INTERNATIONAL JOURNAL OF LATEST TECHNOLOGY IN ENGINEERING,
MANAGEMENT & APPLIED SCIENCE (IJLTEMAS)
ISSN 2278-2540 | DOI: 10.51583/IJLTEMAS | Volume XIII, Issue V, May 2024
www.ijltemas.in Page 240
Business Milieus and Core Self-Evaluation in Entrepreneurial
Resilience: A Study of Small-Scale Entrepreneurs at the University
of Uyo, Nigeria
Usen Essien Inyang, Manasseh Iroegbu
Department of Psychology, University of Uyo, Uyo
DOI : https://doi.org/10.51583/IJLTEMAS.2024.130525
Received: 22 May 2024; Accepted: 30 May 2024; Published: 27 June 2024
Abstract: The ability of small-scale businesses in Nigeria to bounce back from adversity is a crucial factor in their long-term
viability and success. This study investigated the predictive roles of business milieus and core self-evaluation (CSE) in
entrepreneurial resilience among small-scale entrepreneurs at the University of Uyo, Nigeria. Employing an ex post facto research
design, data were collected from 226 entrepreneurs operating within the University campuses. Data were collected using the Core
Self-Evaluation Scale (CSES) and the Entrepreneurial Resilience Scale (ERS). Data were analysed with simple percentage,
Pearson product-moment correlation, and multiple regression. The findings revealed that two of the business milieus investigated
in the study (business type and the number of employees) significantly predicted entrepreneurial resilience, while business
registration status and age did not predict entrepreneurial resilience. Additionally, regression analysis revealed the significance of
three dimensions of CSE in entrepreneurial resilience, with self-esteem, locus of control, and self-efficacy emerging as significant
predictors. Recommendations included incorporating modules on building self-esteem, locus of control, and self-efficacy in
entrepreneurship training programmes and tailoring business support services and policies to enhance resilience among small-
scale entrepreneurs. The study contributes to understanding the key factors that impact the ability of small-scale entrepreneurs to
overcome obstacles, offering practical guidance for developing targeted interventions that can help them thrive and achieve their
business goals.
Keywords: Entrepreneurial Resilience, Business Milieus, Core Self-Evaluation, Small-Scale Entrepreneurs, University of Uyo.
I. Introduction
Small-scale businesses are critical to the Nigerian economy, playing a vital role in job creation, economic growth, and poverty
reduction (Ogunsiji, Oyelana, & Olofinyehun, 2020). These businesses, often operated by individuals or families, can range from
roadside kiosks to small manufacturing firms (Oyelana & Adeleke, 2018). They provide essential goods and services to local
communities, and their importance cannot be overstated. Moreover, small-scale businesses are often the lifeblood of the informal
economy, providing a means of livelihood for millions of Nigerians.
In the context of university campuses, small-scale businesses play a vital role in providing goods and services to students, staff,
and faculty. These businesses, often operated by students or recent graduates, can range from food vendors to stationery shops.
They provide essential services, such as printing and photocopying, and offer a convenient way for students to purchase
necessities. Also, small-scale businesses on university campuses are often a key part of the student experience, providing a sense
of community and convenience.
However, small-scale businesses in Nigeria often face significant challenges, including limited access to resources, infrastructure,
and markets (Schutte & Mberi, 2020). These challenges can lead to the closure of numerous small enterprises, which can have a
ripple effect on the entire economy. Despite these challenges, many entrepreneurs have demonstrated remarkable resilience and
adaptability. They have found innovative ways to succeed in a rapidly changing environment, often by developing alternative
marketing strategies. Some have shifted to platform-based marketing, establishing online selling channels to reach customers
(Bryce et al., 2022). Others have merged with other small businesses to form strategic partnerships, enabling them to share
resources and reduce costs. These effective responses have been associated with resilience and may enable small-scale businesses
to thrive in the long term.
Resilience is characterised by the capacity to adapt to rapid and unexpected changes in the environment, as well as the ability to
overcome difficulties and recover from traumatic experiences. Consequently, entrepreneurial resilience refers to the ability of
entrepreneurs to adjust to changes in their business environment and recover from adverse business situations. This form of
resilience involves a dynamic and evolving process through which entrepreneurs acquire knowledge, skills, and abilities that help
them face an uncertain future with positivity, creativity, and optimism, relying on their available resources.
