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Entrepreneurial Resilience and Growth of Small and Medium Enterprises in Port Harcourt

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  • Ogbumgbada, Oluchi Vincent

Abstract

This work examined the relationship between entrepreneurial resilience and growth of small and medium enterprises in Port Harcourt. Objectives of the study were to examine how dimensions of entrepreneurial resilience such as proactiveness and resourcefulness enhance measures of growth in terms of sales growth and business expansion. The survey research design was adopted. The target population for this study comprised of 316 owners and employees of some selected SMEs in Port Harcourt, Rivers State. The sample size of 175 respondents was determined by using Krejcie and Morgan sample size determination table. Data were collected through primary (questionnaire) and secondary (textbooks, journal articles and internet). A structured questionnaire designed in four point likert rating scale format was adopted for the collection of data. Out of 175 questionnaires administered, the researcher was able to retrieve 152 copies. Spearman Ranking (r) was used for the test of hypotheses via SPSS Version 23.0. The findings revealed that there is a significant relationship between entrepreneurial resilience (proactiveness and resourcefulness) and growth (sales growth and business expansion) of small and medium enterprises in Port Harcourt. The study concluded that entrepreneurial resilience has a favourable outcome on growth of small and medium enterprises in Port Harcourt as it reveals that entrepreneur’s proactiveness and resourcefulness are veritable resilient components to combat with adversity internal and external the business, as it promotes effective sales growth and business expansion. The study recommended amongst other things that management of small and medium enterprises in Port Harcourt should create new fits between demand and supply towards identifying new opportunities in line with perceived disruption and delving into it to enhance effective operations and sales growth as the turbulence emerge; Creating a good social network is a source to acquire resources in times of difficulty. Thus, entrepreneurs should improve their social network base as they will help during perilous times by directly or indirectly providing resources for entrepreneurs thereby improving their business expansion.

Suggested Citation

  • Ogbumgbada, Oluchi Vincent, 2023. "Entrepreneurial Resilience and Growth of Small and Medium Enterprises in Port Harcourt," OSF Preprints rs5up, Center for Open Science.
    • Handle: RePEc:osf:osfxxx:rs5up
    DOI: 10.31219/osf.io/rs5up
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    References listed on IDEAS

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    1. Quan Hoang Vuong & Thu Hang Do & Thu Trang Vuong, 2016. "Resources, experience, and perseverance in entrepreneurs’ perceived likelihood of success in an emerging economy," Journal of Innovation and Entrepreneurship, Springer, vol. 5(1), pages 1-24, December.
    2. Hayward, Mathew L.A. & Forster, William R. & Sarasvathy, Saras D. & Fredrickson, Barbara L., 2010. "Beyond hubris: How highly confident entrepreneurs rebound to venture again," Journal of Business Venturing, Elsevier, vol. 25(6), pages 569-578, November.
    3. Bullough, Amanda & Renko, Maija, 2013. "Entrepreneurial resilience during challenging times," Business Horizons, Elsevier, vol. 56(3), pages 343-350.
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