Dealing with Failure: The Media’s Portrayal of Entrepreneurs in Croatia

Abstract

Entrepreneurship and stigma have been subjects of interest in various studies within the entrepreneurship field. The evidence suggests that societal stigma may lead to the stigmatization of entrepreneurs who have faced business failure, potentially influencing their strategic decisions and the likelihood of re-entry into entrepreneurship. Additionally, the liability of newness and the stigma of failure are critical factors that shape entrepreneurial dynamics and outcomes in different national contexts. The fear of societal judgment and negative perceptions can deter individuals from engaging in entrepreneurial activities, hindering entrepreneurial risk-taking and innovation, and limiting the growth and development of entrepreneurial ventures. The societal stigma associated with business failure in former socialist economies has been a significant factor influencing entrepreneurial activities in these regions. Research has indicated that socialist ideology historically stigmatized private proprietorship, associating it with negative connotations such as parasitism, exploitation, and profiteering. This lasting stigma has had implications for individuals pursuing entrepreneurial opportunities in post-socialist economies, impacting their perceptions and decisions regarding entrepreneurship. The transition from socialist planned economies to market-oriented systems has brought about changes in attitudes towards entrepreneurship. While socialist legacies may have initially influenced societal norms and perceptions of entrepreneurship, the emergence of market economies has led to a reassertion of entrepreneurship in these regions. Numerous studies indicate that the way media depicts entrepreneurs and their ventures plays a crucial role in shaping the attractiveness of entrepreneurship as a career choice and in developing social norms pertinent to the entrepreneurial spirit. In our research, we utilize qualitative content analysis to examine the representation of entrepreneurship, including the successes and failures of entrepreneurs, in Croatian media. The findings reveal a dominant adverse perception of entrepreneurship as a career in Croatia, with entrepreneurs frequently depicted as tycoons. Additionally, since the 1990s, entrepreneurs have faced stigma, and there appears to be no evident direction for improvement in this area.