ENTREPRENEURS’PERCEPTION OFNEXUSBETWEEN ENTREPRENEURIAL CHARACTERISTICSANDSUSTAINABLE GROWTHOFMICROANDSMALL ENTERPRISES
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Date
2024
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Department of Business and Entrepreneurship Education Kwara State University, Malete
Abstract
The viability of Micro and Small Enterprises is diminished, leading to adverse effects on the
economy. Understanding how entrepreneurial traits relate to sustainable growth in the context of
micro and small-scale businesses is of paramount importance for fostering long-term success and
minimizing negative environmental and societal impacts. The study examined Entrepreneurs’
Perception of Nexus between Entrepreneurial Characteristics and Sustainable Growth of Micro
and Small-Scale Businesses. The study provided answers to two research questions. Two null
hypotheses were tested. The study adopts a descriptive survey research design. The population of
the study comprised entrepreneurs of micro and small enterprises in the Ilorin metropolis. The
sample comprised 106 entrepreneurs selected from the population. The Entrepreneurial
Characteristics and Micro and Small Enterprises Questionnaire (ECMSEQ) designed by the
researcher and duly validated by three experts with a Cronbach Alpha reliability coefficient of
0.91 was used to gather data for the study. The data collected to answer the research questions
were analysed using mean, and standard deviation. The hypotheses were tested using one-way
Analysis of Variance (ANOVA) statistics at a 0.05 level of significance. The study found among
others that entrepreneurial commitment and risk-taking have a high extent of positive influence on
the sustainable growth of micro and small businesses. There was no significant difference in the
mean perception scores of entrepreneurs on the extent to which entrepreneurial risk-taking
influences the sustainable growth of micro and small businesses based on the nature of their
business (F2,103 = 1.064; P>0.05). The study concludes that entrepreneurial commitment and risk
taking have a strong connection with the growth of micro and small businesses. Based on the
findings of the study it was recommended among others that Governments and support agencies
should design programs that encourage and nurture entrepreneurial commitment among aspiring
entrepreneurs. Providing training and mentorship programs that focus on enhancing commitment,
emotional attachment, and self-efficacy can contribute to a more sustainable and thriving small
business ecosystem.
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Citation
Mamman, J.S. (2024): Entrepreneurs’ Perception of Nexus Between Entrepreneurial Characteristics and Sustainable Growth of Micro and Small Enterprises. KWASU Journal of the Business of Education. 4 (1); 114-126