ENTREPRENEURSHIP INNOVATION AS A CATALYST FOR ENTREPRENEURIAL SUCCESS AMONG SMALL AND MEDIUM SCALE ENTERPRISES IN LAGOS ISLAND AREA OF LAGOS STATE

Abstract

This study examined entrepreneurship innovation as a catalyst for entrepreneurial success among small and medium scale enterprises in Lagos Island Area of Lagos State. Survey research design was employed and questionnaire was used as the research instrument. Simple random sampling technique was used to select two hundred and one (201) respondents among Micro, Small and Medium Scale Enterprises (MSMSEs) in Lagos Island Area of Lagos state while two hundred (200) copies of the questionnaire were fully completed and returned. Simple percentage was employed to analyze the responses of the questionnaire while Pearson Moment Correlation was used to test the hypotheses formulated. It was discovered incremental innovation have significant impact on entrepreneurial success, it was established that architectural innovation has significant relationship to entrepreneurial success, also that modular innovations significant relationship to entrepreneurial success and that process innovation has significant impact on entrepreneurial success. It is therefore recommended that government need to provide support for private initiatives through provision of funds either through grant or soft loans to empower MSMSEs; also enact policy that provide conducive environment for MSMSEs to thrive. There also need for government to upgrade amenities and infrastructures to will facilitate the smooth operations MSMSEs.