CULTURE AS DETERMINANT OF ENTREPRENEURIAL INTENTIONS IN NIGERIA

Abstract

This paper addresses the issue of whether culture is a determinant of entrepreneurial intentions as well as the effects of culture on entrepreneurial intention dimensions such as perceived desirability, feasibility and propensity to act upon opportunities The population of the study constitute of all existing entrepreneurs in South-East geopolitical zone of Nigeria who have been in venture creation for at least three years, which is infinite, because no easy ready statistics to ascertain the figure. The multi-stage stratified random sampling technique was adopted to get a sample size of 600, but 412 was finally used, being those who returned the research instrument. Questionnaire was the research instrument, while factor analysis and simple regression statistical methods were data analysis techniques. We found that culture is a foremost determinant of entrepreneurial intentions. Besides, the study found that culture positively affects the entrepreneurial intention. Given the findings, the study concluded that there is need for government intervention to assist financially and technically, existing entrepreneurs to break the boundary of locality occasioned by cultural inclinations. It is recommended that government should encourage entrepreneurs financially and also create the enabling environment that can enable them thrive since culture is a significant predictor of entrepreneurial intention, particularly to existing entrepreneur. In addition, there is need to organize seminars and workshops on entrepreneurial intentions and development in order for them to understand the factors influencing venture creations as well as gaining superior insight into perceptions of feasibility, desirability and propensity to act upon opportunities.