuhrer, 2004, p. 9). Abundant
financial and emotional support provide important
tacit resources that allow one to experiment with
new work/business/venture experiences and thus
move faster from the socialised mind to the self-
authoring mind. Role models for the socialised-self
exhibitdifferentbehavioursthan therolemodelsfor
a self-authoring mind. The more one is exposed to
thelatter,thefasteronetransitstotheself-authoring
mind. What is more, the greater the need to prove
oneself, the further one searches for solutions and
the wealth of experience accelerates the transition
from socialised to self-authoring mind.
3.2.2 Network and mentors
The respondents emphasise the role of a network
in their entrepreneurial development (see Table 6).
This usually comprises of friends, co-workers and
teachers who inspire and provide them with sup-
port when needed. Indeed, at a university, millen-
nialstudentsseeteachersasmentorsandappreciate
their feedback for faster learning and development
rather than self-directed learning, whereas in
workplaces young people prefer to work with their
mentors as a means of learning in the job and
gainingabetterworkexperience(Chopra&Bhilare,
2020).Theyalsoexpresstheneedformanagerstobe
their mentors, inspire them and lead by example
(Omilion-Hodges & Sugg, 2019). Observing such
influencing people, discussing projects and ideas
helpedyoungentrepreneursofthisstudytodevelop
useful skills. Particularly appreciated was profes-
sional and financial advice from mentors. One UK
respondent cited a lack of such support as a reason
for significant disruption to his business. However,
the influence of others can also be negative e.g.
generational differences (Wong et al., 2008). Some
respondents mention difficulties resulting from
different experiences, mentality and technological
competenceinoldergenerations.Theseforceyoung
entrepreneurs to find ways to co-operate with such
business partners.
Networks and mentors play an important role in
Kegan's framework of personal development. They
are important for both stages under consideration
here.Socialisedindividualstenduncriticallytoaccept
advice, beliefs and ideas provided by mentors and
professionalnetworks.Self-authoringindividualsfil-
ter, select and adjust them according to their own
ideology.Keganfurtherclaimsthattheself-authoring
person aims to enhance what has been learnt from
mentors so that they “no longer pattern ourselves
Table 5. Family and background.
Category Sub-category Illustrative quotes
Family and
background
Financial support I don't come from a rich family, but I don't come from a poor family either, and
there was always money for education, and there was always, like, money to eat
healthily and eat what I want. So I think that it’s a strong factor because I didn't
grow up fearing about my material state, and I could really just focus on what
I like to do. I'm not sure if I would decide to open my first business without previous
real work experience and take the risk without having a steady financial situation. (R10)
I think the vast majority is definitely your environment. Like if you're if you're a super
smart, intelligent, hardworking guy born in the middle of Africa, your chances of
succeeding are probably lower than if you're from a rich Swiss family. (R6)
Emotional support I have a very supportive wife and every big business decision I discuss with her.
She's my best adviser. And also she can recognize when I'm too tired to make
big decisions. (R9)
I had this comfort that if I don't have money, if I have any problems, I can always go to my
parents who can help me. So I wasn't alone in this world. I think that's what my father
unintentionally taught me that you can do what you want every time. You can reach high. (R7)
Role models All I've known is [my parents] owning their own business. And the network of their friends
just happens to be, a lot of our family friends have their own businesses as well. So I kind of
always from a young age associated wealth with running your business. (R5)
I think in some ways it does come from your parents. I saw my dad work really hard but not
get that much time off and that always felt a little bit unfair if, you know, your parents miss
some of the stuff that you thought was really important, like they couldn't make it to your
games … I just didn't really want that, I just think we've got one life and it's really, really cool
and we've got to make the most of it. (R1)
Proving oneself I would like to be proud of myself, and I also want to make my parents proud. Because they
gave me so much that I know there will not be enough time to give them back. (R13)
I have a theory that I was trying or maybe I still am trying to prove something to my father
who also runs his own company, much bigger than mine. I think that I felt underestimated
and as a girl I felt that he didn't include me in his business. (R7)
ECONOMIC AND BUSINESS REVIEW 2021;23:115e130 123

exactlyafteranyofthem.Their“way”,howevermuch
admired, is, finally, not our way, and our way is not
quitetheirs.”(Kegan,1994,p182).
