Risk Management And Operational Efficiency Among Small Scale Entrepreneurs: Implication For Entrepreneurship And Risk Management Counselling

Abstract

This is a descriptive survey study with interdisciplinary approach that involved a target population comprising small scale entrepreneurs in Abuja Municipality within the Federal Capital Territory, Abuja, Nigeria. A purposive sampling size of one hundred and fifty (150) participants comprising 87 males and 63 females participated in the study. Three research questions and one hypothesis guided the study. A close ended self-constructed instrument–the questionnaire was used for data collection. Data generated was analysed using mean scores and standard deviation to answer research questions whereas analysis of variance (ANOVA) was used to test the hypothesis formulated. Findings revealed that they were catalogues of risks associated with small scale entrepreneurs such as bad debts and rising cost of production among others. Risk management strategies adopted involved cutting down production output and alternative power supply. Years of experience was found to significantly influence risk management strategies. The study recommended counselling intervention to include entrepreneurship counselling in counsellor education programmes to mitigate the scourge of graduate youth unemployment.

Isaiah Iornenge Shamo (PhD). Risk Management And Operational Efficiency Among Small Scale Entrepreneurs: Implication For Entrepreneurship And Risk Management Counselling. Ibadan Journal of Educational Studies, 23(2), 97-103.