A critical analysis of the Nigerian entrepreneurial ecosystem on transformational entrepreneurship

Abstract

Previous research suggests that the entrepreneurial ecosystems (EEs) support factors are critical for the systemic development of micro, small. and medium enterprises (MSMEs). However, there is limited understanding of how MSME owner's/manager’s characteristics impact their perspectives of the EE support factors for business development. This study addresses this research gap to adopt a coherent approach to understand the EE in supporting MSMEs to achieve transformational entrepreneurship (TE), which builds sustainable businesses for long-term societal benefits. The MSMEs characteristics alongside the EE factors were tested with 576 MSMEs in Nigeria. The MSME owner's/manager’s characteristics were positively correlated to their perspective of EE support factors (access to finance, markets, resources, and policies and regulations), which were inadequate. The findings will assist theory and practice development to understand and focus on the EE discussed in the context of TE in Nigeria, offering potential insights for similar developing economies.

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