Corporate Entrepreneurship and Survival of Selected Micro Enterprises in Nigeria

Abstract

The study examined the effect of corporate entrepreneurship on the survival of selected micro enterprises in Nigeria. Specifically, the study focused on determining the effect of strategic renewal and new business venturing on the survival of micro enterprises. A descriptive survey research design was adopted, with a population of 41,469,947 micro enterprises across Nigeria, from which a sample size of 400 operators was determined using the Taro Yamane formula. Primary data were collected through a structured questionnaire, and the test of hypotheses was carried out using multiple regression analysis. The findings revealed that: strategic renewal has a positive and significant effect on survival of micro enterprises (β = 0.587, p = 0.000); new business venturing has a positive but insignificant effect on survival of micro enterprises (β = 0.086, p = 0.186). In conclusion, micro enterprises must prioritize adaptive and innovative strategies over merely pursuing new ventures, highlighting the differentiated value of strategic renewal in promoting resilience. The study recommended that micro enterprise owners should consistently implement strategic renewal practices by reviewing and updating business strategies, adapting operations to market conditions, and aligning resources to address emerging challenges, as this has a significant effect on their survival.