A phenomenological study of the lived experience of Nigerian entrepreneurs, as it relates to attitude, values, beliefs and the entrepreneurial journey

The idea that entrepreneurship can solve unemployment has undergone in-depth discussion in both the academic and business worlds. However, whether entrepreneurship can achieve the same result across different environments is a pertinent question. Studies suggest several factors responsible for an individual’s intention to start a business to be self-employed. These factors could be social, environmental, economic or political. This study employed a phenomenological design and considered the vehicle of entrepreneurship as a means of addressing Nigeria’s high rates of unemployment by investigating the entrepreneurial intention of individuals to start a business. The study interviewed 16 practising Nigerian entrepreneurs across Retail, Education, Health, Hospitality, Agriculture and Oil Exploration. The intention was to understand participants' entrepreneurship journey and experience to comprehend the critical drivers for entrepreneurship. Results identify ten categories– with sub-themes– that emerged from the interviews conducted. These are grouped under the following headings: being your boss, market opportunity, the process of becoming an entrepreneur, entrepreneurship education, government policy, funding a business, challenges of entrepreneurship in Nigeria, taxation, participant entrepreneurship journey and is entrepreneurship the way forward. The results suggest several factors are responsible for the success of entrepreneurship in a given environment. These factors include relevant business policies, systems, and processes, particularly the level of infrastructural development in the background and government involvement. The findings of this study reveal that entrepreneurs are dynamic, while entrepreneurship can provide individuals with social and economic freedom. However, entrepreneurship requires relevant systems, processes and support, such as government involvement or policies, entrepreneurship education and relevant infrastructural provision. The implications of the findings of this study suggest entrepreneurship is a global concept with a local or contextual application. The study advocates this position because environmental factors or conditions determine whether the vehicle of entrepreneurship could resolve unemployment issues or not. Countries have different circumstances, and, as such, how Business is practised in a country is a function of those factors present in that country, and such factors affect the way companies are created. Therefore, this study contributes to the body of knowledge on entrepreneurial intention concerning how businesses are created, especially in developing countries where factor conditions seem challenging. In addition, it makes a methodological contribution establishing the need for entrepreneurship to be researched from a qualitative position as opposed to quantitative work.