ENTREPRENEURIAL INITIATIVES AND BUSINESS COMPETITIVENES AMONG AGRIBUSINESS CLUSTERS IN KWARA STATE NIGERIA

Abstract

Entrepreneurial initiatives have increasingly become tools for fostering innovation and growth of agribusinesses in a developing economy. The sizes of agribusinesses have often hindered them from realizing economies of scale and compliance with international standards. The study thematically examined the relationship between entrepreneurial initiatives on profit maximization among selected agribusiness clusters in Kwara State. The study conducted a Focus Group Discussion among rice farmers who are members of the rice clusters in Baccita, Lafiagi and Pada, all in Kwara North Senatorial zone to achieve the research objective. The study found that networking initiative, technological adoption and entrepreneurial orientation are essential elements in ensuring agribusiness competitiveness among the clusters. Collaboration with economic actors would enable the business enterprises gain access to resources and market which ensures that profits are maximized. Besides, collaboration also provides access to information, knowledge and capital. The study concluded that technology aids the knowledge into action which contributes to profit maximization and ultimately agribusiness competitiveness. Hence, the analysis revealed that entrepreneurial initiatives have significant positive relationship with agribusiness profit maximization. The study recommended the need for sensitization of investors to see agriculture as businesses that arise out of the willingness to takes risk and collaborate with research institutes to achieve agribusiness competitiveness.