DEPARTMENT OF ENTREPRENEURSHIP

This research work is conducted on the role of bank of industry in the development of small and medium enterprises (SMEs). The aims and objectives of the study is to analyze the various role played by bank of industry in developing small and medium enterprises as well as the activities of government policies, such as provision of infrastructural facilities provision of local finance facilities, funding of industries and institutions like SSICS, CIRD and FIIRO. The researcher uses the questionnaire and interview method to collect the data from the respondents. The analysis and crossed tabulation of data gathered were done using the mean statistical method with the 1-5 Likert rating scale for proper accuracy in arriving at a dependable decision rule. Lastly the researcher concluded that, the bank of industry was able to maintain its customer because they do welcome whatever kind of financial assistance, therefore, the government should also endeavour to appoint the workers to teach the entrepreneur who does not have the advantage of attending seminar or workshops especially the illiterate ones and keep supervising them in right –

Small-scale businesses have become major drivers of socio-economic change in developing societies of the world, but especially so in Nigeria, where they account for over 90% of businesses in the country and employ a significant part of the labor market. This research explored the role of small- scale businesses as contributors to economic development in Edo State, Nigeria. The objectives were to evaluate how small businesses contribute to employment generation, income generation, industrial development, and economic growth in Edo State. A descriptive survey research design was adopted, and data from 347 respondents made up of owners and managers of small-scale businesses across the three senatorial districts of Edo State were collected. Questionnaires' structured format was used to collect data, while descriptive statistics, frequency counts, percentages, and mean scores were employed as tools of data analysis.

The findings of the research confirmed a significant contribution of small-scale businesses to employment generation jobs, which were for skilled and unskilled laborers; thus, a reduction was achieved in the number of unemployed people in the state. The research also revealed that small businesses have significantly enhanced income generation leading to improved standards of living and promoted industrial dependent linkages through adding value and the use of local raw materials, but challenges such as inadequate access to finance, multiple taxation, poor infrastructure, and inconsistent government policies have negatively contributed to optimal performance. In addition, the research showed that government support such as training programs, access to loans, and tax incentives has a positive but limited impact on business sustainability

This study examines the influence of gender culture and entrepreneurship development in Nigeria with the objective of ascertaining the influence of gender culture on entrepreneurship development, the differences between male and female enetrepreneurship development, the extent to which gender equality enhances sustainable development in Nigerian entrepreneurship, Examine the effects of gender bias and culture on the growth of women entrepreneurs in Nigeria. Four research questions were raised to guide the study. This study population was drawn from the Ovia North East Local Government Area in Benin City, Edo State, Nigeria. The study involved 100 participants selected through purposive random sampling from various small and medium enterprises. Data were gathered using questionnaires administered to the sampled respondents. The collected data
were analysed using both descriptive and inferential statistics, including frequency tables and percentages. The relationship between one independent variable and the dependent variable was tested using the chi-square statistical technique. The findings highlighted that gender, culture, and entrepreneurship development in Nigeria reflect the complex interplay of social, cultural, and economic factors influencing entrepreneurial opportunities and outcomes, particularly for women. Despite facing significant challenges such as gender disparities, cultural norms, and structural barriers, there are promising prospects for fostering gender-inclusive entrepreneurship in the country. Addressing these challenges and leveraging opportunities requires a comprehensive approach that incorporates policy interventions, social support mechanisms, education and training initiatives, and technology-driven solutions. Gender-sensitive policies that enhance women's access to finance, education, and support networks are crucial for creating a level playing field and promoting women's entrepreneurial success

This study examined the impact of ethical finance on the growth of Small and Medium-sized Enterprises (SMEs) in Edo State, Nigeria focusing on key ethical finance dimensions such as transparency in loan terms, non-interest payment, fair interest rates, and non-discriminatory access to finance. The study adopted a descriptive survey design and collected primary data from 385 SME owners in Benin City, Edo State. Data were analyzed using descriptive statistics and multiple linear regression techniques. The findings revealed that transparency in loan terms, non-interest payment, fair interest rates, and non-discriminatory access to finance each have a significant positive effect on SME growth. The results further indicated that SMEs that engage with financial institutions operating under ethical principles experience
greater access to funding, improved business performance, and sustainable expansion. The study concludes that ethical finance serves as a vital catalyst for inclusive economic development by fostering trust, fairness, and social responsibility in financial practices. It recommends that financial institutions adopt transparent lending policies, ensure fair pricing of credit, and eliminate discriminatory barriers to enhance SME growth and national economic progress.

