Entrepreneurship Standards, Sustainability and Socio-Economic Welfare of Entrepreneurs in North Central Nigeria

Dr. Patricia Onyemowo Abah, Dr. Innocent Okwanya and Oka Ene Abah
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Dr. Patricia Onyemowo Abah: Department of Economics, Federal University of Lafia, Nasarawa State, Nigeria.
Dr. Innocent Okwanya: Department of Economics, Federal University of Lafia, Nasarawa State, Nigeria
Oka Ene Abah: Department of Business Administration, Federal University of Lafia, Nasarawa State, Nigeria.

International Journal of Research and Innovation in Social Science, 2025, vol. 9, issue 5, 3293-3305

Abstract: The concept of sustainable entrepreneurship via entrepreneurs’ socio-economic welfare is an approach to understand the tie between entrepreneurship standard, successful entrepreneurship and entrepreneurs’ welfare. A successful entrepreneurship is determined by a good, effective and efficient entrepreneurship standard. This study therefore examined the entrepreneurship standard in the North Central Nigeria and its effect on the welfare of entrepreneurs in the region. The field survey was conducted on a sample of 383 respondents drawn from 9 local government areas across three senatorial districts of the selected states: Plateau, Nasarawa and Benue states. A stratified sampling method and snow ball sampling technique were used in sampling entrepreneurs from their various fields of businesses. Ordered logistic regression was used to analyze the responses from 383 questionnaires with a satisfactory response rate of about 80 percent. The study revealed that entrepreneurship impact on the entrepreneurs’’ welfare remains constrained by skill deficiencies and structural challenges. Also, that the interplay between business competencies and welfare outcomes demonstrates that strategic management, financial literacy, and human resource capabilities are pivotal in fostering sustainable enterprises. The study therefore recommended that improving financial literacy, digital proficiency, and strategic marketing capabilities. Training programmes, particularly in financial planning and human resource management, will be essential in fostering sustainable business growth.

Date: 2025
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