Author(s): Fortune Jonathan, Adewale, O. Osibanjo, Kelechi, C. Chukwudi, Lynda, O. Ogunyemi, Joseph A. Dada
The goal of this research was to explore the perception of people concerning how the external business environment affects social entrepreneurship development and what can be done to improve the sector. This Study therefore identifies the perception of external business environment on social entrepreneurship development: a study of Covenant University, Ota, Ogun State. The study addressed problems on complex, rigid and inconsistent government policy, lack of access to finance and high cost of adopting a new technology. The Study sought to determine the influence of government policy, interest rate and disruptive technology on social value, social enterprise and social entrepreneur respectively. The study employed the use of systems theory and contingency theory and empirical literature on external business environment and social entrepreneurship was also discussed. The study made use of survey research design. The sample size using Taro Yamen Formula is 245 out of 633 postgraduate students. The data were collected using a stratified random sampling method and a structured questionnaire. SPSS and Linear Regression were used by these researchers to analyze data collected and also to analyze results. The result showed that there was no relationship between government policy and social value meanwhile there was a moderate relationship between interest rate and social enterprise and also a moderate relationship between social entrepreneur and disruptive technology. The study therefore recommends that social entrepreneurs should take advantage of other sources of assessing fund funds to finance the growth of their social enterprise; financial institutions should make funds easily accessible to social entrepreneurs with a low interest rate. The government should implement friendly fiscal and monetary policies to aid social entrepreneurship development in Nigeria. Social entrepreneurs should be abreast and adaptable to technological changes for the benefit of the organization.