Entrepreneurial Orientation and Survival of Small and Medium Scale Enterprises in Lagos State, Nigeria

Abstract

 Small and Medium Scale Enterprises (SMEs) are known for their contribution to economic development but evidence abound in the literature to show that their life span is relatively low. The reason for this seems to be linked to the poor engagement of entrepreneurial skills and competencies by owners/managers of SMEs. Hence, this study is aimed at investigating the contribution of Entrepreneurial Orientation (EO) to the survival of SMEs in Lagos State. In conformity with the cross-sectional survey technique, sample respondents of 400 were selected among SMEs across Lagos State. Primary data for the study were gathered through structured questionnaires and data were analysed with both descriptive and inferential statistical tools. Results indicate that the explanatory variable, EO significantly influence the survival of SMEs in Lagos State. Specifically, it was found that risk-taking, proactivity and innovativeness have significant and positive relationship with survival of SMEs while competitive aggressiveness and autonomy did not significantly contributes to survival of SMEs. Based on the findings, it was recommended that SMEs in Lagos State should intensify their involvement in the practice of the various dimensions of EO with focus on risk-taking, proactivity and innovativeness.