Institutional Environmental Attributes and Entrepreneurship Development in Nigeria

This paper examined the influence of institution environmental attribute on Business development with a specific focus on the numbers of aspiring entrepreneurs in Lagos State. Primary data were used. The primary data were sourced through a self-administered structured questionnaire designed for small scale business owners in Alimosho LCDA, Lagos State, Nigeria. A proportionate stratified random sampling technique was used to select a sample of one hundred and twenty (120) respondents from a population of registered members of small and business operator in Alimosho LCDA, Lagos state. Data collected were analyzed using descriptive statistics like a table percentage, while formulated hypotheses were tested through the use of Regression Analysis at 95% confidence level. The result (P-Value_ 0.0000: R2_0.488) revealed that institution environmental attribute has significantly influenced individual business persons aspiring to be entrepreneurial. This study concluded that weak and corrupt government institution is detrimental to long term sustainable business performance and inimical to Entrepreneurship development and therefore, recommended that individuals and non-governmental organizations should join hands with the government in the fight against corruption in order to create a business friendly environment