IIARD International Institute of Academic Research and Development

WORLD JOURNAL OF ENTREPRENEURIAL DEVELOPMENT STUDIES (WJEDS )

E-ISSN 2579-0544
P-ISSN 2695-2483
VOL. 9 NO. 3 2024
DOI: 10.56201/wjeds.v9.no3.2024.pg48.59

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Assessing Entrepreneurial Risk-Taking Ability on the Performance of Select Small and Medium Enterprises (SMEs) in Akwa Ibom State, Nigeria

Grace U. Adoga, Anastacia A. Inyang, PhD, Joseph F. Jonah and Ini-Uwem E. Udoh

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Abstract

The major objective of this study was to assess the influence that entrepreneurial risk-taking ability has on the performance of Select Small and Medium Enterprises (SMEs) Akwa Ibom State, Nigeria. Survey research design was adopted for the study. Topman formula for unknown population was employed and a sample size of 384 was determined. Both primary and secondary sources of data were adopted for the study. Convenience sampling technique was adopted while the research instrument was a structure questionnaire. Descriptive and Inferential statistics were used in analyzing the study. Findings revealed that entrepreneurial risk-taking ability had a moderate correlation value of R = 0. 407 with an Unstandardized Coefficient Beta ?=0.383. It was concluded that entrepreneurial risk-taking ability have a positive significant influence on performance of Select Small and Medium Enterprises (SMEs) in Akwa Ibom State. As such, it is recommended that SMEs should be willing to take calculated risks with new business ideas, and in business decision making. Dynamic environments require a greater level of risk taking in strategic decision making.

keywords:

Entrepreneurial Risk-Taking, Performance, Small and Medium Scale Enterprises.

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