Ingeneral,mezzolevelinfluences(family,mentor
and networks) are important elements identified by
allmillennialentrepreneurs.However,accordingto
Kegan (1994), the socialised and self-authoring
minds differ in their perceptions of these mezzo
influencers. In our research, respondents valued
family expectations, mentors’ advice and expertise
provided by their networks. As such, these ele-
ments co-construct parts of their identity (Fuhrer,
2004). Furthermore, they consider them but do not
rely on them. On the contrary, the majority of our
entrepreneurial millennials accept only those ele-
ments that which resonate. This filtering process
indicates a transition from a socialised to self-
authoring mind.
3.3 Macro level: institutions
The third theme refers to institutions and com-
prises three categories: education, employment and
special programmes aimed at helping young com-
panies. They reflect the influence of external and
organisational factors.
3.3.1 Education
The respondents present polarised views of edu-
cation (see Table 7). The biggest difference was be-
tween the views of entrepreneurs from Central and
Eastern Europe and those in the UK. Poles and
Slovenes claimed that higher education provided
them with necessary basic knowledge and helped
them shape certain skills, such as learning new
thingsandthinkingcritically.Severalcomplainedof
an over-emphasis on theory and superfluous skills,
in line with Fenton and Barry's (2011) research. UK
entrepreneurs view university as the institution that
provided them with the most relevant knowledge
and support to take an entrepreneurial pathway in
their professional development. These results are in
line with recent research. In Visegrad countries
(Czech Republic, Hungary, Poland and Slovakia),
entrepreneurial education based on a strong theo-
retical foundation is reported tohave lessimpacton
students' entrepreneurial intentions (Nowinski et
al., 2019). In Western economies, for example
Ireland and New Zealand, entrepreneurial educa-
tion through experiential and authentic experiences
inspires future entrepreneurs to undertake entre-
preneurial journeys (Fenton & Barry, 2011; Mel-
drum, 2008).
Table 6. Network and mentors.
Category Sub-category Illustrative quotes
Network Inspiration Yeah, network, that's 80%. Like, if you're around good people, like, they're going to make
you work, they're going to make you excited, they're going to make you motivated, they're
going to make you, you know, think about the ideas, they're going to make you creative. (R6)
Support
(and lack of it)
Your friends, parents, definitely. Because it's really important in what kind of spirit
you grew up. Get in touch with people who are somehow likeminded to support each other.
This is very important to be with people who have quite the same goals as you. (R13)
It's really hard to know where to start. So, to be in a situation where you're in an accelerator
programme or some form of incubator or support group where it just gives you the push
you need and a little bit of confidence to act on things, and it pushes you forward a lot faster
than you would do on your own. (R5)
Yeah, I mean, when I first started off the business, it was something completely different. It's
still a really good idea. I would like to revisit it, but it was a challenge, because it's an industry
I had no idea about and I struggled with kind of support on that, it wasn't growing as fast as
I wanted. So I did then pivot to the online community, because the brand that I had created was
growing so much faster than the product and I could actually do something with it. (R5)
Development I wouldn't be able to develop my skills and my knowledge to the level at which I am in the
moment without so many great people whom I had the opportunity to meet and collaborate
with in the past. (R8)
Generational
differences
And it's a very different mentality that you face right now. So, all the people we work with,
are definitely much older, and definitely much more experienced. But are also feeling much
more risk averse, much less tech savvy. (R6)
Mentors Advice When we started our company, we cooperated with one of HR companies, and they transferred
to us some HR knowledge. And now we have two or three people whom we can meet,
talk about our problems, and they can advise us. (R11)
We also have a mentor, not in our company but he works with us once a week, and he's helping
us with some financial issues or how to develop the business model. So I don't have any huge
issues because I know where to find solutions. (R14)
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Education is expected to provide not only a
theoretical knowledge but also experience to form
the basis for entrepreneurial decision-making and
the development of competences required for an
effective business. University graduates, indeed,
prefer experiential and interactive learning to equip
them for future work roles (Chopra& Bhilare, 2020;
Fenton & Barry, 2011; Meldrum, 2008). Millennial
entrepreneurs judge their education critically from
the perspective of their business vision. Many
demonstrate self-authoring, since all possess a
vision, which is the core attribute of one's own ide-
ology. “The demand for a vision is really a demand
for an ideological way of knowing” (Kegan, 1994,p.
