The sharing economy's impact on motivations to enter hybrid entrepreneurship: Using self-determination theory as an explanatory framework

Abstract

The expansion of the sharing economy has significantly disrupted industries and transformed classifications of employment. The sharing economy has reduced barriers to entry for entrepreneurs, however the decline in entrepreneurship in many countries seemingly contradicts this. Hybrid entrepreneurship (HE), however, has seen substantial growth aligned to the sharing economy's development. This paper explores the link between the sharing economy and motivations for pursuing HE, in particular using the self-determination theory as a theoretical framework. Through the use of semi-structured interviews with 20 hybrid entrepreneurs, four extrinsic and four intrinsic motivations were identified. The research highlights the extent to which the sharing economy has changed the path of entrepreneurial venture development, easing the accessibility thereof. This research has implications for many stakeholders in the sharing economy. Future researchers should consider whether an individual's industry of salaried employment impacts their primary motivation for pursuing HE, examine the impact of regulation on the sharing economy and develop strategies for established businesses under threat as a result of sharing economy business models.