INDIGENOUS ENTREPRENEURSHIP AND BUSINESS GROWTH OF MICRO ENTERPRISES IN OBIO-AKPOR LOCAL GOVERNMENT AREA OF RIVERS STATE

Abstract

This study examined indigenous entrepreneurship and business growth of micro enterprises in Obio-Akpor Local Government Area of Rivers State. The aim of the study was to determine the relationship between indigenous entrepreneurship (indigenous value creation and indigenous innovation) and business growth (market share growth and profitability growth) of micro enterprises in Obio-Akpor Local Government Area of Rivers State. The study was guided by six (6) research questions and hypotheses. The positivist research philosophy and correlational research design were adopted. The population of this study consisted of all the indigenous micro enterprises in Obio-Akpor Local Government Area of Rivers State. The exact population of indigenous micro enterprises in Obio-Akpor Local Government Area is unknown; hence the sample size for the study was determined using the Cochran’s formula. A sample size of 384 respondents (indigenous micro entrepreneurs) was used for the study. A structured questionnaire was used as the main instrument for collecting data from the respondents. The data collected were analyzed using a combination of descriptive and inferential statistical tools. The hypotheses were tested using Spearman Rank Order Correlation Coefficient (rho) and the SPSS version 27.0. The findings revealed that indigenous value creation has a significant relationship with market share growth of micro enterprises in Obio-Akpor Local Government Area. The study also found a significant relationship between indigenous value creation and profitability growth of micro enterprises in Obio-Akpor Local Government Area. The study equally discovered that a significant relationship between indigenous innovation and market share growth of micro enterprises in Obio-Akpor Local Government Area. The study also found a significant relationship between indigenous innovation and profitability growth of micro enterprises in Obio-Akpor Local Government Area. Based on these findings, it was concluded that indigenous entrepreneurship significantly relate to business growth of micro enterprises in Obio-Akpor Local Government Area of Rivers State. Therefore, it is recommended that micro enterprises in Obio-Akpor Local Government Area should practice indigenous entrepreneurship as it would enhance business growth.