This study examined the impact of venture capital financing on the performance of Small and Medium Scale Enterprises (SMEs) in Benin City, with emphasis on growth, profitability, and innovation capacity. The study adopted a survey research design and primary data were collected through the administration of structured questionnaires to 205 SME owners and managers who have received or sought venture capital support. A total of 198 valid responses were retrieved and analyzed using descriptive statistics and multiple linear regression. The descriptive results revealed that respondents generally perceive venture capital financing as
a catalyst for business expansion, increased revenue, operational efficiency, and enhanced innovative capability. The inferential analysis further confirmed these perceptions. The regression results showed that venture capital financing has a significant positive effect on SME growth ,profitability, and innovation indicating that venture capital financing explains 67.9% of the variation in SME performance. The findings reveal that venture capital financing significantly contributes to the growth and competitiveness of SMEs by providing not only financial support but also managerial expertise, mentorship, and access to networks. However,
challenges such as limited awareness, inadequate regulatory frameworks, and high investment risks hinder the full realization of venture capital’s potential. In Benin, however, the venture capital market remains underdeveloped due to regulatory bottlenecks, low investor confidence, and limited awareness among entrepreneurs. The study concludes that venture capital financing plays a strategic role in improving SME performance in Benin City by fostering growth, increasing financial outcomes, and encouraging
innovation. It recommends that government and private sector stakeholders enhance access to venture capital through policy support, investment incentives, and awareness programmers, in order to strengthen SME development and economic sustainability and also strengthening Nigeria’s venture capital framework is essential for unlocking the full potential of SMEs in driving sustainable economic growth and competitiveness.

Small-scale enterprises (SSEs) play a crucial role in economic development, job creation, and poverty alleviation. However, they often face significant financial challenges that threaten their survival and growth. This study examines the financial difficulties encountered by SSEs, including limited access to credit, high operational costs, poor financial management, and economic instability. It also explores the survival strategies adopted by these businesses, such as bootstrapping, strategic partnerships, cost-cutting measures, and diversification. Using a combination of qualitative and quantitative methods, the research analyzes data from small business owners to understand their financial constraints and adaptive strategies. The findings highlight the importance of financial literacy, government support, and innovative financing options in enhancing SSE resilience. The study provides valuable insights for entrepreneurs, policymakers, and financial institutions on fostering a more sustainable environment for small- scale businesses.

Feasibility studies play a crucial role in business planning and entrepreneurial success by assessing the viability of business ideas, identifying potential challenges, and optimizing resource allocation. This study examines the impact of feasibility studies on entrepreneurial success in Benin City, with a focus on business startup, cost implications, business environment insights, capital requirements, and challenges hindering entrepreneurs from conducting feasibility studies.The research employs a quantitative approach, utilizing descriptive and inferential statistical techniques to analyze data collected from 120 entrepreneurs in Benin City. hese were collected by the use of well-structured questionnaires which were administered to business owners, managers, and other key stakeholders in selected SMEs. Findings indicate that feasibility studies significantly enhance business success by reducing uncertainties, securing investments, and guiding strategic decision-making. However, the study also reveals that the high cost of conducting feasibility studies poses a major barrier, limiting accessibility for small business owners. Additionally, the research onfirms that feasibility studies provide critical insights into the business environment, including market demand, competition, and risk factors, thereby improving business positioning. The study further establishes a strong relationship between feasibility studies and capital planning, highlighting their role in securing adequate funding and managing financial risks. Lastly, findings suggest that financial constraints and lack of awareness are key challenges preventing entrepreneurs from utilizing feasibility studies effectively. Based on these findings, the study recommends that policymakers and financial institutions implement measures such as subsidized feasibility study programs, financial assistance schemes, and awareness campaigns to promote the doption of feasibility studies among entrepreneurs. The study contributes to the growing body of knowledge on business feasibility analysis and provides practical insights for aspiring entrepreneurs and business development agencies in Benin City.

