Social support and risk-taking propensity as predictors of entrepreneurial intention among undergraduates in Nigeria

Abstract

Purpose This paper aims to examine the determinants of entrepreneurial intention among students of a university in Nigeria, with particular emphasis on their risk-taking propensity, social support and demographic variables. Design/methodology/approach Data for the study were collected from 350 undergraduates across seven faculties in Obafemi Awolowo University, Nigeria, through a self-reported questionnaire. Descriptive and regression statistical analysis were used to estimate and test the relationship among entrepreneurial intention and social support, risk-taking propensity and demographic variables. Findings The results showed high entrepreneurial intention among the students. The push factors, such as perceived social support from families, risk-taking propensity and previous engagement in business, are key determinants of entrepreneurship intention among the students. The age and father’s occupation also showed a significant relationship with the level of entrepreneurial intention. Practical implications This result suggests that strengthening social support for entrepreneurship among students could enhance their desire to own a business during and after graduation. Improving entrepreneurship ecosystems in the university could further motivate those already practicing entrepreneurship while also stimulating intentions among others. For instance, provision of entrepreneurship infrastructure and incentives such as business incubators, innovation hubs, science parks and competitive business grants could enhance the risk-taking propensity among students and motivate them for venture creation. Originality/value Understanding the influence of social support and risk-taking propensity on entrepreneurial intention among undergraduates is important for policy and practice. The result further reinforces the need to promote entrepreneurship education to create a critical mass of potential entrepreneurs in the university.