Entrepreneurial Risk Taking and Market Share of Selected Micro Enterprises Firms in Nigeria

Abstract

The study examined the effect of entrepreneurial risk taking on the market share of selected micro enterprises in Nigeria. The study employed a descriptive survey research design, with a population of 41,469,947 micro enterprises in Nigeria, from which a sample size of 400 was determined using the Taro Yamane formula. Data were collected through a structured questionnaire administered to owners and managers of micro enterprises. The hypotheses were tested using simple regression analysis to establish the effect of entrepreneurial risk taking on market share at a 5% level of significance. It was found that entrepreneurial risktaking has a positive and significant effect on market share (β = 0.967, p = 0.000). In conclusion, the ability and willingness of entrepreneurs to take calculated risks is not only essential for survival but also serves as a catalyst for expanding customer reach and improving competitiveness in the market. The study recommends that associations such as chambers of commerce and local SME cooperatives should organize regular workshops, peer-to-peer mentoring programs, and industry exhibitions where entrepreneurs can share experiences of risk-taking strategies that have yielded success. Creating such a collaborative learning environment will reduce fear of risk, build confidence among members, and equip more businesses with proven strategies for expanding their share of the market.