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. 6 2024
DOI: 10.56201/wjeds.v9.no6.2024.pg95.110

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Green Entrepreneurship and Risk Management in Nigeria

Nwabuatu, Emmanuel Nnajiubah. Ph. D

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Abstract

This qualitative study explores the nexus between green entrepreneurship and effective risk management practices among green entrepreneurs in Nigeria. The research aimed to understand how green entrepreneurs navigate the unique challenges and opportunities presented by environmental sustainability concerns, and the strategies they employ to mitigate various risks inherent in their ventures. The research employed in-depth interviews and focus group discussions to uncover the key factors that enable green entrepreneurs to thrive in the Nigerian context, while addressing the impact of regulatory frameworks, access to resources, and cultural perceptions on their risk management approaches. The findings shows that there is significant relationship between Green Entrepreneurship and Risk management .The study recommends that aspiring and established green entrepreneurs should engage in risk minimizing strategies like diversification, hedging, insurance, risk assessment, contingency planning, asset allocation, regular review of and adjust risk management strategies, stop loss, position sizing, risk reward analysis, option contracts, collar strategy, maintain emergency funds, regulatory compliance to navigate through environmental challenges and risks inherit in their business.

keywords:

Green entrepreneurship, risk management,

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