Behind the Financial Success of Micro-Entrepreneurs: Evidence from Tunisia

Najla Wannès, Anis Jarboui

Financial success in micro-entrepreneurs is a key dimension of entrepreneurial success and depends on multiple forms of capital. While micro-entrepreneurs rely on human, social, financial, and psychological resources, the role of psychological capital remains underexplored in emerging economies such as Tunisia. This study examines how these resources influence the financial success of Tunisian micro-entrepreneurs. Data were collected from 105 micro-entrepreneurs through structured questionnaires and analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results show that financial capital and strong ties have a positive and significant effect on financial performance. Among psychological capital dimensions, resilience and optimism are significant predictors, while self-efficacy has a negative effect and hope is not significant. Human capital, network size, weak ties, age, and gender do not show significant effects. These findings highlight the importance of financial, social, and psychological resources in shaping financial performance and suggest that supporting micro-entrepreneurs should include strengthening both social networks and psychological capabilities.