Global Journal of Management and Business Research, A: Administration and Management, Volume 22 Issue 7

Strategic Entrepreneurship Alliances and Sustainable Growth of Small Businesses in Nigeria: The Nexus Anoke, Amechi Fabian α , Osita, Fabian Chinedu σ , Okafor, Joy Ndidiamaka ρ & Nzewi, Hope Ngozi Ѡ Abstract- Due to high operational costs, operational risks, and the inability of SMEs to access resources, business activities in Nigeria have remained largely unsustainable over time. Small businesses must be able to overcome these obstacles if they want to remain viable globally. This paper is aimed at investigating the relationship between strategic entrepreneurship alliance and sustainable growth of small businesses in Nigeria. With a population of three thousand and fifteen (3015) registered small businesses in Abuja Metropolis and using Bartlett, Kotrlik, and Higgins (2001) model of minimum sample size determination, a sample size of 520 respondents was obtained and a questionnaire was the only data collection instrument employed in the study. It was revealed that both vertical and horizontal integrations are strongly related to the growth and sustainability of small businesses in Abuja Metropolis. The study concluded that a strategic entrepreneurship alliance is pivotal for small business’ growth sustainability and recommended that small businesses desirous of growth and expansion through improved competitive positioning and gain entry into new markets, supplement critical skills, and share the risk and cost of major developmental projects should strategically ally and collaborate with other firms to ensure a continuous flow of inputs for uninterrupted operations resulting to effective, efficient and reliable product distribution chain that guarantees firm’s growth and sustainability. Keywords: strategic entrepreneurship, strategic alliances, vertical integration, horizontal integration, and sustainable business growth . I. I ntroduction any of the world's most thriving firms operate on more than one line of business and continent. They diversify their product line and revenue base, segment their business, and ally with other successful firms for growth and business sustainability (Hazarika & Alwang, 2013). If a company wants to grow, sustain and succeed in business, or enjoy a successful career in the corporate world, it is imperative to strategically collaborate with other firms. To achieve this, firm owners/ operators need to maintain a network of business connections. Author α σ ρ Ѡ : Department of Business Administration, Nnamdi Azikiwe University Awka, Anambra State Nigeria. e-mails: fa.amechi@unizik.edu.ng, cf.osita@unizik.edu.ng, nj.okafor@unizik.edu.ng , hn.nzewi@unizik.edu.ng Strategic Entrepreneurship (SE) can typically be conveyed as organizationally substantial innovations within prevailing firms that involve the blend/integration of prospects and advantage-seeking actions (Lall, 2015). Nzitunga (2015) noted that SE constantly shapes entrepreneurial activities through a strategic perspective by helping firms raise their organizational performance and develop linkage advantage through increasing profit and market share value. This marriage (alliance) when strategically done between two or more companies, agrees to pursue a set of agreed objectives while remaining an independent organization. In a contemporary business environment, SE is fast gaining ground, particularly in reputable firms and businesses across the globe, especially those companies that strive to cultivate more entrepreneurial orientation in their pursuit to maintain a competitive edge over their rivals (Oloda, 2017). Strategy and entrepreneurship are sovereign paradigms, but their amalgamation helps to produce value for esteemed customers, which is one of the reasons that firms exist, gain, and maintain economic benefit for businesses as claimed by Anoke and Okpanaki (2022). A significant component of strategic entrepreneurship is the convergence of entrepreneurial opening-seeking and strategic edge acts, which catalyzes innovation, business expansion, and wealth generation. It is obvious that in today's global, dynamic and depressed business environment orchestrated by novelty Covid 19, strategic entrepreneurship now concentrates more on capacity building through innovative creation, business improvement, corporate business venturing, stimulating business competitiveness, exploring new business potentials, building stronger firm capabilities, vertical and horizontal diversifications, harvesting from current business networking, consolidation through business synergy and managing firm actions across different established contexts in which contemporary business exist (Igbokwe & Elikwu, 2019). All these are geared towards building a sustainable business environment and enterprise. Strategic alliance denotes the strengthening of a firm's key areas through the association of strategic third parties alliance, which fosters the company's capacity to collaborate over time as a means to lessen M 13 Global Journal of Management and Business Research Volume XXII Issue VII Version I Year 2022 ( ) A © 2022 Global Journals