Authors :
IYUN Moses Oluremi; OLALEYE Olalekan Olumide; OLAKANMI Olakunle James; ILORI Titilope Josephine.
Volume/Issue :
Volume 8 - 2023, Issue 4 - April
Google Scholar :
https://bit.ly/3TmGbDi
Scribd :
https://bit.ly/3psyfFR
Abstract :
The agitations of both policymakers and
researchers to the growth of small and medium
enterprises in developed and developing countries have
been a major concern. One major issue that has been
inhibiting the ability to assist this important sector to
achieve higher performance is the lack of characteristics
on the part of the entrepreneurs which results in low
product quality, a lack of competitive advantage, and a
decrease in organizational performance. The main
objective of the study was to examine the effect of
entrepreneurial characteristics on the business
performance of registered small and medium-scale
enterprises (SMEs) in Osun State Nigeria. The
methodology used in gathering information was a
questionnaire with a study population of 1,416 and a
sample size of 312 SMEs gotten through the Taro
Yamane sample size determination formula made up of
the respondents from the selected SMEs in Osun State.
The statistical technique used was multiple regression
analysis and the results showed that a statistically strong
and positive relationship exists between product
knowledge and product/service quality (R square = 0.909
p< 0.05), the vision has a significant influence on
customers’ satisfaction (R square = 0.575 p < 0.05) and
that creativity has a strong impact on competitive
advantage (R square = 0.879 p < 0.05). This result is
statistically significant as the p-value of the results
(0.000) is less than the 0.05 level of significance set for
the study. This indicated that product knowledge has a
significant effect on product/service quality, vision
affects customer satisfaction and creativity has a
significant effect on competitive advantage. The study
recommended that small and medium-scale enterprises
should have full knowledge of the products they produce
to increase service/product quality. They should also
have a vision of where they want their company to be in
the future to increase customer satisfaction. And lastly,
they should use their creativity or intellectual knowledge
and skills to earn a living and expand the scope of their
organization to gain a competitive advantage.
Keywords :
Entrepreneurship, Youth, Business, Performance and Small and Medium Enterprise.
The agitations of both policymakers and
researchers to the growth of small and medium
enterprises in developed and developing countries have
been a major concern. One major issue that has been
inhibiting the ability to assist this important sector to
achieve higher performance is the lack of characteristics
on the part of the entrepreneurs which results in low
product quality, a lack of competitive advantage, and a
decrease in organizational performance. The main
objective of the study was to examine the effect of
entrepreneurial characteristics on the business
performance of registered small and medium-scale
enterprises (SMEs) in Osun State Nigeria. The
methodology used in gathering information was a
questionnaire with a study population of 1,416 and a
sample size of 312 SMEs gotten through the Taro
Yamane sample size determination formula made up of
the respondents from the selected SMEs in Osun State.
The statistical technique used was multiple regression
analysis and the results showed that a statistically strong
and positive relationship exists between product
knowledge and product/service quality (R square = 0.909
p< 0.05), the vision has a significant influence on
customers’ satisfaction (R square = 0.575 p < 0.05) and
that creativity has a strong impact on competitive
advantage (R square = 0.879 p < 0.05). This result is
statistically significant as the p-value of the results
(0.000) is less than the 0.05 level of significance set for
the study. This indicated that product knowledge has a
significant effect on product/service quality, vision
affects customer satisfaction and creativity has a
significant effect on competitive advantage. The study
recommended that small and medium-scale enterprises
should have full knowledge of the products they produce
to increase service/product quality. They should also
have a vision of where they want their company to be in
the future to increase customer satisfaction. And lastly,
they should use their creativity or intellectual knowledge
and skills to earn a living and expand the scope of their
organization to gain a competitive advantage.
Keywords :
Entrepreneurship, Youth, Business, Performance and Small and Medium Enterprise.