172). In other words, self-authoring individuals
shape the interpretations of education to their own
internal standards and vision, defined as a higher
order conceptual system.
Self-authoring individuals can see how they
construct their narratives and interpretations of
their businesses, thereby exercising greater control
over their business experience and greater
responsibility for how they feel and think about
business challenges. A self-authoring mind “takes
the responsibility for the way the situation is
organised and directs himself to a different kind of
exploration that is not captive of the situation … He
has gone beyond courage receiving the world ac-
cording to the other's stamp and then assigning
blame to the other for the way he feels, and has
rediscovered his own hand in the matter” (Kegan,
1994, p. 178). Millennial entrepreneurs know they
are not slaves to experience or education. When
education fell short, they were not frustrated by
failing expectations but instead took action to ac-
quire knowledge elsewhere, including through
experimentation in their own ventures. The oppo-
site is also true: when frustrated by business bar-
riers, some returned to school to fill gaps in
knowledge, skills and experiences.
3.3.2 Employment
This category includes previous internships, part-
time and full-time jobs (see Table 8). Similar to
Table 7. Education.
Category Sub-category Illustrative quotes
Education Theoretical basis I think that the theoretical background is very important. So, first of all, I'm able to learn
many new things much faster. (R8)
I knew that if I wanted to have my own business, I would need to get business knowledge and
business skills, so that's why I decided to enrol it at the Faculty of Economics and it was probably
one of the best decisions that I made in my life. (R14)
Insufficient skills There's no education that can prepare you for the world. (R7)
I think that in our university life and in our university education, and we just need more practice
and that networking sessions and reporting and business case. (R11)
So there are two ways to get a diploma of such management skills. You can go to a diploma mill
and buy a diploma, or you can go to the university and would you learn ninety per cent of the
stuff you don't really need. It's funny, but it's not funny for a student that completes one university.
Suppose a businessperson wants to complete a management training and some programming and
some arts. You would have to finish three colleges to get the three skills you really wanted and
twenty-seven that you don't really want. And it would take you twelve years. (R15)
I think there is too few education programmes for the skills that we really need. (R15)
Prepares for
entrepreneurial
journey
[The] university was really worthwhile for me and it was the extracurricular things that were more
worthwhile. The things that we learned in lectures were fine, it was all the extra bits that I did that
helped. So the career service at the university is so good, the people who actually say like ‘look,
this is a viable idea, you can run a business’ as opposed to ‘just go and get a job’.[ …] (R1)
I think that's what the university did a really good job of, an education did a really good job of,
it makes you think like you can achieve anything. (R1)
The marketing degree is very much a 50-50 divide between design and marketing. So almost
teaches you how to build a brand, teaches you how to make the product, how to market the
product, how to follow through on everything. So it kind of sets you up for that kind of work
[…] and you have to create your own collection, and marketing, but then build a business plan
for that collection. (R2)
I think, because it was such like an all-around course, it made you think about absolutely
everything. It didn't make you think, oh, I just want to make a pretty garment, or a pretty bag.
It made you think, like, I want to make it a pretty bag, but what's the realistic value of this bag?
So you understood cost and you understood money before, which I think a lot of design people
don't understand, money. (R2)
My education was good for what I'm doing. I've got no complaints whatsoever, they set me
up in a good way to be able to do that. […] School was okay, I enjoyed my degree …
I think it was interesting and it led well into what we're doing here. (R3)
ECONOMIC AND BUSINESS REVIEW 2021;23:115e130 125

education, opinion regarding employment is polar-
ised between the Polish, Slovene and UK entrepre-
neurs in this study. A number of respondents claim
that previous employment taught them valuable
lessons and provided them with professional cre-
dentials, useful skills and experience which helped
them realise their true purpose in life. The process
was not necessarily pleasant but considered valu-
able in the long run. Others focus on difficulties,
such as job loss, stress and an unbalanced life.
