Background of the Study
Entrepreneurial resilience is a critical factor that determines the ability of businesses to survive and thrive during economic crises. Resilience refers to the capacity of entrepreneurs to adapt to changing circumstances, recover from setbacks, and sustain business operations in the face of adversity. Nasarawa State, a region characterized by economic volatility and periodic disruptions, provides a unique context for examining the role of resilience in business survival.
Economic crises, whether triggered by inflation, currency devaluation, or global disruptions such as the COVID-19 pandemic, have devastating effects on small and medium enterprises (SMEs). According to Musa and Ahmed (2023), resilient entrepreneurs exhibit behaviors such as proactive planning, innovation, and emotional stability, which enable them to navigate uncertain environments. Studies by Obi et al. (2024) show that SMEs with higher levels of resilience are more likely to sustain operations, retain employees, and recover quickly from financial losses.
In Nasarawa State, where many businesses operate with limited resources, resilience plays a significant role in determining business survival. However, factors such as lack of access to financial resources, inadequate infrastructure, and low levels of managerial training limit the ability of entrepreneurs to build resilience (Yakubu & Hassan, 2025). Understanding the relationship between entrepreneurial resilience and business survival during economic crises can provide insights into how businesses can be better supported in challenging times.
Economic crises pose a significant threat to the survival of businesses, particularly in resource-constrained regions like Nasarawa State. Many SMEs are forced to shut down due to their inability to adapt to changing market conditions, financial instability, and supply chain disruptions. Despite the critical role of entrepreneurial resilience in mitigating these challenges, there is limited research on how resilience influences business survival in Nasarawa State.
A study by Ibrahim and Suleiman (2023) highlighted that entrepreneurs who adopt adaptive strategies are more likely to weather economic crises, yet many lack the skills or resources to implement these strategies. This gap has led to a high rate of business closures during periods of economic downturn, negatively impacting employment and local economies.
This study seeks to address the problem by investigating the relationship between entrepreneurial resilience and business survival during economic crises in Nasarawa State. The findings will provide actionable recommendations to enhance resilience among entrepreneurs and support business sustainability.
To examine the relationship between entrepreneurial resilience and business survival during economic crises in Nasarawa State.
To identify the key factors that contribute to entrepreneurial resilience.
To propose strategies for enhancing resilience among entrepreneurs to improve business survival.
What is the relationship between entrepreneurial resilience and business survival during economic crises in Nasarawa State?
What factors contribute to entrepreneurial resilience among business owners in the state?
What strategies can be implemented to enhance resilience among entrepreneurs?
There is a significant positive relationship between entrepreneurial resilience and business survival during economic crises.
Access to financial and social resources significantly enhances entrepreneurial resilience.
Entrepreneurs with higher resilience are less likely to experience business closures during economic crises.
This study focuses on small and medium enterprises in Nasarawa State that have experienced economic crises. It examines the relationship between entrepreneurial resilience and business survival, highlighting the factors that contribute to resilience. The study is limited to Nasarawa State and does not include businesses operating outside the state. Self-reported data may also introduce biases into the findings.
Entrepreneurial Resilience: The ability of entrepreneurs to adapt, recover, and sustain business operations during periods of adversity.
Business Survival: The ability of a business to continue operations and remain financially viable during economic crises.
Economic Crises: Periods of economic downturn characterized by financial instability, reduced consumer spending, and other adverse conditions.
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