Journal of Management and Business Solutions 3092-7226 2 Serial Number 6 2024 04 01 Identifying the Key Factors Affecting Entrepreneurial Success in Developing Economies: A Qualitative Approach Identifying the Key Factors Affecting Entrepreneurial Success in Developing Economies: A Qualitative Approach 1 10 EN Journal Article 2024 02 15 <p>This study aims to explore and identify the key individual, institutional, and socio-cultural factors influencing entrepreneurial success in developing economies through the lived experiences of active entrepreneurs in Tehran, Iran. A qualitative research design was employed using semi-structured, in-depth interviews with 28 entrepreneurs operating in various sectors across Tehran. Participants were selected using purposive sampling, ensuring diversity in industry and stage of venture development. Data collection continued until theoretical saturation was achieved. The interviews were transcribed verbatim and analyzed using thematic analysis with the assistance of NVivo software. The research adhered to trustworthiness principles, including member checking and peer debriefing, to ensure analytical rigor. Three overarching themes emerged from the data: (1) Entrepreneurial ecosystem factors, including access to finance, infrastructure, regulatory barriers, and institutional support; (2) Personal and psychological attributes such as resilience, self-efficacy, adaptability, and intrinsic motivation; and (3) Socio-cultural and contextual influences, including social networks, cultural norms, gender-specific challenges, and macroeconomic instability. Entrepreneurs highlighted a strong reliance on informal systems, creative resource use, and personal determination in navigating structural and environmental constraints. Female participants reported additional cultural and structural barriers to entry and growth. The findings underscore the interaction between internal competencies and external environmental conditions in shaping entrepreneurial outcomes. Entrepreneurial success in developing economies is a multidimensional phenomenon shaped by the dynamic interplay of individual traits, socio-cultural context, and ecosystem-level conditions. Policymakers and practitioners must adopt a holistic and context-sensitive approach to support entrepreneurs by improving regulatory environments, enhancing financial access, promoting inclusive training, and fostering cultural acceptance of entrepreneurship as a viable career path.</p> https://www.journalmbs.com/index.php/jmbs/article/download/48/43