ENTREPRENEURIAL BEHAVIOR AND POWER FAILURE IN AKWA IBOM STATE: IMPLICATIONS FOR BUSINESS GROWTH AND DEVELOPMENT

Abstract

This study investigates the impact of power failure on entrepreneurial behavior in Uyo metropolis, Akwa Ibom State, Nigeria. The study aims to examine the experiences of entrepreneurs across different business sectors and the effect of power outages on their daily business operations, equipment, patronage and business growth. Using a descriptive design, 120 entrepreneurs were purposively sampled and given a structured questionnaire to determine their experiences with power failure. The findings revealed that power failures were frequent and adversely affected the operation of the businesses in the state. High and low power voltage damaged machineries used by entrepreneurs resulting in constant repairs, replacement, loss of patronage and impeding the growth of their businesses. However, the study also found that high power voltage did not moderate the entrepreneurs' ability to consider starting up new businesses. The research highlights the need for relevant stakeholders and policymakers to address the issue of unreliable electricity supply as a vital tool for successful businesses, and to reduce high cost of operation due to privately sourced alternative power supply