Correlate of business incubators and small medium and micro-enterprises development (SMMEs) in Nigeria
DOI:
https://doi.org/10.26661/2522-1566/2024-3/29-14Keywords:
business incubators, small medium and micro-enterprises (SMMEs), entrepreneurs view, demographics of entrepreneursAbstract
This research explored the effect of business incubators on Small, Medium and Micro-enterprises (SMMEs). The objectives of the study were to assess the significant relationship between business incubators and Small, Medium and Micro-enterprises (SMMEs) and also to determine the significant relationship betweenentrepreneurs’views and business incubation.60 incubatees was the population of the study which comprised of Ogun and Lagos State National Board of Technological Beneficiaries (NBTI). The research instrument was questionnaire. The ex-post facto method and Yamane formula was employed. Analysis of variance (ANOVA) and correlation efficient was adopted. The responds gotten from the questionnaire was be sorted, coded and the statistical Packages for Social Sciences (SPSS) version 20.0 was employed. The empirical findings revealed that there is a significant relationship between business incubators and Small, Medium and Micro-enterprises (SMMEs) development. The findings of hypothesis two show that there is a significant relationship between Business Incubation Program and Entrepreneurs view. The study found out that fear of failure of business has reduced as a result of business incubation which has benefited startup ventures. It has been reveled in this study that business incubation increases the numbers of startup ventures. The study recommends that Entrepreneurs must make sure they participate in incubation programs to enhance their knowledge acquisition and skills through training and development which will reduces business failure.
JEL Classification: М13, М20, М21
References
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Al-Mubaraki, H. and Busler, M., (2010). Business incubators models of the USA and UK: A SWOTanalysis. World Journal of Entrepreneurship, Management and Sustainable Development, 6(4),pp.335-354.
Arogundade, B.B (2011). Entrepreneurship education: an imperative for sustainable development inNigeria. Journal of emerging trends in educational research and policy studies (JETERAPS), 2(1), pp.26-29.
Arokiasamy, A. R. (2012). The influence of globalization in promoting entrepreneurship in Malaysia.South East European Journal of Economics and Business, 7(2), pp.149-157.
Abraham, J., & Knight, D. (2020). Strategic innovation: Leveraging creative action for more profitable growth. Strategy and Leadership, 29, (1); 21 – 26.
Amabile, T. M., Conti, R., Coon, H., Lazenby, J., Herron, M. (2020).Assessing the work environment for creativity. The Academy of Management Journal, 39, (5); 1154 – 1184.
Barringer, B. R. & Ireland, R. D. (2018). Entrepreneurship: Successfully launching new ventures. New Jersey: Pearson Prentice Hall.
Bosma, N., & Harding, R. (2017). Global entrepreneurship monitor: GEM 2006 results. MA, USA: Babson College and UK: London Business School.
Bakar, R., Islam, M.A. and Lee, J. (2015). Entrepreneurship Education: Experiences in Selected Countries. International Education Studies, 8(1), p.88.
Bøllingtoft, A. (2012). The bottom-up business incubator: Leverage to networking and cooperationpractices in a self-generated, entrepreneurial-enabled environment. Technovation, 32(5), pp.304- 315.
Booth-Jones, L., (2012). Assessing small business training programme effectiveness in an incubator setting and beyond. Masters dissertation..Nelson Mandela Metropolitan University.1(1), pp.14- 29.
Dawson, C. and Henley, A., 2012. “Push” versus “pull” entrepreneurship: an ambiguous distinction. International Journal of Entrepreneurial Behavior & Research, 18(6), pp.697-719.
Elmansori, E. (2014). Fostering innovation and entrepreneurship in Small and Medium Enterprises SMEs) through business incubators in the Arab world.Doctoral dissertation.Nottingham Trent University. http://etd.uwc.ac.za/ 11
Emeh, I.E.J. (2012). Tackling Youth Unemployment in Nigeria; The Lagos State Development and Empowerment Programmes Initiatives. Afro Asian Journal of Social Sciences, 3(3.4).
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Emeh, I.E.J., 2012. Tackling Youth Unemployment in Nigeria; The Lagos State Development and Empowerment Programmes Initiatives. Afro Asian Journal of Social Sciences, 3(3.4).
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Hernández, R. and Carrà, G. (2016). A Conceptual Approach for Business Incubator Interdependence and Sustainable Development. Agriculture and Agricultural Science Procedia, 8, pp.718-724.
