EXPLORING THE DETERMINANTS OF VENTURE CREATION AMONG GRADUATES OF BUSINESS EDUCATION IN COLLEGES OF EDUCATION IN OYO STATE

Abstract

This study investigated the determinants of venture creation among graduates of Business Education in Colleges of Education. Recognizing the critical role of entrepreneurship in driving economic growth and reducing rate of unemployment in Nigeria, the study identifies and analyzed factors that influence the propensity and success of venture creation among these graduates, providing a comprehensive understanding of the variables that contribute to entrepreneurial activities in this demographic. The study employed the descriptive research design of survey type. The target population consists of all the final year business education students of the government owned colleges of education in Oyo state. A simple random sampling technique was used to select 82 respondents as the sample of the study. This study employed the use of qualitative method where structured questionnaire were administered to collect the primary data which were processed using mean and standard deviation to analyze the data collected. The findings of this study showed that individual characteristics such as entrepreneurial self-efficacy, motivation, and risk-taking propensity influence the decision of graduates to engage in venture creation. Also, external environment such as market conditions; government policies and economic stability affect their entrepreneurial activities. It was concluded that the decision of graduates to engage in venture creation is multifaceted and influenced by a combination of individual characteristics, exposure to entrepreneurial education, and the external economic environment. It was recommended among others Governments should maintain stable macroeconomic policies to create a predictable economic environment that encourages investment and entrepreneurship.