Impact of human resource development on entrepreneurial self-reliance: A study of small business owners in Abuja, Federal Capital Territory, Nigeria

Abstract

This study interrogates the impact of Human Resource Development (HRD) and entrepreneurial self-reliance among small business owners in Bwari Area Council, Abuja, Federal Capital Territory, Nigeria. By employing a survey research design, the study collected data from small business owners to explore how HRD initiatives impact their entrepreneurial success and independence. The major findings of this study indicate that lack of adequately trained human, financial resources and government supports made it cumbersome for entrepreneurial self-reliance to succeed autonomously. The study concludes that human resource development plays a crucial role in fostering entrepreneurial self-reliance. It highlights the importance of equipping small business owners with the necessary skills and knowledge to navigate the challenges they face. Based on these findings, the study concludes by making the following major recommendations. First, small business owners should prioritize human capital development to improve their future prospects for success. Second, the government should take deliberate steps to create an enabling environment that supports small businesses, ensuring they have access to resources and infrastructure that facilitate growth. Lastly, commercial banks are encouraged to offer loan facilities with reasonable interest rates to small business owners, enabling them to invest in their businesses and repay loans without defaulting. These measures can collectively strengthen the entrepreneurial ecosystem in the Bwari Area Council, Abuja, ultimately leading to greater self-reliance among small business owners.