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Kowo, S.A, Akinbola O. A & Popoola M. A, (2019) Moderating Influence of Training and Development on Entrepreneurial Performance, Management Strategies, Published by Revistăeditată de Universitatea ,ConstantinBrâncoveanu” Pitești, Romania (Europe) Anul XII, nr. II (44) / 2019
Kowo S A, Oba Adenuga O A, Sabitu, O.L (2019) The role of SMEs development on poverty alleviation in Nigeria. Insights into Regional Development, European Research Council (ERC).2019, 1 (3), pp.214-226.
Kadocsa, Gy. – Francsovics, A. (2016) Macro and Micro Economic Factors of Small Enterprise Competitiveness. ActaPolytechnicaHungarica, 8, (1), 23-40
Kuczarski, T. (2020). What is innovation? The art of welcoming risk. Journal of Consumer Marketing, 13(5), 7 – 11.
Lin, C., Jiang, J., Wu, Y.J. and Chang, C., 2011. Assessment of commercialization strategy using R&D capability.Industrial Management & Data Systems, 111(3), pp.341-369.
Lalkaka, R. (2015). Technology business incubators to help build an innovation-based economy. Journal of Change Management, 3(2):167-176.
Lesákova, L. (2012). The Role of Business Incubators in Supporting the SME Startup.ActaPolytechnicaHungarica, 9(3):85-95.
Lose, T. &Tengeh, R. K. (2015). The Sustainability and Challenges of Business Incubators in the Western Cape Province, South Africa. Sustainability, 7(10), 14344-14357.
Lose, T. (2016). The role of business incubators in facilitating the entrepreneurial skills requirements of small and medium size enterprises in the Cape metropolitan area, South Africa.MTech Thesis, Cape Town. Cape Peninisula University of Technology).
Lose, T., &Tengeh, R. K. (2016). An evaluation of the effectiveness of business incubation programme: a user satisfaction approach. Investment Management and Financial Innovations, 13(2), 370-378
Lose, T., Maziriri, E.T. &Madinga, W. (2016). Assessing the Impact of Incubation Programme to Small and Medium Enterprises Development in the Western Cape Province of South Africa. International Journal of Small Business and Entrepreneurship Research, 4(4): 16-29
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McAdam, M. and McAdam, R. (2008). High tech start-ups in University Science Park incubators: The relationship between the start-up's lifecycle progression and use of the incubator's resources. Technovation, 28(5), pp.277-290.
Mitra, J., Abubakar, Y.A. and Sagagi, M., (2011). Knowledge creation and human capital for development: the role of graduate entrepreneurship. Education+ Training, 53(5), pp.462-479.
Morris, M.H., Webb, J.W., Fu, J. and Singhal, S. (2013). A Competency‐Based Perspective on Entrepreneurship Education: Conceptual and Empirical Insights. Journal of Small Business Management, 51(3), pp.352-369.
Mahmood, N., Jianfeng, C., Jamil, F., Karmat, J., Khan, M., &Cai, Y. (2015). Business Incubators: Boon or Boondoggle for SMEs and Economic Development of Pakistan. International Journal of u-and e-Service, Science and Technology, 8(4), 147-158.
Marimuthu, M. &Lakha, P. A. (2015). The importance and effectiveness of assistance programme in a business incubator. Problems and Perspectives in Management, 13(3), 79-86.
Masutha, M. &Rogerson, C. M. (2014) Small enterprise development in South Africa: The role of business incubators. Bulletin of Geography.Socio-economic Series, 26(26), 141-155.
Mothibi, G. (2014). The Influence of Business Incubation Services on the Performance of Small Medium Enterprises in the South African Tourism Industry.In European Conference onManagement, Leadership & Governance (p. 569). Academic Conferences International Limited.
Muyengwa, G., Dube, P., Battle, K. &Masinga, E. (2014). An Enterprise Development Initiative: Incubation in the South African Motor Body Repair Sector. In Balkan Region Conference onEngineering and Business Education 1(1), 41-46.
Ndabeni, L. L. (2015). The contribution of business incubators and technology stations to small enterprise development in South Africa. Development Southern Africa, 25(3), 259-268.
Ntlamelle, T. (2015). The efficacy of SMME incubation as a strategy for enterprise development in South Africa.Master’s Thesis. Johannesburg. University of the Witwatersrand.
National Bureau of Statistics, (2014).Measuring Better: Presentation of Preliminary Results of the Rebased Nominal Gross Domestic Product (GDP) Estimates for Nigeria 2010 to 2013. Abuja: National Bureau of Statistics. [online] Available at: <http://www.nigerianstat.gov.ng>
Naudé, W. (2011). Entrepreneurship and Economic Development: An Introduction. In Entrepreneurship and Economic Development pp. 3-17. United Kingdom: Palgrave Macmillan.
