IMPACT OF AGE AND EDUCATIONAL BACKGROUND ON PRIOR KNOWLEDGE OF TECHNOLOGICAL MICROENTREPRENEURS IN LAGOS STATE, NIGERIA

Abstract

This study assesses the level of knowledge of technology-based micro-entrepreneurs and investigates the impact of entrepreneur’s age and education on their prior knowledge. The study was carried out in Lagos State, Nigeria. Survey method was used. Two hundred and twenty-five firms participated in the study. Among others, the results show (p < 0.05) that there is a significant association between age and entrepreneur’s comprehensive knowledge set. Also, there is a significant association between educational background and knowledge of how to serve market and between educational background and familiarity with customers’ problems. However, no significant association was found between educational background and rich knowledge about market. If micro-entrepreneurs will be able to perform satisfactorily, there is a need to encourage adequate education and physical maturity before venture creation.