Lee and Wang (2017) define entrepreneurial resilience as the capacity to overcome traumatic business events and recover from
despair, achieving success despite adverse circumstances. This implies that resilient entrepreneurs can rebound from failure and
endure challenging times in business. These entrepreneurs are typically prepared to adapt to changes in business operations,
INTERNATIONAL JOURNAL OF LATEST TECHNOLOGY IN ENGINEERING,
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ISSN 2278-2540 | DOI: 10.51583/IJLTEMAS | Volume XIII, Issue V, May 2024
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enhancing their chances of success. Research highlights the significance of entrepreneurial resilience, emphasising its correlation
with business success and the ability to overcome business adversities (Miao & Ma, 2016; Ayala & Manzano, 2014).
Further research supports the critical role of resilience. Lee and Kim (2017) found that entrepreneurs with high resilience levels
are better equipped to navigate crises and sustain their businesses. Similarly, Luthans et al. (2015) highlighted that resilient
entrepreneurs are more likely to develop innovative solutions and capitalise on opportunities arising from challenging situations.
According to Coutu (2002), resilient individuals possess three characteristics: they accept reality, possess a deep belief that life is
meaningful, and possess an uncanny ability to improvise. In addition, studies by Jena and Sahoo (2019) indicate that
entrepreneurial resilience is not just about surviving but thriving amid adversity. Entrepreneurs with a high degree of resilience
can use their experiences to foster growth and innovation, thus driving their businesses forward even in the face of significant
obstacles. This adaptability and forward-thinking approach are vital for small-scale entrepreneurs, who often operate with limited
resources and face more significant market volatility.
There is a paucity of research on how business milieu factors, such as business registration status, number of employees, business
type, and business age, relate to entrepreneurial resilience. Business milieu refers to the external environment in which a business
operates, including factors such as the regulatory environment, market conditions, and social norms. Business registration status,
for instance, may impact entrepreneurial resilience by influencing access to resources, such as financing and training. Formal
registration may provide entrepreneurs with greater access to these resources, enabling them to better withstand challenges and
adapt to changing circumstances. On the other hand, informal registration or lack of registration may limit access to these
resources, making it more difficult for entrepreneurs to bounce back from setbacks. The number of employees may also influence
entrepreneurial resilience by affecting the ability of the business to adapt to changing circumstances. Businesses with more
employees may have a greater capacity to absorb shocks and respond to changes in the market, whereas businesses with fewer
employees may be more vulnerable to disruptions. Business type may also play a role in entrepreneurial resilience, as certain
types of businesses may be more resilient than others. For example, businesses in the service sector may be more resilient than
those in the manufacturing sector, as they are less dependent on physical infrastructure and may be more able to adapt to changing
market conditions. Finally, business age may influence entrepreneurial resilience by affecting the level of experience and
knowledge that entrepreneurs have acquired over time. Older businesses may have developed more robust systems and processes,
enabling them to better withstand challenges and adapt to changing circumstances.
Core self-evaluation (CSE), another potential factor in entrepreneurial resilience, is a personality trait that has been linked to
various outcomes, including job performance, well-being, and job satisfaction. It refers to an individual's fundamental self-
perception, encompassing their beliefs and evaluations of themselves, their abilities, and their overall worth (Judge & Bono,
2001). CSE consists of four primary dimensions: self-esteem, locus of control, emotional stability, and self-efficacy (Judge &
Bono, 2001).
Self-esteem reflects how individuals perceive themselves, with high self-esteem individuals viewing themselves positively and
low self-esteem individuals being self-critical. Locus of control refers to individuals' beliefs about their ability to influence life
events, with internal locus of control individuals believing they can shape outcomes and external locus of control individuals
seeing events as determined by chance. Emotional stability pertains to individuals' ability to manage stress and emotions, with
high emotional stability individuals handling emotions effectively and low stability individuals struggling. Self-efficacy reflects
individuals' confidence in their ability to accomplish tasks, with high self-efficacy individuals tackling challenges and persisting
despite setbacks.
