DETERMINANTS OF ENTREPRENEURSHIP DEVELOPMENT IN NIGERIA: A STUDY OF SELECTED SMES IN EDE NORTH AND SOUTH OF OSUN STATE

Abstract

This study investigates the determinants of entrepreneurship development in Nigeria, focusing on the roles of entrepreneurial education, access to mentoring, access to finance, government support services, start-up costs, and networking opportunities. Utilizing a sample of 120 respondents, data was analyzed using multiple regression and Pearson moment correlation techniques. The regression analysis reveals that access to mentoring (ATM) and access to finance (ATF) significantly contribute to entrepreneurship development, with coefficients of 0.276 and 0.369, respectively. These findings underscore the critical role of financial and mentoring support in fostering entrepreneurial activities. Conversely, entrepreneurial education (ENT-EDU) and government support services (GSS) did not show a significant impact, suggesting that practical, on-the-ground support mechanisms may be more influential than formal educational programs. The Pearson correlation analysis further supports these results, highlighting strong positive correlations between entrepreneurship development and factors such as access to finance, mentoring, and government support services. The study concludes that enhancing financial accessibility, mentoring programs, and government support can significantly bolster entrepreneurship development in Nigeria. Recommendations include increasing financial aid availability, expanding mentorship networks, and improving government policies to support budding entrepreneurs