Chapter One — 1.1 Background to the Study

Business Plan Competitions has increasingly attracted the attention of researchers, regulators, and practitioners concerned with business survival rate of small and medium enterprises (smes). This growing interest reflects the recognition that business plan competitions does not operate in isolation, but interacts with a wider set of institutional and market conditions found within Selected Federal Government Parastatals in Nigeria.

Selected Federal Government Parastatals in Nigeria presents a useful setting for examining this relationship precisely because the conditions there — structural, regulatory, and behavioural — differ from those typically assumed in the broader literature, most of which draws on evidence from more developed economies.

1.2 Statement of the Problem

While business plan competitions is widely discussed in policy and industry circles, empirical evidence on its actual effect on business survival rate of small and medium enterprises (smes) within Selected Federal Government Parastatals in Nigeria remains sparse and, in places, contradictory. This lack of localized, rigorous evidence makes it difficult for decision-makers to know with confidence whether current approaches to business plan competitions are helping or hindering business survival rate of small and medium enterprises (smes) — a gap this study sets out to close.

1.3 Objectives of the Study

1. To examine the effect of Business Plan Competitions on business survival rate of small and medium enterprises (smes) in Selected Federal Government Parastatals in Nigeria.
2. To assess the extent to which business plan competitions influences business survival rate of small and medium enterprises (smes) within the study area.
3. To identify the challenges associated with business plan competitions in relation to business survival rate of small and medium enterprises (smes).
4. To recommend strategies for optimizing business plan competitions in order to improve business survival rate of small and medium enterprises (smes).

1.4 Research Questions

1. What is the effect of business plan competitions on business survival rate of small and medium enterprises (smes) in Selected Federal Government Parastatals in Nigeria?
2. To what extent does business plan competitions influence business survival rate of small and medium enterprises (smes) within the study area?
3. What challenges are associated with business plan competitions in relation to business survival rate of small and medium enterprises (smes)?
4. What strategies can be adopted to optimize business plan competitions in order to improve business survival rate of small and medium enterprises (smes)?

1.5 Significance of the Study

Beyond its academic contribution to the field of entrepreneurship, this study has practical value for management teams within Selected Federal Government Parastatals in Nigeria seeking to understand how business plan competitions translates into measurable outcomes around business survival rate of small and medium enterprises (smes). It is equally useful to students and future researchers looking for a localized empirical reference on this relationship.

1.6 Scope of the Study

In terms of scope, this PhD study confines itself to Selected Federal Government Parastatals in Nigeria, focusing specifically on how business plan competitions relates to business survival rate of small and medium enterprises (smes) within that setting. Findings are interpreted within these boundaries rather than as universal claims applicable to every organization or market.