Chapter One — 1.1 Background to the Study

Over the past decade, the relationship between entrepreneurial orientation and business growth of informal sector businesses has become a subject of considerable debate among scholars and industry practitioners alike, particularly within the context of Selected Fintech Companies in Nigeria where operating conditions differ markedly from more developed markets.

Selected Fintech Companies 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 entrepreneurial orientation is widely discussed in policy and industry circles, empirical evidence on its actual effect on business growth of informal sector businesses within Selected Fintech Companies 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 entrepreneurial orientation are helping or hindering business growth of informal sector businesses — a gap this study sets out to close.

1.3 Objectives of the Study

1. To examine the effect of Entrepreneurial Orientation on business growth of informal sector businesses in Selected Fintech Companies in Nigeria.
2. To assess the extent to which entrepreneurial orientation influences business growth of informal sector businesses within the study area.
3. To identify the challenges associated with entrepreneurial orientation in relation to business growth of informal sector businesses.
4. To recommend strategies for optimizing entrepreneurial orientation in order to improve business growth of informal sector businesses.

1.4 Research Questions

1. What is the effect of entrepreneurial orientation on business growth of informal sector businesses in Selected Fintech Companies in Nigeria?
2. To what extent does entrepreneurial orientation influence business growth of informal sector businesses within the study area?
3. What challenges are associated with entrepreneurial orientation in relation to business growth of informal sector businesses?
4. What strategies can be adopted to optimize entrepreneurial orientation in order to improve business growth of informal sector businesses?

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 Fintech Companies in Nigeria seeking to understand how entrepreneurial orientation translates into measurable outcomes around business growth of informal sector businesses. It is equally useful to students and future researchers looking for a localized empirical reference on this relationship.

1.6 Scope of the Study

The study is limited to an examination of Entrepreneurial Orientation and its relationship with business growth of informal sector businesses within the context of Selected Fintech Companies in Nigeria. It reflects a MSc-level scope of analysis and relies on data and perspectives available within that scope; generalizing the findings beyond this specific context should therefore be done with appropriate caution.