1Peter Elaigwu Oteh, 2Taiwo Olabisi Abdullahi (PhD), 3Ibrahim Gadafi Muhammed (PhD), 4Angela Adaeze Oyibe & 5Patrick Ugwuegbu Chigoziri
1,3,4 & 5 Department of Entrepreneurial Studies, National Open University of Nigeria, Abuja, Nigeria
2Department of Cooperative Economics and Management, Nnamdi Azikiwe University, Awka, Anambra State Nigeria
Correspondence Email Address: [email protected]
Abstract
The study investigated the link between entrepreneurial readiness and business mortality among service-based SMEs within Abuja Municipal Area Council (AMAC), Nigeria. Utilizing a quantitative research design, data were collected through a structured five-point Likert scale questionnaire administered to all 248 SMEs registered with the Abuja Chamber of Commerce and Investment (ACCI), covering sectors such as cleaning, courier, event management, food and catering, and beauty and cosmetics. The findings reveal three critical determinants of business mortality: Entrepreneurial Education and Training (EET), Entrepreneurial Self-Efficacy (ESE), and Financial Preparedness (FP). Notably, EET were found to have a statistically significant positive correlation with business mortality, implying that current entrepreneurship training may be overly theoretical, poorly contextualized, or inadvertently instill false confidence ultimately raising failure rates. Conversely, ESE demonstrated a strong and significant negative relationship with business mortality, highlighting that entrepreneurs with higher confidence, innovation, and problem-solving capabilities are more likely to survive turbulent market conditions. Similarly, FP was significantly associated with reduced business mortality, emphasizing the protective role of sound financial planning, literacy, and access to capital. These insights underscore the need for a strategic shift in SME development policy and programming from generic educational support to targeted, contextually grounded, and resilience-oriented interventions. The study recommends reforming entrepreneurship curricula, implementing confidence-building initiatives, and establishing localized financial literacy hubs to better equip SMEs for sustainability in unpredictable economic environments.
Keywords: Business Mortality, Entrepreneurial Education and Training, Entrepreneurial Readiness, Entrepreneurial Self-efficacy