Entrepreneurial Culture and Sustenance of General Service SMES in Nigeria

Abstract

This study examined the influence of entrepreneurial culture on the sustenance of general service SMEs in Nigeria. Specifically, the study assessed the influence of entrepreneurial mindset and entrepreneurial values on SME sustenance. A descriptive survey research design was adopted, targeting a population of 21,187 operators of general service SMEs, from which a sample size of 393 was determined using the Taro Yamane formula. Data were collected through a structured questionnaire designed on a five-point Likert scale and validated through expert review and pilot testing. Hypotheses were tested using Spearman’s Rank Order Correlation at a 5% level of significance. The findings revealed that: entrepreneurial mindset exerts a strong positive and statistically significant influence on SME sustenance (rho = 0.645, p = 0.000); entrepreneurial value exerts a very strong positive and statistically significant influence on SME sustenance (rho = 0.753, p = 0.000). In conclusion, strengthening entrepreneurial culture is vital for enhancing the long-term survival and competitiveness of general service SMEs in Nigeria. The study recommended that owners and managers of general service SMEs in Nigeria should consciously nurture and strengthen their entrepreneurial mindset through continuous self-development, participation in training, and engagement with innovation-driven networks. By doing so, they will be better equipped to think strategically, adapt to changing business conditions, and make proactive decisions that ensure the long-term survival of their enterprises.