Vol. 13 No. 4 (2025)
December 2025

Articles

Generation Y entrepreneurial competitiveness: An empirical analysis of determining factors

Published 2025-12-28

  • Bilal Khalid
    • ,
  • Singha Chaveesuk
    • ,
  • Wornchanok Chaiyasoonthorn

Bilal Khalid
King Mongkut’s Institute of Technology Ladkrabang

Singha Chaveesuk
King Mongkut’s Institute of Technology Ladkrabang

Wornchanok Chaiyasoonthorn
King Mongkut’s Institute of Technology Ladkrabang

Abstract

Objective: The research aimed to identify the determining factors that influence Generation Y entrepreneurial competitiveness. The study was motivated by this Generation’s significant impact on the global economy, as they comprise a quarter of the global population, and the fact that they grew up in a period of technological advancement.

Research Design & Methods: We used a quantitative survey research design to empirically collect primary data from Gen Y entrepreneurs, using a sample size of 384 respondents. The model had six independent variables, i.e., personal traits, entrepreneurial self-efficacy, networking skills, digital capabilities, fear of failure, and growth mindset. The mediating variable was entrepreneurial orientation, while the dependent variable was entrepreneurial competitiveness. We evaluated the model using confirmatory factor analysis (CFA), and we tested the hypotheses using structural equation modelling (SEM).

Findings: We found that entrepreneurial self-efficacy, digital capabilities, networking skills, and growth mindset significantly enhance Gen Y competitiveness, while personal traits showed no significant effect. Fear of failure had an unexpected positive impact. Entrepreneurial orientation did not mediate these relationships. Innovation and adaptability were key drivers, but digital transformation emerged as the strongest predictor of Gen Y entrepreneurial success in competitive markets.

Implications & Recommendations: The study recommended Gen Y entrepreneurs and policymakers entrepreneurial training and education to enhance their entrepreneurial capabilities; networking strategies and skills, which are vital in nurturing a diverse workforce; and digital transformation for small businesses as a strategy to achieve entrepreneurial competitiveness.

Contribution & Value Added: Our research advances entrepreneurial research by identifying key drivers of Gen Y competitiveness: digital capabilities, self-efficacy, and networking, while challenging conventional assumptions about personal traits and fear of failure. It bridges gaps in generational entrepreneurship literature by empirically validating technology’s pivotal role. The findings offer a refined framework for policymakers and educators to cultivate adaptive, digitally fluent entrepreneurs, enhancing competitiveness in evolving markets. This work enriches theoretical discourse and provides actionable strategies for fostering Gen Y entrepreneurial success by integrating psychological and technological perspectives.

Keywords

generation Y, entrepreneurial competitiveness, entrepreneurial orientation, entrepreneurial self-efficacy, digital capabilities

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Author Biography

Bilal Khalid

Bilal Khalid, the Assistant Dean at KMITL Business School, does research in many fields such as digital change, how to handle new ideas, and keeping a business competitive in the long run. His research interests include omnichannel marketing, gamification, and digital payment systems in retail. Currently, he is paying more attention to AI and eco-friendly ideas. Dr. Khalid has written many articles about consumer actions, MOOCs, renewable energy, and how people feel about self-driving cars. His recent work looks at global citizenship in international higher education and omnichannel shopping in the fashion industry. Dr. Khalid’s work combines ways to study technology adoption with ideas about sustainability and entrepreneurship. This gives useful information about digital competition and new ways of learning in growing economies.

Singha Chaveesuk

Dr. Singha Chaveesuk, an associate professor and Dean of KMITL Business School, is a respected expert in how businesses take up digital change and new tech. For more than two decades, his research has shown a relationship between tech advances and sustained growth, concentrating on how individuals and groups adopt new tech to better society and the economy. His work has gone from early looks at how people used mobile phones, cloud tech, and online learning to today’s studies on farming run by AI, digital payments, and sustainability. Dr. Chaveesuk studied TAM, UTAUT, and TPB as models for understanding humans’ decisions about technology usage. His research studies thought processes, social influences, and managerial decisions for adoption in Thailand and elsewhere.

Wornchanok Chaiyasoonthorn

Associate Professor Dr. Wornchanok Chaiyasoonthorn, Vice Dean at the KMITL Business School, specializes in technology management, organizational behavior, and technology adoption. Her research is concerned with how digital transformation is accepted by individuals and organizations in Thailand as studied through models such as TAM and UTAUT. She has significantly added to the understanding of digital innovation in HRM, e-learning, and social media engagement. Chaiyasoonthorn’s work stresses the behavioral and cultural dimensions of tech adoption, with a focus on sustainability and user-centered design.

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