The Role of Peer Networks in Entrepreneurial Success: A Case Study of Traders in Taraba State
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- 1-5 Chapters
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- NGN 5000
Background of the Study
Peer networks play a vital role in fostering entrepreneurial success by providing access to resources, mentorship, and market opportunities. For traders in Taraba State, peer networks facilitate knowledge sharing, collaboration, and collective problem-solving, which are critical for navigating the challenges of running a business (Adamu & Yakubu, 2024).
Entrepreneurs operating in Taraba State often rely on informal networks to access capital, build customer bases, and learn best practices. These networks serve as support systems that enhance resilience and innovation in the face of economic uncertainties. However, the specific mechanisms through which peer networks influence entrepreneurial success remain underexplored in this context (Ali & Danjuma, 2025).
This study aims to investigate the role of peer networks in the success of traders in Taraba State, providing insights into how social and professional connections contribute to business growth.
Statement of the Problem
Despite the recognized importance of peer networks, many traders in Taraba State struggle to leverage these connections effectively. Challenges such as limited access to diverse networks, weak collaboration, and lack of formal structures often hinder the potential benefits of peer interactions (Umar & Hassan, 2023).
The lack of research on the specific role of peer networks in entrepreneurial success in Taraba State creates a gap in understanding their contributions. This study seeks to address this gap by examining the impact of peer networks on business outcomes for traders in the region.
Objectives of the Study
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To analyze the composition and structure of peer networks among traders in Taraba State.
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To evaluate the impact of peer networks on the entrepreneurial success of traders.
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To recommend strategies for enhancing the effectiveness of peer networks.
Research Questions
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What is the composition and structure of peer networks among traders in Taraba State?
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How do peer networks influence entrepreneurial success for traders?
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What strategies can enhance the effectiveness of peer networks in supporting entrepreneurship?
Research Hypotheses
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Peer networks significantly contribute to entrepreneurial success.
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Stronger peer connections enhance access to resources and opportunities for traders.
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Addressing challenges within peer networks improves their impact on entrepreneurial outcomes.
Scope and Limitations of the Study
This study focuses on traders in Taraba State, examining their peer networks and the role these networks play in their entrepreneurial success. Limitations include the variability of peer network dynamics and the generalizability of findings to other regions or sectors.
Definitions of Terms
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Peer Networks: Groups of individuals or organizations that share knowledge, resources, and support to achieve common goals.
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Entrepreneurial Success: The achievement of business goals, including profitability, growth, and market influence.
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Traders: Entrepreneurs involved in the buying and selling of goods and services.
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