Pages: (149-160 )
Abstract
Nigeria's economic situation remains sluggish due to drought Nof entrepreneurs. Globally entrepreneurs are proven catalysts of economic growth and their person-factors have ripple-effects on firms' survival. Local observations and international literature consulted indicate that entrepreneurial features affect survival of SMEs.This empirical study leveraged on this information to examine effect of entrepreneurial features on survival of SMEs within Ikenne-Remo in Ogun State through primary data collection. The researchers collected data by administering validated and pre-tested semi-structured questionnaire to 90 randomly selected entrepreneurs in Ikenne-Remo, Ogun state, who had first-hand experience in setting up small businesses. Simple regression equations were developed and analyses conducted. It was found that there were higher positive significant associations between innovativeness and firm survival with r = 0.85,R2 =0.715,Adjusted R2= 0.360, p< 0.05 and a slightly significant relationship between firm survival and other entrepreneurial features. The paper recommended that entrepreneurs need to adopt pro-active and innovative measures for the survival of their business
Keywords: entrepreneurial features, idea generation, risk-taking, innovativeness, market share and profit,