Research has consistently demonstrated an association between Core Self-Evaluation (CSE) and entrepreneurial resilience. For
instance, Duan et al. (2020) found that entrepreneurs with higher levels of self-esteem, locus of control, and self-efficacy reported
higher levels of resilience, which in turn was associated with better business performance. Similarly, Sánchez-García (2018)
reported that self-esteem, emotional stability, and self-efficacy were positively associated with psychological well-being and
resilience among entrepreneurs. Furthermore, Okon and Etuk (2020) found that entrepreneurs with high levels of self-esteem,
locus of control, and self-efficacy had greater entrepreneurial resilience, enabling them to persevere in the face of challenges and
setbacks. These findings suggest that the dimensions of CSE play a crucial role in fostering entrepreneurial resilience. By
cultivating a strong sense of self-worth (self-esteem), believing in one's ability to control outcomes (locus of control), maintaining
emotional stability, and possessing confidence in one's abilities (self-efficacy), entrepreneurs can develop the resilience needed to
navigate the uncertainties and risks associated with entrepreneurial activities.
Despite the importance of small-scale entrepreneurs to the economy, many small-scale entrepreneurs struggle to adapt to
changing circumstances and bounce back from setbacks. While entrepreneurial resilience is critical for overcoming these
challenges, there is a lack of understanding of the factors that influence entrepreneurial resilience among small-scale
entrepreneurs in Nigeria.
Specifically, the role of business milieus (such as business registration status, number of employees, business type, and business
age) and core self-evaluation (including self-esteem, locus of control, emotional stability, and self-efficacy) in entrepreneurial
resilience remains underexplored, especially among on-campus entrepreneurs. This knowledge gap is problematic because it
limits the development of effective strategies to support small-scale entrepreneurs and promote their resilience.
INTERNATIONAL JOURNAL OF LATEST TECHNOLOGY IN ENGINEERING,
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Furthermore, the University of Uyo, Nigeria, provides a unique context for studying entrepreneurial resilience, as it is a hub for
entrepreneurial activity and innovation. However, there is a lack of research on the specific challenges and opportunities faced by
small-scale entrepreneurs at the university, and how these factors influence their resilience.
Therefore, this study aimed to investigate the role of business milieus and the dimensions of core self-evaluation in
entrepreneurial resilience among small-scale entrepreneurs at the University of Uyo, Nigeria.
Hypotheses
The following hypotheses were tested based on the research objectives
1. Business Milieus (business registration status, number of employees, business type, and business age) will independently
and jointly predict entrepreneurial resilience among small-scale entrepreneurs at the University of Uyo.
2. The four dimensions of CSE (self-esteem, locus of control, emotional stability, and self-efficacy) will independently and
jointly predict entrepreneurial resilience among small-scale entrepreneurs at the University of Uyo.
II. Method/Materials
The selection of an appropriate methodology is the cornerstone of any research. This part encompasses various sections detailing
the techniques and procedures employed to conduct the study.
Research Design
This study employed an ex post facto design to gather data on core self-evaluation and entrepreneurial resilience among small-
scale entrepreneurs within the University of Uyo Campuses. The ex post facto design was chosen because it enables the collection
of data on variables that have already transpired or been assessed in a natural setting. This design is well-suited for examining
relationships between variables that are not under the researcher's control. Since the characteristics of small-scale entrepreneurs
and their businesses are beyond the researcher's influence, the ex post facto design was deemed appropriate for this study.
Population of Study
The population of the study comprised small-scale entrepreneurs who had been operating their businesses for at least one year
within the University of Uyo Campuses.
Participants
The study sampled a total of 226 participants, consisting of 178 (78.8%) males and 48 (21.2%) females from various small-scale
enterprises situated within the University of Uyo Campuses. The sample size for this study was determined using the Taro
Yamane formula, which considers the population size (516) and desired level of confidence to estimate the appropriate sample
size. By applying this formula, the optimal sample size required to achieve reliable and statistically significant results was
determined. Participants’ age ranged from 20 to 48 years with a mean age of 30.65 years.
