The entrepreneurial role comes with its own set of stressors as well. Broadly speaking, entrepreneurs suffer from three key role‐related stressors: role conflict, role ambiguity, and role overload (Tahir 2016). Role conflict arises when there is a discrepancy in role expectations between the entrepreneur and others (Kahn and others 1964). Role ambiguity stems from a lack of clarity regarding desired expectations, and is intensified by a lack of skills, experience, and information (Tahir 2016). Finally, role overload occurs when entrepreneurs lack sufficient resources to meet the expected commitments and obligations associated with their role (Latack 1981). The third stressor, role overload, can be serious in the case of SME entrepreneurs. High levels of role stress have been frequently linked to withdrawal because of low job satisfaction (Tahir 2016; and Wincent and Örtqvist 2009).

It should be noted that not all stressors stem from business or personal factors. Among these, some are within the entrepreneur’s locus of control, while others are outside. Uncertainties in the external environment — which may also be perceived by entrepreneurs to be outside of their control — can also create stressors that impact their ability to function within their business environment. This includes, among others, factors such as natural disasters, large‐scale migration, and violent conflict. Across studies, these have been linked to higher stress and anxiety (although not specifically tested with entrepreneurs), as well as general unpredictability and risk that affect functionality and the work of the entrepreneurs (Grant and Ferris 2017; and Tahir 2016).

An additional stressor that may be particularly relevant for entrepreneurs operating in FCV contexts is exposure to traumatic experiences, such as conflict, recurring violence, gender‐based violence, sexual assault, and so in. Such experiences can result in psychological trauma. Traumatic experiences can be extremely stressful, and can lead to traumatic stress, which manifests itself in a range of psycho‐emotional and psychopathological outcomes, including Post Traumatic Stress Disorder (PTSD) (Iribarren and others 2005; McFarlane 2010; Steel and others 2009; and Strohmeier and Scholte 2015). Tol and others’ (2014) meta‐analysis of epidemiological surveys shows the prevalence of PTSD in conflict‐affected populations to be as high as 15.4 percent (relative to 7.6 percent in the general population).

Studies have shown that war‐affected households and individuals tend to have less diversified livelihood sources, assets, wealth, and wages (Good and others 2006; Mazurana and others 2014; and Savoca and Rosenheck 2000). Furthermore, not only does direct exposure to violence harm the well‐being of households in FCVs, but also the _perceived_ risks from living in those settings. In Uganda, the total losses for households directly exposed to violence amounted to 10 percent, whereas the total losses from perceived risk amounted to 37 percent (Rockmore 2016). Although the literature is scant when it comes to the impact of trauma on entrepreneurs and business performance, the link between trauma and stress, and its subsequent effect on livelihoods is well‐established. As such, it is likely to hold true for entrepreneurs in FCV contexts as well.

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