Roles of Social Support and Life Satisfaction on Entrepreneurial Intention among Selected University Students in Oye-Ekiti, Nigeria

Abstract

The current alarming unemployment rate in most African countries, particularly Nigeria, has necessitated a call for change in job orientation, especially among the teeming youth population of the country’s undergraduates, aiming to imbibe positive attitudes towards entrepreneurial intention that can serve as alternative employment means. Therefore, this study investigated social support and life satisfaction as predictors of entrepreneurial intention among undergraduates of the Federal University of Oye, Ekiti state, Nigeria. This study adopted an expo-facto research design. A total sample of 350 respondents participated in this study, and the sample was selected through a multistage sampling technique. Three (3) standardized psychological instruments were used for data collection in this study. These instruments include the Perceived Social Support Scale, Satisfaction with Life Scale, and Entrepreneurial Intention Scale. Three (3) hypotheses were tested using multiple regression analysis and independent t-test analysis. The result of hypothesis one shows that there was a significant joint influence of social support and life satisfaction on entrepreneurial intention, {F(2,347) = 16.93, R² =0.09;p<.05}. The result of the second hypothesis reveals a significant prediction of family support {F(1,348)=34.92, R² = 0.09; p<.05, friend support [F(1,348) =14.71, R² = 0.04; p<.05} and significant others{F(1,348) = 19.99, R² = 0.05; p<.05} on entrepreneurial intention. The result of hypothesis three shows that there is a significant difference between male and female undergraduates in attitude towards entrepreneurial intention [t (348) = 3.256; p<0.05]. This study concluded that social support and life satisfaction are important determinants of entrepreneurial intention among university undergraduates.