Although negative, these experiences also provided
valuable lessons and emotion which resulted in
taking action, such as starting their own company.
Talent management literature reports that the
millennial workforce easily switchesjobs (Chopra&
Bhilare, 2020; Gallicano et al., 2012; Meng& Berger,
2018), does not make a long-term commitment to
their first employer (Gallicano et al., 2012) and use
gained knowledge and skills to shape their entre-
preneurial careers.
Millennial entrepreneurs can judge employment
experiences similarly to education. Vision and
perspective are constructed through four core ele-
ments: frustration, unemployment, search for pur-
poseandlearning.Theydonotonlycomplainabout
theirworkexperienceandfeelfrustrated,butreflect
on what they learned, gaining new insights into
their preferences. They also strive to maintain au-
thority over their own definition of employment
experience and work-purpose (Kegan, 1994).
3.3.3 Special programmes
These programmes are offered by various
institutions and aim to help young people develop
their entrepreneurial talents and ideas. While
some are general, others aim for specific
commercialisation and development of business
ideas (see Table 9).
Special programmes present a final layer of in-
fluenceonthemillennialentrepreneurs.Theyselect
which programme appeals to them using their self-
authoring minds, based on opportunities for com-
mercialisation, business development and knowl-
edge development. Their judgement process can be
explained by Wortley and Amatea's (1982) adult
development framework, linked to work/career-
related tasks (Kegan, 1994).
According to this framework, a socialised mind
selects a special programme for “establishing spe-
cific work identity (and) productivity with push
upward/ahead” (Kegan, 1994, p. 179) Via special
programmes, a person in this stage seeks to
formulate an ideal work identity. A developing self-
authoring mind selects such special programmes in
order to seek mastery, promotion, recognition, cre-
dentials and confidence (‘making it’). A fully situ-
ated self-authoring mind selects programmes to
redefine “work/role/goals in lights of changing
values/priorities/possibilities” (Kegan, 1994). It
seems that entrepreneurial millennials are search-
ing for special programmes that will mostly help
them attain mastery, promotion, recognition, cre-
dentials, and confidence crystallising their entre-
preneurial work identity. We conclude that most of
the entrepreneurs in our research operate in the
transitoryspace between thesocialised andtheself-
authoring mind.
In summary, at the macro-level, entrepreneurial
millennials operate in the space between the social-
isedandself-authoringmind.Theyaremovingfrom
the third to the fourth order of consciousness. We
proposethatthedemandsofentrepreneurshipcause
Table 8. Employment.
Category Sub-category Illustrative quotes
Employment Frustration I went to work at a marketing agency and that motivated me quite a bit because they didn't run
it particularly well and I know it sounds funny but I went in and they were charging a lot of
money for my time and I wasn't getting paid very much and I don't think there were really good
managers and you just kind of think ‘I could do it better’. (R1)
Losing job The person I was employed by then, his dad left his job, and he was like “oh, I need a job for
my dad”. And I was like “right, I'm ready, I'm gone”. (R2)
Finding one's
purpose
I was quite keen to get a graduate job and not go straight into entrepreneurship, purely for the
experience and kind of testing the water. I didn't know what it was like to work in a career.
And then it was a crescendo of absolutely hating the culture of my job, my work life balance
being really bad. (R5)
Learning skills My first job, it gave me some insight and some you know, good tips to … how to talk with
clients, how to organize something, how to manage the process of designing things. (R7)
I was trying to build a skill set for that for like, from my early career, right, so right after the
college and right after the masters, and I think, well consulting as you know, it is very sexy
for your CV. (R6)
I think because I worked in jewellery for so long, I was kind of, the accessories industry was
what I knew because that's what I worked in. So it kind of made sense to stick with accessories,
because I knew how to market and do accessories. (R2)
126 ECONOMIC AND BUSINESS REVIEW 2021;23:115e130

this as the self-authoring mind is more suitable for
the complexities of managing an entrepreneurial
venture. The pressure for growth from the outside
world and the inner urge to facilitate this process
emerges due to the advanced consciousness in self-
meaningmakingononehandandamovetotheself-
authoring mind on the other. This developmental
moveservesasastrongmotivationalforcetosustain
apersoninthefaceofentrepreneurialstruggles.
