Rural Entrepreneurship: An Insight Into Impeding Factors Influencing Micro-Entrepreneurial Growth

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Sunday Samson Babalola
Albert Tchey Agbenyegah

Keywords

Micro-Entrepreneur, Growth, Rural Entrepreneurship, Operational Challenge

Abstract

The call for the growth of successful entrepreneurial activities across the globe raised the need to determine the influencing factors affecting micro-entrepreneurial growth. Hence, this study adopted a cross-sectional survey design to examine determinants of micro-entrepreneurial growth among micro-entrepreneurs. Two hundred and eighty-two micro-entrepreneurs were sampled through snowball and convenience techniques. The findings showed that stepwise multiple regression analysis identified four models in the prediction of micro-entrepreneurial growth. Specifically, operational challenge (β = -.35, p < .001), lack of support, β = -.17, p < .001), workforce challenge (β = .22, p < .001), and personal factors (β = -.21, p < .01) are significant predictors of micro-entrepreneurial growth. The findings were discussed in line with the literature while recommendations in terms of decision-making applications, and provision of developmental programs in assisting rural entrepreneurship for enhancement of growth were suggested.

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