Inclusion and Exclusion Criteria/Sampling Technique
To ensure the study's validity and reliability, specific inclusion and exclusion criteria were applied. Inclusion criteria required
participants to be small-scale entrepreneurs actively operating within the University of Uyo Campuses, to have been in business
for a minimum of one year, and to be at least 18 years old, ensuring they had the necessary maturity and legal capacity to
participate in the research. The exclusion criteria ruled out individuals who did not meet these conditions. Selecting participants
from small-scale enterprises within the University of Uyo Campuses provided a focused and contextually relevant sample for the
study. The sampling technique employed in this study was a multi-stage purposive approach. Initially, three out of the four
campuses were randomly selected for inclusion in the study: The Annex, Main, and Town campuses. Subsequently, within the
selected campuses, the main participants for the study were chosen using purposive sampling. This approach facilitated the
targeted selection of participants from within the selected campuses based on the established inclusion criteria.
Data Collection Procedure
The study was conducted in two phases – Pilot study and Main Study.
Pilot Study: Before the commencement of the main study, a pilot study was conducted to test the feasibility and refine the
research procedures. The pilot study aimed to assess the clarity, comprehensibility, and appropriateness of the research
instruments and protocols. A convenience sample of 30 participants drawn from the Ime Umana Campus of the University (one of
the university’s campuses), were purposively selected for the pilot study. Participants were administered the research instruments
over a period of 3 days, and collected data were analysed. The two instruments displayed robust psychometric properties, and all
items were retained for the main study.
Training of Research Assistants: Prior to the initiation of data collection, the research team undertook a rigorous training
program to ensure a comprehensive understanding of the study's objectives and methodological protocols. This training
encompassed a detailed examination of the research design, emphasizing the importance of ethical considerations and the
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implementation of protocols to guarantee the protection of participant confidentiality and privacy. The research assistants received
instruction on the effective administration of research instruments, as well as strategies for navigating potential challenges that
may arise during the data collection process. Particular attention was devoted to the principles of informed consent, ensuring that
participants were fully aware of their rights and the implications of their involvement in the study. This training program served to
equip the research assistants with the requisite skills and knowledge, thereby enhancing the overall quality and reliability of the
study's findings.
Main Study: The study employed a purposive sampling strategy to select a cohort of small-scale entrepreneurs, comprising
photocopy operators and online registration entrepreneurs, situated within the three campuses of the University of Uyo, namely
Town Campus, Annex Campus, and Permanent Campuses located along Ikpa road and Nwainba Road, Uyo. Potential participants
were identified from the pool of small-scale entrepreneurs operating within the specified campuses. Subsequently, the researcher,
accompanied by four research assistants, engaged with the identified participants to elucidate the study's objectives,
methodologies, and expectations. Participants were thoroughly informed about their rights, including the right to decline
participation, the right to withdraw from the study at any time, and the right to confidentiality. Furthermore, participants were
assured that their participation was voluntary and that they could withdraw from the study at any time without penalty. Upon
obtaining informed consent, participants were provided with a self-administered questionnaire, which they completed and
returned to the research team. The data collected from these small-scale entrepreneurs within the University of Uyo campuses
constituted the primary dataset for the research study. The data collection process spanned a period of three weeks, with one week
dedicated to each campus. A total of 240 questionnaires were administered, of which 233 were retrieved, and 226 were correctly
completed. Seven questionnaires were deemed incomplete and were subsequently discarded. This yielded a response rate of
94.16%.
III. Instrumentation
To facilitate a thorough examination of the study's objectives, a well-structured questionnaire was utilized, comprising two
distinct instruments. Specifically, the questionnaire incorporated the Core Self-Evaluation Scale (CSES) developed by Judge et al.
(2003), which assesses an individual's fundamental self-evaluations, and the Entrepreneurial Resilience Scale (ERS) developed by
Li et al. (2015), which measures an entrepreneur's capacity to withstand and recover from adversity.