4 Conclusions, limitations and practical
implications
This research looks at young entrepreneurs’ mo-
tives for choosing the entrepreneurial journey over
a career in larger organisations. Their life and pre-
vious work experiences, although minimal, lead
them to the decision to start their own business. As
excerpts from 16 semi-structured interviews show,
the millennial entrepreneurs make such decisions
based on three factors: their own skills, values,
competenciesandpreferences,thepeopletheymeet
and the support they receive from them and the
institutions at which they study or signup for
entrepreneurial development courses. A combina-
tion of this triad of internal and external factors
helps entrepreneurs achieve their potential and put
their business ideas into practice. As a result, they
are able to move to a higher personal development
stage.
It is apparent that dissatisfaction with previous
working conditions motivates entrepreneurs to set
up their own SMEs. However, without specific
personal characteristics, entrepreneurial endeav-
ours would be unachievable. Risk taking, courage
and a desire for innovative solutions drive young
entrepreneurs to search for better working condi-
tions and more opportunities for their personal and
career development. Their self-authoring minds, or
transition from the socialised mind toward the self-
authoring mind, challenge current work and life
systems. Being selective about collective values,
ideas,conceptsandadviceallowsthemtofindmore
innovative solutions, giving more satisfactory con-
ditions, better pay, self-confidence and self-aware-
ness at a personal level. More extreme experiences
advance their professional capacity. Indeed,
millennial workforce wants their ideas, efforts and
skills to be acknowledged and appreciated, they
value autonomy and seek more creative, innovative
and challenging experiences that lead to more
advancedprofessionallives(Chopra&Bhilare,2020;
Meldrum, 2008; Meng & Berger, 2018; Pant & Ven-
kateswaran, 2019), thus making entrepreneurial ca-
reers appear to be more suitable and satisfying.
Some of the entrepreneurs we studied benefited
greatly from university courses, which prepared
them for their entrepreneurial journeys. Not in
Central Europe, however, where they still created
entrepreneurial ventures to satisfy a desire for
practical experience that universities there do not
provide. It can be argued that both positive and
negative factors shift the millennials’ attention to
business development opportunities. Their belief in
themselves and acceptance of failure allow them to
move to the self-authoring mind.
Table 9. Special programmes.
Category Sub-category Illustrative quotes
Special programmes Commercialisation I had some opportunities to attend some programmes for people interested
in commercialising their knowledge and that was very helpful because
I learned what's the mindset and what's the perspective of people from this
other side, from this business area and that also helped me develop my
entrepreneurial skills, I think. (R8)
Business development I found this opportunity with the ignite accelerator programme. And that
was kind of my … Everything coming together, let's just do it now. (R5)
Yeah, I was working for a charity in [country] for a bit. And then after
I finished working in [country], I came back to [city in UK]. And while
I was in [country], I had this idea, which I spoke to my brother about.
My brother was living in [city] at the time and he pointed me in the direction
of an accelerator programme, which he recommended that I kind of reach out
to and see if they were interested. So this was a programme called Elevate,
which is run by an accelerator called The Ventury. And I cannot recommend
The Ventury enough, they are just a fantastic company. (R4)
Organisations In the past, I was also a member of organization which is called […] and that's
why I also had the opportunity to meet some great Polish scientists when I was
even only in my high school or secondary school and I also had opportunity to
meet and talk with other young people in my age, at the same age, who also had
very good skills in mathematics or other fields of science so yes, I guess that all
these things helped me out, for sure. (R8)
ECONOMIC AND BUSINESS REVIEW 2021;23:115e130 127

This research provides the insights into the chal-
lenges the young workforce faces when making life
and career choices. They are revealed through a
thematic analysis of 16 entrepreneurs’ views shared
in semi-structured interviews. While these in-depth
accounts cannot be generalised, they yet provide a
strong basis from which to suggest to SMEs how to
meet the needs and expectations of a younger
workforce. Further research might investigate
country-specific aspects of challenges and opportu-
nities,astheseresultsdemonstratethehomogeneity
of younger people in the chosen countries. The in-
terviews could be conducted in additional countries
to add to the knowledge base and our resulting
proposals could be surveyed quantitatively.
