Factors Influencing Farmers’ Entrepreneurial Behavior in Panchagarh, Bangladesh: An Integration of Semantic Differential Scale

The succession of activities to the exploitation of a new entrepreneurial opportunity is important for income diversification. The objective of this study was to determine the extent of entrepreneurial behaviour of the farmers as well as to determine its influential factors. The dependent variable was measured using one-to-seven-point semantic differential scale. In addition, seven levels of entrepreneurial behaviour were used in the scale. One hundred thirty-three (133) farmers were selected for data collection using a multi-stage random sampling procedure from selected six unions of Sadar upazila in Panchagarh district of Bangladesh. Descriptive statistics like percentages, means, standard deviations, indices, and rank order were employed to summarise the data gathered during the interviews. The inferential statistical investigation involved using correlation analysis, multiple regression analysis, stepwise regression analysis and path analysis using PLS-SEM (Partial Least Square-Structural Equation Model). The findings revealed that a significant proportion (85.7 percent) of the respondents held a repressive to optimistic entrepreneurial behaviour. The key factors influencing farmers’ entrepreneurial behaviour were educational qualification, extension contact, farm size, and age altogether accounting for 89.0% variance in the dependent variable. However, path analysis indicates that farmers’ educational qualification has the highest contribution on their entrepreneurial behaviour followed by farm size, extension media contact, and age. The farm size has substantial indirect effect through educational qualification and extension media contact on entrepreneurial behaviour. Well-designed interventions, particularly through educational activities and extension services are crucial for fostering farmers’ entrepreneurial engagement in agriculture and enhancing their success.