ENTREPRENEURIAL RESILIENCE AND BUSINESS SURVIVAL OF FOOD AND BEVERAGE MANUFACTURING SMES IN RIVERS STATE

Abstract

This study examined entrepreneurial resilience and business survival of food and beverage manufacturing SMEs in Rivers State. The aim of the study was to determine the relationship between entrepreneurial resilience (adaptive capability, resourcefulness and optimism) and business survival (market share and profitability) of food and beverage manufacturing SMEs in Rivers State. Six (6) research questions and hypotheses were postulated to address the objectives of the study. The positivist research philosophy and correlational research design were adopted. The population of this study comprised 139 registered food and beverage manufacturing SMEs in Rivers State. The census sampling techniques was utilized in this study. The instrument used for data collection was a structured questionnaire. The data collected were analyzed  using a combination of descriptive and inferential statistical tools. The hypotheses were tested using Pearson Product Moment Correlation Coefficient (r) and the SPSS version 27.0. The findings showed that adaptive capability has significant relationship with market share and profitability of food and beverage manufacturing SMEs in Rivers State. The study also revealed that resourcefulness has a significant relationship with market share and profitability of food and beverage manufacturing SMEs in Rivers State. The study equally discovered that optimism is significantly related to market share and profitability of food and beverage manufacturing SMEs in Rivers State. Based on these findings, it was concluded that entrepreneurial resilience is a significant predictor of business survival of food and beverage manufacturing SMEs in Rivers State. Therefore, it is recommended that entrepreneurs should develop resilient capability as it would ensure their business survival in difficult situations.