LEVERAGING ON BUSINESS IDEA GENERATION FOR SUSTAINABLE START-UP PERFORMANCE IN NIGERIA
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Abstract
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The practice of entrepreneurship is entrenched in the conception and exploration of new
business ideas. Among other factors, lack of viable and efficient new business ideas has also led
to the failure of many start-ups. This ultimately impacts negatively on the capacity of
entrepreneurs to generate employment especially in emerging economies such as Nigeria where
the private sector is becoming very pivotal. Of particular interest is the emergence of faith based
organisations (FBOs) as key players in the mobilisation of budding entrepreneurs through
training and other activities. Given the importance of business idea generation (BIG) to the
success of start-ups, this paper examines the relationship between BIG and sustainable start-up
performance using the products of the entrepreneurship activities of FBOs in a Nigerian context.
The study made use of questionnaire as main data collection instrument. Data were collected
from trainees of three selected FBO entrepreneurship programmes who have started their
business. The data were subjected to relevant statistical analysis, including descriptive statistics
using SPSS version 25. Hypotheses were analysed using structural equation model (SEM). The
findings showed that business idea has a significant relationship with sustainable start-up
performance (new product development, perceived customer satisfaction, operational efficiency,
productivity and competitive positioning). However, it was discovered that productivity has the
most predictive value at (β= 0.669, R2=0.448, t-statistics=10.953>1.96, P-value =0.000 <0.05).
This study concluded that a good business idea would sustain business continuity that can
eradicate poverty, generate employment and improve economic empowerment, reinforcing
economic, social and possibly environmental sustainability.
Keywords
H Social Sciences (General)