Entrepreneurial Culture and Performance of Small and Medium Scale Enterprises in Anambra State, Nigeria

Abstract

This study examines the role of entrepreneurial culture on performance of small and medium enterprises in Anambra State, Nigeria. The study aims to investigate the effect of entrepreneurial mindset, entrepreneurial leadership and entrepreneurial values on financial performance, marketing performance, and environmental performance. Relevant literature were reviewed. The study adopted descriptive survey research design. The survey instrument used for data collection for the study was a structured questionnaire with 5 Likert scale responses. The population of study was 2093 made up of registered small and medium scale enterprises in Anambra State, Nigeria. The statistical formula by Borg and Gall was employed to determine the sample size of 408. The instruments were subjected to face and content validity. The reliability of the questionnaire was established through the test-retest and Cronbach Alpha. Simple percentage analysis was used in the analyzing research question. Hypotheses for the study were analyzed using Linear Regression Analysis (MRA). The study revealed that entrepreneurial mindset has a significant positive effect on financial performance, entrepreneurial leadership styles have a significant positive effect on sales performance of small and medium enterprises, and entrepreneurial value has a significant positive influence on marketing performance of small and medium enterprises. The study therefore concluded that entrepreneurial culture has a significant positive effect on the performance of small and medium enterprises in Anambra State, Nigeria. The study recommended that entrepreneurship education in universities should consider teaching techniques that require students’ to have hands-on enterprise experience as well as to practice entrepreneurial directed approach in improving entrepreneurial mindset. Government should encourage the facilitation of workshops and seminars for SMEs operators in order to help their improved entrepreneurial leadership styles for better organizational performance.