The complexity, turbulence and rate of change of the business environment have intensified in recent decades (Ribeiro-Soriano and Urbano 2009). At the same time, small business owners and entrepreneurs have received greater recognition as drivers of economic growth. Several studies (Forsman 2011; McKeever et al. 2014) have reported that long-term economic growth and prosperity require participation from entrepreneurs. Both experts and government authorities seek to foster entrepreneurship as “an appropriate mechanism to face the impacts of the economic crisis” (GEM 2014, p. 100). Entrepreneurship is increasingly considered a milestone on the road towards progress (Semrau et al. 2016). It contributes to countries’ development and prosperity and helps nations cope with growing environmental complexity (Welbourne and Pardodel-Val 2009). As a key driver of economic regeneration and growth, entrepreneurship receives considerable attention (Ferreira et al. 2017). Entrepreneurs identify and solve problems, which at the same time provide opportunities (Lee et al. 2009; Craig et al. 2014). In today’s environment, entrepreneurship encourages the competition that is necessary to reap the rewards of globalisation. One of the pillars of entrepreneurship is innovation (Eckhardt and Shane 2003; Reschke and Kraus 2008). In the knowledge era, an effective way for countries to gain a competitive advantage is through con tinual technological innovation. Innovation is thus a key source of knowledge-based competitive advantage (Jensen et al. 2010). The ability to innovate in technology aids knowledge development. But what form will the trend take in the coming years? And how should researchers link entrepreneurship and innovation to decision-making? Here, we examine relationships stemming from best practices and routines that support decision-making and negotiation processes in groups and societies. The related multidisciplinary activity of innovation has attracted much attention from scholars. Innovation is about planting the seeds for new opportunities to flourish and create value, enabling entrepreneurs to discover, assess and harvest their creative efforts (Shane and Venkataraman 2000; Eggers et al. 2014). Sensemaking, on the other hand, involves “turning circumstances into a situation that is comprehended explicitly in words and that serves as a springboard into action” (Weick et al. 2005, p. 2). Entrepreneurship performance relates not only to innovation but also to entrepreneurs’ ability to match their capabilities to their context using persuasive sensemaking devices that lend coherence to decisions and negotiation (Lounsbury and Glynn 2001; Holt and Macpherson 2010). Negotiation is a general form of social interaction that is necessary whenever conflict arises and there are no fixed procedures to resolve that conflict. To reduce opportunistic behaviour in the negotiation and decision-making process, the other members of the team must share the entrepreneur’s values. In other words, the entrepreneur and his or her team must have common goals, a common vision and coherent strategies (Schjoedt and Kraus 2009).