The mediating role of entrepreneurial education on sustainable entrepreneurship: Evidence from micro, small and medium enterprise (MSMEs)
Keywords:
Entrepreneurial education, sustainable entrepreneurship, MSMEs.Abstract
In recent time, Small, Micro, medium Scale Entreprises in Nigeria has leveraged breakthroughs in the research and development to improve performance and sustainable development. Nigeria as a nation has since the year 2020 been facing economic meltdown and financial crisis. Prices of both locally made and imported goods have risen above a 200%. Businesses in many areas are folding and some MSMEs are winding-up. Education is widely acknowledged as a key driver of sustainable entrepreneurship and development, and its successful implementation in schools necessitates effective resource and capability management. Micro, small, and medium enterprises (MSMEs) are critical business entities, disproportionately challenged, and fail at a high rate. Business owners are concerned with sustainability strategies because they support the operations of their enterprises and mitigate failure. The Resource-Based Theory is used to examine the role of entrepreneurship education in attaining sustainable entrepreneurship. The theory emphasizes the importance of effective resource and capability management in achieving long-term competitive advantage. This means that, in the context of entrepreneurship education, schools must provide adequate resources and support to teachers and students for them to develop the skills and knowledge required for long-term entrepreneurship, such as access to mentorship, networks, and financial resources. This paper pointed out that sustainable entrepreneurship focuses on creating a balance between business goals and environmental concerns. Entrepreneurs keep our economy and society vibrant by implementing new ideas, which is why our society needs people with entrepreneurship competencies. The development of our entrepreneurship competencies does not begin with the start of our professional lives but is initiated in earlier phases of our socialization. Entrepreneurship education can trigger and support this process. A common goal of entrepreneurship education is to strengthen entrepreneurs with value orientation for a sustainable society. All entrepreneurs of the future are in school today, the nature of their value-oriented education and their willingness to participate is shaped by today’s learning. The paper concludes by emphasizing the potential benefits of entrepreneurship education for attaining the desired sustainability. The study found out that Entrepreneurship makes a central contribution to sustainable development by creating jobs in MSMEs, with poor access to resources, while driving inclusive economic growth and innovation, improving social conditions, and dealing with economic environmental shocks such as the uncertainties of the current food, energy, and financial crises.
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