<p>The aim of this research is to understand the relationship between sustainability and entrepreneurship of small tourism enterprises in an area of high environmental value (tourist environment) which has been threatened in different ways (e.g., COVID-19, tourist pressure, natural phenomena, pollution, etc.), considering the mediating effect of the values of the entrepreneur and the tourist environment. This is a quantitative study, using a multivariate second-order hierarchical component model. Partial least squares structural equation modelling was used for the analysis. The results indicate that sustainability alone is not sufficient for entrepreneurship. However, if sustainability is mediated by the values of the entrepreneur and the tourism environment, it does have a positive impact on entrepreneurship. Furthermore, these variables have a positive effect on entrepreneurship, therefore these values of the entrepreneur are revealed as a driver of a sustainable economic model. This work has significant implications for decision-making regarding the importance of sustainable entrepreneurship in an environmentally threatened coastal area. It is recommended that tourism companies invest in sustainable tourism actions to preserve the local environment because of its positive influence on stakeholders. This research fills a gap in the literature on the relationship between sustainability, entrepreneur values, environment and entrepreneurship. It highlights the importance of context-specific contingencies for sustainability and the impact of entrepreneurship. The study provides a novel framework for understanding the process of social change towards sustainable tourism led by the entrepreneur and his or her values. The study is limited to a very specific area of high ecological value, so we consider that it can be extrapolated to similar areas.</p>