The Core Self-Evaluation Scale (CSES) is a 12-item instrument designed to assess an individual's fundamental appraisal of their
self-worth, effectiveness, and capability. The scale employs a five-point Likert format, ranging from 1 ("Strongly Disagree") to 5
("Strongly Agree"). The items are scored both directly and reversely. Specifically, items 1, 3, 5, 7, 9, and 11 are scored directly,
whereas items 2, 4, 6, 8, 10, and 12 are scored reversely. The normative value of the instrument is 26.50, indicating that scores
above 26.50 reflect high core self-evaluation, while scores below 26.50 suggest low core self-evaluation. The CSES has
demonstrated high reliability, with a reported Cronbach's alpha coefficient of.84 (Judge et al., 2003). Furthermore, the instrument
has been validated across various populations, including employees, university students, and clinical populations (Wanous et al.,
2004; Jepsen et al., 2016; Harms et al., 2017). In the present study, the CSES yielded a Cronbach's alpha coefficient of.73
following a pilot study, indicating acceptable internal consistency.
The Entrepreneurial Resilience Scale (ERS) is a self-report instrument designed to assess an entrepreneur's capacity to cope with
stress, adapt to change, and recover from setbacks. Developed by Li et al. (2015), the ERS comprises 22 items, which are rated on
a 5-point Likert scale ranging from 1 ("Strongly Disagree") to 5 ("Strongly Agree"). Higher scores on the ERS indicate greater
entrepreneurial resilience, with possible total scores ranging from 22 to 110.
The ERS has demonstrated excellent psychometric properties, including good internal consistency (α =.35-.71) and test-retest
reliability (r =.72) (Li et al., 2015). The scale has also exhibited high internal consistency, with a Cronbach's alpha of.92 and an
intraclass correlation coefficient of.86. Furthermore, the ERS has demonstrated convergent and discriminant validity in relation to
other measures of psychological well-being and job satisfaction among entrepreneurs (Li et al., 2015; Li, Song, & Wang, 2015;
Smith & Jones, 2018). A higher score on the ERS indicates greater entrepreneurial resilience. In the present study, the ERS
yielded a Cronbach's alpha of.90 following a pilot study, indicating excellent internal consistency. This suggests that the
instrument is reliable and suitable for use in the present research context.
Method of Data Analysis
The data collected from the participants were analyzed using SPSS version 26. Descriptive statistics, Pearson correlation analysis,
and multiple regression were employed to examine the hypotheses formulated in the study.
Ethical Considerations
This study adhered to rigorous ethical standards, ensuring the protection of participants' rights and dignity. The following ethical
principles were upheld:
Informed Consent: Participants provided informed consent prior to their involvement in the study. They received comprehensive
information about the research, including its objectives, scope, and potential implications. This ensured that participants fully
understood the study and its requirements before providing their consent.
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Confidentiality: The confidentiality of participants' data was strictly maintained. Measures were implemented to safeguard the
privacy of participants, including coding of identifiable data and restricted access to raw data. Only authorized personnel had
access to the data, and no personal details were shared or disclosed to third parties.
Voluntary Participation: Participation in the study was entirely voluntary, and participants were under no obligation to take part.
They were informed of their right to withdraw from the study at any point without facing any consequences. Participants were
assured that their decision to participate or withdraw would not affect their businesses, the University, or any other entity.
IV. Results
This section presents information on the results of data analyzed in this research
Data Presentation and Analysis
Table 1: Business Profile of Participants
Variable
Frequency
Percentage
Registration Status
Registered
29
12.8%
Unregistered
197
87.2%
Number of Employees
0-5 employees
189
83.6%
Above 6 employees
37
16.4%
Business Type
Online Registration
84
37.2%
Groceries
32
14.2%
Stationaries
32
14.2%
Photography
22
9.7%
Computer Services
56
24.8%
Business Age
Below 5 years
133
58.8%
5 years and above
93
41.2%
Total
226
100
The data presented in Table 1 above provide insights into the demographic and business characteristics of small-scale
entrepreneurs within the University of Uyo campuses. In terms of the registration status of their businesses, a relatively small
proportion of businesses, 29 (12.8%), were registered, while the majority, 197 (87.2%), were unregistered. The Table further
revealed that 189 (83.6%) entrepreneurs had 5 or fewer employees, while 37 (16.4%) entrepreneurs had more than 6 employees.
Analysis of business types indicates that the most prevalent category was online registration services, accounting for 37.2% of the
sample. Groceries and stationery comprised 14.2% each, followed by photography services at 9.7%, and computer services at
24.8%. Regarding the duration of business operations, the majority of entrepreneurs (58.8%) reported having been in business for
less than 5 years, while 41.2% reported 5 years or more of operation.
