Entrepreneurial Development and Sustainability of Pharmaceutical Retail firms in Abuja, Nigeria

Abstract

The study investigated the impact of entrepreneurship development on the sustainability of pharmaceutical retail firms' in the Federal Capital, Abuja, Nigeria. The study adopted a descriptive survey design. From a population of 486 community pharmacy practitioners identified in the study area through a pilot study commissioned by the researchers, confirmed by the Pharmacy Council of Nigeria's office, a sample of 219 was estimated by applying Taro Yamene’s statistical formula. Primary statistical analysis tools were summary statistics of percentages, correlation and multiple regression analysis. Findings indicate that entrepreneurship training and the development of managerial capability have significant and positive effects on the sustainability of a pharmaceutical retail business. Consequently, the study concludes that developing different dimensions of entrepreneurial skills, knowledge, and competencies leads to business success, growth and sustainability. It was therefore recommended, among others, that training of different kinds be made available to community pharmacy practitioners to acquire the requisite skills and competencies to manage their businesses to achieve desired goals effectively.