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AUTHOR(S): Dauda Adegoke Adejumo, Ezekiel Alabi
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ABSTRACT Entrepreneurial drives play a crucial role in shaping financial performance, which is essential for the sustainability of micro enterprises. However, limited research has examined this effect in Ijesa Land, Osun State, Nigeria. This study therefore investigated the effect of entrepreneurial drives, involving risk-taking propensity, opportunity recognition, and innovation and creativity, on financial performance, particularly revenue growth rate among micro enterprises in the area. A descriptive survey research design was adopted, with a structured questionnaire administered to 310 micro enterprise owners, drawn from a population of 1,602 registered micro businesses officially with the Osun State Ministry of Commerce, Industry, Cooperatives, and Empowerment. Descriptive statistics, including frequencies and percentages, along with inferential statistics were used to analyse the data. The findings showed that risk-taking propensity (.960) had the most significant effect on revenue growth rate, followed by opportunity recognition (.941) and innovation and creativity (.879), all of which had a strong effect on financial performance. The study emphasised the need for financial literacy programmes, access to advisory services, and innovation-driven financial planning to improve financial decision-making. The study concluded that entrepreneurial drives are crucial to financial strategy formulation. The study recommended policy interventions to support risk management, market intelligence, and business innovation as strategies for ensuring long-term business revenue growth among micro enterprises in Ijesa Land of Osun State, Nigeria. |
KEYWORDS Entrepreneurial drives, innovation, opportunity recognition, risk-taking propensity |
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Cite this paper Dauda Adegoke Adejumo, Ezekiel Alabi. (2026) Effect of Entrepreneurial Drives on the Financial Performance of Micro Enterprises in Ijesa Land, Osun State, Nigeria. International Journal of Economics and Management Systems, 11, 63-72 |
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