Table 2: Zero Order Correlation Matrix of Study’s Variables Among Small-Scale Entrepreneurs within the University of Uyo
Campuses
RS
BT
BA
NoE
SE
LoC
ES
SEF
RS
r
Sig
N
226
BT
r
.056
sig
.406
N
226
226
BA
r
-.011
-.067
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Sig
.874
.318
N
226
226
226
NoE
r
-.076
-.102
-.076
Sig.
.253
.125
.253
N
226
226
226
226
SE
r
-.035
.029
.052
-.133
*
Sig.
.600
.664
.440
.046
N
226
226
226
226
226
LoC
r
-.022
-.025
-.067
-.114
.056
Sig.
.740
.704
.318
.086
.403
N
226
226
226
226
226
226
ES
r
-.023
-.032
.003
-.052
.017
.129
Sig.
.734
.635
.960
.436
.797
.053
N
226
226
226
226
226
226
226
SEF
r
.183
**
-.055
.011
.030
-.013
-.042
-.025
Sig.
.006
.411
.871
.652
.848
.530
.714
N
226
226
226
226
226
226
226
N/B: RS = Registration Status, BT = Business Type, NoE = Number of Employees, BA = Business Age, SE = Self-Esteem, LoC
= Locus of Control, ES = Emotional Stability, SEF = Self-Efficacy
Result presented in Table 2 above indicates that registration status exhibited no significant correlation with business type (r =
0.056, p = 0.406), years of business (r = -0.011, p = 0.874), business age (r = -0.076, p = 0.253), self-esteem (r = -0.035, p =
0.600), locus of control (r = -0.022, p = 0.740), or emotional stability (r = -0.023, p = 0.734). however, it showed a significant
positive correlation with self-efficacy (r = 0.183**, p = 0.006). business type did not significantly correlate with years of business
(r = -0.067, p = 0.318), business age (r = -0.102, p = 0.125), self-esteem (r = 0.029, p = 0.664), locus of control (r = -0.025, p =
0.704), emotional stability (r = -0.032, p = 0.635), or self-efficacy (r = -0.055, p = 0.411). Years of business showed no significant
correlation with business age (r = -0.076, p = 0.253), self-esteem (r = 0.052, p = 0.440), locus of control (r = -0.067, p = 0.318),
emotional stability (r = 0.003, p = 0.960), or self-efficacy (r = 0.011, p = 0.871). Business age showed no significant correlation
with self-esteem (r = -0.133*, p = 0.046), locus of control (r = -0.114, p = 0.086), emotional stability (r = -0.052, p = 0.436), or
self-efficacy (r = 0.030, p = 0.652). Self-esteem did not significantly correlate with locus of control (r = 0.056, p = 0.403),
emotional stability (r = 0.017, p = 0.797), or self-efficacy (r = -0.013, p = 0.848). Locus of control exhibited no significant
correlation with emotional stability (r = 0.129, p = 0.053) or self-efficacy (r = -0.042, p = 0.530). Emotional stability showed no
significant correlation with self-efficacy (r = -0.025, p = 0.714).
Table 3: Summary of Regression Analysis showing the predictive Roles of Business Milieus in Entrepreneurial Resilience
Predictors
Β
t-value
Sig
R
R²
F
P
df
Registration Status
-0.189
-0.057
.954
Business Type
-1.107
-2.513
.013
.241
.058
3.388
.010
4, 221
Business Age
-0.695
-1.651
.100
Numbers of Employees
-1.425
-2.610
.010
The analysis in Table 3 reveals the significant impact of various business characteristics on entrepreneurial resilience. Notably,
business type is a significant predictor of entrepreneurial resilience (β = -1.107, t-value = -2.513, p<.05). Additionally, the
number of employees had a negative prediction on entrepreneurial resilience (β = -1.425, t-value = -2.610, p = .<.05), suggesting
that entrepreneurs with larger workforces tend to be less resilient. In contrast, the registration status of a business does not have a
significant influence on entrepreneurial resilience (β = -0.189, t-value = -0.057, p>.05). Similarly, business age does not
significantly impact resilience (β = -0.695, t-value = -1.651, p>.05). The overall model fit is moderate, with an R² value of 0.058,
indicating that the business milieus predictors explain approximately 5.8% of the variance in entrepreneurial resilience. The F-
statistic (F = 3.388, p = .<05) suggests that the overall model is significant, and the predictors collectively contribute to the
explanation of entrepreneurial resilience. Therefore, the hypothesis predicting the independent and joint influence of business
milieus on entrepreneurial resilience among small-scale entrepreneurs at the University of Uyo is partially supported.
