Factors influencing entrepreneurial intentions of Zimbabweans during economic recessions: a case of hardware small businesses in Harare, Zimbabwe

Abstract

The purpose of this paper is to establish factors that influence entrepreneurial intention (EI) in Zimbabwe during economic crisis. Relationships between these factors and EI were also established. A survey-based methodology was employed in which data were collected using self-administered questionnaires from a sample of 124 hardware small and medium enterprise (SME) owners. Further, the research employed Spearman's coefficient of rank correlation method to test hypotheses. Results indicated that EI in Zimbabwe is influenced by opportunity recognition, job loss, social pressure, sector expected positive potential, perceived easiness to run a business, and resource availability. Perfect positive relationship between EI and these factors was discovered. Therefore, government should consider ways of harnessing these EI factors to enhance new venture creation and reduce unemployment. New knowledge of EI in developing countries and economic downturn periods has been produced.