Nwabueze, A.U. and Ozioko, R.E. (2011).Information and communication technology for sustainable development in Nigeria.Library Philosophy and Practice, (1), p.92.
Nwekeaku, C. (2013). Entrepreneurship education and challenges to Nigerian universities. Journal of Education and Practice, 4(3), pp.51-56.
Okafor, C., Ola-David, O., Oluwatobi, S., Oludayo, O.O., Akinbode, M. and Achugamonu, B., 2015, Entrepreneurship Education and Poverty Alleviation: Impact Analysis of Covenant University Graduates between 2006-2013, [online] Available at: <http://eprints.covenantuniversity.edu.ng/5343/1/Paper%2085.pdf> [Accessed 06 August 2024].
Oshewolo, S., 2010. Galloping poverty in Nigeria: an appraisal of government interventionist policies. Journal of Sustainable Development in Africa, 12(6), pp.264-274.
Oviawe, M.J.I., 2010. Repositioning Nigerian youths for economic empowerment through entrepreneurship education. European Journal of Educational Studies, 2(2).
Salami, C.G.E., 2011.Entrepreneurial interventionism and challenges of youth unemployment in Nigeria.Global Journal of Management and Business Research, 11(7).
Sithole, N. &Rugimbana, R. O. (2014). Commercialisation of research and technology: A multiple case study of university technology business incubators. African Journal of Business Management, 8(16), 641.
Tengeh, R. K. &Choto, P. (2015). The relevance and challenges of business incubators that support survivalist entrepreneurs. Investment Management and Financial Innovations, 12(2), 150-161.
Adejimola, A.S. and Olufunmilayo, T.O., 2009. Spinning off an entrepreneurship culture among Nigerian University Students: Prospects and challenges. African Journal of Business Management, 3(3), p.80.
Albort-Morant, G. and Ribeiro-Soriano, D., 2016.A bibliometric analysis of international impact of business incubators.Journal of Business Research.69(5), pp.1775-1779. http://etd.uwc.ac.za/ 108
Agboola, B. M. (2010). Entrepreneurial Education in Nigeria Tertiary Institutions and SustainableDevelopment. [online] Available at: < http://files.eric.ed.gov/fulltext/ED512732.pdf> [Accessed 11 March 2024].
Al-Mubaraki, H. and Busler, M., (2010). Business incubators models of the USA and UK: A SWOTanalysis. World Journal of Entrepreneurship, Management and Sustainable Development, 6(4),pp.335-354.
Arogundade, B.B (2011). Entrepreneurship education: an imperative for sustainable development inNigeria. Journal of emerging trends in educational research and policy studies (JETERAPS), 2(1), pp.26-29.
Arokiasamy, A. R. (2012). The influence of globalization in promoting entrepreneurship in Malaysia.South East European Journal of Economics and Business, 7(2), pp.149-157.
Abraham, J., & Knight, D. (2020). Strategic innovation: Leveraging creative action for more profitable growth. Strategy and Leadership, 29, (1); 21 – 26.
Amabile, T. M., Conti, R., Coon, H., Lazenby, J., Herron, M. (2020).Assessing the work environment for creativity. The Academy of Management Journal, 39, (5); 1154 – 1184.
Barringer, B. R. & Ireland, R. D. (2018). Entrepreneurship: Successfully launching new ventures. New Jersey: Pearson Prentice Hall.
Bosma, N., & Harding, R. (2017). Global entrepreneurship monitor: GEM 2006 results. MA, USA: Babson College and UK: London Business School.
Bakar, R., Islam, M.A. and Lee, J. (2015). Entrepreneurship Education: Experiences in Selected Countries. International Education Studies, 8(1), p.88.
Bøllingtoft, A. (2012). The bottom-up business incubator: Leverage to networking and cooperationpractices in a self-generated, entrepreneurial-enabled environment. Technovation, 32(5), pp.304- 315.
Booth-Jones, L., (2012). Assessing small business training programme effectiveness in an incubator setting and beyond. Masters dissertation..Nelson Mandela Metropolitan University.1(1), pp.14- 29.
Dawson, C. and Henley, A., 2012. “Push” versus “pull” entrepreneurship: an ambiguous distinction. International Journal of Entrepreneurial Behavior & Research, 18(6), pp.697-719.
Elmansori, E. (2014). Fostering innovation and entrepreneurship in Small and Medium Enterprises SMEs) through business incubators in the Arab world.Doctoral dissertation.Nottingham Trent University. http://etd.uwc.ac.za/ 11
Emeh, I.E.J. (2012). Tackling Youth Unemployment in Nigeria; The Lagos State Development and Empowerment Programmes Initiatives. Afro Asian Journal of Social Sciences, 3(3.4).
