Nigerian Journal of Banking and Financial Issues (NJBFI)

EXPLORING INNOVATIVNESS AND RISK-TAKING TENDENCIES AMONG EMERGING ENTREPRENEURS

Abstract

This paper investigated the potentiality of innovativeness and risk-taking in developing successful entrepreneurs among students in entrepreneurship education programmes. Insights from contemporary literature on innovation, risk-taking, and entrepreneurship development were synthesized to establish theoretical foundations. The study employed a survey method targeting 300-level entrepreneurship students at Lagos State University, Nigeria. A mixed-method approach combining quantitative and qualitative techniques was utilized. Results from regression analysis revealed that willingness to innovate has a moderate positive relationship with entrepreneurial success (R = 0.355, β = 0.251, p < 0.05), explaining 12.6% of variance, while willingness to take risks shows a significant but modest relationship (R = 0.176, β = 0.161, p < 0.05), explaining 3.1% of variance. Both constructs were statistically significant predictors of entrepreneurial success. The study concludes that entrepreneurial development requires active engagement in innovation and calculated risk-taking to enhance competitive advantage and achieve sustainable business growth. Findings have implications for entrepreneurship education curricula, training programs, and policy interventions in emerging economies.