Assessment of entrepreneurial commitment and business performance among SMEs in Ikeja Local Government of Lagos State, Nigeria

Abstract

The contests of the business environment seem to be huge and can devastate Small and Medium Enterprises thereby decreasing their capacities of contributing to the gross domestic product and decrease the rate of unemployment. The inability to demonstrate required commitment as expected by many entrepreneurs appear as the major challenges which SMEs are faced with in today’s vibrant business environment. This study, therefore, examines the assessment of entrepreneurial commitment on business performance among small and medium enterprises in Ikeja Local government of Lagos state, Nigeria. The study utilised a cross-sectional research design, while a multi-stage sampling technique was used for the study. 120 copies of the questionnaire were distributed, 114 were returned and found usable. Frequency distribution (percentage analysis) was used to analyse data. The findings revealed that entrepreneurial commitment has positive significant effect on business performance. The study concludes that entrepreneurial commitment has significant effect on business performance. Thus, it was recommended that owners/managers of SMEs should be more committed to their businesses and develop attitude of commitment in order to achieve better performance for their businesses.