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Table 4: Summary of Regression Analysis Showing the Predictive Roles of the dimensions of Core Self-Evaluation in
Entrepreneurial Resilience
Predictors
Β
t-value
Sig
R
R²
F
P
df
Self Esteem
10.613
4.943
.000
.379
.144
9.265
.000
4, 221
Locus of control
5.532
2.602
.010
Emotional Stability
-1.926
-0.913
.362
Self-Efficacy
4.732
2.180
.030
The regression analysis reveals several key findings regarding the predictive roles of psychological factors in entrepreneurial
resilience. Self-esteem emerged as a significant predictor of entrepreneurial resilience (β = 10.613, t = 4.943, p < .05), indicating
a strong positive association with resilience. Similarly, Locus of Control (LoC) shows significance (β = 5.532, t = 2.602, p <
.05), suggesting that individuals with a greater sense of control tend to exhibit higher levels of resilience.
However, emotional stability did not demonstrate significant predictive power on entrepreneurial resilience (β = -1.926, t = -
0.913, p>.05), implying that emotional tendencies, specifically stability, may not strongly influence entrepreneurial resilience.
Self-efficacy had a significant positive prediction on entrepreneurial resilience (β = 4.732, t-value = 2.180, p < .05), indicating
that individuals with higher levels of self-efficacy tend to be more resilient.
Overall, the model's fit is moderate, explaining approximately 14.4% of the variance in entrepreneurial resilience (R² = .144). The
F-statistic (F = 9.265, p < .05) indicates that the overall model is significant, and the predictors collectively contribute
meaningfully to entrepreneurial resilience among small-scale entrepreneurs at the University of Uyo. Therefore, the hypothesis
regarding the influence of the four dimensions of core self-evaluation on entrepreneurial resilience is partially supported,
highlighting the importance of self-esteem, locus of control, and self-efficacy in fostering resilience in entrepreneurial
endeavours.
V. Discussion of Findings
The first hypothesis posited that business milieus, including business registration status, number of employees, business type, and
business age, would individually and collectively predict entrepreneurial resilience among small-scale entrepreneurs at the
University of Uyo, was partially supported. The results suggest that business type is a significant predictor of entrepreneurial
resilience, with certain types of businesses being more resilient than others. This finding is consistent with the notion that
business type can influence entrepreneurial resilience by affecting the ability of the business to adapt to changing circumstances.
For instance, service-based businesses may be more resilient than product-based businesses due to their lower dependence on
physical infrastructure and greater ability to adapt to changing market conditions (Etuk, 2020). The negative impact of the number
of employees on entrepreneurial resilience was also noteworthy. This finding suggests that businesses with larger workforces may
be less resilient due to the added complexity and responsibility of managing a larger workforce. This is in line with the idea that
businesses with more employees may have a greater capacity to absorb shocks and respond to changes in the market but may also
be more vulnerable to disruptions and challenges (Etuk, 2020). Contrary to expectations, the registration status of a business did
not have a significant influence on entrepreneurial resilience. This finding suggests that formal registration may not necessarily
provide entrepreneurs with greater access to resources, such as financing and training, which could enable them to better
withstand challenges and adapt to changing circumstances. Similarly, business age did not significantly impact resilience,
indicating that the level of experience and knowledge acquired over time may not be a critical factor in determining
entrepreneurial resilience.
The finding of the study also provides insights into the predictive roles of the dimensions of CSE in shaping entrepreneurial
resilience among small-scale entrepreneurs at the University of Uyo. The hypothesis, which stated that self-esteem, locus of
control, emotional stability, and self-efficacy would independently and jointly predict entrepreneurial resilience among on-
campus small-scale entrepreneurs at the University of Uyo, was partially supported. These findings align with prior research,
which has consistently highlighted the positive link between Core Self-Evaluation (CSE) and entrepreneurial resilience.
