EFFECT OF BUSINESS OWNERS ATTITUDE ON BUSINESS SURVIVAL: A STUDY OF SMALL AND MEDIUM ENTERPRISES IN ILORIN METROPOLIS, KWARA STATE
Isihak, Abdulrasaq , Wahab, Tajudeen Abayomi and Olasunkanmi, Waheed Gbola
Volume 13 Issue 2
Abstract
This study investigates the effect of business owner’s attitude on business survival: a study of small and medium enterprises in Ilorin, metropolis. Businesses around the world exist for purpose which range from provision of goods and services for the sustenance of human race. This makes business to have remained pivotal to the development of any nation’s economy especially in the areas of employment generation source of income to individual and government, among others. However, many of these businesses in different part of the world have failed due to many challenges confronting their operations. One of the reason is no doubt the poor attitude of business owners to business activities and the objectives of the study is to examine assess whether positive or negative risk taking attitude of business owners affect business survival. The result of the analysis have been successfully tested empirically relationship between. The first result revealed that positive risk raking attitude of business owners will lead to business survival while on the contrary the result of the study have shown the extent to which the issues examined, can influence business survival or non-survival. Precisely, all the five proxies of business owner attitude considered in the study has relationship with business chances of survival. The study recommended that: Business owners’ must appreciate the risk taking is inevitable in business however they must take reasonable risk because this is the only way through which their business could stand the test of time, it is also required of business owners to continuously seek ways through which their services and products would be improved. Also, they must continuously review their work process to eliminate wastages. Keywords: Business Owner’s Attitudes, Business Survival, Small and Medium Enterprises, Employment Generation.
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