Attitude Towards Money and Tolerance for Ambiguity as Predictors of Entrepreneurial Passion: A Study Among Entrepreneurs in Ado Ekiti Metropolis

Abstract

There has been growing unemployment in Nigeria in the recent years and a few organizations that served as sources of employment are moving out of Nigeria. Entrepreneurship is believed to be a source of employment and revenue generation for economic growth. And people’s attitude towards money and their ability to withstand uncertainty and take risks is the hallmark of entrepreneurship.This study therefore investigated entrepreneurs’ attitude towards money and their tolerance for ambiguity as determinants of entrepreneurial passion using a survey method of research and ex-post facto research desigh.A total of 244 entrepreneurs were conveniently sampled from among entrepreneurs in Ado Ekiti metropolis. With the use of a questionnaire made up of three standardized measures od tolerance for ambiguity, entrepreneurial passion, and attitude towards money, data were generated to test three stated hypotheses.Results of data analyses using the t-test for independent samples, regression analysis, and 2 by 2 Analysis of Variance confirmed that Tolerance for Ambiguity is a significant factor of entrepreneurial passion {t (242) = 3.595; p < .05}. It was also revealed that Attitude towards Money significantly predicts Entrepreneurial Passion {F (6,237) =12.661; p,.05}. Finally, no significant difference was found between male and female entrepreneurs on their entrepreneurial passion.Findings were therefore discussed in line with existing empirical studies and theoretical considerations and recommendations were made.

Keywords:Tolerance for Ambiguity, Attitude Towards Money, Entrepreneurial Passion, Entrepreneurs, Ekiti-State

DOI: 10.7176/EJBM/16-3-04

Publication date: April 30^th 2024