Evaluation of Inhibitors of Business Success in Oyo state, Nigeria: Implication forSustainable Economic Development

Abstract

Entrepreneurship business contributes toward the economic growth of any given country. In
Nigeria (77%) population depends on entrepreneurship business but contribute only 10%
toward economy of the country. The main reason behind this less contribution may be due to
the fact that businesses not attainment the triumph level due to poor business location, poor
customer service, poor marketing, leadership style, bad road network, political unrest, and
lack of raw materials, lack of fund /financial mismanagement, sole trading and inadequate
power supply among the legion of factors associated with business failure. The objective of this
study was to determine the success factors for entrepreneurship business. For this purpose,
about 333 questionnaires were distributed among the sample. Out of which 332 were found
completed / corrected in all respect received back, which was analyzed by using SPSS software
with statistical tool of correlation and multiple regression analysis. Results show that all
factors play vital role in the success of entrepreneurship business.