Entrepreneurship in the informal economy is the new paradigm that entrepreneurship researchers are trying to explore in recent days. As Schneider (2002) explained that the 41% of economic activities in developing countries, 38% in transition countries, and 18% in developed countries are involved with informal entrepreneurship, research in this domain is still in its infancy. The major streams of research in this region are emphasizing on the causation and behavioral impact on the formation and performance of entrepreneurship under the absence or void of the regulatory institutional pillar.