STRATEGIES FOR STIMULATING THE SURVIVAL OF SMALL SCALE BUSINESS ENTREPRENEURS AS PERCEIVED BY BUSINESS EDUCATION LECTURERS IN UNIVERSITIES IN SOUTH-SOUTH NIGERIA

Abstract

The study assessed strategies for stimulating the survival of small scale business entrepreneurs in Nigeria. Three research questions and three hypotheses guided the study. The design of the study was a descriptive survey. The population of the study comprised 133 lecturers in Business Education in Universities in South-South Nigeria. A 74 items questionnaire was the instrument used for data collection. The content and face validity of the instrument was done by experts in Business Education, and Measurement and Evaluation. The data collected were analysed using mean and standard deviation, and t-test was used to test the hypotheses at 0.05 level of significance. The findings are: that learning of
business skills, creation of non-existence saving, check urban-rural drift among others are the contributions of small scale business entrepreneurs to the Nigerian economy.Some of the constraints facing the survival of small scale businesses are sociocultural problems that will make the business not to survive, inadequate operational experience, inadequate experience in the business line among others. The strategies for stimulating the survival of small scale businesses are experience in the business, perception of probability of success in starting the business among others.It was recommended that short and medium term loans should be provided by the government to business education graduates with low interest rate, to enable them set up small scale businesses in Nigeria. The Government should also formulate policy that will encourage the setting up of small scale businesses by business education graduates.

KEYWORDS: Small Scale Business, Entrepreneurs, strategies, Universities, Nigeria, Business Education Lecturers