Entrepreneurial Culture and Performance of Micro, Small, and Medium Enterprises in Nigeria

Abstract

Micro, Small, and Medium Enterprises (MSMEs) serve as the bedrock of economic growth, employment generation, and industrialization in Nigeria. However, their high mortality rate and persistent underperformance within the volatile macroeconomic climate present a severe development paradox. This study empirically examines the relationship between entrepreneurial culture—conceptualized through entrepreneurial mindset, entrepreneurial leadership, and risk-taking orientation—and the firm performance of MSMEs in Nigeria. Utilizing a explanatory survey research design, data were collected from 384 structured questionnaires administered to MSME owners and managers across selected industrial hubs. The empirical data were analyzed using multiple linear regression. The findings reveal that all dimensions of entrepreneurial culture possess a statistically significant, positive relationship with firm performance, with entrepreneurial mindset exerting the strongest predictive influence. The study concludes that structural interventions focusing merely on financial liquidity are insufficient without fostering an internal organizational culture aligned with innovation and strategic resilience. It recommends that the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN) integrate cultural and cognitive capability training into national enterprise support frameworks