Entrepreneurial Creative Thinking and Venture Performance: Reviewing the Influence of Psychomotor Education on the Profitability of Small and Medium Scale Firms in Port Harcourt Metropolis

Abstract

The significance of small and medium enterprises to an economic development of a country cannot be overemphasized. The growth of a business depends on the development of abilities needed to execute a smooth running of day business activities. Research has established the fact that fast economic growth of regions lies on the extent of trade activities in the area. Given this established importance of enterprise, this present study aims at empirically developing the relationship between entrepreneurial creative thinking and venture performance with specific reference to small and medium scale firms in Port Harcourt metropolis. Descriptive survey design was adopted and primary data were used. The data collected were analyzed using mean, aggregate mean, and Spearman rank correlation with the aid of statistical package for social sciences, version 25. Findings shows that there is a significant and positive relationship between psychomotor education (our proxy for creative thinking) and profitability, as indicated by p-value of at 0.05 level of significance. We conclude that entrepreneurial creative thinking is an ingredient that managers of small and medium enterprises deploy to achieve maximum profit. Based on the empirical findings and conclusion, we recommend that there should be a need for policymakers to consider developing small and medium enterprises, not only through the provision of social amenities but also development of public agenda for the acknowledgement of creative thinking, skill development, and prioritization of skills improvement for both expert and non-expert business owners.