Entrepreneurs’ resilience and social capital mobilisation in tranquil times: evidence from Italian SMEs

Purpose This study investigates how entrepreneurs’ resilience is associated with both the mobilisation of informational social capital and perceived small and medium-sized enterprise (SME) growth under relatively stable conditions. While resilience is widely recognised as important for supporting entrepreneurs during crises, little is known about its behavioural implications in low-turbulence contexts. The study also examines whether the relationship between resilience and external information search varies in ethnic family firms. In these firms, family-based and ethnic embeddedness may affect entrepreneurs’ engagement with external information. Design/methodology/approach Drawing on resilience and social capital theory, we test a moderated mediation model linking entrepreneur resilience, informational social capital, and perceived SME growth. The analysis uses survey data from 560 SMEs in the Metropolitan City of Milan. Hypotheses were assessed using standard partial least squares structural equation modelling (PLS-SEM) with bootstrapping, supported by robustness checks, including alternative performance measures. Findings Entrepreneur resilience is positively associated with perceived SME growth but negatively associated with the mobilisation of informational social capital. Informational social capital positively influences perceived growth and partially mediates the resilience–growth relationship, revealing a competitive mediation mechanism. Moreover, the negative association between entrepreneur resilience and informational social capital is weaker in ethnic family firms. Originality/value The study refines understanding of entrepreneurs’ resilience by demonstrating that, under relatively stable conditions, resilience can both support growth and constrain external resource mobilisation. The study contributes to social capital theory by identifying a competitive mediation mechanism. The study also demonstrates that the resilience–resource mobilisation relationship varies according to the relational context in which entrepreneurs are embedded.