Benue State University, Makurdi

LEVERAGING SOCIAL CONTEXT OF ENTREPRENEURSHIP FOR SURVIVAL IN AKURE, NIGERIA

Damilola John Micah
Department of Sociology,
AdekunleAjasin University Akungba-Akoko.

Abstract

The gamut of state and non-state policies covering entrepreneurship centred round exogenous economic factors. Yet an entrepreneur operates in social context which significantly contributes to survival. This study exploredsocial context of entrepreneurship and interplay for survival adaptation. Social context was measured in terms of non-economic construct which shaped traders' survival in entrepreneurship. Sample of 600 traders was selected through multistage sampling techniques from central market in Akure, Nigeria. Survey design and quantitativemethod was applied. Data were quantitatively collected and statistically analysed using 2 parametric inferential statistics. Interpersonal relationship (x 39.25; 2 2 p < 0.05; r0.7); dress code (x 36.3; p < 0.001; r0.8); apprenticeship (x 31.8; p < 0.001; r0.9);and religious beliefs (x 2 24.1; p < 0.05; r0.8) significantly influenced entrepreneurship adaptation. Also, socialmedia (x 2 37.5; p < 0.001; r0.09) was significant to network customer patronage and retention.Traders' disposition to customers and adoption of media mix offered leverage for customer retention, patronage and adaptability. Traders in Akure leveraged entrepreneurialsocial capital to sustain adaptation. On recommendation, social capital of entrepreneurship should be mainstreamed as precursor of adaptation and sustainability.

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