Corporate Entrepreneurship and Performance of Small and Medium Scale Enterprises in Selected States of South-West Nigeria

Abstract

The study looked at how corporate entrepreneurship (CE) factors affected the performance of small and medium-sized businesses (SMEs) in a selected Southwest Nigerian states. In particular, the study assessed how each of the following factors affected the performance of SMEs in the chosen states: creativity, risk-taking, proactivity, autonomy, and human capital. Forthe study, 268 SMEs from the food and beverage, water packaging, and lodging and food services sectors were sampled. A systematic questionnaire was used to gather primary data. Data on the individual and combined effects of CE characteristics (innovativeness, proactiveness, risk-taking, autonomy, and human capital) on the performance of SMEs in the research area were analysed using multiple regression analysis. The results demonstrated a robust and statistically significant correlation between organizations' performance and innovativeness. All of the corporate entrepreneurship dimensions innovativeness, risk-taking, proactivity, autonomy, and human capital were found to be statistically significant and positively correlated with SMEs' success. In order to improve their performance, sustainability, and competitiveness, small and medium-sized business owners were advised to pay sufficient attention to corporate entrepreneurship activities. To guarantee large market shares, entrepreneurs need also develop novel goods and services.