ENTREPRENEURIAL FEATURES AND FIRM SURVIVAL: A STUDY OF SELECTED SMALL AND MEDIUM ENTERPRISES IN IKENNE-REMO, OGUN STATE, NIGERIA

ENTREPRENEURIAL FEATURES AND FIRM SURVIVAL: A STUDY OF SELECTED SMALL AND MEDIUM ENTERPRISES IN IKENNE-REMO, OGUN STATE, NIGERIA

Author by Dr. Valerie Onyia

Journal/Publisher: Babcock Business And Marketing Review

Volume/Edition: 1

Language: English

Pages: 149 - 160

Abstract

Nigeria's economic situation remains sluggish due to drought of entrepreneurs. Globally entrepreneurs are proven catalysts of economic growth and their person-factors have ripple-effects on firms' survival. Local observations and international literature consulted indicate that entrepreneurial features affect survival of SMEs. This empirical study leveraged on this information to examine effect of entrepreneurial features on survival of SMEs within Ikenne-Remo in Ogun State through primary data collection. The researchers collected data by administering validated and pre-tested semi-structured questionnaire to 90 randomly selected entrepreneurs in Ikenne-Remo, Ogun state, who had first-hand experience in setting up small businesses. Simple regression equations were developed and analyses conducted. It was found that there were higher positive significant associations between innovativeness and firm survival with r = 0.85, R2 =0.715, Adjusted R2= 0.360, p< 0>

 


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