Evaluating the Impact of Entrepreneurial Success Through Educational, A Family Support: Case Study of Somali Graduates

Abstract

Purpose: This paper demonstrates the analyses of the role of educational and family support for the development of personal skills and risk willingness, which are important for pursuing entrepreneurial ventures. Entrepreneurship is seen as a critical component of economic development and growth, particularly in developing countries. Design/Methodology: The data was collected from three universities ((SIMAD University, Somali National University and Mogadishu University) in Banadir region purposively selected based on their research publication, formation of entrepreneurial sites, entrepreneurial fields, and entrepreneurial faculties. The study randomly selected 306 students across eight faculties from total population of 350 using Slovin’s Formula, the study utilized multiple linear regressions as technique of data analysis. The study used structural models through PLS software. Findings: The results revealed that that educational and family support significantly and positively impacted entrepreneurial intentions. The role of mediating variables (personal skills and risk willingness) also improves entrepreneurial intentions among graduate students. Moreover, the model shows that the changes of independent variables explain 34% of the changes of dependent variable, while the remaining 62% of changes might explained by unidentified factors which are not incorporated in the model. Recommendations: Thus, it is recommended that the private financial institutions and public institutions work together to establish micro finance center for the position of inspiring entrepreneurship joint ventures or ventures in the country.