The purpose of this study is to examine the effect of entrepreneurial capability on entrepreneurial success. Nine thousand, four hundred and fifty (9,450) small and medium enterprises (SMEs) who are registered members of National Association of Small and Medium Enterprises (NASME), National Association of Small Scale Industrialists (NASSI) and Association of Small Business Owners in Nigeria (ASBON) in Lagos State is the sample population for the study. Proportionate stratified random sampling technique is used to select sample size of 381 determined using the formula developed by the National Education Association (1960) for sample size determination. Research instrument is questionnaire. Primary data on the dependent variable (Entrepreneurial success) and independent variable (Entrepreneurial capability) are collected using questionnaire this research instrument. Entrepreneurial capability measures are entrepreneurial orientation and entrepreneurial self efficacy while measures for entrepreneurial success are profitability, market share, net asset growth, sales growth and government policies reflecting both financial and non financial measures. Fifty selected SMEs are used in a pilot study to pretest the research instrument. Analysis of data from the pilot study gives Cronbach’s Alpha values of 0.664, 0.795 and 0.85 for entrepreneurial orientation, entrepreneurial self efficacy and entrepreneurial success respectively. The result of the regression analysis indicated that entrepreneurial capability has a strong positive relationship with entrepreneurial success (R = .475). The coefficient of determination R2 is .226, suggests that 22.6% of the variation (or changes) in entrepreneurial success of selected SMEs in Lagos State is explained by entrepreneurial capability. The value of F (1, 208) = 60.605, p <.05, demonstrates that entrepreneurial capability statistically and significantly predicts entrepreneurial success. This is a clear indication that entrepreneurial capability significantly influences entrepreneurial success in Lagos State. The coefficient of entrepreneurial capability is statistically significant (t = 7.785, p <.05). The regression model explaining the results is given by: ENT_SU = -5.065 + 0.624ENT_CAP. Based on the findings, the null hypothesis (H04) which states that entrepreneurial capability has no significant effect on entrepreneurial success is rejected.
This study aims to examine the effect of environmental uncertainty on entrepreneurial success amongst 9,450 small and medium enterprises (SMEs) who are registered members of the National Association of Small and Medium Enterprises (NASME), National Association of Small Scale Industrialists (NASSI) and Association of Small Business Owners in Nigeria (ASBON) in Lagos State. Proportionate stratified random sampling method was used to select samples from the sampling frame. Sample size of 381 used for the study was determined using the formula developed by the National Education Association (1960). Primary data on the dependent variable (Entrepreneurial success) and independent variable (Environmental uncertainty) was collected using questionnaire as research instrument. Environmental uncertainty measures are dynamism, complexity and hostility while measures for entrepreneurial success are profitability, market share, net asset growth, sales growth and government policies. The questionnaire was pretested by a pilot study of 50 selected SMEs. Data obtained from the pilot study was analyzed and based on the result, the questionnaire was slightly modified giving an overall Cronbach’s Alpha value of 0.791. The statistics of the model summary reveal correlation co-efficient R = .519 indicating that the combined influence of the three predictor variables of dynamism, complexity and hostility has a strong positive relationship with entrepreneurial success. The R square is .269 or 26.9% signifying that the combined influence of the predictor variables explains 26.9% of the variations in entrepreneurial success. The value of F (3,206) = 25.321, p <.05, shows that the combined effect of dynamism, complexity and hostility was statistically significant in explaining changes in entrepreneurial success in Lagos State. This is confirmed by a p value which is less than the acceptance critical value of 0.05. The model shows that the regression coefficients results for both dynamism (β = .155, t = 2.390, p = .018) and complexity (β = .464, t = 7.392, p = .000) indicate positive and significant relationship with entrepreneurial success in Lagos State. The finding indicates that a unit increase in both dynamism and complexity of environmental uncertainty would lead to increase in entrepreneurial success in Lagos State. The regression coefficients for hostility (β = -.155, t = -2.484, p = .014) indicate a negative relationship with entrepreneurial success, though the relationship was significant, p <.05. Complexity measure has the highest influence on entrepreneurial success with a p value was 0.000 followed by hostility with a p value 0.014, and then dynamism with a p value of 0.018.
Impact of financial, social and human capital on entrepreneurial success (Published)
This paper analyzes the impact of financial, social and human capital on entrepreneurial success by examining initial investment in business, access to finance, network ties, trust in network, shared vision, education and experience as the predictors. The necessary data were collected using structured questionnaire on a sample of 118 Nepalese renewable energy enterprises having 264 respondents and analyzed through correlation and multiple regression analysis using IBM SPSS statistics 20. The study shows that the strong role played by access to finance, network ties, trust in network, education and experience while a weak role played by initial investment in business and shared vision in determining entrepreneurial success. This study is considered to be useful for biogas companies, solar companies and micro-hydro construction companies to grow their own business by focusing on the main factors affecting entrepreneurial success. The study can be further extended by incorporating other sectors of renewable energy such as, improved cooking stove, wind technology, and biomass sectors to get greater insight into the results.
Enhancing Effective Financial Planning Through a Robust Capacity Building Techniques for Entrepreneurial Growth in Nigeria (Published)
The study sets out to examine the extent to which capacity building creates awareness to the entrepreneurs in planning their business finance. It has been established that if the entrepreneurs are educational astute, they will take advantages of windows opening for them to tap. Expost-facto research design was applied in determining the population. The sample was obtained with the application of Taro Yamani principle. Ordinary least square technique was used in analyzing the data. Findings revealed that entrepreneurs are easily able to arrange their business finances when they acquire awareness through various techniques. It was concluded that a robust capacity building technique is sine-qua-non to entrepreneurial success in financial planning. It was recommended that the government and the private sector organizations should incorporate adequate skill training programmes for the benefit of small and medium scale business operators and that they in turn should develop passion to learn and apply the skills acquired to improve the ability in financial planning.