To contribute to better HRM in the SME context
and provide better prospectsfor ayoung workforce,
all three groups involved can act. Young entrepre-
neurs can reflect on and analyse their current and
previous work experiences and through these inner
reflections address the issues that prevent them
achieving their potential. Universities, especially in
Central and Eastern Europe, need to provide more
experiential learning, while SME owners can create
idealworkconditionsforyoungpeople.Duetotheir
smallness, such companies can create and offer
flexibility and autonomy not often available in large
organisations. Flexibility in work hours and work
patterns can be a motivating factor for someone
seeking work-life balance (Aldoory et al., 2008), and
this resonates with the millennials who took part in
this and previous studies (e.g. Dziewanowska et al.,
2019; Kuron et al., 2015). In the view of the younger
generation,asuccessfulcareerisnolongerbasedon
materialistic achievements but must instead be
balancedwithopportunitiesforself-explorationand
self-discovery (Dziewanowska et al., 2019)a n d
ensuring a positive impact on their mental and
physical wellbeing (Brueckner & Mihelic, 2019). To
ensure this provision, managers or owners of the
firms need to play many roles: mentors, teachers,
managers, friends and gatekeepers (Omilion-
Hodges& Sugg, 2019). SMEs can engage and retain
their young talent only when managers or owners
are prepared to develop less formal work relation-
ships with millennial employees, lead by example,
provide feedback (Omilion-Hodges & Sugg, 2019)
and assign important work tasks for challenge and
advancement (Meng & Berger, 2018; Pant & Ven-
kateswaran, 2019).
To open, lead and manage one's own ventures
requires not only a vision but also ambition,
courage, passion and the need for freedom and in-
dependence. The SME owners in this study share
similar skills, values and competences as Genera-
tions Y and Z, thus making private business ven-
turesanidealworkenvironmentforyoungtalent.In
fact, giving young employees the freedom to make
decisions not only empowers them but also pro-
vides them with opportunities for growth and
further development (Brueckner & Mihelic, 2019;
Pant&Venkatswaren,2019;Meng&Berger,2018)of
their self-authoring mind.
Entrepreneurial employees share a need for
innovation and creativity. Recent research suggests
that trusting young talent with their ‘out-of-the-box
thinking’ can solve old organisational problems
(Brueckner & Mihelic, 2019). Moreover, trust can
lead to building and fostering collegiality (ibid),
loyalty and commitment (Hershatter & Epstein,
2010), accompanied by strengthening employees'
relationships with business leaders (Thompson &
Gregory, 2012) or at least influencing as to how the
latter are viewed (McClean & Collins, 2019).
The looser structure and relative informality that
define SMEs can be very attractive and appealing
for a young workforce, echoing Bryson and White's
(2019) view that properly organised HRM is not
feasible in small enterprises. Thus, for SMEs to
manage their own human resources involves infor-
mality and this is a potential area for attracting
suitable talent as a basis for sustainable competitive
advantage. In fact, informality can allow SMEs to
develop their own approaches to recruiting and
managing talent. This can support the development
of “emergent talent management practices in SMEs
that are often localized, individualized and contin-
gent upon a deep knowledge of their internal and
external contexts.” (Skoumpopoulou et al., 2019).
Acknowledgements
This project has received funding from the Euro-
peanUnion’sHorizon2020researchandinnovation
programme under the Marie Skłodowska-Curie
grant agreement No 734824.
Scientific paper funded from financial sources for
science in the years 2017e2020 awarded by the
Polish Ministry of Education and Science for the
implementation of the international co-financed
project.
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