Eze, J.F. &Nwali, A.C. (2012). Capacity building for entrepreneurship education: The challenge for the developing nations. American Journal of Business Education (AJBE).5(4), pp. 401-408.
Emeh, I.E.J., 2012. Tackling Youth Unemployment in Nigeria; The Lagos State Development and Empowerment Programmes Initiatives. Afro Asian Journal of Social Sciences, 3(3.4).
European Commission, 2002. Final Report: Benchmarking of business incubators. [online] Available at: <http://www.cses.co.uk/upl/File/Benchmarking-Business-Incubators-main-report-Part-1.pdf> [Accessed 06 March 2024].
Garrett, J. (2008). Martha Nussbaum on capabilities and human rights. [online] Available at:
www.wku.edu/~jan.garrett/ethics/nussbaum.htm [Accessed 28 January 2024].
Global Entrepreneurship Monitor (2012).Country Profile: Nigeria. [online] Available at: <http://www.gemconsortium.org/country-profile/93> [Accessed 28 January 2024].
Hernández, R. and Carrà, G. (2016). A Conceptual Approach for Business Incubator Interdependence and Sustainable Development. Agriculture and Agricultural Science Procedia, 8, pp.718-724.
Herrington, M., Simrie, M., Kew, J. and Turton, N. (2011).Global Entrepreneurship Monitor South Africa. [online] Available: http://www.gsb.uct.ac.za/files/GEM2011Report.pdf.[Accessed 1May 2024].
Jamieson, S., 2014.Likert scales: how to (ab)use them. [online] Available at: < http://onlinelibrary.wiley.com/doi/10.1111/j.1365-2929.2004.02012.x/abstract> [Accessed 25 May 2024].
Kowo, S.A, Oba AdenugaO A, Akinbola O.A &Salau A A (2021) The Influence of Entrepreneurship Education on Entrepreneurial Intention. Jounal of Entrepreneurship and Innovation (JEI), Published by Faculty of Business and Management, University of Ruse Bulgaria-Europe issue 12, pp. 3-14.
Kowo, S.A, Akinbola O. A & Popoola M. A, (2019) Moderating Influence of Training and Development on Entrepreneurial Performance, Management Strategies, Published by Revistăeditată de Universitatea ,ConstantinBrâncoveanu” Pitești, Romania (Europe) Anul XII, nr. II (44) / 2019
Kowo S A, Oba Adenuga O A, Sabitu, O.L (2019) The role of SMEs development on poverty alleviation in Nigeria. Insights into Regional Development, European Research Council (ERC).2019, 1 (3), pp.214-226.
Kadocsa, Gy. – Francsovics, A. (2016) Macro and Micro Economic Factors of Small Enterprise Competitiveness. ActaPolytechnicaHungarica, 8, (1), 23-40
Kuczarski, T. (2020). What is innovation? The art of welcoming risk. Journal of Consumer Marketing, 13(5), 7 – 11.
Lin, C., Jiang, J., Wu, Y.J. and Chang, C., 2011. Assessment of commercialization strategy using R&D capability.Industrial Management & Data Systems, 111(3), pp.341-369.
Lalkaka, R. (2015). Technology business incubators to help build an innovation-based economy. Journal of Change Management, 3(2):167-176.
Lesákova, L. (2012). The Role of Business Incubators in Supporting the SME Startup.ActaPolytechnicaHungarica, 9(3):85-95.
Lose, T. &Tengeh, R. K. (2015). The Sustainability and Challenges of Business Incubators in the Western Cape Province, South Africa. Sustainability, 7(10), 14344-14357.
Lose, T. (2016). The role of business incubators in facilitating the entrepreneurial skills requirements of small and medium size enterprises in the Cape metropolitan area, South Africa.MTech Thesis, Cape Town. Cape Peninisula University of Technology).
Lose, T., &Tengeh, R. K. (2016). An evaluation of the effectiveness of business incubation programme: a user satisfaction approach. Investment Management and Financial Innovations, 13(2), 370-378
Lose, T., Maziriri, E.T. &Madinga, W. (2016). Assessing the Impact of Incubation Programme to Small and Medium Enterprises Development in the Western Cape Province of South Africa. International Journal of Small Business and Entrepreneurship Research, 4(4): 16-29
Matuluko, M., 2015.Nigeria’s Communications Minister to release new ICT Blueprint in January. [online] Available at: <https://techpoint.ng/2015/12/28/nigerias-communications-minister-to-release-new-ict-blueprint-in-january/> [Accessed 11 April 2024].
