Self-Employed Graduate Entrepreneurs And Management Of Small And Medium Enterprises (SMEs) In Lagos State, Nigeria

Abstract

This paper examines what enables self-employed entrepreneurial graduates to successfully manage their businesses despite that they never had formal education in any management course(s) but thrive within an environment full of unforeseen uncertainties, such as lack of business incentives, unfavorable government policies, inadequate infrastructures in Nigeria, to mention but a few. In adopting Okala’s in-built myths of entrepreneurs, the quantitative approach of research was utilized with a cluster sampling technique to select 427 small and medium scale entrepreneurs in Lagos State, Nigeria. The chi-square method of data analysis used as a method of data analysis indicates that in-born traits, risk-taking and entrepreneurial learning contribute to SME success. Herron and Robinson’s (1993) theory was adapted to explain what makes entrepreneurs succeed. It was recommended that to be successful as managers, every unsuccessful SME manager should look inward and attempt to discover some in-born management characteristics that lie within them to be a successful manager.