The Influence of Insecurity on Individuals’ Willingness to Engage in Entrepreneurial Activities in Oyo Town, Nigeria

Abstract

Entrepreneurship depends on stability, trust, and resource security. However, persistent insecurity disrupts these foundations and discourages investment in new ventures. This study examined how insecurity affects individuals’ willingness to engage in entrepreneurial activities in Oyo Town, a semi-urban area in southwestern Nigeria. Survey research design was adopted, and data were collected from 240 small and medium-scale farmers selected through a convenient sampling technique. A structured questionnaire with validated constructs (Cronbach’s Alpha > 0.70) was used to gather information on respondents’ demographics, perceived insecurity, and entrepreneurial willingness. Descriptive and inferential statistics, including regression analysis, were employed to test the relationship between the two variables. Findings revealed a relatively high perception of insecurity (Mean = 4.03; SD = 0.99) and a moderately strong willingness to engage in entrepreneurship (Mean = 3.82; SD = 0.71). Regression analysis showed that insecurity explains about 25.5% of the variation in entrepreneurial willingness (R² = 0.255; F = 19.194; p < 0.001), this indicates a statistically significant relationship. The study concludes that insecurity meaningfully influences entrepreneurial decision-making by shaping risk perception and investment confidence. It was recommended that strengthening local security measures and providing financial resilience mechanisms are important to promoting a more conducive environment for entrepreneurship and economic growth in Oyo Town.