Specifically, self-esteem emerged as a pivotal predictor of entrepreneurial resilience, showcasing a robust positive association.
This suggests that entrepreneurs with higher self-esteem levels are more adept at navigating challenges and setbacks. This finding
resonates with existing literature emphasizing the significance of self-esteem in stress management and resilience-building (Duan
et al., 2020; Sánchez-García, 2018). Essentially, entrepreneurs who harbour a strong sense of self-worth are better poised to
confront the uncertainties inherent in entrepreneurial pursuits. Likewise, locus of control (LoC) emerged as another predictor,
indicating a positive relationship with entrepreneurial resilience. This implies that individuals perceiving greater control over their
environment and outcomes tend to exhibit heightened resilience levels. This finding corroborates prior studies underscoring the
role of LoC in stress-coping mechanisms (Okon & Etuk, 2020). Essentially, entrepreneurs who harbour beliefs in their ability to
influence circumstances are more resilient in bouncing back from adversities.
However, the analysis did not find emotional stability to be a significant predictor of entrepreneurial resilience, marking a
departure from expectations. While emotional regulation is typically deemed crucial in stress management, its impact on
INTERNATIONAL JOURNAL OF LATEST TECHNOLOGY IN ENGINEERING,
MANAGEMENT & APPLIED SCIENCE (IJLTEMAS)
ISSN 2278-2540 | DOI: 10.51583/IJLTEMAS | Volume XIII, Issue V, May 2024
www.ijltemas.in Page 247
entrepreneurial resilience appears less pronounced in this context. This suggests that emotional stability might not wield as much
influence on resilience among small-scale entrepreneurs at the University of Uyo.
On the other hand, self-efficacy emerged as a significant predictor of entrepreneurial resilience, displaying a positive association.
This implies that entrepreneurs with higher self-efficacy levels demonstrate greater resilience in the face of challenges. This
finding aligns with prior research emphasizing the pivotal role of self-efficacy in stress-coping strategies (Duan et al., 2020;
Sánchez-García, 2018). Essentially, entrepreneurs equipped with confidence in their abilities are better equipped to navigate the
uncertainties and risks inherent in entrepreneurial endeavours.
VI. Conclusion
This study investigated the predictive roles of business milieus and core self-evaluation in entrepreneurial resilience among small-
scale entrepreneurs at the University of Uyo. Based on the findings, it was concluded that business type and number of employees
are significant predictors of entrepreneurial resilience, while registration status and business age do not impact entrepreneurial
resilience. Additionally, it was concluded that the dimensions of core self-evaluation (CSE), including self-esteem, locus of
control, and self-efficacy, are significant predictors of entrepreneurial resilience while emotional stability is not a determiner of
entrepreneurial resilience among small-scale entrepreneurs.
The study's findings have implications for developing interventions and training programmes aimed at increasing entrepreneurial
resilience among small-scale entrepreneurs. Recognising the interplay between business characteristics and psychological
dynamics enables entrepreneurs and policymakers to craft targeted strategies that enhance resilience and drive business success.
Recommendations
Based on the findings of this study, it is recommended that entrepreneurship training programmes should be designed to
incorporate modules that focus on building self-esteem, locus of control, and self-efficacy, to foster resilience among
entrepreneurs. Business support services, such as mentorship and coaching, should be tailored to address the specific needs of
entrepreneurs based on their business type and size. Also, policymakers should consider implementing policies that support small-
scale entrepreneurs, such as tax incentives and access to credit, to foster resilience and improve business outcomes. Further
research is necessary to explore the predictive roles of business milieus and CSE in entrepreneurial resilience among different
populations and contexts. Additionally, interventions aimed at improving emotional stability, such as stress management and
emotional intelligence training, may be beneficial for entrepreneurs who struggle with emotional stability. By implementing these
recommendations, entrepreneurs, policymakers, and researchers can work together to promote entrepreneurial resilience and
improve business outcomes among small-scale entrepreneurs.
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