ASSESSING THE FACTORS THAT DETERMINE ENTREPRENEURIAL INTENTION IN SERENJE DISTRICT CENTRAL BUSINESS DISTRICT IN ZAMBIA

Abstract

This study investigated the factors influencing entrepreneurial intention among prospective entrepreneurs in Serenje District, Zambia. The research specifically examined the role of individual traits, educational factors, institutional support, and socio-cultural influences in shaping individuals' intentions to start a business. A quantitative research design was employed using a structured questionnaire administered to 280 respondents selected through stratified random sampling. Data were analyzed using descriptive statistics, correlation analysis, and multiple regression techniques. Findings revealed that all four categories of factors—individual traits, educational exposure, institutional support, and socio-cultural environment—were significantly associated with entrepreneurial intention. Among them, educational factors showed the strongest positive correlation with entrepreneurial intention (r = 0.719, p < 0.01), followed by institutional factors (r = 0.553), individual traits (r = 0.506), and sociocultural factors (r = 0.503). Additionally, perceived desirability of entrepreneurship was found to significantly mediate the relationships between the independent variables and entrepreneurial intention, emphasizing the psychological and perceptual dimensions of entrepreneurship. The study concludes that enhancing entrepreneurship education, providing institutional support, fostering a positive socio-cultural environment, and nurturing individual entrepreneurial traits are critical to fostering entrepreneurial intention in Serenje District. The findings have practical implications for policy formulation, curriculum design, and community-based entrepreneurial support programs. Limitations of the study include its reliance on self-reported data and a focus on a single district, suggesting the need for broader, longitudinal studies in future research.