ABSTRACT
The study examined the opportunity
and necessity influences on
small and medium scale entrepreneurial engagements in Onitsha anambra states
nigeria.Specifically the study described the socio-economic
characteristics of opportunity and necessity entrepreneurs in the study area,
analyzed the factors influencing entrepreneurial engagement of opportunity
driven and necessity driven entrepreneurship in the study area; ascertained the
effect of opportunity driven and necessity driven entrepreneurial engagement on
the growth of small and medium scale enterprises in the study area, identified
the factors influencing entrepreneurial utilization of opportunity among entrepreneurs of small and medium scale
enterprises in the study area. A multistage random sampling technique was
adopted to select 150 household heads which represent the sample size. The data
collected were analyzed using both descriptive such as percentage, mean and
percentage and inferential statistics such as probit and Ordinary least square
regression.Result shows that majority of the respondents (60.0%) were between
the age 20 – 37 years, also revealed that majority of the respondents 57.3%
were male. Majority of the respondents (42.00%) had a large household size
between 4 – 7 persons. However, the result revealed that majority of the
respondents 94.67 % of the respondent
in the study
area were literate. Probit regression estimate of factors influencing
entrepreneurial engagement of opportunity driven and necessity driven
entrepreneurship showed Pseudo R2 of 87.42% and 69.69% for
opportunity driven and necessity driven entrepreneurship respectively with
statistically significant chi-square at 1% level. In terms of the socioeconomic
characteristics, opportunity and necessity business ownership seem to have
roughly the same determinants (age and gender). A notable exception is
perceived for education, for which the coefficient is negative and significant
for necessity driven entrepreneurship (p value 0.01) but not-significant for
necessity opportunity driven driven entrepreneurship. Regarding an individual’s
personality the coefficient of fear of failure, opportunity recognition,
proactivene and autonomy are the factors influencing entrepreneurial engagement
of opportunity driven and necessity driven entrepreneurship, while a notable
exception is perceived for entrepreneur network, for which the coefficient is
negative and significant for opportunity driven entrepreneurship (p value 0.05)
but not-significant for necessity opportunity driven. Ordinary least square regression model on the effect of
opportunity driven and necessity driven entrepreneurial engagement on the
growth of small and medium scale enterprises revealed the theF-ratiowas
6.317. On the specific, the
result indicates that there is a positive relationship between growth of
small and medium scale enterprises (profit) and opportunity driven entrepreneurial engagement in the area. Furthermore inadequate
working Capital” on the was the major factors influencing the entrepreneurial
engagement of opportunity and necessity entrepreneurs in small and medium scale
enterprises The government
should also provide adequate skills acquisition machines and equipment to
facilitate the empowerment of our teaming youthful population as well as
provide loan/capital to enable them start up businesses having been imparted
with entrepreneurial skills.
OKORIE, A (2023). Opportunity And Necessity Influences On Small And Medium Scale Entrepreneurial Engagements In Onitsha Anambra State, Nigeria. Mouau.afribary.org: Retrieved Dec 24, 2024, from https://repository.mouau.edu.ng/work/view/opportunity-and-necessity-influences-on-small-and-medium-scale-entrepreneurial-engagements-in-onitsha-anambra-state-nigeria-7-2
ANN, OKORIE. "Opportunity And Necessity Influences On Small And Medium Scale Entrepreneurial Engagements In Onitsha Anambra State, Nigeria" Mouau.afribary.org. Mouau.afribary.org, 16 May. 2023, https://repository.mouau.edu.ng/work/view/opportunity-and-necessity-influences-on-small-and-medium-scale-entrepreneurial-engagements-in-onitsha-anambra-state-nigeria-7-2. Accessed 24 Dec. 2024.
ANN, OKORIE. "Opportunity And Necessity Influences On Small And Medium Scale Entrepreneurial Engagements In Onitsha Anambra State, Nigeria". Mouau.afribary.org, Mouau.afribary.org, 16 May. 2023. Web. 24 Dec. 2024. < https://repository.mouau.edu.ng/work/view/opportunity-and-necessity-influences-on-small-and-medium-scale-entrepreneurial-engagements-in-onitsha-anambra-state-nigeria-7-2 >.
ANN, OKORIE. "Opportunity And Necessity Influences On Small And Medium Scale Entrepreneurial Engagements In Onitsha Anambra State, Nigeria" Mouau.afribary.org (2023). Accessed 24 Dec. 2024. https://repository.mouau.edu.ng/work/view/opportunity-and-necessity-influences-on-small-and-medium-scale-entrepreneurial-engagements-in-onitsha-anambra-state-nigeria-7-2