McAdam, M. and McAdam, R. (2008). High tech start-ups in University Science Park incubators: The relationship between the start-up's lifecycle progression and use of the incubator's resources. Technovation, 28(5), pp.277-290.
Mitra, J., Abubakar, Y.A. and Sagagi, M., (2011). Knowledge creation and human capital for development: the role of graduate entrepreneurship. Education+ Training, 53(5), pp.462-479.
Morris, M.H., Webb, J.W., Fu, J. and Singhal, S. (2013). A Competency‐Based Perspective on Entrepreneurship Education: Conceptual and Empirical Insights. Journal of Small Business Management, 51(3), pp.352-369.
Mahmood, N., Jianfeng, C., Jamil, F., Karmat, J., Khan, M., &Cai, Y. (2015). Business Incubators: Boon or Boondoggle for SMEs and Economic Development of Pakistan. International Journal of u-and e-Service, Science and Technology, 8(4), 147-158.
Marimuthu, M. &Lakha, P. A. (2015). The importance and effectiveness of assistance programme in a business incubator. Problems and Perspectives in Management, 13(3), 79-86.
Masutha, M. &Rogerson, C. M. (2014) Small enterprise development in South Africa: The role of business incubators. Bulletin of Geography.Socio-economic Series, 26(26), 141-155.
Mothibi, G. (2014). The Influence of Business Incubation Services on the Performance of Small Medium Enterprises in the South African Tourism Industry.In European Conference onManagement, Leadership & Governance (p. 569). Academic Conferences International Limited.
Muyengwa, G., Dube, P., Battle, K. &Masinga, E. (2014). An Enterprise Development Initiative: Incubation in the South African Motor Body Repair Sector. In Balkan Region Conference onEngineering and Business Education 1(1), 41-46.
Ndabeni, L. L. (2015). The contribution of business incubators and technology stations to small enterprise development in South Africa. Development Southern Africa, 25(3), 259-268.
Ntlamelle, T. (2015). The efficacy of SMME incubation as a strategy for enterprise development in South Africa.Master’s Thesis. Johannesburg. University of the Witwatersrand.
National Bureau of Statistics, (2014).Measuring Better: Presentation of Preliminary Results of the Rebased Nominal Gross Domestic Product (GDP) Estimates for Nigeria 2010 to 2013. Abuja: National Bureau of Statistics. [online] Available at: <http://www.nigerianstat.gov.ng>
Naudé, W. (2011). Entrepreneurship and Economic Development: An Introduction. In Entrepreneurship and Economic Development pp. 3-17. United Kingdom: Palgrave Macmillan.
Nwabueze, A.U. and Ozioko, R.E. (2011).Information and communication technology for sustainable development in Nigeria.Library Philosophy and Practice, (1), p.92.
Nwekeaku, C. (2013). Entrepreneurship education and challenges to Nigerian universities. Journal of Education and Practice, 4(3), pp.51-56.
Okafor, C., Ola-David, O., Oluwatobi, S., Oludayo, O.O., Akinbode, M. and Achugamonu, B., 2015, Entrepreneurship Education and Poverty Alleviation: Impact Analysis of Covenant University Graduates between 2006-2013, [online] Available at: <http://eprints.covenantuniversity.edu.ng/5343/1/Paper%2085.pdf> [Accessed 06 August 2024].
Oshewolo, S., 2010. Galloping poverty in Nigeria: an appraisal of government interventionist policies. Journal of Sustainable Development in Africa, 12(6), pp.264-274.
Oviawe, M.J.I., 2010. Repositioning Nigerian youths for economic empowerment through entrepreneurship education. European Journal of Educational Studies, 2(2).
Salami, C.G.E., 2011.Entrepreneurial interventionism and challenges of youth unemployment in Nigeria.Global Journal of Management and Business Research, 11(7).
Sithole, N. &Rugimbana, R. O. (2014). Commercialisation of research and technology: A multiple case study of university technology business incubators. African Journal of Business Management, 8(16), 641.
Tengeh, R. K. &Choto, P. (2015). The relevance and challenges of business incubators that support survivalist entrepreneurs. Investment Management and Financial Innovations, 12(2), 150-161.
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Published
2024-10-20
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Entrepreneurship, Trade and Exchange Activities
How to Cite
Popoola, M.A., Ojo, A.O. and Akintunde, M.O. (2024) “Correlate of business incubators and small medium and micro-enterprises development (SMMEs) in Nigeria”, Management and Entrepreneurship: Trends of Development, 3(29), pp. 164–175. doi:10.26661/2522-1566/2024-3/29-14.
