Abstract
In the context of significant uncertainties in an emerging market, this study investigates small businesses' expectations from government and regulatory institutions that enable them to adapt to new conditions and develop new opportunities arising from uncertainties. Using unpredictive logic enables entrepreneurs' cognitive flexibility and their ability to adapt to changing conditions or transform into new opportunities. As such, collaborating with regulatory institutions allows entrepreneurs to develop more new opportunities in uncertain situations and sustain their businesses. Using insights from in-depth and semi-structured interviews with 25 entrepreneurs in Iran, this study explored that regulatory institutions play a crucial role in enabling small businesses to navigate uncertain times. This chapter contributes to understanding how these institutions guide small firms towards productive entrepreneurship under strong uncertainties. The findings also offer practical implications for entrepreneurs facing multiple uncertainties, and for policymakers seeking to support and promote entrepreneurship in emerging markets.