Assessing Entrepreneurial Growth Mindset among Small Businesses in Onitsha, Anambra State, Nigeria

Abstract

This study assessed entrepreneurial growth mindset among small business owners in Onitsha, Anambra State, Nigeria. Entrepreneurial growth mindset is conceived as the belief held by entrepreneurs that business competencies, innovative capacity, and entrepreneurial success can be developed through effort, continuous learning, adaptability, and resilience, rather than being fixed traits. The specific objectives of the study were to examine the effect of learning orientation on business adaptability, determine the effect of innovation orientation on business competitiveness, assess the effect of entrepreneurial resilience on business survival, examine the effect of opportunity recognition on business growth, and evaluate the effect of adaptability on business sustainability among small businesses in Onitsha. The study adopted a descriptive survey research design. The population of the study comprised One Thousand, Five Hundred and Twenty (1,520) registered small business owners operating within the major commercial clusters of Onitsha, Anambra State. A sample size of 317 was determined using the Taro Yamane formula, and a structured questionnaire anchored on a five-point Likert scale was administered using a multistage sampling technique combining purposive and simple random sampling. Data were analyzed using simple linear regression with the aid of the Statistical Package for Social Sciences (SPSS) version 23. The findings revealed that learning orientation had a significant positive effect on business adaptability (β = 0.487, p = 0.000); innovation orientation had a significant positive effect on business competitiveness (β = 0.532, p = 0.000); entrepreneurial resilience had a significant positive effect on business survival (β = 0.601, p = 0.000); opportunity recognition had a significant positive effect on business growth (β = 0.478, p = 0.000); and adaptability had a significant positive effect on business sustainability (β = 0.549, p = 0.000). The study concluded that entrepreneurial growth mindset is a critical determinant of small business growth, competitiveness, survival, and sustainability in Onitsha. It was recommended, among others, that government agency, business associations, and financial institutions should institutionalize entrepreneurial mindset development programmes, mentorship schemes, and growth-oriented training for small business operators in Anambra State and Nigeria generally.