ENTREPRENEURIAL RESILIENCE AND BUSINESS GROWTH OF SMALL AND MEDIUM ENTERPRISE IN MAKURDI METROPOLIS

Abstract

This study examined the effect of entrepreneurial resilience on the growth of small and medium enterprises in Makurdi metropolis. Guided by a cross sectional research design, data was obtained from 352 managers of various kinds of small and medium enterprises in Makurdi metropolis using a structured questionnaire. Descriptive statistics with tables and percentages were used to group the reactions of the respondents to the questions that were asked, while multiple linear regressions was used to test the hypotheses formulated for the study. The findings revealed that the extent of entrepreneur resourcefulness, pro-activeness and his situational awareness has a positive and significant effect on the growth of small and medium enterprises. The study therefore demonstrates the predictive ability of entrepreneurial resilience to influence the growth of small and medium enterprises. The insight generated provides definitive empirical evidence that confirms that the growth of small and medium enterprises can be improved through the blue prints of entrepreneurial resourcefulness, pro-activeness and situational awareness. The study recommends that any entrepreneur who is desirous of growth in his/her enterprise should be resourceful, proactive and be aware of the situation surrounding the enterprise.