ENTREPRENEURIAL RESILIENCE IN THE FACE OF ECONOMIC CRUNCH:A FOCUS ON SOUTH- EAST NIGERIA

Abstract

Entrepreneurial resilience has become a critical capability in volatile economies where
systemic instability undermines enterprise sustainability. In Nigeria, micro, small, and
medium-sized enterprises (MSMEs) represent over 96% of businesses, yet face persistent
challenges including inflation, currency devaluation, infrastructural deficits, and policy
inconsistency. This study examined resilience as a multidimensional construct which
encapsulate survival, adaptability, innovation, and risk-taking with specific focus on
entrepreneurs in South-East Nigeria. A descriptive survey design was employed, and data
were collected from 132 entrepreneurs using a modified Connor-Davidson Resilience Scale.
The responses were analyzed with descriptive statistics, one-sample t-tests, and effect size
estimation. Findings revealed that risk-taking propensity was the most dominant resilience
dimension (M = 3.90), demonstrated through business pivots, mobile banking adoption, and
collaborative partnerships. Survival (M = 3.34) and adaptability (M = 3.24) were also
significant, reflecting pragmatic borrowing, focus on goals, pricing strategies, and customer
management. Innovation (M = 3.16) was the weakest, largely restricted to online selling and
rapid idea execution rather than resource-intensive product development. The study
concludes that entrepreneurial resilience in resource-constrained environments is anchored
more in pragmatic behaviors and strategic agility than in product innovation. It contributes
to resilience theory by emphasizing behavioral specificity, innovation asymmetry, and the
centrality of risk-taking under economic adversity. Policy implications highlight the
expansion of digital infrastructure, financial inclusion, and innovation support systems as
crucial levers for enhancing entrepreneurial sustainability.