A social identity perspective on lesbian, gay, bisexual and transgender (LGBT) entrepreneurs’ networking behavior

Purpose This study aims to draw upon entrepreneurial network resource and social identity theories to advance the understanding of LGBT entrepreneurial behavior. The authors focus on what resources are acquired by LGBT entrepreneurs from LGBT-specific networks, such as entrepreneurs’ associations or chambers of commerce, and why they might engage with them. Design/methodology/approach As an initial scoping exercise, Study 1 quantitatively examined the different resources acquired via a survey of 109 LGBT entrepreneurs from the UK, mainland Europe and North America. Building on these findings, Study 2 qualitatively explored why LGBT entrepreneurs acquire resources from and engage with LGBT-specific networks via interviews with 23 LGBT entrepreneurs (with representation from the UK, Mainland Europe and North America). Findings Study 1 indicates that being more involved in LGBT-specific networks is associated with stronger resource acquisition, particularly those that are relational and psychological in nature. Study 2 reveals that such networks can act as psychologically safe holding environments where resources that fulfil needs for belonging and uniqueness are acquired. However, certain challenges and issues arise when trying to meet all members' needs. Practical implications The findings underscore the need for LGBT networks that are run for, and by, LGBT entrepreneurs. Such networks allow LGBT entrepreneurs to be more authentic about, and empowered by, their LGBT identity in their business such that they can develop a stronger sense of individual and collective pride in being part of an LGBT entrepreneurial community. Yet, there is a need to understand the variety of identities and needs across the LGBT community. Originality/value The authors advance our understanding of LGBT entrepreneurs by connecting knowledge on entrepreneurship with that on applied psychology. The authors develop an original contribution by focusing on how LGBT entrepreneurs use LGBT-specific networks to meet important psychological and relational needs, thus speaking to the importance of developing an LGBT entrepreneurial community that enables LGBT entrepreneurs to express their LGBT and entrepreneurial identities.