Benue State University, Makurdi

ENTREPRENEURIAL OPPORTUNITY RECOGNITION IN NIGERIA AS A CONSEQUENCE OF EXPERIENCE, EDUCATION AND ORIGIN OF BUSINESS

Aderibigbe, John Kolawole & Oluwafemi, Oluwasanmi Odunayo
(Department of Psychology, Benue State University, Makurdi, Nigeria +2347062663826, uchoaondoaver@yahoo.com)

Abstract

This study adopted cross-sectional research design and triangulation method of data collection, in examining entrepreneurial opportunity recognition in Nigeria as a consequence of experience, education and origin of business. 279 (66.7%) male, 139 (33.3%) female (MBA) students were sampled. Additional 16 (64%) male and 9 (36%) female entrepreneurs participated. Hypothesis was tested and result indicated that experience, education and origin of business jointly predicted entrepreneurial opportunity recognition F (3, 403) = 7.053; R 2 = 0.139; p <.05). Results further showed that there is a significant independent prediction of entrepreneurial opportunity recognition by entrepreneurial experience, education and origin of business. It was concluded that contextual factors play a significant role in entrepreneurships. Hence, recommendation was given that individuals need to be well educated business wise and acquired some practical training in form of apprenticeship, to afford experience required and be innovative in the chosen business line whether the business was inherited or not.

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