IIARD International Institute of Academic Research and Development

WORLD JOURNAL OF INNOVATION AND MODERN TECHNOLOGY (WJIMT )

E-ISSN 2504-4766
P-ISSN 2682-5910
VOL. 8 NO. 6 2024
DOI: 10.56201/wjimt.v8.no6.2024.pg27.45

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Building A Resilient Entrepreneurial Ecosystem (The Role of Mentorship and Networking in Rivers State)

Nwabuatu, Emmanuel Nnajiubah. Ph. D

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Abstract

This study investigated the role of mentorship and networking in building a resilient entrepreneurial ecosystem in Rivers State, Nigeria, focusing on their contributions to sustainable business communities. Employing a qualitative research design, primary data were collected from 120 participants through structured questionnaires. Respondents included local entrepreneurs, mentors, and network facilitators, selected using purposive sampling. The questionnaires incorporated both closed and open-ended questions aimed at understanding mentorship's impact on resilience and networking’s role in fostering business sustainability. Data were analyzed using the Statistical Package for Social Sciences (SPSS), employing descriptive statistics to determine the frequency and percentage of responses, with themes such as "Knowledge Transfer," "Resource Access," "Community Support," and "Resilience" identified for further interpretation. The reliability of the data collection tool was confirmed with a high Cronbach's Alpha coefficient of 0.83, indicating strong internal consistency. The results demonstrated that mentorship significantly contributes to entrepreneurial resilience. Nearly all respondents reported receiving mentorship and acknowledged its positive impact on navigating challenges, adaptability, and overall business success. Additionally, the most recommended mentorship is a key strategy for fostering resilience. Networking was also found to be vital, with a majority indicating active participation and recognizing its role in establishing partnerships, facilitating knowledge exchange, and ensuring long-term business sustainability. However, challenges related to resource access were evident, as most participants struggled with securing financial resources, despite relatively better access to material resources. Furthermore, a gap was identified in the availability of support programs aimed at facilitating resource access. Community

keywords:

Entrepreneurial Ecosystem, Mentorship, Networking, Resilience, Business Growth,

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