This study investigates the impact of Artificial Intelligence (AI) on entrepreneurship education among students of the University of Benin, Benin City, Nigeria. It focuses on how selected AI tools ChatGPT, Grammarly, Quillbot, and Meta AI affect students’ learning experiences, creativity, and innovative capacities within entrepreneurship courses. A cross sectional survey research design was adopted, and data were collected from one hundred (100) undergraduate students in the Department of ntrepreneurship through a structured questionnaire. Descriptive and inferential statistical techniques, including correlation and regression analyses, were employed to test the study’s hypotheses at a 5% level of significance. Findings revealed that AI tools significantly enhance entrepreneurship education by improving students’ understanding of business concepts, fostering innovative thinking, and strengthening communication and writing skills. However, challenges such as poor digital infrastructure, high data costs, limited awareness, and inadequate institutional support were identified as major barriers to effective AI integration. The study concludes that while AI technologies hold transformative potential for entrepreneurship education, their effective utilization requires strategic curriculum integration, digital capacity building, and infrastructural investment. It recommends that universities incorporate AI literacy into entrepreneurship programs, provide training for educators, and create enabling environments for students to explore AI tools responsibly and productively.

This study examines the impact of artificial intelligence (AI) usage on innovative thinking among university students in Nigeria, with a focus on students of the University of Benin (UNIBEN). Using a cross-sectional research design, data were collected through structured questionnaires administered to students selected via simple random sampling. The instrument
captured students’ frequency and purpose of AI use, as well as perceptions of its influence on creative and innovative thinking. Data were analyzed using descriptive statistics and multiple regression analysis with SPSS. The findings reveal that AI tools are widely and regularly used by students for academic and creative activities, serving as guides for idea generation, problem
solving, and conceptual clarification. Results further indicate that AI usage has a positive and significant influence on innovative thinking, while also raising concerns about overreliance and ethical considerations. Overall, the study concludes that AI plays a supportive role in enhancing students’ innovative capacities when used responsibly, and it recommends the promotion of balanced AI literacy in higher education to sustain creativity and independent thinking

This study examined the effect of entrepreneurial competencies on the success of small and medium enterprises (SMEs) in Benin City, Edo State. Entrepreneurial competencies are widely recognised as essential behavioural and skill-based attributes that enable entrepreneurs to effectively identify opportunities, manage resources, and sustain competitive advantage in dynamic business environments. The specific objectives of the study were to: Examine the effect of opportunity recognition on SME success Assess the influence of risk-taking on SME success Evaluate the effect of innovativeness on SME success Investigate the impact of networking on SME success Determine the effect of managerial competence on SME success. A survey research design was adopted, and structured questionnaires were administered to owners and managers of SMEs in Benin City using a purposive sampling technique. Data were analysed using descriptive statistics, correlation, and multiple regression analysis. The results revealed that opportunity recognition (B = 0.113, p = 0.048), innovativeness (B = 0.253, p = 0.016), and managerial competence (B = 0.372, p = 0.000) had positive and statistically significant effects on SME success, while risk-taking (B = –0.006, p = 0.939) and networking (B = 0.065, p = 0.301) exhibited positive but statistically insignificant effects. The regression model (R² = 0.642, F = 39.040, p = 0.000) indicated that the independent 13 variables collectively explained about 64.2% of the variance in SME success, suggesting a strong overall model fit. The study concludes that entrepreneurial competencies are critical determinants of SME success in Benin City, particularly opportunity recognition, innovativeness, and managerial competence. It recommends that SME operators enhance their entrepreneurial skills through continuous training and strategic learning to improve adaptability, innovation, and long-term competitiveness within the business environment.