Mindset Matters: Exploring the Relationship between Psychological Traits and Entrepreneurial Intentions among Business Education Students in South-West Nigeria

Abstract

This study investigates the impact of psychological traits on entrepreneurial intention among undergraduate Business Education students in South-West, Nigeria. A descriptive survey research design was adopted, and a total of 1,515 participants from six public universities in the region were surveyed. The manageable population size enabled the use of total enumeration sampling. Data collection was facilitated through the validated Psychological Traits Inventory Scale (PTIS) and Entrepreneurial Intention Scale (EIS), which demonstrated high reliability coefficients of 0.97 and 0.80, respectively, via Cronbach Alpha analysis. Descriptive statistics (mean and standard deviation) and inferential statistics (regression analysis) were employed to analyze the data. The findings indicate that psychological traits significantly influence entrepreneurial intention, with self-efficacy, locus of control, risk-taking propensity, and need for achievement emerging as significant predictors. The study suggests that universities, governments, and stakeholders should establish supplementary incubator programs to identify and cultivate psychological attributes that foster entrepreneurial intention.