Entrepreneurial Mindsets and Venture Creation among the Vocational and Business Education Graduates in Selected Universities in Nigeria

Abstract

This study examines why many vocational and business education graduates in Nigeria struggle to convert acquired skills into viable enterprises, focusing on the role of entrepreneurial mindset. Using descriptive and explanatory research designs, the study surveyed 136 postgraduate students in Ogun State who had graduated from vocational and business education programmes and were already engaged in business activities. Data were collected through a structured questionnaires rated on a 4-point Likert scale, and analysed through descriptive statistics and Partial Least Squares Structural Equation Modeling (PLS-SEM). Findings reveal that graduates generally exhibit strong entrepreneurial attitudes, with opportunity identification emerging as the most significant predictor of venture creation (β = 0.341, p = 0.001). This suggests that the ability to recognize viable business opportunities substantially enhances the likelihood of successful business formation. Proactive behaviour (β = 0.312) also significantly influences enterprise development, indicating that initiative-taking and calculated risk-taking are critical drivers of entrepreneurial success. Additionally, resilience capacity (β = 0.287), reflecting persistence and adaptability, plays a meaningful though, comparatively weaker role in sustaining enterprises. Despite these strengths, several constraints hinder sustainable business development, including limited risk tolerance, inadequate access to finance, weak policy support, and insufficient resilience mechanisms. The study concludes by recommending targeted entrepreneurship training, structured mentoring programmes, and supportive policy interventions to strengthen enterprise sustainability. These measures are essential for improving graduate employability, fostering business growth, and advancing Nigeria’s progress toward Sustainable Development Goal 8 (decent work and economic growth).